El Tigre Silver Corp. (TSXV:ELS,OTCQX:EGRTF) announced results from the NI 43-101 PFS for the El Tigre silver and gold project in Sonora, Mexico
El Tigre Silver Corp. (TSXV:ELS,OTCQX:EGRTF) announced results from the NI 43-101 PFS for the El Tigre silver and gold project in Sonora, Mexico.
As quoted in the press release:
The El Tigre Project contains 1.3 million tonnes of proven and probable tailings material grading 83.0 g/t silver and 0.279 g/t gold. HRC’s economic analysis of the base case utilized a silver price of US$25.00/oz and a gold price of US$1,289/oz at a silver to gold equivalency ratio of 51.57:1. Metallurgical recoveries for gold and silver averaged 93% and 78%, respectively, with projected mining costs of US$0.90 per tonne processed; processing costs of US$22.80 per tonne processed, and G&A costs of US$5.60 per tonne processed in a typical year.
El Tigre’s President and CEO, Stuart Ross, said:
We’ve now defined a starting point for the resource at El Tigre with our first mineral resource estimate. We are extremely pleased with 9.875 million tonnes grading an average of 0.630 g/t Au and 39.7 g/t Ag totaling 24.713 million ounces of AgEq classified as indicated mineral resources with an additional 7.042 million tonnes grading an average of 0.589 g/t Au and 36.1 g/t Ag totaling 16.075 million ounces of AgEq classified as inferred mineral resources.