Eight Capital Eight Capital, Mitch Vanderydt
Not Rated
"Silver Tiger Intersects 1.6 meters Grading 1,355.4 g/t AgEq in the Sooy Vein and 2.3 meters of 870.7 g/t AgEq in the Sooy Footwall Zone in Hole ET-21-213
- These follow-up results continue to confirm the presence of the recently discovered Sooy Vein footwall zone that was announced on 2-FEB-21. This footwall zone returned 382 g/t AgEq over 22.2m, including 668 g/t AgEq over 11.75m, which boasted grade*thickness values of 8,480 m-g/t and 7,849 m-g/t (multiples of those values found elsewhere on the property) and was outside of the quartz vein, representing a new style of mineralization not found elsewhere on the property. Initial follow up results announced 9-MAR-21 returned 638.4 g/t AgEq over 9.3m and 810.2 g/t AgEq over 4.6m from the Sooy Vein and its footwall zone that parallels it (which also showed excellent relative grade*thickness values).
- Today’s results include two follow-up holes with intercepts from both the previously mined Sooy (quartz) vein, and from the recently discovered footwall zone beyond the quartz vein.
- While not quite as impressive as the footwall discovery hole announced in Feb. or initial follow-up results in March, today’s results from both the Sooy vein and its footwall zone are showing similarly broad widths (279.4 g/t AgEq over 8.4m and 155.6 g/t AgEq over 14m at Sooy Vein, and 304.5g/t over 7.6mat the footwall), which result in grade*thickness values ranging from 2,178 to 2,346m-g/t (still solid and largely higher than other parts of the property). Both the Sooy Vein and footwall zone are showing broad widths at modest grades. The broad widths should contribute heavily to ounces in a future resource update, and could also be amenable to bulk underground mining. The proximity of these two parallel zones to each other may help lower opex and capital intensity on greater economies of scale. The Sooy vein was mined for 1,000m along strike, and the footwall zone is showing similar strike potential.
- Recall, SLVR is aggressively drilling 20,000m with 3-4 rigs near its El Tigre mine that hosts 1 MM oz AuEq @ 1g/t AuEq (silver and gold), and to the north at several unmined vein extensions that recently returned:
- up to 1,303 g/t Ag over 3m in the newly discovered Benjamin Vein (announced 21-JAN-21), which started to close the gap between the El Tigre mine and vein system to north.
- up to 2,049 g/t AgEq over 0.5m in the Protectora Vein (announced 17-NOV-20)
- up to 1,122 g/t AgEq over 0.7m in the Caleigh Vein (announced 17-NOV-20)
- SLVR is fully funded after its recent C$20MM financing."