El Tigre vein 27 ounce Ag intercept El Tigre drills 0.75 m of 809.4 g/t Ag at El Tigre
El Tigre Silver Corp (C:ELS)
Shares Issued 37,673,109
Last Close 5/23/2012
.26
Thursday May 24 2012 - News Release
Mr. Stuart Ross reports
EL TIGRE REPORTS NEW SILVER ASSAYS FROM ONGOING DRILLING PROGRAM
El Tigre Silver Corp. has provided an update report along with assays from the next three holes from the continuing Gold Hill core drilling program at its 100-per-cent-owned El Tigre silver project in Sonora, Mexico.
As of this date, the core drilling program has completed 11 holes for a total of 2250 meters. The Company continues to experience good core recoveries in the drill program. These holes are testing the potential for disseminated gold mineralization associated with the El Tigre vein system and high grade silver and gold values found in the El Tigre vein. Drilling is focusing on the southern 1.2 kilometers of the El Tigre vein system and is centered on Gold Hill.
Exploration Highlights:
Drill hole ET-34 was located 100 meters west of ET-33 (1 m of 1611 g/tonne Ag) to test the down dip of mineralization intercepted in ET-33. Hole ET-34 penetrated the El Tigre vein which assayed 809 g/tonne Ag with 9.5 g/tonne Au from 216.75 to 217.5 m (0.75 m intercept). Drilling also intercepted several short zones of lower grade mineralization.
Drill Hole ET-35 was located 50 meters north of ET-33 and it intercepted 1 m of 515 g/tonne Ag in the El Tigre vein.
Drill hole ET-36 was located 75 meters west of last year's holes ET-31 and 32. It intercepted the vein but it contained low grade values at deeper levels.
The assay results of these three drill holes are summarized in the following table. Silver equivalent is calculated at 50 to 1.
Assay Summary Table: Holes ET-34, ET-35, ET-36
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Core Length Silver
From To Interval Silver Gold Equivalent
Core Hole (meters) (meters) (meters) (g/t) (g/t) (g/t)
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ET-34 63.0 64.6 1.6 (i) 0.62 31
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92.0 93.5 1.5 (i) 0.79 39.5
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111.4 113.0 1.6 152.2 6.82 493.2
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190.0 200.5 10.5 10.8 0.46 33.8
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205.0 215.5 10.5 (i) 0.39 19.5
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215.5 219.0 3.25 340.4 2.87 483.9
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Includes 216.75 217.5 0.75 (ii)809.4 9.51 1284.9
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Includes 217.5 218.25 0.75 581.8 1.65 664.3
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219.0 222.0 3.0 (i) 0.26 13
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ET-35 29.5 31.0 1.5 (i) 0.95 47.5
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91.3 92.3 1.0 206.9 (i) 206.9
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92.3 93.3 1.0 (ii)515.6 0.95 563.1
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113.8 115.5 1.7 16.3 0.35 33.8
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115.5 117.0 1.5 (i) 0.57 28.5
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ET-36 8.4 10.4 2.0 (i) 0.64 32.0
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13.0 14.0 1.0 (i) 0.22 11.0
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37.9 39.3 1.4 18.8 0.29 33.3
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40.0 41.0 1.0 (i) 0.44 22.0
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43.0 44.0 1.0 20.5 0.42 41.5
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47.0 51.0 4.0 18.4 0.28 32.4
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52.50 63.5 11.0 (i) 0.28 14.0
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66.00 67.5 1.5 (i) 0.44 22.0
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72.50 74.0 1.5 (i) 0.23 11.5
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90.00 93.5 3.5 (i) 0.29 14.5
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149.50 151.0 1.5 (ii)122.4 122.4
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152.50 155.0 2.5 64.0 64.0
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Note 1: Assay cutoffs are 0.2 g/t Au and 10 g/t Ag with g/t as gram per
tonne.
Note 2: Drill hole direction, angle and depth.
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Drill Hole Azimuth Angle Depth
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ET-34 90 deg -50 deg 250.0
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ET-35 90 deg -50 deg 219.55
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ET-36 90 deg -60 deg 172.5
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Note 3: (i) Did not meet cut-off grade. (ii) El Tigre Vein
Note 4: Silver Equivalent is 50 Silver to 1 Gold.
Stuart Ross, President and CEO, stated that, "These results continue to confirm the particular nature of the geology and mineralization of the Gold Hill area. We look forward to continued confirmation of the mineralization from our ongoing 5000 meter drill program."
Sample Procedure: Drilling is being performed by Landdrill International Mexico, SA de CV. The core is retrieved by El Tigre geologists and taken to the secure core storage building for measuring, logging, splitting and bagging. Standards and blanks are inserted randomly every 20 samples to ensure a high standard of quality assurance-quality control. These samples are then transported by El Tigre geologists to Hermosillo to the Inspectorate sample prep lab where they are crushed and pulped before being shipped to the Reno, Nevada assaying lab.
The technical content of this news release has been approved by Steven D Craig, CPG and Vice President of Exploration for El Tigre, a Qualified Person as defined in NI 43-101.
We seek Safe Harbor.