Silver Tiger Metals Inc V.SLVR

STIFEL GMP

[666999]

This morning, Silver Tiger reported additional results from drilling at its El Tigre project in Sonora, Mexico. While targeting the down dip extension of the Seitz-Kelly vein, drilling discovered the new #4 Vein where it intersects the flat-lying Black Shale horizon. This confluence created the right conditions for a 'trap' for gold mineralization with assays returning 12.24 g/t Au over 5.1m incl 102 g/t Au over 0.6m. This provides a new high grade plunge zone target for the 6 drills currently turning on site. SLVR trades at a spot P/NAV of just 0.40x and we expect additional high grade results to be reported over the coming month to drive the stock higher. BUY - C$1.55/sh target price. Key Points This morning, Silver Tiger released results from 2 holes at its 100% owned El Tigre project in Sonora, Mexico. • Drilling discovered a new vein 100m from the historically high grade Seitz-Kelly vein, between it and the El Tiger vein in the heart of the project area. While targeting the down dip extensions of the Seitz-Kelly vein, the hole intercepted this new #4 Vein where it intersects the flat-lying Black Shale horizon. This is a similar confluence as recently discovered at the Sooy and Seitz-Kelly veins. See Figure 1 for the interpreted orientation of the new discovery. • The headline assay was 102 g/t Au + 120 g/t Ag over 0.6m within a broader intersection of 12.24 g/t Au + 84 g/t Ag over 5.1 meters. Areas where the silver rich epithermal veins intersect this Black Shale horizon tend to be more gold rich than the rest of the vein. • Drilling has resumed after the Christmas break with six drills turning on the property. Impact: Positive • Today's results are in line with our thesis that there are additional veins to be found near the historically mined veins at El Tigre. The discovery of this new #4 Vein provides both a new vertical vein structure and high grade Black Shale intersection plunge line to be targeted for additional resource growth. • SLVR trades at a spot P/NAV of 0.40x based on our in-situ value for our target resource of 187Moz AgEq (incl the existing 1.1Moz gold halo resource around the historic workings). With 6 drills turning focused on defining a maiden resource for the high grade vein extensions, we expect additional high grade results to be reported over the coming months. We maintain our BUY rating and C$1.55/sh target price.

[masterthink]

BLA BLA BLA !!  Your number 0.66 black cents !! Big Deal !!