VANCOUVER,
BRITISH COLUMBIA--(Dec. 16, 2010) - El Tigre Silver Corp. (The "Company") (TSX VENTURE:ELS)(PINK
SHEETS:EGRTF)(FRANKFURT:5RT) is pleased to announce exploration results
from surface sampling on the company's El Tigre mining concessions in
Sonora, Mexico (the "El
Tigre Property").
Over a continuous
interval of 20.9 meters collected across the El Tigre structure
disseminated argentite-galena-limonite mineralization encountered 1.71
ounce silver per ton inclusive of a higher grade intercept of 10.4 meters
of 2.56 ounce silver per ton in the hangingwall
of the El Tigre vein. By comparison previous chip samples (Bradshaw, 2008)
encountered 19.3 meters of 1.70 ounce silver per ton compared to 19.3
meters of 1.77 ounce silver per ton from El Tigre channel samples over the
same interval.
Espuelas Canyon Assay Results
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Sample
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Au
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Ag
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Cu
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Pb
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Zn
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#
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Area
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Type
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Length
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Height
|
Depth
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ppb
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ppm
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ppm
|
ppm
|
ppm
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ET-172
|
Espuelas
|
Channel
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2.55 m
|
10 cm
|
4 cm
|
108
|
73.6
|
114.3
|
525.1
|
157
|
ET-173
|
Espuelas
|
Channel
|
1.55 m
|
10 cm
|
4 cm
|
319
|
63.1
|
93.2
|
745.5
|
46
|
ET-174
|
Espuelas
|
Channel
|
1.60 m
|
10 cm
|
4 cm
|
40
|
89.9
|
34.7
|
567.5
|
25
|
ET-175
|
Espuelas
|
Channel
|
1.55 m
|
10 cm
|
4 cm
|
117
|
130.4
|
61.7
|
673.2
|
18
|
ET-176
|
Espuelas
|
Channel
|
1.55 m
|
10 cm
|
4 cm
|
47
|
63.3
|
39.2
|
417.6
|
25
|
ET-177
|
Espuelas
|
Channel
|
1.55 m
|
10 cm
|
4 cm
|
134
|
115.3
|
32.2
|
494.9
|
94
|
ET-178
|
Espuelas
|
Channel
|
1.45 m
|
10 cm
|
4 cm
|
33
|
29.0
|
23.8
|
101.4
|
25
|
ET-179
|
Espuelas
|
Channel
|
1.50 m
|
10 cm
|
4 cm
|
22
|
38.8
|
15.3
|
140.5
|
25
|
ET-180
|
Espuelas
|
Channel
|
1.50 m
|
10 cm
|
4 cm
|
32
|
24.4
|
15.9
|
225
|
51
|
ET-181
|
Espuelas
|
Channel
|
1.50 m
|
10 cm
|
4 cm
|
49
|
37.7
|
35.3
|
237.3
|
48
|
ET-182
|
Espuelas
|
Channel
|
1.50 m
|
10 cm
|
4 cm
|
32
|
17.5
|
27.7
|
242.1
|
60
|
ET-183
|
Espuelas
|
Channel
|
1.50 m
|
10 cm
|
4 cm
|
34
|
29.0
|
19.3
|
162.7
|
54
|
ET-184
|
Espuelas
|
Channel
|
1.60 m
|
10 cm
|
4 cm
|
32
|
21.8
|
11.3
|
113
|
46
|
|
N/A = Not Analyzed
34.286 ppm = 1 oz/tn
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Espuelas Canyon Area - Comparison of Assay
Results to Previous Work
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|
El
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Bradshaw
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|
|
|
Au
|
|
Ag
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|
tigre #
|
#
|
|
Length
|
|
ppb
|
Au
|
ppm
|
Ag
|
See
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Data
|
Type
|
ET =
|
Height
|
El
|
ppb
|
El
|
ppm
|
above
|
follows
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Bradshaw
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Bradshaw
|
Bradshaw
|
Tigre
|
Bradshaw
|
Tigre
|
Bradshaw
|
ET-172
|
6371
|
Rock
Chip
|
2.55 m
|
60 cm
|
108
|
45
|
73.6
|
28
|
ET-173
|
6370
|
Rock
Chip
|
1.55 m
|
60 cm
|
319
|
72
|
63.1
|
39
|
ET-174
|
6369
|
Rock
Chip
|
1.60 m
|
60 cm
|
40
|
24
|
89.9
|
69
|
ET-175
|
6368
|
Rock
Chip
|
1.55 m
|
60 cm
|
117
|
17
|
130.4
|
93
|
ET-176
|
6367
|
Rock
Chip
|
1.55 m
|
60 cm
|
47
|
21
|
63.3
|
126
|
ET-177
|
6366
|
Rock
Chip
|
1.55 m
|
60 cm
|
134
|
51
|
115.3
|
104
|
ET-178
|
6365
|
Rock
Chip
|
1.45 m
|
60 cm
|
33
|
62
|
29.0
|
48
|
ET-179
|
6364
|
Rock
Chip
|
1.50 m
|
60 cm
|
22
|
15
|
38.8
|
15
|
ET-180
|
6363
|
Rock
Chip
|
1.50 m
|
60 cm
|
32
|
54
|
24.4
|
68
|
ET-181
|
6362
|
Rock
Chip
|
1.50 m
|
60 cm
|
49
|
37
|
37.7
|
32
|
ET-182
|
6361
|
Rock
Chip
|
1.50 m
|
60 cm
|
32
|
37
|
17.5
|
46
|
ET-183
|
6360
|
Rock
Chip
|
1.50 m
|
60 cm
|
34
|
17
|
29.0
|
46
|
Sulfide
mineralization is 40 � 60% oxidized to barren limonite in surface exposures
of mineralization and accounts for lower surface values. Seventy meters below
surface mineralization in the Level 4 crosscut encountered 37 meters of 5.0
ounces silver per ton in unoxidized sulfide mineralization (historic
assays).
Gold assayed 22 �
319 ppb and was anomalous. Limited copper, lead and zinc were also
encountered showing 11.3 � 114.3 ppm, 101.4 � 745.5 ppm, and 25 � 157 ppm
respectively. Only minor amounts of the deliterious elements arsenic,
antimony and manganese were seen. Values ranged from 8.5 � 80.5 ppm
arsenic, 2.8-30.2 ppm antimony, and 22-270 ppm manganese.
The Exploration
Target
Bulk tonnage, low
grade silver-gold mineralization is El Tigre's primary target and crops out
in silicified, brecciated and quartz veined welded ash flow tuff on surface
at the northern tip of historic mining in Espuelas Canyon. Mineralization
is found as disseminated argentite and galena in massively silicified
welded crystal tuff.
Silver-gold
mineralization is encountered in both the hangingwall and footwall of each
of the El Tigre, Sietz-Kelly and Sooy veins. Low grade silver
mineralization is believed to extend for approximately one-and-one-half
kilometers along the strike of the vein system from 7 Level to surface, at
depths ranging from surface to 400 meters vertically. It is encountered in
three crosscuts that show intercepts ranging from 35 to 50 meters true
width with historic silver grades of 4.7 - 5.5 ounces silver per ton and
gold grades ranging from nil to 0.35 ounces gold per ton. Historic data is
based on El Tigre Mine assay plans and historic Anaconda sampling on the
400 Level. The validation of mineralized widths and assay values reported
for these crosscuts is the initial target during the first phase of El
Tigre's exploration program.
Several historic
estimates of target potential exist ranging from 5 to 18 million tons at 5
- 6.5 ounces silver per ton (Thoms, 1983, Bradshaw, 2008). Up to 0.35
ounces gold per ton is encountered with this mineralization (historic
assays).
Two thousand
(2,000) meters of surface diamond drilling is planned beginning in January
to validate the target before advancing with reconnaissance and definition
drilling of the intervening ground along the strike of the veins. The
Company, through its subsidiaries, holds this and other targets in their
entirety with seven mineral concessions totaling 43,000 hectares centered
on the El Tigre mine.
Stuart Ross,
President of El Tigre Silver Corp., says, "We are pleased that the
current sampling program continues to confirm the earlier work done on the
property and we are now in a position to move to the drilling stage of our
work program with confidence in the targets we have defined." A
technical report and technical presentations have been prepared for the El
Tigre Property and can be found on the Company's profile on SEDAR at http://www.sedar.com and on the Company's website http://www.eltigresilvercorp.com.
Method of
Collection and Analysis
All samples were
collected from contiguous 1 - 2.55 meter long x 10 centimeter wide channels
cut 4 centimeter deep using a circular bladed concrete saw. Paint marks and
labels from previous work were used to identify and define the Company's
sample. The samples were bagged in olefin sacks and labeled. Samples
averaged 2.3 kilograms in size and were transported by El Tigre and Skyline
Laboratory, Inc. ("Skyline") personnel to Skyline's Tucson,
Arizona laboratory for sample preparation and analysis. Samples were
assayed for gold by 30 gram fire assay with AA finish and for silver by AA
on a 30 gram sample. Skyline analyzed the samples for 48 elements using
aqua regia leach, Induction Coupled Plasma (ICP) and AA methods.
Quality Control
The quality
assurance-quality control (QA-QC) of El Tigre and their contractors is as
follows: Samples are collected and handled only by authorized company
personnel, who collect them utilizing the methods described above. Samples
are bagged and labeled with unique sample numbers. Numbered sample data is
recorded on site. Samples are then transported by El Tigre personnel to the
El Tigre sample handling facility and there stored for shipment.
A shipment
consists of 60-100 samples. El Tigre personnel transport samples bagged six
to a bag and sealed to a rendezvous point with Skyline personnel. Skyline
authorized personnel load and transport the samples through the U.S.-Mexico
border to their Tucson, Arizona sample preparation and assaying facility.
Skyline assay
procedures are described on their website at www.skylinelab.com/iso/index. Skyline is registered to ISO/IEC 17025:2005
standards and has received ISO 17025 accreditation for specific laboratory
procedures.
The technical
content of this news release has been approved by Eugene K. Schmidt, RPG
and Vice President of Exploration for El Tigre, a Qualified Person as
defined in NI 43-101.
Cautionary
Statements:
This news release
contains forward-looking statements concerning the El Tigre silver
property. Forward-looking statements involve risks, uncertainties and other
factors that could cause actual results, performance, prospects and
opportunities to differ materially from those expressed or implied by such
forward-looking statements. Factors that could cause actual results to
differ materially from these forward-looking statements include those risks
set out in the Company's public documents filed on SEDAR at www.sedar.com. Although the Company believes that the
assumptions and factors used in preparing the forward-looking statements
are reasonable, undue reliance should not be placed on these statements,
which only apply as of the date this news release, and no assurance can be
given that such events will occur in the disclosed times frames or at all.
Except where required by law, the Company disclaims any intention or
obligation to update or revise any forward-looking statement, whether as a
result of new information, future events or otherwise.
Historical
resources � a qualified person has not done sufficient work to classify any
historical estimate at El Tigre as current mineral resources. The Company
is not treating the historical estimate as current mineral resources and
the historical estimate should not be relied upon.
Potential � the
potential quality and grade is conceptual in nature. There has been
insufficient exploration at the El Tigre silver property to define a
mineral resource. It is uncertain if further exploration will result in
discovery of a mineral resource.
Please note that
safe harbour statements have to be property specific to protect the
Company. They must also change over time as the risks change.
The TSX Venture
Exchange has neither approved nor disapproved of the contents of this press
release. Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of this press
release.
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