2013-01-21 15:34:01 -
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 01/21/13 -- El Tigre Silver Corp. (the "Company" or "El Tigre") (TSX VENTURE:ELS)(OTCQX:EGRTF)(FRANKFURT:5RT) is pleased to report that drilling has started as scheduled with MAJOR DRILLING DE MEXICO, S.A. DE C.V. ("Major Drilling") at its El Tigre silver-gold property in northern Sonora, Mexico.
The 2013 exploration program anticipates the drilling of 5000 meters of core in 30 to 40 holes. The first phase of this program will be 2,700 meters and will focus on the 1.2 kilometer halo zone which is found on the southern portion of the claims, from the south side of Mula Mountain and continuing over Gold Hill. The second phase of the 2013 program consisting of 2,300 meters will fill-in around Phase 1 holes as needed for the resource block model and test other targets northward to the Camp area. The first hole (ET-45) is located near the bottom of Tigre Viejo Canyon between Johnny Crosscut and Holes ET-31 and ET-32 and is underway. When completed the core will be logged, split and sent for assay.
The Company expects the first phase of the drilling program to progress quickly with all assay results in hand by the end of March. Work will be underway concurrently to update to the Company's NI-43-101 technical report to include the first reported gold and silver resource based on this phase of the drill program and the 2011 and 2012 programs. The technical report is scheduled for completion near the end of the second quarter of 2013.
Stuart Ross President and CEO stated, "This will be a very busy year for the company. Besides our work on the 2013 exploration program and technical report, we will also be focusing on construction of a new tailings processing facility, from which we anticipate silver and gold production."
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.
About El Tigre Silver Corp.:
The Company, through its subsidiaries, holds the rights to 100% of nine mineral concessions, eight comprising of 431 square kilometers located in north-eastern Sonora, Mexico (the "El Tigre Property"). El Tigre also holds one additional 32 hectare claim separate from the El Tigre Property. A technical report has been prepared for the El Tigre Property and can be found on the Company's profile on SEDAR at www.sedar.com : www.sedar.com and on the Company's website at www.eltigresilvercorp.com.
This news release contains forward-looking statements and forward-looking information (together, "forward-looking statements") within the meaning of applicable securities laws and the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements include assay results, expected drilling programs, timing for release of technical report and future plans. 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 of 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.
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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