Silver Tiger reports extraction results from metallurgical test work at El Tigre

Silver Tiger Metals reports gold and silver extraction results from initial scoping-level metallurgical test work from its high-grade silver-gold El Tigre Project in Sonora, Mexico. The Corporation also expects to release an updated and expanded mineral resource estimate and Preliminary Economic Assessment in Q3 2023. Preliminary metallurgical work demonstrates excellent recoveries of silver, gold, copper, zinc and lead in the Sulphide and Black Shale Zones with silver equivalent recoveries of 95.7% and 98.1%, respectively. The newly discovered, high-grade Sulphide and Black Shale Zones have been the focus of recent drilling and they show great exploration potential being open both laterally and at depth. Previous drilling of the Surface Stockwork Zone has indicated a mineralized zone in excess of 100 meters true width. With high recoveries of 78.1% silver equivalency in column testing, simulating a heap leaching process, the Corporation sees the potential for an open pit low-cost heap leach process. This open pit heap leach process will be defined as part of the upcoming PEA. Results reported in this news release pertain to test work conducted by SGS Lakefield in Ontario in 2022 and 2023 on the Au-Ag mineralization from the Surface Stockwork Zone and Ag-Au-Zn-Cu-Pb mineralization from the Black Shale, Sulphide Zones and High-Grade Silver Veins. An updated and expanded mineral resource estimation and PEA for the El Tigre deposit is expected to be released during Q3 2023. Highlights Include: Preliminary rougher flotation tests of the Black Shale Zone recovered 91.1% copper, 98.2% lead, 98.8% zinc, 91.9% gold, and 98.4% silver. Overall Silver Equivalent Recovery – 98.1%. Preliminary rougher flotation tests of the Sulphide Zone recovered 94.2% copper, 95.3% lead, 97.6% zinc, 79.6% gold, and 96.0% silver. Overall Silver Equivalent Recovery – 95.7%/ Surface Stockwork Zone column test extractions recovered – 83.1% Gold, 64.3% Silver at 3/8-in crush size with no requirement for agglomeration indicated in these tests. Overall Silver Equivalent Recovery – 78.1%. Also notable is the low cyanide consumption of 0.68 kg per tonne and lime consumption of 2.33 kg per tonne. Glenn Jessome, President and CEO, stated: “Based on representative samples from the Sulphide, Black Shale and Surface Stockwork Zones, we are pleased to report very high silver, gold and base metal recoveries. For flotation tests of the Sulphide and Black Shale Zones we note tremendous recoveries of 96 to 98% total silver equivalency for the milling process on the underground deposit; and for the open pit heap leach column tests we note that silver equivalency recoveries average above 78%, which represents a high recovery for a low-cost leaching process. Metallurgy is critically important to understanding the potential economics of a mineral project and these new results give us great encouragement that the upcoming PEA may show robust economics for the underground and open pit deposits.”