Silver Tiger Metals (TSXV: SLVR), an exploration and development company, has made a massive discovery on its flagship EL Tigre project in Sonora, Mexico. The company confirmed an 84% increase in indicated silver equivalent ounces at the flagship project from the initial September 2017 mineral resource. It also confirmed a 257% increase in inferred silver ounces from the 2017 estimates.

The completion of a recent drill program resulted in the discovery of shale and sulfide with increased tonnage in the veins. Silver Tiger Metals has since confirmed approximately 37.2 million ounces of silver and 575 thousand ounces of gold in the indicated category and 52.6 million ounces of silver and 374 thousand ounces of gold in the inferred category.

Preliminary metallurgical work demonstrated excellent silver, gold, copper, zinc, and lead recovery in sulfur dioxide and black shale zones, with silver equivalents of 95.7% and 98.1%, respectively. The high-grade sulfide and black shale zones have been the focus of recent drilling activities that show the great potential of the El Tigre project.

"With this successful MRE being complete, we now turn our attention to economics. As previously announced, we expect to deliver our PEA in Q4 2023. This coming milestone will see Silver Tiger transition from an explorer to a developer. This transition could significantly increase shareholder value." Glenn Jessome, president and CEO, stated.

El Tigre is Silver Tiger Metals' 100% owned project, with concessions covering over 28,000 hectares. The company acquired the project in 2016 for CAD$11 million and has been exploring plans to develop it to take advantage of the soaring gold prices.

The El Tigre mine lies at the northern end of the Sierra Madre silver and gold belt, which hosts epithermal silver and gold deposits. With gold prices trading above $1900 an ounce silver trading around $22 per ounce, Silver Tiger Metals remains well-positioned to generate significant value in bringing the project to fruition.

Silver Tiger Metals is committed to a healthy and safe workplace, adhering to the best practices in environmental, social, and governance practices with its exploration and development operations. The company always adheres to applicable environmental standards, laws, and regulations in its exploration and development activities.

El Tigre Project Metal Composition

The El Tigre project in the highly prospective El Tigre district strengthens Silver Tiger Metal's exposure to some of the key industrial metals that are always in high demand. The recovery of 91.1% copper, 98.2% lead, 98.8% zinc, 91.9% gold, and 98.4% silver in flotation tests underscores how viable the project is economically.

The high silver, gold, and base mineral discoveries with recoveries of over 96% underscore the potential economies of the mineral project. In addition, it strengthens the company's prospect of bringing the project online to take advantage of the ever-rising metal prices.

Encouraging Investments

Silver Tigre Metals has spent close to $13 million acquiring significant concessions as it looks to enhance its exposure to significant gold, silver, and copper. The company has also raised $75 million in four buy-deal financings since 2020.

As of June 30, 2023, Silver Tigre Metals had CAD$24.5 million for the June 30, 2023 quarter. The solid financial position means the company is in a position to accelerate exploration and development activities to bring the El Tigre project online. The financing has already allowed the company to drill over 100,000 meters, and it needs to drill more for further discoveries.

Analysts Ratings

Silver Tiger Metals is currently covered several analysts including Sprott Capital Partners, Desjardins, Eight Capital, Stifel, and several others. Currently the top recommendation comes from Stifel which has put a BUY on the stock at $1.15 per share.

Ownership and Share Structure

Silver Tiger Metals offers a unique combination of top-tier leadership that holds significant stakes in the company, thus ensuring its interests are aligned with those of shareholders. While about 364 million shares are outstanding, insiders own 11.5% of the shares.

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The Chief Executive Officer, Glenn Jessome, owns about 7.7 million shares for a 2.136% stake, while the chairman of the board, Richard Gordon, owns 2.4 million shares for a 0.66% stake. David Duncan, one of the directors, owns 2.4 million shares for a 0.66% stake.

Institutional investors also track the company, with Franklin Advisers being the biggest shareholder with a 9.77%stake. Sprott Asset Management comes in second with a 4.778% stake, followed by Merk Investment with a 3.652% stake.

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Disclaimer: Silver Tiger is a paid marketing client of thegoldstocks.com.