Silver Tiger Metals: Advancing the El Tigre Project Towards Production
Vancouver, Canada
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March 28, 2024 08:33 AM Eastern Daylight Time
Silver Tiger Metals CEO Glenn Jessome joined Steve Darling from Proactive to provide further details about the company's active development of its mining projects in Mexico, particularly focusing on the El Tigre project located in Sonora. With over 30 years of experience in the mining industry and concentrated efforts on the 30,000-hectare El Tigre project since 2017-2018, Silver Tiger Metals has achieved significant milestones.
According to Jessome, Silver Tiger Metals has made substantial investments totaling over CAD 100 million, including CAD 75 million raised during challenging market conditions over the past few years. This investment has enabled the company to conduct extensive exploration, with over 125,000 meters drilled. The culmination of this exploration effort was the announcement of a substantial resource estimate in 2023 and the completion of a preliminary economic assessment (PEA) for the stockwork zone of the El Tigre project.
The PEA revealed a net asset value of nearly USD 300 million, with an initial capital expenditure of less than USD 60 million. It also indicated a promising payback period of 1.7 years and projected approximately USD 500 million in after-tax free cash flow over the first decade. Currently, Silver Tiger Metals is focused on ongoing drilling efforts aimed at transitioning the PEA into a pre-feasibility study (PFS), scheduled for release in the summer. This PFS will further derisk and enhance the economic viability of the project.
Sonora, known for its mining-friendly environment, offers excellent logistics and proximity to major mines, providing strategic advantages for the El Tigre project. Looking ahead, the upcoming year is pivotal for Silver Tiger Metals, with key reports such as the PFS and continued exploration aimed at expanding and defining the underground resources. These efforts will lay the groundwork for future production phases, positioning the company for long-term success in the mining sector.
In summary, Silver Tiger Metals' commitment to advancing the El Tigre project and its impressive achievements to date demonstrate its potential for significant growth and value creation. With a strategic focus on exploration and project development, the company is well-positioned to capitalize on the vast potential of its mining assets in Mexico.
Contact Details
Proactive North America
Proactive North America
+1 604-688-8158
