Silver Tiger Metals Stock Price, News & Analysis

Silver Tiger Metals Inc. (OTCQX: SLVTF) is a Canadian silver and gold exploration and development company focused on advancing its 100% owned El Tigre Project in Sonora, Mexico. The company operates in the silver ore mining industry within the broader mining and quarrying sector, with El Tigre positioned in the historic El Tigre Mining District at the northern end of the Sierra Madre silver and gold belt.

According to the company’s disclosures, management has decades of experience discovering, financing and building large hydrothermal and epithermal silver and gold projects in Mexico. Principled environmental, social and governance practices are described as core priorities, and the company states that its operations at El Tigre are designed to prioritize environmental sustainability and enhance the well-being of local communities around the project area in Sonora, Mexico.

El Tigre Project and Historic Mining District

Silver Tiger’s flagship asset is the El Tigre silver-gold project, covering approximately 28,414 hectares in the historic El Tigre Mining District. Gold was first discovered on the property in the Gold Hill area in 1896, with underground mining beginning in the early 1900s. Historical production came from three parallel high-grade veins: the El Tigre Vein, the Seitz Kelley Vein and the Sooy Vein. Underground mining on the El Tigre Vein extended roughly 1,450 metres along strike and down to about 450 metres depth, while the Seitz Kelley and Sooy veins were mined over shorter strike lengths and shallower depths.

Mining in the district ceased around 1930 when the silver price collapsed with the onset of the Great Depression. Historical reports cited by the company indicate that the mine produced approximately 353,000 ounces of gold and 67.4 million ounces of silver from 1.87 million tons of material, at an average grade reported to be over 2 kilograms silver equivalent per ton. These historical data underpin the district’s reputation as a high-grade silver-gold camp and provide context for Silver Tiger’s modern exploration and development work.

Geology and Mineralization Styles

The El Tigre deposit is described as a series of high-grade epithermal veins and broader mineralized zones controlled by a north-south trending structural corridor cutting andesitic and rhyolitic tuffs of the Sierra Madre Volcanic Complex. The veins dip steeply to the west, are typically about 0.5 metres wide and can locally reach widths of up to 5 metres. The veins, structures and mineralized zones outcrop at surface and have been traced for more than 5 kilometres along strike in the brownfield exploration area.

Silver Tiger’s work has identified several key mineralized components at El Tigre:

• High-grade veins – including the historically mined El Tigre, Seitz Kelley (also referred to as Seitz Kelly), and Sooy veins, as well as additional veins such as Caleigh, Benjamin, Protectora and Fundadora. Many of these veins reach strike lengths of kilometres and host high-grade silver equivalent intercepts in drilling and sampling.
• Stockwork Zone – a near-surface stockwork-style mineralized zone comprising Footwall, Hanging Wall and higher-grade “Keel” zones. Drilling has outlined broad intervals of gold-equivalent and silver-equivalent mineralization, which form the basis of the open pit development concept.
• Sulfide Zone – a high-grade zone hosted at the contact between basement granite and younger volcanics. The company reports that this zone extends hundreds of metres along strike and dip, with thicknesses of a few to tens of metres, and contains silver and base metal sulfides.
• Shale Zone – a silver- and base metal-rich zone occurring where veins intersect a carbonate/shale layer, extending tens of metres from the veins and along strike for significant distances.

These mineralized styles together support both open pit and underground development concepts at El Tigre, as described in the company’s technical reports and news releases.

Resource Estimates and Technical Studies

Silver Tiger has completed multiple Mineral Resource Estimates (MREs) for El Tigre, including a maiden resource in 2017 and subsequent updates in 2023 and 2024. An updated NI 43-101 compliant Mineral Resource Estimate and a Preliminary Economic Assessment (PEA) for the open pit were released in 2023, followed by an updated MRE and a Preliminary Feasibility Study (PFS) in October 2024, with the related technical report filed in December 2024.

The 2024 PFS focuses on the conventional open pit mining economics of the Stockwork Mineralization Zone. The company reports a 10-year mine life for the open pit scenario, with payable silver equivalent and gold equivalent production, and details operating and capital cost estimates, strip ratio, process recoveries, and sensitivity analyses to metal prices and costs. The PFS also references a low strip ratio and mineralization starting at surface, and it notes that three years of production in the Phase 1 starter pit are in the Proven category.

The updated 2024 MRE, as summarized in company disclosures, indicates a total Measured and Indicated Mineral Resource of 200 million silver equivalent ounces grading 92 g/t AgEq contained in 68.0 million tonnes, and an Inferred Mineral Resource of 84 million silver equivalent ounces grading 180 g/t AgEq in 14.5 million tonnes. The company also highlights an Out-of-Pit Mineral Resource in the main veins, which is intended to be evaluated in a separate underground PEA.

Open Pit and Underground Development Concepts

Silver Tiger describes El Tigre as a project with both open pit and underground potential. The open pit concept is centered on the near-surface Stockwork Zone, which includes Footwall, Hanging Wall and Keel zones. PEA-level and PFS-level work have focused on optimizing a starter pit and expanding resources in the broader pit shell. The company reports that PFS drilling expanded known mineralization in the Stockwork Zone, increased resource confidence in the potential starter area, and completed metallurgical and geotechnical studies to support mine design.

In parallel, Silver Tiger is advancing an underground concept based on high-grade veins and the Sulfide and Shale Zones. The company has commenced an underground drilling campaign from a rehabilitated haulage way, targeting mineralization located as close as approximately 40 metres from this existing underground development. These high-grade zones are described as forming a crucial component of a planned underground PEA, which the company has indicated it expects to complete in the first half of 2025.

Exploration Footprint and Targets

Silver Tiger commenced work on the El Tigre Project in 2017 and reports having drilled over 150,000 metres on the property, with a substantial portion of that drilling completed since 2020. Exploration has defined both brownfield and greenfield targets across the district.

Key exploration areas described by the company include:

• El Tigre Mine Veins – the El Tigre, Seitz Kelly and Sooy veins, which contain the majority of the company’s Measured and Indicated Resource and are a focus of technical studies.
• Northern Veins – including Fundadora, Protectora, Caleigh and Benjamin, which are considered brownfield targets. These veins are described as faulted offsets of the main mine veins, exhibiting similar structure, mineralogy, grades and orientations. Surface mapping, underground workings, channel sampling and drilling have confirmed significant strike lengths and high-grade intercepts.
• Southern Veins – including Lluvia de Oro, La Mancha and El Toro, which are characterized as greenfield targets with mapped veins, historic workings and high-grade sampling but limited or no drilling to date. These veins are hosted in the El Tigre Formation, the same permissive host for the Stockwork Zone.

The company notes that only a portion of the property has been explored to date and that exploration potential exists both down dip and along strike from known mineralization. It has disclosed an exploration target range in terms of tonnes and silver equivalent grade, emphasizing the potential for additional near-mine resources.

Permitting and Project Advancement

Silver Tiger reports that it has received all required approvals and permits from the Mexican Federal Environmental Department (SEMARNAT) to construct the El Tigre Stockwork Zone silver-gold project in Sonora, Mexico. With these approvals in place, the company has stated that it is ready to advance the project towards construction for the open pit component, while it continues technical work and financing discussions.

The company has also indicated that it is engaged in negotiations and due diligence with potential lenders to secure project financing for the open pit portion of El Tigre. In its communications, Silver Tiger positions the completion of the PFS and the receipt of key permits as important milestones on the path to a construction decision.

Corporate and Capital Markets Profile

Silver Tiger Metals Inc. is listed on the TSX Venture Exchange under the symbol SLVR and trades on the OTCQX market in the United States under the symbol SLVTF. The company describes itself as having raised significant capital through syndicated bought deal financings, with participation from precious metals-focused institutional investors. It frequently presents at mining and investment conferences, and uses platforms such as VRIFY to share technical information, 3D models and virtual site tours of the El Tigre Project with investors.

ESG and Technical Standards

Across its disclosures, Silver Tiger emphasizes that environmental, social and governance considerations are core priorities. The company highlights the role of experienced technical consultants and Qualified Persons under National Instrument 43-101 in preparing its Mineral Resource Estimates, Preliminary Economic Assessment and Preliminary Feasibility Study. It also describes detailed quality assurance and quality control procedures for drilling, sampling and assaying, including the use of certified reference materials, blanks and duplicates, and independent laboratories.

Key Focus Areas for Investors

For investors researching SLVTF stock, the company’s communications suggest several focal points:

• The scale and grade of the El Tigre Mineral Resource Estimates and how they evolve with additional drilling.
• The economics, mine life and sensitivities outlined in the 2024 Preliminary Feasibility Study for the open pit Stockwork Zone.
• Progress on the planned underground PEA focused on high-grade veins and the Sulfide and Shale Zones.
• Exploration results from the Northern and Southern Veins and their potential to add resources near existing infrastructure.
• Permitting status, project financing efforts and steps toward a construction decision for the open pit operation.