El Tigre Silver Corp. (the "Company" or "El Tigre") is pleased to report that it has signed a contract with MAJOR DRILLING DE MEXICO, S.A. DE C.V. ("Major Drilling") and has mobilized a core drilling machine and associated equipment to its 431 square kilometer El Tigre silver-gold property in northern Sonora, Mexico. Drilling will commence the first week of January 2013. The Company is fully funded to complete this next phase of drilling.
El Tigre has conducted exploration drilling since 2011 over the highly productive El Tigre vein system. Drilling has more recently focused on the southern 1.2 kilometer portion of the vein system in an area called Gold Hill where a disseminated gold halo around the El Tigre vein was discovered. The original plan for the 2012 program was to drill 5000 meters in 25 holes. That drilling program was divided into two phases with the first phase completed in June with 12 holes for a total of 2293 meters and the drilling that will commence in January is the second phase and is planned for 2700 meters.
The second phase of drilling now has the benefit of new field work that has identified a disseminated target in the foot wall of the El Tigre vein system. Drilling will test this new target, which could expand the overall width of the targeted gold zone.
Current plans for the 2013 program include a total of 5000 meters of drilling 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 Mula Mountain to the north and Gold Hill to the south. An update to the Company's NI-43-101 technical report, based on the drill holes completed to date and the 2013 holes, is expected to report gold and silver resources. The technical report is scheduled for completion in the second quarter of 2013.
Work has been underway at the project site constructing new access roads and drill sites across the Gold Hill zone to facilitate fan drilling and rock-saw channel sampling on road cuts. Major Drilling has stationed its drilling equipment at the El Tigre camp. This equipment will then be available to be relocated to the Gold Hill target area once work commences in early January 2013. Major Drilling was the drilling contractor used for the 2011 program.
Stuart Ross, President and CEO stated, "Our 2013 exploration program will provide information which will allow for a complete revision of our NI 43-101 Technical Report. For the first time, the company will be able to measure its exploration success with reported resources."
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.