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El Tigre, the Lucky Tiger


March 9, 2010

The Wallace Street Journal

 

By David Bond, Editor
Silverminers.com

El Tigre, the Lucky Tiger

Wallace, Idaho " An historic silver producer in Sonora State, Mexico, becomes available to investors at the market open Tuesday, 9 March, when trading resumes in El Tigre Silver Corporation.

Shares in ELS will open expressing a ratio of more than 6 ounces, or $100 worth of silver, for each share, which is expected to open for somewhere between 35 and 45 cents Canadian. Cents, not dollars.

El Tigre is offering the amongst the highest per-share leverage to silver of anyone operating in Mexico. It's their intent to verify El Tigre's historic data, prove it up to Canadian N.I. 43-101 standards, and move this project forward quickly and efficiently.

El Tigre Silver Corp. hits the chute with $1.69 million in the bank and a market cap of about $10 million.

Discovered in the early 1900s by the Lucky Tiger Combination Gold Mining Co., the El Tigre properties produced approximately 75 million ounces of silver from 1903 to 1938 at grades ranging between 40 to 50 ounces per tonne on four levels along three veins down to the 700-foot depth. The El Tigre concession comprises 770 acres and is located about 120 km south and east by road from Douglas, Arizona.

In 1981, Anaconda Mineral Co. and concession-owner Minera Talaman S.A. commissioned a district-wide evaluation and exploration program.

Anaconda's work produced an historic resource estimate of 285,000 tons of 257 grammes (9.06 ounces) per tonne of silver, and 2.97 grammes/tonne in the Aguila-Fundador vein structure, and an additional 117 million ounces of silver in the adjacent stockworks by the Kelley-Seitz, El Tigre and Sooy veins. These historic estimates were derived from 7,812 meters of drilling in 22 holes, plus surface and aerial geological mapping.

Immediate work planned for the district by ELS in 2010 include an N.I. 43-101-compliant technical report; a full review of historical data on the property; surface geochemical sampling and assay analysis preparatory to diamond drilling; sampling and mapping of known mineralized underground workings; sampling and mapping of all newly targeted zones; rehabilitation of existing workings; and construction of a base camp.

This deal has been in the works for some months, and has involved the hard efforts of folks from Vancouver to Carson City. A few years back, we visited El Tigre with a group of Swiss investors. There is much to like about this property, from its available infrastructure to its rich history. We know of several concentrators in the vicinity of El Tigre. Shares in ELS should hit the ground running this week.