HALIFAX, NOVA SCOTIA / ACCESSWIRE / May 20, 2020 /Silver Tiger Metals Inc. (“Silver Tiger” or the “Company”) (TSXV:SLVR) commencedtrading on the TSXV today under the trading symbol “SLVR“. The Company previously announced that it was changing its name from Oceanus Resources Corporation to Silver Tiger Metals Inc. and its trading symbol from “OCN” to “SLVR”. There is no change in the share capital of the Company. The Company’s new CUSIP number is 82831T109 and its new ISIN number is CA82831T1093. No further action is required by existing shareholders with respect to the name change. Certificates representing common shares of the Company will not be affected by the name and symbol change and will not need to be exchanged. The Company’s website is www.silvertigermetals.com.
CEO, Glenn Jessome states, “after delivering our maiden 43-101 compliant resource estimate by drilling the vein halo around the high-grade underground veins of the historic El Tigre mine, it is now time to get on with drilling the kilometers long northern and southern unmined vein extensions of the old mine on our 35 km, 28,000 ha, district size property in Sonora, Mexico. The historic El Tigre mine produced over 200 million silver equivalent ounces at an average grade of over 2 kgs per ton from 1903 to 1938. It is this tenor of grade which has the Silver Tiger exploration team biting at the bit to get back drilling at El Tigre.”
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About Silver Tiger
Following the completion of the maiden El Tigre resource estimation (the full NI 43-101 technical report is posted to the Company’s website at www.silvertigermetals.com and can also be accessed on SEDAR at www.sedar.com) the Company directed its exploration efforts at identifying other areas of silver-gold mineralization across the expansive property holdings (28,414 hectares). The Company’s prospecting and mapping program identified in excess of 10 kilometers of favorable host stratigraphy (i.e. the El Tigre formation) with several areas of mineralization identified to the south, east and north-east of the old El Tigre Mine. The El Tigre formation is the rock package that hosts the historic El Tigre Mine, which operated from 1903 to 1938, and was reported to have produced a total of 353,000 ounces of gold and 67.4 million ounces of silver from 1.87 million tonnes averaging 7.54 g/t gold and 1,308 g/t silver (Steven D. Craig, B.A., M.Sc., P. Geo. 2012).
The Company’s drilling completed after filing its’ 43-101 compliant resource estimate intersected similar-style silver-gold mineralization in the El Tigre formation at the Protectora, Caleigh and Fundadora areas to the north of the old mine, as well as to the south, past Gold Hill. Drilling to the north of the old mine by the Company returned the following impressive silver-gold intercepts:
Notes to Table:
(1) True width has not been calculated for each individual intercept, but true width is generally estimated at 75-90% of drilled width. Metallurgical recoveries and net smelter returns are assumed to be 100%.
(2) Silver Equivalent (“AgEq75”) ratio based on silver to gold price ratio of 75:1 Ag:Au.
These diamond drill holes were some of the last holes drilled by the Company with no follow up drilling in this area having been undertaken. The Company intends to recommence drilling these unmined Northern high-grade vein extensions.
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President and CEO
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This News Release includes certain “forward-looking statements”. All statements other than statements of historical fact included in this release, including, without limitation, statements regarding potential mineralization, resources and reserves, the ability to convert inferred resources to indicated resources, the ability to complete future drilling programs and infill sampling, the ability to extend resource blocks, the similarity of mineralization at El Tigre to the Ocampo mine, exploration results, and future plans and objectives of Oceanus, are forward-looking statements that involve various risks and uncertainties. Forward-looking statements are frequently characterized by words such as “may”, “is expected to”, “anticipates”, “estimates”, “intends”, “plans”, “projection”, “could”, “vision”, “goals”, “objective” and “outlook” and other similar words. Although Oceanus believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, there can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from Oceanus’s expectations include risks and uncertainties related to exploration, development, operations, commodity prices and global financial volatility, risk and uncertainties of operating in a foreign jurisdiction as well as additional risks described from time to time in the filings made by Oceanus with securities regulators.