Silver Tiger Sets Ambition to be a Leader in the Junior Mining Sector in the Transition to a Clean Economy
HALIFAX, September 2, 2021 - Silver Tiger Metals Inc. (TSXV:SLVR and OTCQX:SLVTF) ("Silver Tiger" or the "Corporation") today announces its ambition to become a global leader in the transition to a clean economy in the junior mining sector. Committed to creating long-term value for all its stakeholders, Silver Tiger grows its plans to embed Environmental, Social and Governance (ESG) principles and standards into its business strategy, operations, and management systems from the outset, aiming to move beyond compliance toward sustainable operational excellence.
Opportunities in the Clean Economy
Investing in sustainability during the early stages of a mining project can significantly improve socio-economic and environmental outcomes and can reduce the lifecycle impacts and costs of a project. As Silver Tiger's activities are currently pre-operational, there will not be a need to modify, retrofit or replace existing mining infrastructure in order to improve environmental and social outcomes.
Silver Tiger's CEO, Glenn Jessome, stated, "As silver becomes increasingly critical in the transition to a clean economy, Silver Tiger is well-positioned to be at the forefront of this growth opportunity." Glenn Jessome continued, "Silver offers tremendous investment opportunities in terms of its intrinsic and stable value. It is also an important strategic and industrial metal that serves a vital role in the development and growth of many lower-carbon technologies, including those supporting solar energy and the electric automotive industry."
Developing a Comprehensive ESG Strategy
Silver Tiger has established a board-level Safety, Environmental and Social Sustainability (SESS) committee that will oversee the development of a comprehensive ESG strategy over the next 12 months. The SESS Committee is responsible for ensuring that the company's business is conducted in ways that are principled, transparent and accountable to all stakeholders, including shareholders, employees, local communities, governments and the environment.
To progress its ambition to become a leader in ESG in the junior mining sector Silver Tiger plans to:
- identify and evaluate opportunities with the potential to tackle site-specific material ESG issues drawing on leading approaches to sustainability, such as the circular economy and net positive business models;
- identify feasible sustainable mining practices throughout all processes in the exploration and potential extraction, refinement and transport of metals. For example, low-carbon mining technologies that could allow Silver Tiger to set an ambitious greenhouse gas (GHG) target in line with international best practice;
- identify opportunities to reduce resource requirements, increase operational efficiencies, and support social and cultural priorities in the El Tigre region; and,
- evaluate innovative technologies, processes and operational models that could improve resource efficiency, diversify revenue streams, close material loops, improve diversity, equity and inclusion, improve health and safety and reduce or avoid negative externalities.
Aligning with Global Mining Standards
In addition to compliance with Mexico's environmental laws and regulations, Silver Tiger aims to implement best practices in international mining standards that are most relevant to its operations as a junior miner. The World Gold Council Responsible Gold Mining Principles, the protocols and indicators Toward Sustainable Mining (TSM) and the International Council on Mining and Metals (ICMM) will be considered to refine and strengthen Silver Tiger's approach to sustainable operational excellence and future ESG disclosures.
Silver Tiger aims to align with the TSM, specifically the TSM protocols and indicators for Water Stewardship, Energy and GHG Emissions Management, Tailings Management and Indigenous and Community Relationships. Considering the historic mining practices at El Tigre, Silver Tiger aims to achieve transparency and accountability around waste management informed by the Global Industry Standard on Tailings Management by the International Council on Mining and Metals.
In September 2021, Silver Tiger will release a comprehensive ESG Strategy Roadmap. This roadmap will outline the steps Silver Tiger will take to develop its ESG strategy over the next 12 months. In 2022 Silver Tiger will release a robust ESG strategy in line with its ambition to be a leader in the clean economy transition in the junior mining sector globally. This will include Silver Tiger's approach to sustainability reporting and ESG disclosures which will allow stakeholders to track Silver Tiger's progress towards achieving this ambition. Silver Tiger will explore leading global reporting frameworks, including the Sustainable Accounting Standards Board (SASB), the Task Force on Climate-Related Financial Disclosures (TCFD) and the Global Reporting Initiative (GRI) to develop its approach for disclosures based on its environmental, social and economic impact and best practice.
Silver Tiger has continued to drill throughout the rainy season at El Tigre. There are currently 4 drill rigs operating with a 5th drill rig in process of being added. Drilling is being conducted on the Sooy Vein, the Benjamin Vein and the Seitz Kelly Vein. Extensive mapping and sampling is also being conducted on the northern and southern ends of the property.
About the El Tigre Historic Mine District
Silver Tiger Metals Inc. is a Canadian company whose management has more than 25 years' experience discovering, financing and building large hydrothermal silver projects in Mexico. Silver Tiger's 100% owned 28,414 hectare Historic El Tigre Mining District is located in Sonora, Mexico. Principled environmental, social and governance practices are core priorities at Silver Tiger.
The El Tigre historic mine district is located in Sonora, Mexico and lies at the northern end of the Sierra Madre silver and gold belt which hosts many epithermal silver and gold deposits, including Dolores, Santa Elena and Las Chispas at the northern end. In 1896, gold was first discovered on the property in the Gold Hill area and mining started with the Brown Shaft in 1903. The focus soon changed to mining high-grade silver veins in the area with production coming from 3 parallel veins the El Tigre Vein, the Seitz Kelley Vein and the Sooy Vein. Underground mining on the middle El Tigre vein extended 1,450 meters along strike and was mined on 14 levels to a depth of approximately 450 meters. The Seitz Kelley Vein was mined along strike for 1 kilometer to a depth of approximately 200 meters. The Sooy Vein was only mined along strike for 250 meters to a depth of approximately 150 meters. Mining abruptly stopped on all 3 of these veins when the price of silver collapsed to less than 20¢ per ounce with the onset of the Great Depression. By the time the mine closed in 1930, it is reported to have produced a total of 353,000 ounces of gold and 67.4 million ounces of silver from 1.87 million tons (Craig, 2012). The average grade mined during this period was over 2 kilograms silver equivalent per ton.
The El Tigre silver and gold deposit is related to a series of high-grade epithermal veins controlled by a north-south trending structure cutting across the andesitic and rhyolitic tuffs of the Sierra Madre Volcanic Complex within a broad silver and gold mineralized prophylitic alteration zone developed in the El Tigre Formation that can be up to 150 meters wide. The veins dip steeply to the west and are typically 0.5 meter wide but locally can be up to 5 meters in width. The veins, structures and mineralized zones outcrop on surface and have been traced for 5.3 kilometers along strike in our brownfield exploration area. Historical mining and exploration activities focused on a 1.6 kilometer portion of the southern end of the deposits, principally on the El Tigre, Seitz Kelly and Sooy veins. The under explored Caleigh, Benjamin, Protectora and the Fundadora exposed veins continue north for more than 3 kilometers. Silver Tiger has delivered its maiden 43-101 compliant resource estimate and is currently drilling to update its resource estimate and publish a PEA.
VRIFY Slide Deck and 3D Presentation - Silver Tiger's El Tigre Project
VRIFY is a platform being used by companies to communicate with investors using 360° virtual tours of remote mining assets, 3D models and interactive presentations. VRIFY can be accessed by website and with the VRIFY iOS and Android apps.
Access the Silver Tiger Metals Inc. Company Profile on VRIFY at: https://vrify.com
The VRIFY Slide Deck and 3D Presentation for Silver Tiger Metals Inc. can be viewed at: https://vrify.com/explore/decks/492 and on the Corporation's website at: www.silvertigermetals.com.
For further information, please contact:
President and CEO
902 492 0298
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 Delores, Santa Elena and Chispas, exploration results, and future plans and objectives of Silver Tiger, 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 Silver Tiger 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 Silver Tiger'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 Silver Tiger with securities regulators.
SOURCE: Silver Tiger Metals Inc.
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