Tiger Gold Expands Ceibal Discovery With Near-Surface Gold Intercepts
Tiger Gold Drills 120 m Step-out at Ceibal and Intersects 226 m @ 0.6 g/t Au, Including 10 m @ 3 g/t Au
Vancouver, British Columbia — Tiger Gold Corp. (TSXV: TIGR) (FSE: D150) (OTCQB: TGRGF) (“Tiger” or the “Company“) is pleased to report drill results from the first hole of its ongoing 5,000-metre diamond drilling program at the Ceibal target at its Quinchía Gold Project in Colombia’s prolific Mid-Cauca gold belt. Drilling at Ceibal forms part of Tiger’s broader 20,000-metre drill program at its Quinchía Gold Project, which is ongoing with three diamond drill rigs active across the project.
Highlights
CEDDH-009 intersected:
- 52 m at 0.7 g/t Au from surface
- including 12 m at 1.5 g/t Au from surface
- 226 m at 0.6 g/t Au from 76 m downhole
- including 10 m at 3.0 g/t Au
- Three diamond drill rigs are active across the Quinchía Gold Project, including two at Ceibal, with additional assays pending
Tiger’s first results from Ceibal represent a strong and exciting start to our drill program. CEDDH-009 is a 120-metre step-out hole. It returned a broad 226-metre interval of near-surface gold mineralization grading 0.6 g/t Au, including a higher-grade 10-metre interval grading 3 g/t Au hosted within magmatic breccia. These results confirm the presence of a significant mineralized system and highlight the potential of this high-priority target. We expect a steady flow of results from Ceibal, Tesorito, and Dos Quebradas in the coming weeks.
— Robert Vallis, President & CEO, Tiger Gold Corp.
The results reported in this news release are summarized in Tables 1 to 3. Drillhole locations are shown in Figure 1, and Figure 2 presents a map of the Quinchía Gold Project deposits and prospects. All intervals are reported as downhole core lengths. True widths have not been determined due to the early stage of exploration. A cross section will be presented in a subsequent news release once assay results from CEDDH-010 are available and CEDDH-012 is complete.
Figure 1: Ceibal Drillhole Collar Locations Plan Map
Ceibal Target Overview
Ceibal lies approximately 1 kilometre south of the Miraflores deposit and 1 kilometre southwest of the Tesorito deposit. The target area is coincident with a sub-circular combined Au-Mo surface geochemical anomaly that has an approximate 800-metre by 600-metre footprint (Figure 1). This surface anomaly defines the exploration area for Tiger’s initial 5,000-metre drill program.
Drilling at Ceibal has intersected mineralization over an apparent strike length of at least 300 metres and an apparent average width of approximately 300 metres. Mineralization has been traced to depths of up to 500 metres below surface within andesite-dacite porphyry, porphyritic diorite, and magmatic-hydrothermal breccia host rocks. The geometry, true thickness, lateral extent, and continuity of mineralization at Ceibal have not been defined by drilling. The mineralized corridor remains open to the north-northwest, the south-southeast, and to the southwest.
CEDDH-009 Returns 226 m at 0.6 g/t Au, Including 10 m at 3.0 g/t Au
CEDDH-009 extends the long, near-surface gold mineralization previously drilled at Ceibal, including 500 m at 0.5 g/t Au from surface in CEDDH-001 and 579.1 m at 0.5 g/t Au from 7.5 m downhole in CEDDH-002, which are located approximately 120 m northeast and 260 m east-northeast of CEDDH-009, respectively.
From surface, CEDDH-009 returned 52 m at 0.7 g/t Au in dacite porphyry and intermineral diorite, including a 12 m higher-grade interval at 1.5 g/t Au from surface. From 76 m downhole, CEDDH-009 returned 226 m at 0.6 g/t Au, predominantly in dacite porphyry with magmatic breccia and subordinate intermineral diorite. A 10 m higher-grade interval of 3.0 g/t Au within this composite, from 94 m downhole, is entirely hosted within magmatic breccia. Magmatic breccias are of particular interest because they can act as conduits for mineralizing fluids and, in some porphyry systems, are associated with higher-grade zones. A third composite of 46 m at 0.2 g/t Au from 314 m downhole is entirely in dacite porphyry.
Approximately 80 metres northeast of CEDDH-001, Tiger recently completed CEDDH-010 to a drilled length of 707.7 metres. CEDDH-010 intersected dacite porphyry over most of its drilled length, with intervals of magmatic breccia and minor late and intermineral diorite phases. Approximately 70 metres further northeast of CEDDH-010, Tiger is currently drilling CEDDH-012. While the host-rock assemblages logged to date in CEDDH-009, CEDDH-010, and CEDDH-012 appear consistent along the drill line, assays for CEDDH-010 are pending and drilling at CEDDH-012 is in progress. The grade and continuity of mineralization between drillholes have not been demonstrated.
Table 1: CEDDH-009 Composite Assay Results
| Drillhole ID | From (m) | To (m) | Interval (m) | True Width (m) | Au (g/t) | Ag (g/t) | Cu (%) | Mo (ppm) |
|---|---|---|---|---|---|---|---|---|
| CEDDH-009 | 0 | 52 | 52 | Unknown | 0.7 | 1.0 | 0.08 | 5 |
| incl. | 0 | 12 | 12 | Unknown | 1.5 | 0.6 | 0.13 | 4 |
| and | 76 | 302 | 226 | Unknown | 0.6 | 1.0 | 0.05 | 10 |
| incl. | 94 | 104 | 10 | Unknown | 3.0 | 2.4 | 0.10 | 21 |
| and | 314 | 360 | 46 | Unknown | 0.2 | 0.3 | 0.01 | 12 |
- All composite intervals are reported over a minimum downhole length of 10 m at a minimum length-weighted grade of 0.2 g/t Au, allowing for up to 10 m of consecutive internal dilution below cut-off.
- All reported intervals refer to downhole core lengths. True widths are unknown at this time.
- Higher-grade intervals reported as any interval over a minimum length of 5 m at a minimum length-weighted grade of 1 g/t Au, allowing for up to 5 m of consecutive internal dilution below cut-off. No assays were capped.
Previously Reported Ceibal Drilling Results
Between 2021 and 2022, a prior operator, LCL Resources Limited (“LCL”), completed 8 HQ- and NQ-diameter diamond drillholes (CEDDH-001 through CEDDH-008) totalling 5,433.76 metres at the Ceibal target area across two programs. The composite intervals returned by the LCL programs are summarized in Table 2, with select highlights including:
- CEDDH-001: 500 m @ 0.5 g/t Au from surface
- CEDDH-002: 579.1 m @ 0.5 g/t Au from 7.5 m downhole, including 6 m @ 1.1 g/t Au and 6 m @ 1.5 g/t Au
- CEDDH-003: 466 m @ 0.4 g/t Au from surface, including 5.7 m @ 1.1 g/t Au
- CEDDH-004: 362 m @ 0.4 g/t Au from 2 m downhole, including 6 m at 1.5 g/t Au and 6 m @ 1.1 g/t Au
- CEDDH-005: 351.6 m @ 0.4 g/t Au from 160.7 m downhole
- CEDDH-006: 248.3 m @ 0.4 g/t Au from 538 m downhole
CEDDH-009 and the previously reported drilling outline a porphyry-style gold target at Ceibal with long, near-surface gold mineralization intersected in multiple drillholes across the target area. The Ceibal target has now been tested by nine drillholes totalling approximately 5,900 metres, providing a strong foundation for Tiger’s ongoing 5,000-metre drill program. The geometry, true thickness, lateral extent, and continuity of mineralization at Ceibal have not been defined by drilling.
Table 2: Previously Reported Ceibal Composite Assay Results
| Drillhole ID | From (m) | To (m) | Interval (m) | Au (g/t) | Ag (g/t) | Cu (%) | Mo (ppm) |
|---|---|---|---|---|---|---|---|
| CEDDH-001 | 0.0 | 500.0 | 500.0 | 0.5 | 1.0 | 0.05 | 14.5 |
| CEDDH-002 | 7.5 | 586.6 | 579.1 | 0.5 | 0.9 | 0.06 | 25.6 |
| incl. | 208.0 | 214.0 | 6.0 | 1.1 | 1.7 | 0.10 | 16.2 |
| incl. | 578.0 | 584.0 | 6.0 | 1.5 | 1.1 | 0.09 | 38.7 |
| CEDDH-003 | 0.00 | 466.0 | 466.0 | 0.4 | 0.5 | 0.03 | 14.0 |
| incl. | 134.5 | 140.2 | 5.7 | 1.1 | 0.7 | 0.08 | 52.1 |
| and | 478.0 | 488.0 | 10.0 | 0.3 | 0.3 | 0.02 | 5.0 |
| and | 554.0 | 584.0 | 30.0 | 0.3 | 0.2 | 0.02 | 2.2 |
| CEDDH-004 | 2.0 | 364.0 | 362.0 | 0.4 | 0.9 | 0.05 | 11.8 |
| incl. | 28.0 | 34.0 | 6.0 | 1.5 | 1.4 | 0.05 | 5.3 |
| incl. | 42.0 | 48.0 | 6.0 | 1.1 | 1.1 | 0.04 | 13.1 |
| and | 400.0 | 510.9 | 110.9 | 0.4 | 0.8 | 0.03 | 24.1 |
| CEDDH-005 | 6.0 | 138.0 | 132.0 | 0.3 | 1.0 | 0.04 | 8.7 |
| and | 160.7 | 512.30 | 351.6 | 0.4 | 0.9 | 0.05 | 18.4 |
| CEDDH-006 | 11.5 | 50.0 | 38.5 | 0.2 | 0.4 | 0.02 | 15.3 |
| and | 88.0 | 155.0 | 67.0 | 0.2 | 0.6 | 0.04 | 11.8 |
| and | 174.0 | 225.55 | 51.55 | 0.2 | 0.6 | 0.05 | 104.9 |
| and | 310.0 | 526.0 | 216.0 | 0.3 | 0.7 | 0.04 | 5.7 |
| and | 538.0 | 786.3 | 248.3 | 0.4 | 0.4 | 0.03 | 33.7 |
| CEDDH-007 | 50.0 | 60.0 | 10.0 | 0.2 | 0.7 | 0.04 | 11.8 |
| and | 203.0 | 220.0 | 17.0 | 0.2 | 0.9 | 0.04 | 6.9 |
| and | 402.0 | 444.0 | 42.0 | 0.3 | 0.9 | 0.04 | 4.7 |
| CEDDH-008 | No reportable composite intervals | ||||||
- All composite intervals are reported over a minimum downhole length of 10 m at a minimum length-weighted grade of 0.2 g/t Au, allowing for up to 10 m of consecutive internal dilution below cut-off.
- All reported intervals refer to downhole core lengths. True widths are unknown at this time.
- Higher-grade intervals are reported as any interval over a minimum length of 5 m at a minimum length-weighted grade of 1 g/t Au, allowing for up to 5 m of consecutive internal dilution below cut-off. No assays were capped.
- The assay results in this table were previously reported by LCL Resources Limited in news releases dated July 8, 2021, November 22, 2021, and June 28, 2022.
Table 3: Drillhole Collar Information (EPSG:32618)
| Drillhole ID | Easting (m) | Northing (m) | Elevation (m asl) | Length (m) | Azimuth (°) | Dip (°) |
|---|---|---|---|---|---|---|
| CEDDH-001 | 422,566 | 583,937 | 1,283 | 500.0 | 229 | -61.5 |
| CEDDH-002 | 422,709 | 583,976 | 1,277 | 586.6 | 217 | -59.3 |
| CEDDH-003 | 422,791 | 583,839 | 1,242 | 677.55 | 230 | -61.3 |
| CEDDH-004 | 422,537 | 583,981 | 1,277 | 510.9 | 235 | -64.2 |
| CEDDH-005 | 422,400 | 583,780 | 1,203 | 512.3 | 52 | -51.2 |
| CEDDH-006 | 422,803 | 583,993 | 1,279 | 786.3 | 224 | -70.0 |
| CEDDH-007 | 422,677 | 584,096 | 1,336 | 900.2 | 25 | -70.1 |
| CEDDH-008 | 423,057 | 584,190 | 1,409 | 959.91 | 229 | -75.6 |
| CEDDH-009 | 422,480 | 583,855 | 1,245 | 462 | 228 | -60 |
| CEDDH-010 | 422,625 | 583,990 | 1,309 | 707.7 | 229 | -60 |
| CEDDH-011 | 422,645 | 583,910 | 1,275 | 682.35 | 230 | -60 |
| CEDDH-012 | 422,680 | 584,030 | 1,313 | in progress | 228 | -65 |
Figure 2: Quinchía Gold Project Deposits and Prospects
Geological Setting and Mineralization
The Ceibal target area is located within Tiger’s Quinchía Gold Project in the Mid-Cauca gold belt of Colombia, a Miocene magmatic-hydrothermal arc that hosts clusters of porphyry, breccia, and epithermal Au-Cu deposits and prospects. At the project scale, Ceibal lies approximately 1 kilometre south of the Miraflores deposit and 1 kilometre southwest of the Tesorito deposit and is coincident with a sub-circular Au-Cu-Mo surface geochemical anomaly with an approximate footprint of 800 metres by 600 metres.
Ceibal shares key similarities with Tesorito. These include its location within the Marmato Fault Corridor, a surface geochemical anomaly that is broadly comparable in size and tenor, and porphyry-style mineralization hosted in andesitic-dacite and intrusive units. For reference, the Tesorito deposit hosts an open-pit Inferred Mineral Resource of 104 million tonnes at 0.47 g/t Au for 1.57 million ounces of gold, and 0.58 g/t Ag for 1.96 million ounces of silver. Mineralization at Tesorito is not necessarily indicative of mineralization at Ceibal.
At the property scale, the local stratigraphy comprises Cretaceous Barroso Formation basalts, Oligocene-Miocene Amagá Formation sedimentary units, and a suite of Miocene hypabyssal intrusions spatially associated with mineralization. Within the Ceibal target area, the principal Miocene units are andesite-dacite porphyry bodies and porphyritic diorites, including intra-mineral and late phases, together with magmatic-hydrothermal intrusive breccias. A near-surface weathered profile comprising saprolite and Quaternary alluvial and colluvial cover is locally developed.
The Ceibal target area is interpreted to be structurally controlled by the Marmato Fault Corridor, a component of the regional Cauca-Romeral fault system. Dominant NNE-trending structures are interpreted as left-lateral oblique-slip faults with a reverse component and likely control lithological contacts, the emplacement of intrusive bodies, and the geometry of mineralized corridors. Secondary NNW and E-W structures are interpreted to be younger and more local and locally host intermediate-sulphidation epithermal veins.
Based upon observations from CEDDH-009 and prior drilling at Ceibal, mineralization is interpreted as gold porphyry-style, with subordinate silver, copper, and molybdenum, hosted predominantly within the Miocene andesite-dacite porphyry, porphyritic diorite, and magmatic-hydrothermal breccia units. Gold occurs as disseminated and stockwork-style mineralization, associated with QM- and M-type veining. Alteration includes chlorite-sericite overprinting potassic and propylitic assemblages, with argillic and supergene textures locally developed in the near-surface weathered profile. Sulphides include pyrite, with lesser chalcopyrite and molybdenite. Magnetite is ubiquitous as disseminations, patches, and M-type veinlets. The causative intrusive porphyry has not yet been intersected at Ceibal.
Technical Details
About Tiger Gold Corp.
Tiger is a growth-oriented gold exploration and mine development company focused on advancing its flagship asset, the Quinchía Gold Project, a multi-million-ounce gold project in the prolific Mid-Cauca belt of Colombia, over which Tiger holds an option to acquire a 100% interest. Tiger is led by a multidisciplinary team of exploration geologists, mine builders, engineers, metallurgists, ESG specialists, and corporate finance professionals with a track record of exploration success, project advancement, and bringing mines into production at globally recognized mining companies including AngloGold Ashanti, Barrick Mining, Yamana Gold, Detour Gold, NewGold, Pretium Resources, and others.
For further information, please contact:
Robert Vallis
President, CEO & Director
Kin Communications — Investor Relations
+1 (604) 684-6730 | tigr@kincommunications.com
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