The El Tigre Project is located in Sonora, Mexico in the prolific Sierra Madre Occidental which hosts a number of the world’s largest gold and silver deposits. Oceanus completed the acquisition of El Tigre in November, 2015 and began exploration in February, 2016. In May, 2017 Oceanus completed an 11,923 meter infill drilling program (62 drill holes) to support the Company’s maiden resource estimation for El Tigre which is expected to be released by end of June, 2017.
The Oceanus infill drilling for the resource estimate focused on the open pit heap leach potential above the old El Tigre Mine and returned consistent wide zones of gold and silver mineralization that demonstrate potential as a bulk-tonnage target. The later part of the 2017 drilling program successfully targeted the southern and northern extensions of the El Tigre mineralization. Step-out drill results for hole ET-17-144 located 800 meters north, and hole ET-17-140 located 400 meters to the south, of the resource area were significant. Additionally, mapping and prospecting several kilometers to the north and south of the old El Tigre Mine has identified new gold-silver targets.