Tiger Gold – Ceibal Drilling Intercepts 685m at 0.6 g/t Au & 568m at 0.6 g/t Au Expanding Resources
Summary
Ceibal drill holes returned from-surface intercepts up to 685 metres at 0.6 g/t Au (grams per tonne), hinting at a system to rival neighboring Tesorito.
Management is drilling to roughly double resources past 4 million ounces, targeting an updated resource estimate and PEA (preliminary economic assessment) in Q1 2027.
Three pending 200-metre step-out holes (drilled outward to test a deposit's extent) will reveal whether Ceibal is larger than current drilling shows.
Near-surface higher-grade veins inside a low-grade halo could hold the strip ratio (waste moved per ore mined) at or below Tesorito's 0.5-to-1.
Beyond Ceibal, management points to porphyry potential at depth, the untested Chuscal gold-copper target, and 500,000 historic ounces at Dos Quebradas.
Robert Vallis's takeaways
- Top takeaway Argues the long, fully mineralized Ceibal intercepts show a deposit that could match or exceed Tesorito in scale and possibly grade, anchoring his thesis that Tiger Gold can double both its resource to over 4 million ounces and its production potential.
- Frames 2026 as the year to materially grow resources and says the company is deliberately 'forcing a re-rate' through catalysts rather than waiting for an organic one, calling the value proposition astounding with the existing PEA implying $1.2 billion at $3,700 gold.
- Lays out a staged path of a consolidated resource and updated PEA in Q1 2027, pre-feasibility from H2 2027, then feasibility and permitting, and expects most new ounces to land in the indicated category so engineering is not held up.
- Argues Ceibal is a low-grade porphyry-halo deposit overprinted by higher-grade epithermal veins and closer to surface than Tesorito, making the low strip ratio and efficient material movement key profit enablers.
- Advocates a sequenced 'peeling the onion' exploration strategy: finish Ceibal resource drilling by late October 2026, drill Chuscal with results around year-end, then test depth targets under the deposits and the fault-bounded corridor to the northeast.
Shad Markowitz's takeaways
- Top takeaway Argues Tiger Gold's roughly $70 million market cap looks out of step with its ~2 million defined ounces, existing PEA and expansion plans, comparing it with drill plays at similar valuations that have no ounces, economics or growth path.
- Structures the interview around Ceibal's expansion, the ~500,000-ounce historic resource to the northwest and the untested northeast fault corridor, and points listeners to a project map published alongside the interview.