Tiger Gold Aggressively Drilling Ceibal Target In Preparation For MRE & PEA Updates In Q1 2027

Summary

Tiger Gold’s operating plan centers on expanding and de-risking its Quinchía project in Colombia, with near-term work focused on the Ceibal, Tesorito, and Miraflores deposits. CEO Robert Vallis described a two-track strategy: advance the known deposits toward updated economic studies and permitting while continuing exploration for additional resources.

Strategy and execution playbook

• Advance the core project in stages: Complete resource drilling, update the mineral resource estimate (MRE) and preliminary economic assessment (PEA), then move into a pre-feasibility study (PFS) and permitting.
• Run exploration in parallel: Continue deep drilling and test regional targets even after the initial Ceibal resource is defined. Management described this as “peeling back the layers of an onion”—prioritizing targets closest to planned infrastructure and using new data to guide subsequent drilling.
• Use a data-driven rig plan: All three rigs were assigned to Ceibal during the current resource campaign. Afterward, the proposed sequence is one rig for a deep Ceibal hole, one for perimeter drilling, and one for the Chuscal target, followed by additional work north along a regional structural corridor.
• Pursue phased development: Management’s concept is to begin at a smaller production scale, generate cash flow, and use it to fund expansion rather than begin with a much larger initial capital commitment.
• Reduce execution risk progressively: The company plans to combine resource growth, engineering, metallurgical and environmental work, and permitting preparation. Management said Miraflores’ existing construction and operating permit may allow a permit-modification route, potentially shortening the permitting process.

Drilling and project development

• The interview highlighted hole CEDDH-022 at Ceibal, which intersected more than 450 metres at about 0.6 g/t gold from surface and ended in mineralization. Management characterized the broad, continuous mineralization as evidence of a substantial system, while noting that the resource remains open at depth.
• Hole CEDDH-029, a step-out about 175 metres southwest of CEDDH-022, was intended to test the mineralized footprint and its quality. Results were pending at the time of the interview.
• Management said deeper holes at Ceibal and Tesorito, reaching roughly 700–850 metres, had encountered continuing mineralization, locally higher grades, copper, and breccia. These observations underpin the plan for an initial approximately 1,200-metre deep hole at Ceibal after the current resource campaign.
• The drilling pattern may support a higher-grade starter pit at Ceibal, but management said more drilling and modeling are needed before confirming its size or grade. The interviewer raised a possible grade around 0.9–1 g/t; this was not presented as an established estimate.
• The company also plans to drill Chuscal and evaluate targets farther north, including fault intersections and areas with artisanal mining. Historical Dos Quebradas resources and other regional targets were described as later exploration opportunities, not part of the immediate priority.

Targets, metrics, and timelines

• Resource objective: Management is targeting approximately 3–4 million ounces across the project, roughly double the approximately 2 million ounces cited from the prior PEA. This is a target dependent on the upcoming resource work.
• Resource updates: Tesorito’s updated resource was targeted for early Q1 2027, with a new Ceibal resource targeted for mid-Q1 2027.
• Updated PEA: The plan is to combine Ceibal and Tesorito with Miraflores in an updated PEA during Q1 2027.
• Production scale: The updated project is intended to support a potential producer of 250,000–300,000 ounces per year over a mine life of more than 10 years. Management contrasted this with the prior PEA’s roughly 140,000 ounces per year for about 11 years.
• Phased production concept: Management discussed an initial operation of around 150,000 ounces per year, followed by expansion toward 250,000–300,000 ounces. It cited a preliminary initial-capital goal of roughly $400–600 million. These are planning targets, not finalized study results.
• PFS and permitting: PFS work was expected to begin around mid-2027 (approximately June or July), with completion targeted toward the end of that year. Permit submissions were targeted for early 2028, with management also describing the anticipated permitting window as late 2027 to early 2028.
• Metallurgy and engineering: Management said roughly 50% of Ceibal’s metallurgical testing had been completed, with further metallurgical, geotechnical, hydrogeological, and environmental work planned before the PEA is finalized.
• Processing concept: The preliminary concept is a centralized mill using conventional crushing, grinding, and CIL recovery. Tesorito’s reported waste-to-ore ratio was about 0.5:1; management hopes Ceibal may have similarly favorable characteristics, subject to further work.
• Economic-study assumptions: Management referenced a long-term gold-price assumption of $3,700/oz, an estimated $1.2 billion after-tax project value from the earlier PEA, and a potential updated value of at least $2 billion. These are management estimates and depend on future study results and assumptions.

Business implications

The company’s execution plan is designed to convert exploration results into a larger, more defined project without pausing regional discovery work. The central operational challenge is sequencing: establish sufficient resource confidence and engineering support for the updated PEA while continuing deeper and perimeter drilling that could expand the project before the PFS and permitting stages.

Management emphasized disciplined capital deployment and phased expansion, but the production, resource, valuation, and capital figures remain targets or projections rather than established outcomes.

Presenters and sources

• Interviewer: Robert (surname not clear in the subtitles), Goldfinger Capital.
• Guest: Tiger Gold CEO Robert Vallis. The subtitles render his surname as “Valdez”; the video metadata identifies him as Vallis.
• Source: Interview and statements attributed to Tiger Gold management.