Mike Fagan,
Editor
March 17, 2022
Outcrop Silver & Gold Corp. (TSX-V: OCG)(OTC: OCGSF) — currently trading around C$0.20 per share — has added two new high-grade vein shoots at the flagship, 100%-owned Santa Ana silver-gold project in Tolima, Colombia, where a third drill rig is being mobilized.
The addition of the La Abeja and La Isabela vein shoots — in just the first two targets drill-tested in the newly-permitted concessions — brings the total to 10 shoots in the initial maiden resource area at Santa Ana.
Drilling in the La Abeja shoot — 300 meters north along the Dorado vein — intercepted 2.2 meters of 2,790 grams per tonne silver equivalent (g/t AgEq) and 1.2 meters of 1,362 g/t AgEq.
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Outcrop Silver & Gold CEO, Joe Hebert — whom you’re about to hear from directly in our exclusive interview — commented via press release:
“Outcrop continues to add to its inventory of high-grade shoots by generating and testing high-quality targets on our regional-scale property. Every shoot discovered expands the potential resource area which will be incorporated into a compliant maiden resource report targeted towards the end of 2022.”
Outcrop is currently in the midst of an 18,000-meter drill program at Santa Ana across 10 vein shoots, all of which remain open along surface and at-depth. And as noted, those 10 shoots will form the basis of the company’s first-pass maiden resource report slated for release later this year.
That forthcoming report is expected to represent less than one-fourth of the veins mapped and projected from only 6,000 hectares of the 36,000-hectare property, with robust discovery potential for new vein shoots in the current and upcoming drill rounds.
Already, the company is guiding an initial resource between 45 million and 55 million ounces AgEq at grades between 550 and 750 g/t AgEq. In fact, previous drilling by Outcrop has produced a weighted average grade — from 110 out of 183 drill holes — of 1,380 g/t AgEq. That figure breaks down to 850 g/t silver and 7.52 g/t gold with a nominal lead-zinc component.
The highly-anticipated maiden resource report will mark an important milestone for Outcrop Silver & Gold as it will allow the company to reveal to the market just how much high-grade silver-gold may be present on the broader Santa Ana project area as the company eyes future drilling programs.
In the immediate term, speculators can anticipate the release of additional assays in the coming weeks and months as the drills continue to turn at Santa Ana. It’s all covered in Gerardo Del Real’s exclusive interview with Outcrop Silver & Gold CEO, Joe Hebert. Enjoy!
Mike Fagan
Editor, Resource Stock Digest