Mike Fagan,
Editor
June 16, 2022
Outcrop Silver & Gold Corp. (TSX-V: OCG)(OTC: OCGSF) — currently trading around C$0.15 per share — has intersected 1.85 meters of 7,609 grams per tonne silver equivalent (g/t AgEq) and 4.69 meters of 909 g/t AgEq at the Las Maras target at the flagship, 100%-owned Santa Ana silver-gold project in Tolima, Colombia.
The project is situated in the prolific Mariquita District where some of the highest silver grades in all of Latin America have been recorded. The current drilling focus at Santa Ana is on high-grade shoots, of which 11 have already been identified on the 3,600-hectare property.
Keep in mind also that most of the historical drilling in the Mariquita District has been relatively close-to-surface. The Outcrop team has determined that mineralization extends from surface to depths of at least 300 meters, which means potential exists for discovering possible mineralized feeder zones through deeper drilling.
Outcrop Silver & Gold CEO Joe Hebert — whom you’re about to hear from directly in our exclusive interview — commented via press release:
“The results from Las Maras provide our best drill intercepts in terms of both thickness and grade to date on the Santa Ana project. Outcrop believes this is an indicator of significant upside to the quality of discoveries on Santa Ana. We have eleven high-grade shoots that accumulate over 2.8 kilometres length of potential resource areas to include in a compliant resource before the end of 2022. Also prioritized targets are being generated and drilled within an area twice the scale of that drilled on to date.”
Outcrop is currently in the midst of an 18,600-meter drill program at Santa Ana across multiple vein shoots, all of which remain open along surface and at-depth. Those shoots will form the basis of the company’s first-pass maiden resource report slated for release later this year.
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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.
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.
Based on the exceptional grades and solid thicknesses we’re seeing so far… those results could prove not only exciting from a geological perspective but momentum building as well.
Our own Gerardo Del Real of Junior Resource Monthly caught up with Outcrop Silver & Gold CEO Joe Hebert for an in-depth discussion on the current drilling at Santa Ana and next-steps for the project. Enjoy!
Yours in profits,
Mike Fagan
Editor, Resource Stock Digest