Today, Outcrop Silver & Gold (OCG.v OCGSF) announced the commencement of its 2024 Drill Program at its 100% owned Santa Ana High-Grade Silver Project in Colombia.
This is a pivotal initiative that marks the start of a comprehensive exploration effort aimed at amplifying mineralization at OCG's existing targets as well as uncovering new prospects within the project's expansive 18.5km area that has drilling permission.
OCG President and CEO Ian Harris commented:
"Launching our 2024 drilling program at Santa Ana, we aim to fully unlock the potential of this distinctive high-grade, primary silver project. By targeting both established and new areas, we're poised to showcase Santa Ana's scalability and Outcrop's significant leverage to the improving silver market,"
"Concurrently, we're advancing our metallurgical work to highlight the project's uniqueness, characterized by high recovery rates and a highly marketable concentrate. We're also committed to safeguarding shareholder value by implementing robust defenses against predatory trading practices, ensuring the integrity of our trading environment."
OCG's drill program strategy is designed to underscore the scalability of the project and its significant potential for resource expansion by leveraging its technical expertise and deep understanding of the region's geology to unlock the full value of the high-grade silver project.
Boasting one of the highest-grade undeveloped primary silver projects in the world, OCG's Santa Ana Project in Colombia has a mineral resource of 37 million ounces grading over 600 g/t AgEq and 18 km of untapped veins.
Furthermore, Santa Ana's excellent metallurgy enables multiple production options from concentrate to dor with 93%+ recoveries and without cyanide.
Following a productive year in 2023, OCG is targeting significant expansion at Santa Ana with a growth strategy focused on "demonstrating the potential for a larger resource, maintaining a tight environmental footprint, and being prepared to scale up operations if silver prices rise".
Aiming to quickly move to the middle section of the deposit, there is the potential to increase the mineral resource to over 100 million ounces as the current resource is only on 10% of the property with less than 25% of the concession area mapped.
Silver's Golden Opportunity
With industrial usage and potential deficits driving demand, the versatility and widespread use of silver in technology indicates substantial potential for growth. This is further entrenched when taking into account that silver is not easily replaced when its price increases.
Further, retail and institutional investors starting to take notice of the significant disparity between the lagging share prices and the fundamentals.
Highly leveraged to silver prices, in a favourable, low-cost jurisdiction with government support and an economically viable project, OCG is headed toward significant growth potential amid a strong silver market.
Posted on Behalf of Outcrop Silver & Gold Corporation.