Video Summary: OCG CEO Highlights Santa Ana's Potential Outcrop Silver (Ticker: OCG.v or OCGSF for US investors) recently participated in the Battery & Precious Metals Virtual Investor Conference held on July 23 & 24, where Ian Harris, the company’s President and CEO, delivered an in-depth presentation.
The company, which focuses on exploring high-grade silver deposits in Colombia, is currently centered on its flagship Santa Ana project, one of the highest-grade primary silver deposits globally.
Harris highlighted the increasing demand for silver, driven significantly by industrial uses, particularly in solar energy. He pointed out that the silver market is currently experiencing a substantial supply deficit, with 2023 seeing a shortfall of approximately 200 million ounces. This situation is expected to persist, given the rapidly growing demand for silver in solar panels, which saw a 64% increase last year.
Santa Ana, Outcrop Silver’s primary focus, is located in a historically rich mining region in Colombia. The project has already yielded a high-grade resource estimate of 37 million ounces of silver, with significant potential for expansion. Harris emphasized that the ongoing drilling programs are aimed at dramatically increasing the resource base, targeting the addition of new high-grade veins to potentially double or triple the current resource.
The company has adopted environmentally friendly extraction methods, achieving an impressive 96% recovery rate without the use of cyanide. This approach not only enhances the project's economic viability but also aligns with modern environmental standards.
Harris also underscored the importance of Outcrop Silver’s strong local relationships and the project’s favorable geographical positioning within Colombia’s established mining districts. With a dedicated team, including Harris’s own extensive experience in South American mining, the company is well-positioned to navigate the challenges and opportunities of silver exploration.
Financially, Outcrop Silver is supported by significant investors, including Eric Sprott, who holds an 11% stake in the company. The company is cautiously optimistic about future financing, aiming to minimize dilution by timing capital raises with favorable market conditions.
As Outcrop Silver continues its exploration efforts at Santa Ana, it remains focused on achieving a significant milestone of surpassing 100 million ounces of silver, which would position it among the top silver projects globally. The company’s strategy is geared towards delivering long-term value to shareholders through continuous exploration and resource expansion, backed by robust market fundamentals for silver.
Full presentation replay here:
Posted on behalf of Outcrop Silver & Gold Corp.