Outcrop Silver & Gold Corp V.OCG

CEO Details Aggressive Expansion @ Santa Ana (Video + News)

[1StockInformer]

At the Precious Metals Summit in Beaver Creek, Colorado, Mining Network interviewed Ian Harris, CEO of Outcrop Silver (Ticker: OCG.v or OCGSF for US investors). The conversation highlighted Outcrop's ongoing expansion drilling at its high-grade Santa Ana Silver Deposit in Colombia. 

Key takeaways from the interview include:

• Santa Ana Resource:

  • Currently stands at 37 million ounces of silver eq

  • Efforts focused on significantly expanding this figure by the end of 2024

• Expansion Strategy:

  • Aims to add ounces through aggressive step-out drilling

  • Actively testing new targets across a 17-km trend

  • Planning for 14,000 meters this year and targeting 24,000 meters in 2025

  • If the silver market improves, the target could increase to 48,000 meters

• Production Potential:

  • High-grade mineralization

  • Recent metallurgical tests show 96% silver recovery and 98.5% gold recovery, supporting future production scenarios.

  •  Outcrop aims to achieve a 100-million-ounce resource and move into pre-feasibility studies.

Since this interview Outcrop Silver has made several positive announcements:

• Closed a $5 million private placement with prominent investor Eric Sprott Sprott:

  • Already a significant shareholder, acquired 22,727,273 units at $0.22 per unit

  • Increased his stake to 19.3% on a non-diluted basis and 22.4% on a partially diluted basis

  • Proceeds to support further exploration at Santa Ana, including ongoing drilling efforts.

• Announced a discovery at the La Ye vein:

  • Drill hole DH402 intercepted 0.60 meters at 1,136 grams per tonne silver equivalent. 

  • This discovery confirms high-grade mineralization in parallel vein systems, contributing to the project’s potential expansion.

• Reported consistent high-grade intercepts at the Aguilar vein:

  • The best results included 928 g/t AgEq over 1.08 meters and reinforced the project's potential for multiple mineralized shoots.

• Provided additional results from the Jimenez vein:

  • revealed significant widths, including 3.58 meters of mineralization at 131 g/t silver equivalent, with a high-grade intercept of 1,288 g/t AgEq over 0.32 meters. 

  • These results bolster the potential for resource growth and parallel vein discovery at Santa Ana.

Outcrop anticipates releasing monthly drilling results through the end of 2024, creating a steady news flow. As highlighted in the interview, Outcrop's disciplined approach aims to deliver value while maintaining strong community relations and political alignment in Colombia.

Full news here: https://outcropsilver.com/news

Posted on behalf of Outcrop Silver & Gold Corp.