“We think that the participation of the mining sector in the department of Tolima has a very important role. We are studying the mining sector thoroughly and understand how its growth benefits the economy, labor sector, and the environment. When I speak to mining business leaders, I emphasize the need to conduct business in the department so that these businesses generate value for Tolima. The value generated by the mining sector is crucial for the Department of Tolima. Tolima must have a mining sector.”
— Orlando Pacheco, Secretary of Economic Development, Tolima.
(Source: https://x.com/OCG_SilverGold/status/1796248406966313412)
Last year, 65% of silver demand coming from industrial uses, marking its transformation from a monetary metal to an industrial one due to its critical use in green technologies including solar panels.
As the market is heading toward a significant deficit, projected to reach one billion ounces by the end of 2024, one notable development in this sector is Outcrop Silver & Gold's (OCG.v OCGSF) Santa Ana Project, one of the highest grade silver projects globally, with approximately 37M ounces, a grade of 73% silver and unique minerology allowing for a high 93% silver recovery by floatation making it economically viable even at today's silver price.
It is very hard to find a comparable project that has an indicated silver resource as large as Santa Ana, making this is a very rare project.
The Path to 100 Million Ounces Aiming to grow Santa Ana's resource to over 100M ounces, Outcrop Silver & Gold (OCG.v OCGSF) is strategically located in a significant mining district in Colombia which boasts a history of narrow vein mines that started small and grew big.
Colombia's new leftist president is supportive of the energy transition and the potential for silver production to contribute to it, bolstering the importance of this jurisdiction, alongside OCG's strong local relationship.
With its 2024 drill program strategy designed to underscore the scalability of the project, OCG is on track for significant resource expansion by leveraging their technical expertise and deep understanding of the region's geology to unlock the full value of the high-grade silver project.
Believed to be the next "lithium" due to underestimated supply and demand issues, silver provides a clear opportunity and, with a range of experienced mining executives on the team, OCG has a solid foundation, clear strategy, and significant drilling plans for the next year amid this dynamic market.
For more information, refer to Outcrop Silver & Gold's (OCG.v OCGSF) latest presentation at Deutsche Goldmesse discussing the Santa Ana Mine:
https://www.youtube.com/watch?v=Jh_Gcw5rIaw Posted on Behalf of Outcrop Silver & Gold Corporation.