Today, Outcrop Silver & Gold (OCG.v OCGSF) announced that it achieved exceptional recovery of 96.3% silver and 98.5% gold in an updated metallurgical testing at Santa Ana.
This is a significant improvement in gold and silver recoveries following the metallurgical testing at its flagship Santa Ana project.
Key Highlights:
- High Efficiency Recovery: Integrated gravimetric & flotation test work resulted in overall recovery of 96.3% for silver and 98..5% for gold, setting a new benchmark for the project
- Initial Gravimetric Concentration: Gravimetric process alone reocvered 7.6% of silver and 35.8% of gold with gravimetric concentrate assaying 2,883 g/t silver and 164 g/t gold
- Subsequent Flotation Recovery: Flotation of gravimetric trails recovered and additional 88.6% of the remaining silver and 62.7% of the remaining gold with rougher concentrate grades reaching 4,356 g/t silver and 37.5 g/t gold
- Unique Mineralogy: The process highlights the project's distinctive mineral composition where 88% of the silver is in the form of argentite, enhancing recoverability and high-grade concentrates
Ian Harris, OCG President and CEO, commented:
"The exceptional recoveries of both silver and gold at the Santa Ana project, achieved through environmentally conscious methods, underscore the uniqueness of Santa Ana as one of the world's highest-grade undeveloped primary silver deposits. Our ability to achieve incredible recovery rates and produce high-grade concentrates demonstrates the project's efficiency in extracting significant value from the ground,"
"This significantly de-risks the Santa Ana project and is very promising as we continue our drilling operations to potentially expand the existing resources dramatically."
The Santa Ana Project
Taking a strategic approach to the current silver market by focusing on resource expansion and a pathway to small-scale production, OCG's high-grade and pure silver Santa Ana Project in Colombia is one of the highest grade silver projects globally.
Boasting approximately 37M ounces at a grade of 73% silver, Santa Ana has unique minerology allowing for a high 93% silver recovery by floatation making it economically viable even at today's silver price.
Significantly, this is a very rare project as it is very hard to find a comparable project that has an indicated silver resource as large as Santa Ana.
2024 Strategy
Amid its 2024 drill program, strategically designed to underscore the scalability of the project, OCG has mobilized a second drill rig to capitalize on the increase interest and generate a steady news flow for investors amid working on a production scenario to demonstrate the project's economic viability and provide a quicker route to cash flow.
Today's news comes on the heels of OCG announcing that it has drilled high-grade silver at the new Aguilar Vein in the central part of the 30km long vein corridor at the Santa Ana Project, which already boasts a resource of ~37M ounces of silver.
Underpinning its expansion strategy, the results of initial core holes from the Aguilar Vein confirms the continuity of high-grade silver, demonstrating the corridor's potential, confirms high-grade mineralization at the vein and extends the known drilled mineralization by 5km south of the Mineral Resource Area.
Regarding this news, Ian Harris, commented:
"2024 has been pivotal for Outcrop Silver, underscoring our commitment to unlocking the full potential of the Santa Ana district. The successful initial drilling at Aguilar is not just a technical achievement but a testament to our deep-rooted partnerships with the communities of Tolima and Falan,"
Full News Release: https://outcropsilver.com/news/outcrop-silver-achieves-exceptional-recovery-of-96.3-silver-and-98.5-gold-in-updated-metallurgical-testing-at-santa-ana/
Posted on Behalf of Outcrop Silver & Gold Corporation.