Outcrop Silver & Gold Corp. (Ticker: OCG.v or OCGSF for US investors) has recently announced significant advancements in both their exploration and metallurgical efforts at the Santa Ana Project, their flagship high-grade silver project located in Colombia. These advancements highlight the company's ongoing commitment to maximizing the project's value and underscore the substantial potential for resource expansion.
The Santa Ana Project
Santa Ana spans 27,000 hectares within the historically rich Mariquita District, Colombia's largest and highest-grade primary silver district with mining records dating back to 1585. The project's NI 43-101 Technical Report, prepared by AMC Mining Consultants, outlines an impressive indicated resource estimate of 24.2 million ounces of silver equivalent at a grade of 614 grams per tonne, and an inferred resource of 13.5 million ounces at a grade of 435 grams per tonne. These resources are distributed across seven major vein systems, each containing multiple parallel veins and ore shoots.
Recent Drilling Success
In a recent announcement, Outcrop Silver reported promising results from initial core holes drilled at the Aguilar vein, part of the extensive 30-kilometer vein corridor at Santa Ana. These findings affirm high-grade silver continuity and demonstrate the project's potential for significant resource expansion. Notably, drill hole DH361 intercepted 0.78 meters of 776 grams per tonne of silver equivalent, extending known mineralization by 5 kilometers south of the primary Mineral Resource area.
Ian Harris, President and CEO of Outcrop Silver, emphasized the successful drilling at Aguilar as not only a technical achievement but also a testament to strong partnerships with local communities. Likewise, Guillermo Hernandez, VP of Exploration, noted the strategic significance of these findings, confirming the high potential of the Santa Ana vein corridor.
The initial drilling at Aguilar has revealed significant mineralization at depth, characterized by a low-angle structure dipping 55° to the west, containing 5 to 10% total sulfide content. Further drilling is planned to test extensions along the strike and identify higher-grade shoots within Aguilar.
Metallurgical Breakthroughs and Recovery Rates
Outcrop Silver has also announced significant advancements in metallurgical testing at the Santa Ana Project. Comprehensive testing has demonstrated remarkable recovery rates of 96.3% for silver and 98.5% for gold. These achievements set a new benchmark for the project, showcasing Santa Ana's efficiency and high recoverability of its unique mineral composition.
Harris remarked that these exceptional recoveries, achieved through environmentally conscious methods, underscore Santa Ana's uniqueness as one of the world's highest-grade undeveloped primary silver deposits.
Strategic Importance and Future Prospects
Outcrop Silver’s ongoing 2024 drilling campaign aims to extend known mineralization and explore new high-potential areas along the project’s extensive 30 kilometers of strike. This effort highlights the scalability and potential for significant resource growth, reinforcing Santa Ana’s status as a high-grade, economically viable, and environmentally responsible silver mine. The company's expertise in navigating complex geological and market conditions, coupled with a deep understanding of the Colombian mining landscape, positions Outcrop Silver to transform the Santa Ana project into a significant silver producer.
These recent developments at Aguilar and the exceptional metallurgical recovery rates underscore the significant potential of the Santa Ana Project. Outcrop Silver's strategic focus on expanding high-grade silver resources and their commitment to sustainable and efficient mining practices continue to drive the project forward, promising substantial growth and value creation for shareholders and stakeholders alike.
More here: https://outcropsilver.com/news/
Posted on behalf of Outcrop Silver & Gold Corp.