In a recent episode of the Gold Newsletter, host Kai Hoffmann welcomed Ian Harris, President, CEO & Director of Outcrop Silver Corp. (Ticker: OCG.v or OCGSF for US investors), to discuss the company's latest developments. The conversation centered around high-grade silver drill results from the Santa Ana project in Colombia.
Company Overview
Outcrop Silver Corp.'s flagship project is the Santa Ana Project, renowned for being one of the highest-grade undeveloped silver deposits in the world. About 75% of its value is in silver, making it highly leveraged to silver prices. The project currently has two active drills working on an extensive corridor.
Recent Drill Results
Harris shared recent news about the company's latest drill results. Outcrop Silver's recent drilling at the Santa Ana Project's Aguilar target, located about five kilometers from the existing resource area, revealed 0.78m at 776 grams per ton silver equivalent. These results are higher than the average grade of their current resources, indicating significant potential for expansion.
Exploration and Expansion Plans
Outcrop Silver's current resources are concentrated in the northeastern section of their overall corridor. The company aims to expand this resource by drilling along the entire corridor, including new targets in the south. The drilling process involves geological mapping, prospecting, chip samples, and channel sampling before converting a target for drilling.
The Aguilar target, with a 1.8-kilometer overall strike length, was selected for its potential to host multiple ore shoots. The goal is to demonstrate that the project can significantly expand while maintaining high silver grades.
Future Drilling and Resource Growth
Currently, Outcrop Silver has one drill at Aguilar and plans to move a second drill to the central area to expedite the process. By the end of the year, the company aims to drill throughout the entire corridor, showing the potential for over 100 million ounces of silver. The company has multiple drill-ready targets and plans to generate more as they proceed.
Financial Position and Upcoming Catalysts
Outcrop Silver is well-financed, with nearly $4 million in the bank, providing a strong runway for ongoing exploration. The company expects to release news monthly, covering new drill results, regional programs, and metallurgical test work.
The main catalyst for Outcrop Silver is proving the expansion potential of the Santa Ana project. Harris emphasized the importance of showing the market a clear pathway to significantly increasing the resource base.
Full interview:
Posted on behalf of Outcrop Silver & Gold Corp.