Today, Outcrop Silver's (Ticker: OCG.v or OCGSF for US investors) President and CEO, Ian Harris, presented at the Beaver Creek 2024 Precious Metals Summit, highlighting the progress and future plans for the company's flagship asset, the Santa Ana project in Colombia, recognized as one of the world's highest-grade primary silver projects. Here are the key takeaways from the presentation:
Project Overview: Santa Ana boasts an initial resource estimate of approximately 37 million ounces total, with 74% of the resource's value attributed to silver and the remainder to gold. The project stands out due to its high-grade nature, which positions it favorably in the market.
Market Context: Harris emphasized a shift in the silver market fundamentals, citing increased demand from solar energy and industrial applications. This heightened demand is expected to create a significant supply-demand deficit, potentially leading to a crunch in silver availability, as only 30% of silver production comes from primary silver mines.
Exploration Strategy: Outcrop Silver's strategy includes expanding its resource base through continued drilling. Since restarting drilling operations in April, the company has increased its drilling capacity and is focused on testing new veins. The goal for 2024 is to enhance the overall resource size while maintaining cost-effectiveness in adding ounces.
Drilling Progress & Today's News: Outcrop Silver has made significant strides in its drilling efforts, identifying several drill-ready targets aimed at demonstrating substantial resource growth. Currently, two drilling rigs are operational, focusing on the Aguilar vein system, which has shown promising results. The continuity of the Aguilar vein has been confirmed over 1.5 kilometers along strike and 200 meters down-dip. So far, 21 holes have been completed at the Aguilar target, with additional drilling at the Guadual and Jimenez zones also yielding notable findings.
Results from the Aguilar vein system shared today include:
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1.3 meters at 888 g/t silver equivalent
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0.30 meters at an impressive 3,043 g/t silver, confirming high-grade mineralization depth continuity at the Jimenez vein.
These results further validate the potential of the project and the company's commitment to expanding its resource base.
Full press release: https://outcropsilver.com/news/outcrop-silver-intercepts-1.3-metres-of-888-grams-per-tonne-silver-equivalent-along-the-new-aguilar-vein-at-santa-ana/
Metallurgical Testing: The presentation highlighted successful metallurgical tests showing impressive recoveries—96% for silver and 98.5% for gold. The high-quality concentrate produced offers favorable economics, allowing for flexibility in scaling operations, whether starting small or expanding quickly.
Community Engagement: A crucial aspect of the Santa Ana project is the strong relationship with the local community. This engagement is seen as vital for operational success and future growth, ensuring that local stakeholders feel invested in the project's potential.
Management Team: Harris underscored the team's extensive experience in mining and the strategic focus on sustainable practices, aiming to create a profitable operation that can adapt to market fluctuations.
Conclusion and Future Outlook: Outcrop Silver remains optimistic about its growth strategy and the potential of the Santa Ana project. The company is dedicated to demonstrating increased resource value while navigating the changing dynamics of the silver market.
Overall, Outcrop Silver is positioned to capitalize on the rising demand for silver, backed by a solid exploration strategy and strong community ties, aiming to increase its resource base and drive shareholder value.
Watch the full presentation here: https://www.gowebcasting.com/events/precious-metals-summit-conferences-llc/2024/09/11/outcrop-silver-gold-corp/play/stream/38868
Posted on behalf of Outcrop Silver & Gold Corp.