Outcrop Silver & Gold announced high-grade assay results from its Santa Ana project in Colombia, with drilling revealing silver concentrations up to 1,913 grams per tonne. The findings support the potential of the site and affirm the company’s exploration strategies. With rising silver prices and significant market capitalization, the project showcases the promise of extensive mineral resources.
Outcrop Silver & Gold (TSXV: OCG) has reported exceptional drilling results from its Santa Ana project in Colombia, revealing assays as high as 1,913 grams of silver per tonne. The highlight hole, DH442, recorded significant findings including 2 metres grading at 38 grams of silver per tonne and 1.94 grams of gold, alongside a notable interval of 0.4 metres yielding 1,913 grams of silver and 0.26 grams of gold. The project is strategically located in Falan, Tolima Department, approximately 200 km west of Bogotá.
Outcrop’s Vice-President of Exploration, Guillermo Hernandez, emphasized the breakthrough nature of these results, particularly from the Los Mangos area, which demonstrates high-grade mineralization. he stated that such findings, occurring over 8 km south of the nearest resource vein, underscore the extensive potential of the mineral system and validate their exploration strategy.
On the financial front, silver prices saw a minor increase of 0.5%, reaching $33.06 per ounce, influenced by industrial demand linked to green energy technologies. As a result, Outcrop’s stock rose by 3% to C$0.26, resulting in a market capitalization of C$89.6 million, reflecting a solid trading range over the past year.
The drilling outcomes, particularly the broader vein widths observed in hole DH442, align with historical findings from the El 20 underground workings, confirming a robust vein system in what is recognized as Colombia’s largest primary silver district. The Santa Ana project boasts an indicated resource of 1.22 million tonnes grading 446 grams of silver and 2.3 grams of gold, translating to 17.5 million ounces of contained silver and 88,800 ounces of gold, with inferred resources at 966,000 tonnes.
Further remarkable assays were detected from the Mangos SE vein, particularly from hole DH444 which revealed 1.92 metres at 486 grams silver and 1.33 grams gold, with peak results of 1,164 grams of silver. Similarly, in hole DH436 at the Los Mangos vein, an intersection of 0.42 metres was recorded at 874 grams of silver.
These results highlight Outcrop Silver’s promising positioning within the mining sector, supported by rising silver prices and a confirmed presence of high-grade mineralization, indicating a bright future for the company’s exploration endeavors.
In summary, Outcrop Silver & Gold has made significant progress at its Santa Ana project, unveiling impressive drilling results that confirm the existence of high-grade mineralization in the area. The company’s strategy appears validated by these findings, along with a favorable market environment with increasing silver prices. Historical data aligns well with current results, reinforcing the potential for substantial resource expansion in Colombia’s leading silver district.
Original Source: www.mining.com
