Outcrop Silver Extends High-Grade Vein System Footprint to More Than 500 Metres with Step-Out Drilling Along Strike at LA Ye Vein System
OUTCROP SILVER EXTENDS HIGH-GRADE
VEIN SYSTEM FOOTPRINT TO MORE THAN
500 METRES WITH STEP-OUT DRILLING
ALONG STRIKE AT LA YE VEIN SYSTEM
VANCOUVER, BC
,
Feb. 12, 2025
/CNW/ -
Outcrop Silver & Gold Corporation
(TSXV: OCG)
(OTCQX: OCGSF) (DE: MRG)
("Outcrop Silver")
is pleased to announce recent high-grade results
from La Lupe vein, part of La Ye vein system, at its 100%-owned Santa Ana high-grade silver
project in
Colombia
. Step-out drilling has significally extended La Ye vein system footprint to over
500 metres along strike, with La Lupe vein – an integral part of the system – now confirmed for
more than 200 metres along strike. This results reinforce the system's scalability and high-grade
potential.
Drilling Highlights
Hole DH433 intercepted 0.82 metres grading 686 grams per tonne of silver equivalent in
the recently discovered La Lupe vein (Table 1).
Multiple narrow splays from the La Lupe vein showing high-grade potential at depth up
to 734 grams per tonne of silver equivalent in hole DH435 (Table 1).
Drilling at La Ye target, focusing on La Lupe vein, has extended the entire vein system
footprint for more than 500 metres along strike and confirmed the Lupe vein for more
than 200 metres on strike (Figure 1).
"The discovery and extension of La Lupe vein within La Ye system is an exciting breakthrough for the
Santa Ana project. With intercepts grading 1,233 grams per tonne silver equivalent, La Lupe vein not
only confirms the high-grade potential of this system but also highlights the scalability of Santa Ana's
vein systems," comments
Guillermo Hernandez
, Vice President of Exploration. "Extending the
footprint of La Ye vein system to over 500 metres along strike is a testament to the project's
capacity to deliver transformative results. We are thrilled with the progress and confident in the
untapped potential that remains within this prolific district."
These results confirm that La Lupe vein, a newly discovered structure within La Ye vein system, is a
significant contributor to the project's expanding resource potential. Step-out drilling has now
extended La Ye vein system to over 500 metres along strike, with La Lupe vein itself confirmed to
over 200 metres along strike. Additionally, newly identified high-grade splays at depth further
support the system's potential for additional mineralization (Figure 1). Outcrop Silver's systematic
step-out drilling strategy at high-priority targets such as La Ye continues to deliver significant
expansion of the Santa Ana project's mineralized footprint. These results highlight Santa Ana's
potential for continued resource growth and reaffirm its position as a premier high-grade silver
project.
Target
Hole ID
From
(m)
To
(m)
Interval
(m)
Estimated True Width
(m)
Au
g/t
Ag
g/t
AgEq
1
g/t
Vein
DH427
60.65
61.10
0.45
0.37
0.58
172
215
La Lupe
La Ye
DH430
57.07
57.37
0.30
0.23
0.31
142
165
La Lupe
DH431
75.03
75.33
0.30
0.28
1.63
52
174
Vein
DH431
184.41
185.32
0.91
0.86
1.12
141
225
La Lupe
Including
184.41
184.72
0.31
0.29
2.58
354
548
DH433
201.17
201.47
0.30
0.23
0.88
196
262
Vein
DH433
216.34
217.16
0.82
0.64
0.43
654
686
La Lupe
Including
216.71
217.16
0.45
0.35
0.65
1,184
1,233
DH435
195.66
196.14
0.48
0.42
0.63
118
166
La Lupe
DH435
200.62
200.92
0.30
0.26
0.25
233
252
La Lupe
DH435
204.12
204.42
0.30
0.26
7.24
190
734
La Lupe
Table 1. Drill hole assay results reported in this release.
Figure 1. Plan view of La Ye vein target showing the drill holes reported in this release (Table 1),
previous drilling, and samples previously reported (Table 2). For details on previous drill holes, refer
to news releases dated October 8, 2024, November 19, 2024 and January 06, 2025. (CNW
Group/Outcrop Silver & Gold Corporation)
Figure 1. Plan view of La Ye vein target showing the drill holes reported in this release (Table 1),
previous drilling, and samples previously reported (Table 2). For details on previous drill holes,
refer to news releases dated
October 8, 2024
,
November 19, 2024
and
January 06, 2025
.
Recent drilling on La Lupe vein includes hole DH431, which intercepted 0.91 metres at 225 g/t AgEq,
including a high-grade section of 0.31 metres at 2.58 g/t Au and 354 g/t Ag, and hole DH433, which
returned 0.82 metres at 686 g/t AgEq, including 0.45 metres at 1,233 g/t AgEq (Table 1). These
results confirm the presence of high-grade mineralization more than 150 metres from surface (Figure
2).
Figure 2. West to east geological cross-sections showing La Ye vein system.
Sample
Easting
(m)
Northing
(m)
Elevation
(m)
Sample
Type
Width
(m)
Au
g/t
Ag
g/t
AgEq
1
g/t
Release Date
15604
504063.000
560203.000
991.13
Chip
13.21
462
1,454
August 23, 2022
15605
503959.535
560159.363
1004.98
Channel
0.40
5.48
2,141
2,553
August 23, 2022
15606
503931.000
560137.000
1006.49
Chip
5.68
954
1,381
August 23, 2022
15611
503885.000
560352.000
1023.17
Chip
7.11
458
992
August 23, 2022
16182
504271.000
560431.000
998.81
Chip
5.55
1,013
1,430
August 23, 2022
16184
504172.000
560416.000
1004.64
Chip
3.25
828
1,073
August 23, 2022
17604
503879.000
560196.000
1039.00
Chip
2.44
291
474
January 6, 2025
17606
503801.000
560221.000
1055.00
Chip
5.99
742
1,192
January 6, 2025
17925
503884.000
560143.000
1052.00
Chip
0.20
6.73
431
936
November 19, 2024
Table 2. Channel and chip sample results in La Ye vein target from the target generation program
previously reported and referred to in Figure 1 (see News Releases dated
August 23, 2022
,
November 19, 2024
, and
January 6, 2025
).
Hole ID
Hole Code
Easting
(m)
Northing
(m)
Elevation
(m)
Depth
(m)
Azimuth
(°)
Dip
(°)
DH402
SALY24DH402
503816.948
560141.571
1038.15
119.78
135
-55
DH404
SALY24DH404
503816.656
560141.847
1038.05
145.45
135
-81
DH405
SALY24DH405
503813.641
560141.309
1038.04
154.22
224
-70
DH407
SALY24DH407
503816.948
560141.571
1038.15
136.55
86
-61
DH408
SALY24DH408
503759.371
560189.590
1046.62
207.26
129
-70
DH410
SALY24DH410
503759.107
560189.824
1046.40
246.91
129
-80
DH413
SALY24DH413
503757.902
560189.832
1046.39
228.29
181
-75
DH414
SALY24DH414
503759.417
560190.980
1046.39
281.02
93
-60
DH416
SALY24DH416
503906.552
560213.726
1026.21
157.27
135
-50
DH418
SALY24DH418
503906.973
560215.117
1026.34
163.06
97
-56
DH419
SALY24DH419
503904.946
560213.248
1026.47
120.48
179
-45
DH421
SALY24DH421
503905.704
560214.773
1026.57
198.12
135
-81
DH422
SALY24DH422
503825.744
560270.594
1046.26
245.36
122
-65
DH424
SALY24DH424
503826.182
560270.957
1046.51
290.16
111
-77
DH426
SALY24DH426
504045.744
560349.535
1011.06
138.37
137
-45
DH427
SALY24DH427
504046.137
560349.100
1010.90
149.04
137
-67
DH429
SALY24DH429
504046.120
560350.255
1010.74
113.08
0
-90
DH430
SALY24DH430
504043.409
560350.098
1010.70
151.48
101
-52
DH431
SALY25DH431
503948.920
560450.681
1033.18
269.44
137
-48
DH433
SALY25DH433
503948.629
560450.915
1033.14
230.42
137
-64
DH435
SALY25DH435
503948.365
560450.213
1033.53
290.77
174
-47
Table 3. Collar and survey table for drill holes reported and referred to in this release. All
coordinates are UTM system, Zone 18N, and WGS84 projection.
1
Silver equivalent
Metal prices used for equivalent calculations were
US$1,800
/oz for gold, and
US$25
/oz for silver.
Metallurgical recoveries based on Outcrop Silver's metallurgical test work are 97% for gold and 93%
for silver (see news release dated
August 23, 2023
). The equivalency formula is as follows:
Figure 2. West to east geological cross-sections showing La Ye vein system. (CNW Group/Outcrop
Silver & Gold Corporation)
QA/QC
For exploration core drilling, Outcrop Silver applied its standard protocols for sampling and assay.
HQ-NTW core is sawn with one-half shipped. Core samples were sent to either ALS, Actlabs or
SGS in
Medellin, Colombia
, for preparation. Samples delivered to Actlabs were AA assayed on Au,
Ag, Pb, and Zn at
Medellin
using 1A2Au, 1A3Au, Multi-elements AR (Ag Cu Pb Zn), and Code 8
methods. Then, samples were sent to Actlabs Mexico for ICP-multi-elemental analysis with code
1E3. After preparation, the samples sent to ALS Colombia were shipped to ALS Lima for assaying
using Au-ICP21, Au-GRA21, ME-MS41, Ag-GRA21, Ag-AA46, Pb-AA46, and Zn-AA46 methods. In
line with QA/QC best practices, blanks, duplicates, and certified reference materials are inserted at
approximately three control samples every twenty samples into the sample stream, monitoring
laboratory performance. A comparison of control samples and their standard deviations indicates
acceptable accuracy of the assays and no detectible contamination. No material QA/QC issues have
been identified with respect to sample collection, security and assaying. The samples are analyzed
for gold and silver using a standard fire assay on a 30-gram sample with a gravimetric finish for
over-limits. Multi-element geochemistry was determined by ICP-MS using either aqua regia or four
acid digestions. Crush rejects, pulps, and the remaining core are stored in a secured facility at Santa
Ana for future assay verification.
Qualified Person
Edwin Naranjo Sierra
is the designated Qualified Person within the meaning of the National
Instrument 43-101 and has reviewed and verified the technical information in this news release. Mr.
Naranjo holds a MSc. in Earth Sciences, and is a Fellow of the Australasian Institute of Mining and
Metallurgy (FAusIMM). Mr.
Naranjo Sierra
is a consultant to the company and is therefore
independent for the purposes of NI 43-101.
About Santa Ana
The 100% owned Santa Ana project covers 27,000 hectares within the Mariquita District, through
titles and applications, known as the largest and highest-grade primary silver district in
Colombia
with mining records dating back to 1585.
Santa Ana's maiden resource estimate, detailed in the NI 43-101 Technical Report titled "Santa Ana
Property Mineral Resource Estimate," dated
June 8, 2023
, prepared by AMC Mining Consultants,
indicates an estimated indicated resource of 24.2 million ounces 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.
The identified resources span seven major vein systems that include multiple parallel veins and ore
shoots: Santa Ana (
San Antonio
,
Roberto Tovar
,
San Juan
shoots); La Porfia (La Ivana); El Dorado
(El Dorado, La Abeja shoots); Paraiso (Megapozo); Las Maras; Los Naranjos, and La Isabela.
The drilling campaign aims to extend known mineralization and test new high-potential areas along
the permitted section of the project's extensive 30 kilometres of mineralized trend. This year's
exploration strategy aims to demonstrate a clear pathway to substantially expand the resource.
These efforts underscore the scalability of Santa Ana and its potential for substantial resource
growth, positioning the project to develop into a high-grade, economically viable, and environmentally
responsible silver mine.
About Outcrop Silver
Outcrop Silver is a leading explorer and developer focused on advancing its flagship Santa Ana high-
grade silver project in
Colombia
. Leveraging a disciplined and seasoned team of professionals with
decades of experience in the region. Outcrop Silver is dedicated to expanding current mineral
resources through strategic exploration initiatives.
At the core of our operations is a commitment to responsible mining practices and community
engagement, underscoring our approach to sustainable development. Our expertise in navigating
complex geological and market conditions enables us to consistently identify and capitalize on
opportunities to enhance shareholder value. With a deep understanding of the Colombian mining
landscape and a track record of successful exploration, Outcrop Silver is poised to transform the
Santa Ana project into a significant silver producer, contributing positively to the local economy and
setting new standards in the mining industry.
ON BEHALF OF THE BOARD OF DIRECTORS
Neither the TSX Venture Exchange nor its Regulation Services Provider (as such term is defined in
the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of
this release.
Certain information contained herein constitutes "forward-looking information" under Canadian
securities legislation. Generally, forward-looking information can be identified by the use of
forward-looking terminology such as "potential," "we believe," or variations of such words and
phrases or statements that certain actions, events or results "will" occur. Forward-looking
statements are based on the opinions and estimates of management as of the date such
statements are made and they are subject to known and unknown risks, uncertainties and other
factors that may cause the actual results, level of activity, performance or achievements of Outcrop
Silver to be materially different from those expressed or implied by such forward-looking
statements or forward-looking information, including: the receipt of all necessary regulatory
approvals, capital expenditures and other costs, financing and additional capital requirements,
completion of due diligence, general economic, market and business conditions, new legislation,
uncertainties resulting from potential delays or changes in plans, political uncertainties, and the
state of the securities markets generally. Although management of Outcrop Silver have attempted
to identify important factors that could cause actual results to differ materially from those contained
in forward-looking statements or forward-looking information, there may be other factors that cause
results not to be as anticipated, estimated or intended. There can be no assurance that such
statements will prove to be accurate, as actual results and future events could differ materially
from those anticipated in such statements. Accordingly, readers should not place undue reliance
on forward-looking statements and forward-looking information. Outcrop Silver will not update any
forward-looking statements or forward-looking information that are incorporated by reference.
Silver Equivalency Formula (CNW Group/Outcrop Silver & Gold Corporation)
SOURCE
Outcrop Silver & Gold Corporation
View original content to download multimedia:
http://www.newswire.ca/en/releases/archive/February2025/12/c1111.html
%SEDAR: 00005232E
For further information:
Ian Harris, Chief Executive Officer, +1 604 638 2545,
[email protected], www.outcropsilver.com; Kathy Li, Vice President of Investor Relations,
+1 778 783 2818, [email protected]
CO: Outcrop Silver & Gold Corporation
CNW 07:30e 12-FEB-25