Outcrop Announces Commencement of 12,000 Metre Phase Three Drill Program at Santa Ana
Outcrop Announces Commencement of 12,000
Metre Phase Three Drill Program at Santa Ana
VANCOUVER, BC
,
March 11, 2021
/CNW/ -
Outcrop Gold Corp.
(TSXV: OCG) (OTCPK:
OCGSF) (DE: MRG1) ("
Outcrop
") is pleased to announce the third phase of 12,000 metres of
drilling has commenced at Santa Ana. The objective is to delineate along strike and at depth five
discovered shoots (La Ivana, Megapozo, Roberto Tovar, El Dorado and
San Juan
) and to drill test
numerous greenfield targets with the goal to discover five to seven new high-grade shoots. Phase
two drilling has been completed with assays pending.
Highlights
12,000 metre diamond drill program has commenced and will focus on both delineation
of high-grade shoots and drill testing a pipeline of greenfield targets which are being
advanced systematically.
Discovery holes to date include:
La Ivana - 1.00 metre of 21.3 g Au/t and 4,608 g Ag/t
Megapozo - 0.95 metres of 69.6 g Au/t and 1,495 g Ag/t
Roberto Tovar - 3.04 metres of 3.7 g Au/t and 636 g Ag/t
El Dorado - 1.20 metres of 4.7 g Au/t and 1,127 g Ag/t
San Juan
- 1.79 metres of 0.6 g Au/t and 1,274 g Ag/t
Figure 1. Target Ranking Pyramid (CNW Group/Outcrop Gold Corp.)
"Outcrop is proud of our dedicated team advancing the Santa Ana project in
Colombia
," remarks
Joe
Hebert
, Chief Executive Officer. "The team is working tirelessly to build on the knowledge gained
from the five high-grade shoots discovered to build better system and exploration models. Target
ranking through the compilation of multiple datasets brings clarity to the company's strategic plan to
establish Santa Ana as a world-class silver district."
ESG Programs
Outcrop continues working with the community and municipality of Falan, Tolima to strengthen
Environmental, Social and Corporate Governance (ESG) programs. Several socio-economic
programs have been defined and initiated by Outcrop in 2020 and 2021 with the cooperation and
participation of communities and local authorities. These programs are aligned with the "Sustainable
Development Goals of Falan" as well as "Falan's Local Development Plan." These programs include
primary and secondary education programs for adults, improvement of local infrastructure through a
municipal volunteer program, and facilitating micro-cap income generation programs starting with a
beekeeping and apiary school in Falan. Outcrop is also considering facilitating an initiative to identify
methods to increase productivity from farms in the project area.
Greenfield Target Drilling in Progress
Drilling is underway at the
San Antonio
target which is a possible continuation of the Roberto Tovar
shoot or an adjacent shoot to the south and at the Palomos East target where sampling returned 2.5
g Au/t and 713 g Ag/t from an underground stope developing a plunging mineralized shoot.
Near term targets after
San Antonio
and Palomos East are Culebra and El Gordo. Culebra has
visibly mineralized high-sulfide rock samples and float (assays pending) and indications of historic
mining. El Gordo may be a shoot within the Miraflores vein system which is 200 metres west of and
parallel to the main Santa Ana vein system that contains the Roberto Tovar and
San Juan
shoots. El
Gordo is comprised of a strong soils anomaly and surface rock chip samples with a high of 94 g Au/t
and 94 g Ag/t.
Systematic Target Review and Ranking
Outcrop has prioritized its targets from less advanced to those with good drill definition. All shoots
discovered to date are open in one or more directions and at depth. Three shoots: Megapozo, La
Ivana and Roberto Tovar have first-pass drill definition. El Dorado and
San Juan
have discovery
holes but are not yet defined, though El Dorado can be traced at surface for 400 or more metres to
the north and at depth to 200 metres. Seven targets have no drilling but are considered "high
probability" to deliver a high-grade shoot. These targets in order of priority are Culebra, Palomos
East,
San Antonio
, El Gordo, Morales West, Prias, and Delhuyar. There are fifteen other targets
that are of preliminary interest but need to be advanced to either the drill stage or reach a negative
determination based on focused exploration work.
Outcrop has ranked targets based on prospectivity and potential to provide high-grade shoots by
carrying out a systematic review and compilation of the different datasets collected at Santa Ana.
These datasets include detailed mapping and sampling of historic workings, rock and vein float
sampling, surface soil sampling, trench mapping and sampling, and ground geophysical surveys
(magnetic, chargeability and resistivity). This detailed and systematic analysis has helped to better
design the drill program.
Outcrop and vein float in the project area is of low density although historic workings provide some
direct support of targets. There are numerous multi-element soil anomalies coincident with
geophysical lineaments and historic workings. Gradient-array resisitivity and chargeability lineaments
indicate several inferred stuctural trends that may host new blind and undiscovered vein zones. The
predominant vein zone trends are north-northeast and northwest, but the newly recognized Culebra
target indicates a northeast trending vein zone which may broaden the structural model for Santa
Ana exploration.
Table 1. Target Details and current priority subject to further work.
Target
Name
Target
Ranking
Historic
Workings
Multi-element Soil
Anomaly
Preliminary Rock Chip
& Float Assays
Notes
Culebra
1
1 tunnel
Au,Bi,Se,Te,W
1.2 g Au/t & > 100 g Ag/t*
(*waiting for overlimit
assay)
Recently discovered trend by Outcrop geologists showing a NE-SW structure
with visibly mineralized high sulfide rock chips and float (awaiting assays)
Palomos East
(Currently
drilling)
2
2 Tunnels
Au,Ag,As,Bi,Cd,Sb,
Pb,Mo,Hg,Se,Te,W
2.5 g Au/t & 713 g Ag/t
Strong surface geochemical anomaly coincident with N-S resistivity anomaly.
Rock chips in tunnel show high grades mined from potential shoot.
San Antonio
East
3
2 Tunnels
Au,Ag,As,Bi,Cd,Sb,
Pb,Hg,Se,W
0.1g Au/t Au & 27 g Ag/t
The likely southern continuation of the Santa Ana trend. Shows a 400m N-S
soil anomaly and chargeability trend.
El Gordo
4
1 Tunnel
Ag,As,Bi,Cu,Sb,Cd,
Hg,Se,Te
94g Au/t & 94g Ag/t
From geophysics this appears to be the southern continuation of the untested
Miraflores vein. Returned several very high-grade gold rock chips and strong
soil anomaly.
Morales West
5
2 Tunnels
Au,Ag,Bi,Cd,Zn,Mo,
Sb,Sn,Te,Hg,Se
0.6g/ Au/t & 4 g Ag/t Ag
Resistivity shows likely convergence of two structures with a strong soil
anomaly and tunnel in which a vein has recently been mapped and sampled
(awaiting assays).
Prias
6
1 Tunnel
Au,Ag,As,Zn
3.0 g Au/t & 348 g Ag/t
Geophysics shows the likely southern continuation of La Porfia vein system
(hosting La Ivana Shoot in the north). High grade rock chips and historic
workings.
Tumbada
7
None
Au,Ag,As,Bi,Zn,Mo,
Cd,Se,W,Hg,Te
No samples.
Strong surface geochemical anomaly coincident with N-S resistivity anomaly.
Possibility to be a continuation of the Paraiso vein (hosting the Megapozo
Shoot 300m to the north). No historic workings or float.
Figure 2: Compilation of targets with five discovered high-grade shoots on Chargeability and DEM
base map. (CNW Group/Outcrop Gold Corp.)
QA/QC
Soil and rock samples were sent to ALS Chemex in
Medellin
for preparation and then to ALS
Chemex Toronto for analysis, with approximately three control samples inserted (one blank, one
standard and one field duplicate) for each twenty samples. The samples were analyzed for gold
using standard fire-assay on a 50-gram sample with a gravimetric finish. Multi-element geochemistry
was determined by ICP-MS using either aqua regia (ME-MS41) or four acid (ME-MS61) digestion.
Comparison to control samples and their standard deviations indicates acceptable accuracy of the
assays and no detectible contamination.
Geophysical data was reviewed daily for entry error and consistency with readings from nearby
stations. Survey control was provided for each station by GPS and data contouring was reviewed
for consistency with data spreadsheets. Random checks of table data with field data revealed no
inconsistencies in the data and the overall quality of the survey is considered very good.
About Santa Ana Project
The Santa Ana project comprises over 25,000 ha located in northern Tolima Department,
Colombia
,
190 km from
Bogota
. The project consists of five regional scale parallel vein systems across a trend
12 kilometres wide and 30 kilometres long. The Santa Ana project covers a significant part of the
Mariquita District where mining records date to at least 1585. The Mariquita District is the highest-
grade primary silver district in
Colombia
, with historic silver grades reported to be among the highest
in
Latin America
from dozens of mines.
Historic mining depths support a geologic and exploration model for composite mesothermal and
epithermal vein systems having mineralization that likely extends to great depth. At Santa Ana it is
unlikely that there is sharp elevation restriction common to high-grade zones in many epithermal
systems with no mesozonal component.
In area of current focus of the Santa Ana project, located at the northern extent of just one of the
regional vein systems, at least twelve principal vein zones are recognized that provide up to 14 km of
cumulative strike length. The zones include, La Ivana (La Porfia vein system), Roberto Tovar (
Royal
Mines
, including the Santa Ana, Delhuyar and Roberto Tovar vein systems),
San Juan
(Santa Ana
and Delhuyar vein systems), El Dorado (El Dorado and El Paraiso vein systems), Morales, Pollera,
Guanabanera,
San Antonio
, Palomos,
Murillo
, Culebra and Megapozo (El Paraiso vein system).
Each zone commonly contains multiple parallel close-spaced veins or vein stacking. The veins can
show both high-grade silver and high-grade gold mineralization and may be both low and high angle
depending on local controls. Drilling indicates that mineralization extends from surface or near
surface to depths of at least to 350 metres locally.
About Outcrop Gold
Outcrop is a hybrid prospect generator active in
Colombia
acquiring gold and silver exploration
projects with world-class discovery potential. Outcrop performs its own grass roots exploration and
then employs a joint venture business model on its projects to maximize investor exposure to
discovery and minimize financial risk. Outcrop has seven primary projects in
Colombia
. While
Outcrop's other projects are available for joint venture, Outcrop will continue to drill and de-risk the
Santa Ana high-grade silver project.
Qualified person
The technical information in this news release has been approved by Joseph P Hebert, a qualified
person as defined in NI43-101 and President and Chief Executive Officer of Outcrop.
ON BEHALF OF THE BOARD OF DIRECTORS
Joseph P Hebert, Chief Executive Officer
Mars Investor Relations
+1 775 340 0450
+1 647 557 6651
www.outcropgoldcorp.com
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
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 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 will not update any
forward-looking statements or forward-looking information that are incorporated by reference
herein, except as required by applicable securities laws.
SOURCE
Outcrop Gold Corp.
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For further information:
Joseph P Hebert, Chief Executive Officer, +1 775 340 0450,
[email protected], www.outcropgoldcorp.com; Mars Investor Relations, +1 647 557
6651, [email protected]
CO: Outcrop Gold Corp.
CNW 08:00e 11-MAR-21