Outcrop Drills 0.7 Metres of 8,584 Grams Silver Equivalent Per Tonne And 1.0 Metre of 2,731 Grams Silver Equivalent Per Tonne
Outcrop Drills 0.7 Metres of 8,584 Grams
Silver Equivalent Per Tonne And 1.0 Metre of
2,731 Grams Silver Equivalent Per Tonne
VANCOUVER, BC
,
May 10, 2021
/CNW/ -
Outcrop Gold Corp.
(TSXV: OCG) (OTCQX: OCGSF)
(DE: MRG1) ("
Outcrop
") is pleased to announce results of five holes from continuing delineation
drilling in La Ivana and an update on exploration drilling on its 100% owned Santa Ana project in
north Tolima,
Colombia
.
Highlights
0.7 metres of 117.5 grams gold equivalent per tonne or 8,584 grams silver equivalent per
tonne.
1.0 metres of 37.4 grams gold equivalent per tonne or 2,731 grams silver equivalent per
tonne.
La Ivana high-grade mineralization remains open along strike and depth.
Greenfield exploration progresses with less than 25% of the mapped or inferred vein
traces tested.
"Three of five recent delineation holes at La Ivana returned values greater than 2 kilograms silver
equivalent per tonne including a remarkable value of 8.6-kilogram silver equivalent per tonne,"
comments
Joseph Hebert
, Chief Executive Officer. "These values are of significance considering that
the average grade of the world's twelve largest silver mines has fallen to 300 grams silver equivalent
per tonne."
Table 1. Intercepts and assays from recent delineation drilling from La Ivana.
Hole ID
From (m)
To (m)
Width (m)
g Au/t
g Ag/t
% Pb
% Zn
Eq g Au/t
Eq g Ag/t
SALP21DH98
105.76
106.20
0.44
1.9
409
0.57
0.47
7.8
573
SALP21DH101
96.01
97.01
1.00
18.3
1,354
0.45
0.93
37.4
2,731
SALP21DH103
99.86
100.27
0.41
17.4
847
0.76
1.00
29.0
2,121
SALP21DH104
99.50
100.00
0.50
6.9
104
0.13
0.33
8.4
611
SALP21DH110
74.95
75.65
0.70
29.1
5,763
2.36
0.94
117.5
8,584
For equivalent calculations $1,900 per ounce gold, $26 per ounce silver, $0.87 per pound lead and $1.08 per pound zinc were used. Intervals shown are drill intercept, true
thickness cannot be calculated yet. There were no signficant intercepts, defined as 200 eq g Ag/t, in SALP21DH100.
Section 1: Equivalent g Au/t in plan section (for low angle shoot) that outcrops to east and dipping
west. The approximate dimensions of the shoot are 320 metres by 310 metres and it is open in at
least three directions. (CNW Group/Outcrop Gold Corp.)
Section 2: Equivalent g Ag/t in plan section (for low angle shoot) that outcrops to east and dipping
west. The approximate dimenisions of the shoot are 320 metres by 310 metres and it is open in at
least three directions. (CNW Group/Outcrop Gold Corp.)
Table 2. Collar and survey table for recent delineation drilling from La Ivana.
Hole ID
Easting
Northing
Elev (m)
Depth (m)
Azimuth
Dip
SALP21DH98
505894.62
566912.29
888.97
120.09
118
-77
SALP21DH101
505894.62
566912.29
888.97
115.82
123
-45
SALP21DH103
505875.78
566899.04
894.80
116.43
119
-50
SALP21DH104
505875.78
566899.04
894.80
108.81
119
-64
SALP21DH110
505975.09
566901.70
891.67
100.27
118
-80
Exploration Update
Preliminary drilling in greenfield targets Palomo, Prias, Culebra and El Gordo have defined vein
structures and local epithermal veins with significantly anomalous mineralization.
Where veins and fault-veins are well defined, especially if those veins have already produced shoots,
Outcrop will begin drilling fans on panels approximately 135 metres apart. From results in the central
area of known pre-colonial mining, the Company expects a shoot periodicity of one to two large,
high-grade shoots within each 800 metres of vein. It is expected that systematic drill panels along
vein traces will increase the pace of new shoot discovery.
Map 1: Drill-hole traces on mapped and inferred veins. Less than 25% of vein traces have been
tested. (CNW Group/Outcrop Gold Corp.)
QA/QC
Core samples are sent to either Actlabs in
Medellin
or ALS Chemex in
Medellin
for preparation and
then to ALS Chemex in
Toronto
or
Lima, Peru
for analysis. In line with QA/QC best practice,
approximately three control samples are inserted per twenty samples (one blank, one standard and
one field duplicate). The samples are analysed for gold using standard fire-assay on a 50-gram
sample with a gravimetric finish. Multi-element geochemistry is 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.
About Santa Ana
The Santa Ana project comprises over 28,000 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.
At the core Santa Ana project, located at the northern extent of just one of the regional vein systems
controlled by Outcrop, at least twelve principle vein zones are recognized that cumulatively provide
up to 14 km of cumulative strike length – 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 veins. 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 350
metres locally.
About Outcrop
Outcrop is a hybrid prospect generator active in
Colombia
acquiring silver and gold 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 five primary projects in
Colombia
. While
Outcrop's other projects are available for joint venture, Outcrop will continue to drill and progress 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 10-MAY-21