Outcrop Drills 0.95 Metres of 10,784 Grams Silver Equivalent Per Tonne at Santa Ana
Outcrop Drills 0.95 Metres of 10,784 Grams
Silver Equivalent Per Tonne at Santa Ana
VANCOUVER, BC
,
Sept. 14, 2020
/CNW/ -
Outcrop Gold Corp.
(TSXV: OCG) (OTCPK: MRDD.F)
(DE: MRG1) ("
Outcrop
") is pleased to announce assay results from drilling on its 100% owned
Santa Ana project in north Tolima,
Colombia
. Drilling continues at the Megapozo target with 1,783
metres in fourteen core holes drilled to date and a fifteenth hole in progress. Assays are pending on
five holes.
Highlights
Outcrop drills highest grades to date in Santa Ana at 0.95 metres of 69.6 g Au/t and
5,550 g Ag/t and 0.73 metres of 13.4 g Au/t and 1,460 g Ag/t intercepted at Megapozo
where drilling continues and mineralization is open in all directions.
A second rig has commenced drilling the Roberto Tovar target. This target provides a
previously identified high-grade shoot with historic drill results of up to 3.04 metres of
1,763 g eq Ag/t and 5.16 metres of 783 g eq Ag/t. Outcrop will offset and extend this
open shoot.
Bulk mineralized zones have been identified at Roberto Tovar where three close-spaced,
parallel high-angle veins and internal wall rock show composited grades of 18 metres of
450 eq g Ag/t.
Megapozo shows multiple phases of mineralization that are comprised of sulfidic breccia and wider
altered sheared and altered zones containing veins. These overprinting phases of mineralization
provide the bonanza grades seen in drill hole 29, the highest grades drilled to date on Santa Ana.
Megapozo contains a low-angle high-grade shoot that is plus 100 metres laterally along strike and
plus 320 metres down-dip within the vein. Mineralization is currently open in all directions. The
bonanza grades may reflect the proximity of an intersection of the low-angle Paraiso veins with the
high-angle Santa Ana veins which would contain crosscutting high-angle and low-angle feeder faults
and veins.
"Drilling continues to prove up confidence at Santa Ana," commented Outcrop Chief Executive
Officer
Joseph Hebert
. "We have drilled the best holes yet, while still early in our exploration
program. We are excited about the potential as mineralization remains open in all directions."
The results from Megapozo add to the success from La Ivana and historic drilling in Roberto Tovar.
Importantly all three shoots remain open at depth and along strike, and if the three identified shoots
can be extended from surface to 400 metres the potential of Santa Ana would increase dramatically.
To date on La Ivana and Megapozo, only 4,128 metres have been drilled out of a total of 12,000
metres planned. A second drill rig has commenced drilling the Roberto Tovar target. Drilling in
Roberto Tovar will test mineralization extending north from an open high-grade shoot drilled
historically which could potentially connect to Megapozo.
Table 1: Significant intercepts are either 3 g Au/t or 200 g Ag/t. 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 are not yet calculated. Megapozo drill holes 21-25
were previously released and drill holes 26-28 did not contain significant intercepts. Assays for
Megapozo drill holes 31-35 are pending.
Hole ID
From (m)
To (m)
Width
(m)
g Au/t
g Ag/t
% Pb
% Zn
g Eq Au/t
g Eq Ag/t
SAMP20DH21
10.66
11.76
1.10
Historic workings
SAMP20DH22
20.01
22.26
2.25
Historic workings
SAMP20DH22
24.60
25.00
0.40
37.8
1,220
0.68
0.80
55.0
4,021
SAMP20DH23
23.40
24.38
0.98
1.1
338
0.30
0.50
6.0
440
SAMP20DH23
30.92
31.15
0.23
1.1
249
0.32
0.28
4.7
345
SAMP20DH24
46.17
47.90
1.74
Historic workings
SAMP20DH25
62.16
65.65
3.49
Historic workings
SAMP20DH29
88.40
89.35
0.95
69.6
5,550
2.53
3.15
147.6
10,784
SAMP20DH30
120.00
121.20
1.20
8.2
1,017
0.55
0.65
22.5
1,647
including
120.00
120.73
0.73
13.4
1,460
0.89
1.06
34.1
2,490
Significant workings were encountered between 10 and 65 metres in initial shallow drilling at
Megapozo, such that vein intercepts and their lengths are significantly underrepresented. An
example is seen in drill hole 22 where 2.25 metres of open workings occurs 2 metres from a 0.4
metre vein intercept. Drill hole 23 appears to represent residual disarticulated vein material in a
caved working such that the actual vein grade is diminished with waste material. Historic workings
are from 1.1 to 3.5 metres in intercept widths. Drill holes 29 and 30 were successful in drilling below
the surveyed depths of a historic production shaft (Map 2). It appears that there are no workings
below the bottom of the shaft at 108 metres, and unmined vein packages are preserved in current
drilling.
Vein Packages as Bulk Mineralized Zones
Santa Ana is a system of intersecting high and low-angle veins. The typical occurrence is packages
of three parallel veins. Where these veins are high-angle, they are close-spaced with three veins
within an interval of less than 20 metres. Outcrop has done preliminary desktop calculations of
composited grades of vein and internal wall rock in the Roberto Tovar target of up to 18 metres at
450 equivalent g Ag/t diluted grades.
Outcrop refers to these areas in the overall narrow vein system as "Bulk Mineralized Zones". The
occurrence of these zones is expected especially in the high-angle vein packages in the vein system
and may contribute significantly to average widths of mineralization.
Photo 1: Megapozo drill hole SAMP20DH29 with 2.7 metres of shear zone, with an internal vein of
0.95 metres containing “bonanza” grades of 69.6 g Au/t and 5,550 g Ag/t. (CNW Group/Outcrop
Gold Corp.)
Photo 2: Megapozo drill hole SAMP20DH30 with 1.2 metres at 6.2 g Au/t and 768 g Ag/t; including
0.73 metres at 13.4 g Au/t and 1,460 g Ag/t. (CNW Group/Outcrop Gold Corp.)
Map 1: Megapozo – Plan map of existing and planned drill holes. (CNW Group/Outcrop Gold Corp.)
Map 2: Megapozo – Section with drilled holes and location of 108-metre-deep production shaft,
where drilling was offset to successfully test under workings. (CNW Group/Outcrop Gold Corp.)
Map 3: Roberto Tovar – Plan map of existing and planned drill holes. The “tunnels” and CP labelled
drill holes provide an open shoot that Outcrop will extend and define. (CNW Group/Outcrop Gold
Corp.)
QA/QC
Core samples were sent to ALS Chemex in
Medellin
for preparation and then to ALS Chemex in
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.
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.
At the core Santa Ana target, located at the northern extent of just one of the regional vein systems,
at least eleven 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 vein system), El Dorado, Morales, Pollera, Guanabanera,
San Antonio
, Palomos,
Murillo
, Culebra and Megapozo (El Paraiso vein system). The zones commonly each contain 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.
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
with three at
an advanced stage of exploration. Outcrop will conduct focused drilling on flagship properties such
as Santa Ana to create its own catalysts for value creation.
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
+1 775 340 0450
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
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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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CNW 01:00e 14-SEP-20