Outcrop Drills Wider Intercept in San Antonio with 4 Metres of 484 Grams Equivalent Silver per Tonne
Outcrop Drills Wider Intercept in San Antonio
with 4 Metres of 484 Grams Equivalent Silver
per Tonne
VANCOUVER, BC
,
Aug. 4, 2021
/CNW/ -
Outcrop Silver & Gold Corporation
(TSXV: OCG)
(OTCQX: OCGSF) (DE: MRG1) ("
Outcrop
") is pleased to announce assay results from the
deepest hole drilled in the
San Antonio
shoot on the 100% owned Santa Ana high grade silver
project in
Colombia
. This latest hole intercepted mineralization approximately 50 metres below
previous intercepts.
Two immediately adjacent veins are composited for 4 metres of 484 grams of equivalent silver per
tonne, demonstrating how close-spaced packages of narrow veins can be composited together for
good widths and grades along hundreds of metres of vein segments.
Highlights
4 metres of 484 grams equivalent silver per tonne intercepted.
San Antonio
along with
Roberto Tovar
and La Ivana, is the third shoot of where close-
spaced narrow vein packages can be composited together to provide attractive widths
and grades along significant segments of vein.
If
San Antonio
merges with two adjacent open shoots, cumulatively Santa Ana will
contain 2 kilometres of mineralized vein strike distributed within six large high-grade
shoots. All shoots open along strike all are open at depths of 200 metres or more.
The
San Antonio
shoot is extended to over 220 metres and remains open.
Drilling (DH151) continues to suggest that the
San Antonio
,
Roberto Tovar
, and
San
Juan
shoots may converge into a single continuous 1,200-metre-long shoot at depth.
"If
San Antonio
,
Roberto Tovar
and
San Juan
converge at depth," comments
Joseph Hebert
, Chief
Executive Officer, "then the Santa Ana Project will contain almost 2 kilometres of cumulative vein
strike distributed in six large shoots all open at depth near 200 metres or more. The extremely high
grades in Santa Ana provide flexibility in a potential future mining scenario by allowing compositing
multiple close spaced veins for greater thicknesses at good grade."
Santa Ana Vein System
Drilling continues to expand the Santa Ana Vein System. Almost 2 kilometres of cumulative vein
strike can be inferred, distributed in six large high-grade shoots. While both high angle and low angle
shoots occur, they are distributed in a predictable pattern. North-trending parallel high-angle shoots
generally have low-angle shoots between them within north-west connecting structures. The low-
angle shoots probably occur within ramps or thrust faults between high-angle faults. Where fault
angle orientations deflect, structural movement creates open spaces for shoot formation. It appears
shoots will continue to be discovered at a relatively high-density of one to three shoots per 1,200
metres length of productive faults and, some shoots may converge into one longer shoot at depth.
All the shoots discovered to date are within an area of 2 kilometres by 3 kilometres and prospecting
north of
Eldorado
and south of
San Antonio
suggest productive fault-veins extend kilometres beyond
the area of current drilling. Only a small part of the land owned by Outcrop has been drilled.
Although Santa Ana is a narrow vein system it shows consistent exceptional high silver grades. The
high grades allow local compositing of grouped veins to provide attractive widths and grades.
To show the flexibility that Santa Ana high-grade provides, Outcrop will begin desk top studies to
evaluate systematic multiple vein compositing and look at possible dilution scenarios for potential
conventional shrinkage stopes of 1.2 metres and potential mechanized stopes of up to 2 metres.
Table 1. Deeper drilling of
San Antonio
Hole ID
From (m)
To (m)
Width
(m)
g Au/t
g Ag/t
% Pb
% Zn
Eq g
Au/t
Eq g
Ag/t
SASA21DH151
167.17
167.64
0.47
3.02
147
0.24
0.81
5.4
396
SASA21DH151
172.20
176.25
4.00
0.41
445
0.17
0.05
6.6
484
Including:
172.20
172.50
0.30
0.78
745
0.14
0.03
11.0
806
And:
175.85
176.25
0.40
3.87
3,897
1.60
0.49
57.9
4,230
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.
Section 1: San Antonio now extends to 220 metres depth where it remains open. The vein intercepts
in DH151 can be composited together for 4 metres of 484 grams equivalent silver per tonne
including 0.4 metres of 4,320 grams equivalent silver per tonne. (CNW Group/Outcrop Silver & Gold
Corporation)
Sections 2 and 3: Silver Equivalent and Gold Equivalent grams per tonne, illustrating possible
continuity at depth of San Antonio, Roberto Tovar and San Juan into a continiuous 1.2 kilometre long
shoot. Significant areas of parallel narrow closed-spaced veins can be composited to provide
attractive widths and grades. (CNW Group/Outcrop Silver & Gold Corporation)
Sections 2 and 3: Silver Equivalent and Gold Equivalent grams per tonne, illustrating possible
continuity at depth of San Antonio, Roberto Tovar and San Juan into a continiuous 1.2 kilometre long
shoot. Significant areas of parallel narrow closed-spaced veins can be composited to provide
attractive widths and grades. (CNW Group/Outcrop Silver & Gold Corporation)
Map 1: Locations from north to south of discovered shoots:
El Dorado, La Ivana, Megapozo, San
Juan, Roberto Tovar and the new San Antonio discovery. If the latter three shoots converge at depth
into one continuous zone of mineralization over 1,200 metres long, the Santa Ana Project will contain
cummulatively almost 2 kilometres of vein strike. (CNW Group/Outcrop Silver & Gold Corporation)
Photo 1: DH151 interval with coarse native “wire” silver with argentiferous galena within intercept of
0.4 metres of 4,320 grams equivalent silver per tonne. (CNW Group/Outcrop Silver & Gold
Corporation)
Photo 2: Interval 0.4 metres of 4,320 grams equivalent silver per tonne – with coarse native wire
silver. (CNW Group/Outcrop Silver & Gold Corporation)
Table 2. Collar and survey table for
San Antonio
deeper drilling (DH151).
Hole ID
Easting
Northing
Elev (m)
Depth (m)
Azimuth
Dip
SASA21DH151
506069.2
565175
886.786
207.41
121
-64
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 hectares located in northern Tolima Department,
Colombia
, 190 kilometres 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 kilometres 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
(Santa Ana vein system), 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 fully financed and rapidly advancing exploration on five silver and gold exploration projects
with world-class discovery potential in Colombia. Outcrop is currently drilling the Santa Ana historic
high-grade silver district. These assets are being advanced by a highly disciplined and seasoned
professional team with decades of experience in Colombia.
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.outcropsilverandgold.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 Silver & Gold Corporation
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For further information:
Joseph P Hebert, Chief Executive Officer, +1 775 340 0450,
[email protected], www.outcropsilverandgold.com; Mars Investor Relations,
+1 647 557 6651, [email protected]
CO: Outcrop Silver & Gold Corporation
CNW 08:00e 04-AUG-21