Outcrop Granted 5,046 Hectares of Mining Titles and Announces Discovery of Seven New High-Grade Targets on its Expanded Santa Ana Project
Outcrop Granted 5,046 Hectares of Mining
Titles and Announces Discovery of Seven New
High-Grade Targets on its Expanded Santa
Ana Project
VANCOUVER, BC
,
Dec. 7, 2021
/CNW/ -
Outcrop Silver & Gold Corporation
(TSXV: OCG)
(OTCQX: OCGSF) (DE: MRG1) ("
Outcrop
") is pleased to announce that new titles comprising
5,046 hectares at the 100% owned
Santa Ana
high-grade silver project were granted to the
company by the National Mining Agency of
Colombia
. Theses titles cover the Royal Santa Ana to
Frias vein systems. Additionally, Outcrop´s exploration team has discovered seven new vein targets
north and south of
Santa Ana
with potential to deliver new high-grade shoots in the short term.
Highlights
The
Santa Ana
project consists of 36,000 hectares, however only one title of 942 hectares has
been drilled to date where seven ore shoots have been discovered. With the addition of 5,046
hectares the company now holds a total of 5,988 hectares of titles to conduct exploration drilling
along the main trend of veins that runs from north of the historic Royal Santa Ana Mines
southwest 20 kilometres to the Frias Mine.
Numerous areas of historic mining areas provide significant potential at depth and along strike
and define areas for discovery of new shoots.
During the second half of 2021, Outcrop's exploration team generated seven new vein targets
north and south of
Santa Ana
with samples showing significant gold and silver concentrations up
to 64.75 g Au/t and 5,242 g Ag/t in vein and shear outcrop and surface float of eroded vein
cobbles.
The new targets will be drilled starting in the first quarter of 2022.
"The new titles granted to Outcrop and the discovery of seven new vein targets showing high grades
look very promising and guarantee new drilling targets with potential of delivering additional high-
grade shoots during 2022," comments
Jesus Velador
, Vice President of Exploration. "Outcrop is on
track to continue unlocking the full potential of its
Santa Ana
project during 2022."
"Outcrop's expert team in
Colombia
continues to generate high quality targets at Santa Ana," adds
Joseph Hebert
, Chief Executive Officer, "These new targets and titles advance our objective of
identifying a total of twelve high-quality shoots in 2022. Twelve shoots would provide a cumulative
potential resource area of combined shoots of over 3,000 metres laterally by over 300 metres
projected to depth".
With the new grant by the National Mining Agency, Outcrop has ten titles covering a total surface of
5,988 hectares along the main trend of vein systems running from one kilometre north of the Royal
Santa Ana Mines to south of the Frias Mine. The Frias mine has recorded production of 7.8 million
ounces of silver at 1.3 kg Ag/t recovered grade, from a shoot similar in size to an average shoot
discovered by Outcrop.
From north to south Outcrop now has title over 20 kilometres of vein systems from 2 kilometres
north of the Royal Santa Ana mines and 5 kilometres southwest of the historic Frias mine (Figure 1).
The Frias mine is described in more detail in Outcrop's November's 15
th
news release
. The Royal
Santa Ana Mines – Frias Mine corridor has discovery potential along its entire length.
Figure 1. Property map showing vein systems, applications in brown and yellow and the new granted
titles outlined in black. All the drilling to date has occurred within the dashed-yellow polygon. The
new targets which will be drill tested starting in Q1 are 1- El Dorado North, 2- Los Naranjos, 3-
Alaska, 4- Chepe & Estrella, 5- La Isabela, 6- Las Maras and 7-Espiritu Santo. (CNW
Group/Outcrop Silver & Gold Corporation)
New Targets
Outcrop's exploration team has discovered seven new vein targets, located north and south of the
current area of drilling, all with high silver and gold grades on surface and easy access (Figure 2 and
Table 1). Surface permitting has commenced to start drilling the targets by priority in early 2022.
Outcrop's exploration team will continue prospecting and advancing the targets while its CSR teams
will engage communities within the titles to the south, including the Frias Mine area.
Targets to the north of the Royal Santa Ana mines include Dorado North, Los Naranjos, and
Alaska
,
each on different
Santa Ana
veins system extensions. The new targets to the south include Espiritu
Santo,
California
, La Estrella, and La Isabella. Mapping and sampling have also provided better
understanding of the earlier generated targets, including Las Maras and Chepe. Notably, the
California
target shows a high of 6,717 g EqAg/t at surface.
Figure 2. Map showing arsenic geochemistry, surface samples (floats/outcrop) color coded for silver
equivalent grades (diamonds), mapped and interpreted vein traces, discovered shoots to date (white
call outs) and new vein targets (yellow call outs). (CNW Group/Outcrop Silver & Gold Corporation)
Table 1. Float and outcrop samples with significant gold and silver concentrations collected during
2021 from new vein targets shown in figure 2. (CNW Group/Outcrop Silver & Gold Corporation)
La Ye Target
Five kilometres further south of the new targets identified, Baroyeca Gold and Silver Inc (Baroyeca)
recently released a high-grade vein intercept from its first phase drilling (Baroyeca Gold and Silver
Inc.
November 15, 2021
, News Release). Baroyeca has discovered an ore shoot on their single
title, the northwest corner of which clips the regional vein systems (Figure 1). This La Ye vein
system extends to the northeast and southwest directly onto titles held by Outcrop and provides an
additional high-potential target. This further confirms that the vein systems are continuous through
the length of Outcrop's project from north of the Royal Santa Ana Mines to south of El Porvenir Mine
over a distance of more than 30 kilometres.
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 100% owned
Santa Ana
project comprises over 36,000 hectares located in northern Tolima
Department,
Colombia
, 190 kilometres from
Bogota
. The project consists of five or more 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 Royal Santa Ana project, located at the northern extent of just one of the regional vein
systems controlled by Outcrop, seven high grade shoots have been discovered – La Ivana hanging-
wall and footwall (La Porfia vein system);
San Antonio
,
Roberto Tovar
,
San Juan
(Royal Santa Ana
vein systems);
El Dorado
(
El Dorado
and El Paraiso vein systems) 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 low angle veins appear to connect more common high
angle veins.
Outcrop drilling indicates that mineralization extends from surface or near surface to depths of at
least 300 metres. Cumulatively, over 60 kilometres of mapped and inferred vein zones occur on the
Santa Ana
project. The Frias Mine on the south-central part of the project, 12 kilometres south of
the Royal Santa Ana Mines produced 7.8 million ounces of silver post-production in the Spanish
colonial era at a recovered grade of 1.3 kg Ag/t. The Frias Mine is considered an analogue to each
of the seven shoots discovered to date by Outcrop.
Outcrop has advanced numerous target areas to the north, including north
Eldorado
that comprises
the northern extension of seven Royal Santa Ana veins for over 1 kilometre. The north
Eldorado
shows high values over 3.0 kg Ag/t. Between the Royal Santa Ana mines and Frias, veins have been
extended 2.8 kilometres to the south providing strong drill targets in the Espiritu Santo, Maras, and
El Christo veins that show high values up to 5.5 kg AgEq/t. These veins show widths up to 2.8 to 4.0
metres.
Sustainability
Outcrop is committed to sustainable exploration and has implemented environmental protocols, best
operating practices, and community-beneficial programs in Falan. Some of the established and
operating protocols and programs include high environmental standards for surface exploration and
drilling, environmental education and recycling programs for the community and company workers,
and collaborative efforts with local authorities and families for construction of apiaries and
sustainable gardens. Additionally, 60% of the Santa Ana´s project work force is local and 100% is
Colombian.
About Outcrop
Outcrop is rapidly advancing exploration on five silver and gold exploration projects with world-class
discovery potential in Colombia. Outcrop is currently drilling and expanding 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
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 6640, [email protected]
CO: Outcrop Silver & Gold Corporation
CNW 08:00e 07-DEC-21