Outcrop Silver Achieves Exceptional Recovery of 96.3% Silver and 98.5% GOLD IN Updated Metallurgical Testing at Santa Ana
OUTCROP SILVER ACHIEVES EXCEPTIONAL
RECOVERY OF 96.3% SILVER AND 98.5%
GOLD IN UPDATED METALLURGICAL
TESTING AT SANTA ANA
VANCOUVER, BC
,
June 25, 2024
/CNW/ -
Outcrop Silver & Gold Corporation
(TSXV: OCG)
(OTCQX: OCGSF) (DE: MRG)
("Outcrop Silver")
is pleased to announce significant improvements
in gold and silver recovery following metallurgical testing at its flagship Santa Ana project. This
recent comprehensive test work, a follow-up to previous flotation-only and gravimetric-only tests
(see news releases dated
August 23, 2023
, and
April 22, 2024
), combined gravimetric separation
followed by flotation of the gravimetric tails. The results demonstrated remarkable recovery rates of
96.3% for silver and 98.5% for gold.
Key Highlights:
High-Efficiency Recovery:
The integrated gravimetric and flotation test work resulted in an
overall recovery of 96.3% for silver and 98.5% for gold, setting a new benchmark for the
project.
Initial Gravimetric Concentration:
The gravimetric process alone recovered 7.6% of silver
and 35.8% of gold, with the gravimetric concentrate assaying at 2,883 g/t silver and 164 g/t
gold.
Subsequent Flotation Recovery:
Flotation of gravimetric tails recovered and additional 88.6%
of the remaining silver and 62.7% of the remaining gold, with rougher concentrate grades
reaching 4,356 g/t silver and 37.5 g/t gold.
Unique Mineralogy:
The process highlights the project's distinctive mineral composition where
88% of the silver is in the form of argentite—a silver sulfide which is amenable to flotation,
enhancing recoverability and high-grade concentrates.
"The exceptional recoveries of both silver and gold at the Santa Ana project, achieved through
environmentally conscious methods, underscore the uniqueness of Santa Ana as one of the world's
highest-grade undeveloped primary silver deposits. Our ability to achieve incredible recovery rates
and produce high-grade concentrates demonstrates the project's efficiency in extracting significant
value from the ground," comments
Ian Harris
, President and CEO. "This significantly de-risks the
Santa Ana project and is very promising as we continue our drilling operations to potentially expand
the existing resources dramatically."
Sample Preparation and Previous tests
Outcrop Silver commenced its metallurgical test program by preparing four core sample composites
using coarse laboratory rejects (see news release dated
February 23, 2022
). Two samples for each
vein as follow: samples POR-01 and POR-02 for the La Porfia vein and samples PAR-01 and PAR-
02 for Paraiso vein. Each composite weighted approximately 50 kilograms, and represented two
metallurgical domains: high-grade and low-grade. The high-grade composites represent the average
grade in the ore-shoot, while the low-grade represents Outcrop Silver's "significant result" threshold.
The final locked cycle flotation metallurgical balance results for sample PAR-02 demonstrated an
exceptional recovery rate, achieving 97.14% for gold and 92.85% for silver; this process produced a
high-grade concentrate grading of 128.74 grams per tonne of gold and 9,488 grams per tonne of
silver (see News Release dated
August 23, 2023
).
Gravimetric Concentration Tests
The gravimetric concentration tests on the PAR-02 sample from Paraiso vein were performed at
SGS Metallurgical Services Peru utilizing a Falcon Gravity Concentrator, resulting in recovery rates
of 30.52% for gold and 7.3% for silver (see News Release dated
April 22, 2024
).
Sequential Gravimetric and Flotation Concentration Tests
The conventional open cycle flotation was applied to the general tails from the gravimetric
concentration test following the conditions from the previous flotation tests (see News Release dated
August 23, 2023
) as main guidelines (Figure 1). SGS Metallurgical Services Peru executed this
program with all analyses performed at SGS Geochemical Services Laboratory in
Lima, Peru
.
The Rougher flotation concentrate returned grades of 4,357 grams per tonne of silver and 37.47
grams per tonne of gold for 88.64% and 62.74% recoveries, respectively (Table 2). Together with
the gravimetric concentration results, the current test work achieved a remarkable global recovery of
96.28% for silver and 98.52% for gold (Table 1), confirming Outcrop Silver's goal of maximizing
metallurgical recoveries by combining physical methods on the mineralized material from Santa Ana
project.
Grades
Recoveries
Product
Mass
%
Ag
g/t
Au
g/t
Fe
%
S
%
Ag
%
Au
%
Fe
%
S
%
Gravimetric Conc.
1.31
2,883
164.12
16.66
17.60
7.64
35.79
3.26
6.30
Rougher Conc.
10.04
4,357
37.47
26.48
31.69
88.64
62.74
39.80
87.14
Global
11.35
4,187
52.07
25.35
30.07
96.28
98.52
43.06
93.45
Tails
88.65
21
0.10
4.29
0.27
3.72
1.48
56.94
6.55
Calculated Head
100.00
494
6.00
6.68
3.65
100.00
100.00
100.00
100.00
Assayed Head
539
6.67
6.94
3.52
Table 1. Summary of Global Metallurgical Balance.
Figure 1. Sequential Gravimetric and Flotation Metallurgical Testing flow chart. (CNW
Group/Outcrop Silver & Gold Corporation)
Product
Mass
%
Grades
Recoveries
Ag
g/t
Au
g/t
Fe
%
S
%
Ag
%
Au
%
Fe
%
S
%
Gravimetric Concentrate
1.31
2883
164.12
16.66
17.60
7.64
35.79
3.26
6.30
Gravimetric tails
98.69
486
4.41
6.72
3.39
92.36
64.21
96.74
93.70
Rougher Concentrate
10.04
4357
37.47
26.48
31.69
88.64
62.74
39.80
87.14
Cleaner Concentrate III
3.49
8590
82.54
37.98
50.04
60.75
48.03
19.84
47.83
Medium III
1.81
5139
40.03
35.72
47.89
18.86
12.08
9.68
23.75
Medium II
0.89
1427
5.97
19.59
20.04
2.58
0.89
2.62
4.90
Scavenger Concentrate
0.77
2465
6.60
26.19
28.67
3.83
0.84
3.00
6.02
Scavenger tails
3.08
421
1.73
10.10
5.51
2.63
0.89
4.66
4.65
General Tails
88.65
21
0.10
4.29
0.27
3.72
1.48
56.94
6.55
Calculated Head
100.00
494
6.00
6.68
3.65
100.00
100.00
100.00
100.00
Assayed Head
539
6.67
6.94
3.52
Table 2. Summary of Global Metallurgical Balance.
Qualified Person
Edwin Naranjo Sierra
is the designated Qualified Person for this news release within the meaning of
the National Instrument 43-101 (NI 43-101) and has reviewed and verified the technical information in
this news release. Mr. Naranjo holds a MSc. in Earth Sciences, and is a Fellow of the Australasian
Institute of Mining and Metallurgy (FAusIMM) and the Society of Economic Geologist.
About Santa Ana
The 100% owned Santa Ana project covers 27,000 hectares within the Mariquita District, known as
the largest and highest-grade primary silver district in
Colombia
with mining records dating back to
1585.
Santa Ana's maiden resource estimate, detailed in the NI 43-101 Technical Report titled "Santa Ana
Property Mineral Resource Estimate," dated
June 8, 2023
, prepared by AMC Mining Consultants,
indicates an estimated indicated resource of 24.2 million ounces silver equivalent at a grade of 614
grams per tonne and an inferred resource of 13.5 million ounces at a grade of 435 grams per tonne.
The identified resources span seven major vein systems that include multiple parallel veins and ore
shoots: Santa Ana (
San Antonio
,
Roberto Tovar
,
San Juan
shoots); La Porfia (La Ivana); El Dorado
(El Dorado, La Abeja shoots); Paraiso (Megapozo); Las Maras; Los Naranjos, and La Isabela.
The 2024 drilling campaign aims to extend known mineralization and test new high-potential areas
along the project's extensive 30 kilometres of strike. These efforts underscore the scalability of
Santa Ana and its potential for substantial resource growth, positioning the project to develop into a
high-grade, economically viable, and environmentally responsible silver mine.
About Outcrop Silver
Outcrop Silver is a leading explorer and developer focused on advancing its flagship Santa Ana high-
grade silver project in
Colombia
. Leveraging a disciplined and seasoned team of professionals with
decades of experience in the region. Outcrop Silver is dedicated to expanding current mineral
resources through strategic exploration initiatives.
At the core of our operations is a commitment to responsible mining practices and community
engagement, underscoring our approach to sustainable development. Our expertise in navigating
complex geological and market conditions enables us to consistently identify and capitalize on
opportunities to enhance shareholder value. With a deep understanding of the Colombian mining
landscape and a track record of successful exploration, Outcrop Silver is poised to transform the
Santa Ana project into a significant silver producer, contributing positively to the local economy and
setting new standards in the mining industry.
ON BEHALF OF THE BOARD OF DIRECTORS
Ian Harris
Chief Executive Officer
+1 604 638 2545
www.outcropsilver.com
Kathy Li
Vice President of Investor Relations
+1 778 783 2818
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
SOURCE
Outcrop Silver & Gold Corporation
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For further information:
For further information: Ian Harris, Chief Executive Officer, +1 604 638
2545, [email protected], www.outcropsilver.com; Kathy Li, Vice President of Investor
Relations, +1 778 783 2818, [email protected]
CO: Outcrop Silver & Gold Corporation
CNW 07:30e 25-JUN-24