Outcrop Silver Announces Breakthrough Gravimetric Concentration Results FOR Santa Ana
OUTCROP SILVER ANNOUNCES
BREAKTHROUGH GRAVIMETRIC
CONCENTRATION RESULTS FOR SANTA ANA
VANCOUVER, BC
,
April 22, 2024
/CNW/ -
Outcrop Silver & Gold Corporation
(TSXV: OCG)
(OTCQX: OCGSF) (DE: MRG)
("Outcrop Silver")
is pleased to announce breakthrough results
from the initial gravimetric concentration test work as part of the program to enhance the already
high-recoveries at Santa Ana. This phase of testing has proven the effective recovery of silver and
gold through mechanical gravimetric processes before conventional flotation.
Highlights
Gravimetric concentration test successfully confirmed the recovery of silver from
mineralized material at Santa Ana before the conventional flotation processing.
The resulting silver and gold gravimetric concentrate yielded 2,883 grams per tonne of
silver and 164.12 grams per tonne of gold.
"We are thrilled about the latest gravimetric concentration tests having not only achieved concentrate
grades well exceeding 150 gold equivalent grams per tonne — a key marker for highly marketable
concentrates — but have also demonstrated significant potential for enhancing our overall recovery
rates. With a 7% recovery via gravimetric methods complementing our 93% flotation recoveries, and
without the use of cyanide, we are setting new benchmarks for economic viability and reducing our
environmental footprint in precious metals mining," comments
Ian Harris
, President and CEO. "This
positions the Santa Ana project as one of the world's highest-grade primary silver endeavors,
promising exceptional recoveries and highly marketable concentrates. We have already initiated the
next phase of test work to integrate gravimetric and flotation methods and look forward to sharing
these promising results as soon as they are available."
"Our exceptional flotation recoveries can largely be attributed to the predominance of argentite, a
silver sulfide, within the mineral composition at Santa Ana. However, the presence of significant
components of native silver and electrum also plays a critical role," explains
Guillermo Hernandez
,
VP of Exploration. "The recent test work not only confirmed the viability of recovering these forms of
silver through gravity concentration but also continued to yield excellent concentrate grades. The
combination of high recovery rates and high-grade concentrates truly sets Santa Ana apart as a
unique project in the mining sector."
Sample Preparation and Initial Tests:
Outcrop Silver has advanced its metallurgical test work by preparing four core sample composites
using coarse laboratory rejects (see news release dated
February 23, 2022
). Two samples were
taken from each vein: samples POR-01 and POR-02 from the La Porfia vein and samples PAR-01
and PAR-02 from the Paraiso vein. Each composite weighed 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.
Locked Cycle Flotation Tests:
The results of the final locked cycle flotation metallurgical balance for sample PAR-02 demonstrated
exceptional recovery rate, achieving 97.14% for gold and 92.85% for silver (Table 1), 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
).
Grades
Recoveries %
Product
Mass %
Ag g/t
Au g/t
Fe %
S %
Ag
Au
Fe
S
Final Concentrate
5.17
9,488
128.74
35.36
46.75
92.85
97.14
31.89
74.83
Tails
94.83
40
0.21
4.12
0.86
7.15
2.86
68.11
25.17
Calculated Head
100.00
512
6.30
6.02
3.54
100.00
100.00
100.00
100.00
Assayed Head
539
6.14
7.27
3.81
Table 1. Summary of Flotation Concentration Metallurgical Balance (News Release
August 23, 2023
).
Gravimetric Concentration Tests:
The latest phase of metallurgical work involved conducting gravimetric concentration tests on the
PAR-02 sample from the Paraiso vein as part of our continued efforts to enhance overall metal
recoveries at Santa Ana. These tests were performed at SGS Metallurgical Services Peru utilizing a
Falcon Gravity Concentrator. The resulting gravimetric concentrate demonstrated high grades and
recoveries, with gold assaying at 164.12 g/t and achieving a recovery rate of 30.52%. Additionally,
silver assayed 2,883 g/t with a recovery of 7.3%, while the sulfur recovery was 6.44%. These
results indicate the concentration of native silver and electrum, highlighting the potential to improve
the metallurgical efficiency of the Santa Ana project.
Tails from the gravimetric concentration test will be processed further using conventional flotation,
accounting for 92.7% of silver and 69.48% of gold. The mineralogical characterization from Santa
Ana has revealed that 88% of the silver is present as argentite, a silver sulfide (refer to News
Release dated
November 03, 2022
). This finding suggests the potential for an increase in the overall
recovery of silver when combining gravimetric concentration with conventional flotation methods.
Grades
Recovery %
Product
Mass %
Au g/t
Ag g/t
S %
Au
Ag
S
Gravimetric
Concentrate
1.31
164.12
2,883
17.60
30.52
7.30
6.44
Tails
98.69
4.95
486
3.39
69.48
92.70
93.56
Calculated Head
7.03
517
3.58
Assayed Head
6.67
539
3.52
Table 2. Summary of Gravimetric Concentration 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 Geology.
About Santa Ana
The 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.
Outcrop Silver wholly owns the project which has reported some of the highest historical silver
grades in
Latin America
.
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 is a pivotal initiative to not only amplify resource mineralization on
established veins but also explore new prospects along the project's extensive 18.5-kilometer strike
that is drill permitted. This campaign is designed to extend mineralization along strike and down dip
at key targets like El Dorado and to test new high-potential areas such as Aguilar-Guadual and Los
Mangos. 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
+1 604 294 9039
www.outcropsilverandgold.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:
Ian Harris, Chief Executive Officer, +1 604 294 9039,
[email protected], www.outcropsilverandgold.com; Kathy Li, Vice President of Investor
Relations, +1 778 783 2818, [email protected]
CO: Outcrop Silver & Gold Corporation
CNW 07:00e 22-APR-24