Outcrop Silver Extends LA Ye Vein System 450 Metres Along Strike and 200 Metres at Depth with High-Grade Silver Drill Intercepts
OUTCROP SILVER EXTENDS LA YE VEIN
SYSTEM 450 METRES ALONG STRIKE AND
200 METRES AT DEPTH WITH HIGH-GRADE
SILVER DRILL INTERCEPTS
VANCOUVER, BC
,
January 6, 2025
/CNW/ -
Outcrop Silver & Gold Corporation
(TSXV: OCG)
(OTCQX: OCGSF) (DE: MRG)
("Outcrop Silver")
is pleased to provide an update on drilling assay
results from the La Ye vein at its 100% owned Santa Ana high-grade silver project in
Colombia
.
Recent drilling has confirmed a 450 metre strike extension of La Ye vein, with mineralization
extending to 200 metres down-dip. These results reinforce the potential of the La Ye vein to make
substantial contribution to growth of the mineral resource at Santa Ana. Located approximately four
kilometres south of the existing mineral resource area, La Ye vein demonstrates high grade silver-
gold mineralization in both high-grade zones and broader mineralized intervals. These characteristics
underscore its scalability and strategic importance in driving the continued resource growth of the
Santa Ana project.
Drilling Highlights
Hole DH421 intercepted 2.41 metres grading 227 grams per tonne of silver equivalent in
the La Ye North vein (Table 1).
Hole DH429 intercepted 1.41 metres grading 457 grams per tonne of silver equivalent in
the newly discovered Lupe vein (Table 1).
Drilling at La Ye has extended the vein system by more than 450 metres along strike and
200 metres down-dip (Figure 1 and Figure 2).
Multiple intercepts in veins such as La Ye SH, La Ye North, and the La Lupe splay
confirm the continuity of mineralization along strike and at depth.
Drilling in La Ye has revealed the potential for wider vein zones or splayouts
demonstrated by the newly identified Lupe vein.
"The recent results from La Ye highlight its exceptional potential to contribute to mineral resource
expansion and together with the discovery of the Lupe vein shows the scalability and continuity of the
system," comments
Guillermo Hernandez
, Vice President of Exploration. "These findings reinforce
La Ye's role as a cornerstone of our exploration efforts at the Santa Ana project. Its proximity to
other major veins and expanding footprint underscores the district's immense potential, positioning
Santa Ana as a potential world-class primarily silver project with transformative resource growth
opportunities."
The La Ye vein is a high-grade silver-gold system within Outcrop Silver's Santa Ana project,
characterized by its confirmed strike length over 450 metres and mineralization extending to 200
metres down-dip (Figure 1 and Figure 2). The vein system trends at an azimuth of 225° in azimuth,
dips 55° to the west, and is hosted in weakly altered green schists. Surface expressions of La Ye
vein include mineralized quartz veins with drusy textures, moderate sulfide mineralization such as
pyrite and argentite, and sheared vein zones observable in outcrop exposures.
Target
Hole ID
From
(m)
To
(m)
Interval
(m)
Estimated True
Width
(m)
Au
g/t
Ag
g/t
AgEq
1
g/t
Vein
La Ye
DH413
90.83
91.24
0.41
0.27
0.83
85
148
Vein
DH413
209.37
209.67
0.30
0.20
1.65
96
220
La Ye
DH414
143.00
146.79
0.60
0.40
0.89
94
161
La Ye SH
DH414
146.49
146.79
0.30
0.20
3.75
161
443
La Ye SH
DH416
95.85
96.20
0.35
0.32
1.28
291
388
La Ye
DH418
123.19
123.57
0.38
0.26
1.17
67
154
La Ye
DH421
77.83
78.82
0.99
0.63
0.12
356
365
La Ye SH
Including
77.83
78.17
0.34
0.22
0.27
1,024
1,044
DH421
83.67
85.16
1.49
0.91
1.08
16
97
La Ye SH
DH421
110.47
112.88
2.41
1.36
1.69
100
227
La Ye North
Including
112.55
112.88
0.33
0.19
12.07
687
1,594
DH422
148.46
149.06
0.60
0.45
0.77
78
135
La Ye SH
DH422
197.37
197.97
0.60
0.42
2.56
131
323
La Ye North
Including
197.67
197.97
0.30
0.21
5.08
258
639
DH424
73.21
73.51
0.30
0.19
1.27
56
151
Vein
DH424
220.76
221.07
0.31
0.17
3.63
259
531
La Ye North
DH426
51.41
52.62
1.21
1.18
0.34
73
98
La Lupe splay
DH426
58.85
59.15
0.30
0.29
0.95
475
547
La Lupe
DH427
Pending Assays
DH429
87.26
88.02
0.76
0.44
0.35
86
112
La Lupe splay
DH429
90.61
92.02
1.41
0.81
2.02
305
457
La Lupe
Including
91.17
91.50
0.33
0.19
6.78
1,207
1,716
DH430
Pending Assays
Table 1. Drill hole assay results reported in this release.
Recent drilling includes hole DH421, which intercepted 2.41 metres at 227 g/t AgEq in the La Ye
North vein, including a high-grade section of 0.33 metres at 12.07 g/t Au and 687 g/t Ag, and hole
DH429, which returned 1.41 metres at 457 g/t AgEq, with 0.33 metres at 1,716 g/t AgEq in the
newly discovered La Lupe vein (Table 1). Additionally, narrower mineralized intercepts at La Ye
North vein include hole DH422 (0.60 metres at 323 g/t AgEq) and hole DH424 (0.31 metres at 531
g/t AgEq).
Surface sampling has returned exceptional grades, including up to 2,553 g/t AgEq (Table 2),
highlighting its high-grade potential. The recent discovery of the sub-parallel Lupe vein and broader
splays reinforces the geological complexity and scalability of the La Ye system, making it a key
contributor to the future resource expansion strategy at Santa Ana. The system also hosts multiple
parallel and concealed veins, similar to the nearby Aguilar vein system, further enhancing its
resource potential.
Strategically located within a priority exploration corridor, parallel to the Aguilar vein, La Ye presents
significant potential for the discovery of additional, yet undiscovered, vein systems (Figure 1). With
consistent high-grade results and a systematic drilling approach, La Ye is rapidly emerging as an
essential target within the Santa Ana project, contributing substantially to potential resource
expansion and the project's long-term development.
Figure 1. Plan view of La Ye vein target showing the drill holes reported in this release (Table 1),
previous drilling, and samples previously reported (Table 2). For details on previous drill holes, see
News Releases dated October 8, 2024 (https://outcropsilver.com/news/outcrop-silver-makes-a-
discovery-at-la-ye-vein-in-santa-ana/) and November 19, 2024
(https://outcropsilver.com/news/outcrop-silver-continues-to-intercept-high-grade-silver-at-la-ye-
discovery/). (CNW Group/Outcrop Silver & Gold Corporation)
Sample
Easting
(m)
Northing
(m)
Elevation
(m)
Sample
Type
Width
(m)
Au
g/t
Ag
g/t
AgEq
1
g/t
Release Date
15604
504063.000
560203.000
991.13
Chip
13.21
462
1,454
August 23, 2022
15605
503959.535
560159.363
1004.98
Channel
0.40
5.48
2,141
2,553
August 23, 2022
15606
503931.000
560137.000
1006.49
Chip
5.68
954
1,381
August 23, 2022
15611
503885.000
560352.000
1023.17
Chip
7.11
458
992
August 23, 2022
16182
504271.000
560431.000
998.81
Chip
5.55
1,013
1,430
August 23, 2022
16184
504172.000
560416.000
1004.64
Chip
3.25
828
1,073
August 23, 2022
17604
503879.000
560196.000
1039.00
Chip
2.44
291
474
Current Release
17606
503801.000
560221.000
1055.00
Chip
5.99
742
1,192
Current Release
17925
503884.000
560143.000
1052.00
Chip
0.20
6.73
431
936
November 19, 2024
Table 2. Channel and Chip sample results in La Ye vein target from the target generation program
previously reported and referred to in Figure 1 (see News Releases dated
August 23, 2022
and
November 19, 2024
).
Figure 2. West to East geological cross-sections showing La Ye vein system. (CNW Group/Outcrop
Silver & Gold Corporation)
Hole ID
Hole Code
Easting
(m)
Northing
(m)
Elevation
(m)
Depth
(m)
Azimuth
(°)
Dip
(°)
DH402
SALY24DH402
503816.948
560141.571
1038.15
119.78
135
-55
DH404
SALY24DH404
503816.656
560141.847
1038.05
145.45
135
-81
DH405
SALY24DH405
503813.641
560141.309
1038.04
154.22
224
-70
DH407
SALY24DH407
503816.948
560141.571
1038.15
136.55
86
-61
DH408
SALY24DH408
503759.371
560189.590
1046.62
207.26
129
-70
DH410
SALY24DH410
503759.107
560189.824
1046.40
246.91
129
-80
DH413
SALY24DH413
503757.902
560189.832
1046.39
228.29
181
-75
DH414
SALY24DH414
503759.417
560190.980
1046.39
281.02
93
-60
DH416
SALY24DH416
503906.552
560213.726
1026.21
157.27
135
-50
DH418
SALY24DH418
503906.973
560215.117
1026.34
163.06
97
-56
DH419
SALY24DH419
503904.946
560213.248
1026.47
120.48
179
-45
DH421
SALY24DH421
503905.704
560214.773
1026.57
198.12
135
-81
DH422
SALY24DH422
503825.744
560270.594
1046.26
245.36
122
-65
DH424
SALY24DH424
503826.182
560270.957
1046.51
290.16
111
-77
DH426
SALY24DH426
504045.744
560349.535
1011.06
138.37
137
-45
DH427
SALY24DH427
504046.137
560349.100
1010.90
149.04
137
-67
DH429
SALY24DH429
504046.120
560350.255
1010.74
113.08
0
-90
DH430
SALY24DH430
504043.409
560350.098
1010.70
151.48
101
-52
Table 3. Collar and survey table for drill holes reported and referred to in this release. All
coordinates are UTM system, Zone 18N, and WGS84 projection.
1
Silver equivalent
Metal prices used for equivalent calculations were
US$1,800
/oz for gold, and
US$25
/oz for silver.
Metallurgical recoveries based on Outcrop Silver's metallurgical test work are 97% for gold and 93%
for silver (see news release dated
August 23, 2023
). The
equivalency formula
is as follows:
Equivalency formula (CNW Group/Outcrop Silver & Gold Corporation)
QA/QC
For exploration core drilling, Outcrop Silver applied its standard protocols for sampling and assay.
HQ-NTW core is sawn with one-half shipped. Core samples were sent to either ALS, Actlabs or
SGS in
Medellin, Colombia
, for preparation. Samples delivered to Actlabs were AA assayed on Au,
Ag, Pb, and Zn at
Medellin
using 1A2Au, 1A3Au, Multi-elements AR (Ag Cu Pb Zn), and Code 8
methods. Then, samples were sent to Actlabs Mexico for ICP-multi-elemental analysis with code
1E3. After preparation, the samples sent to ALS Colombia were shipped to ALS Lima for assaying
using Au-ICP21, Au-GRA21, ME-MS41, Ag-GRA21, Ag-AA46, Pb-AA46, and Zn-AA46 methods. In
line with QA/QC best practices, blanks, duplicates, and certified reference materials are inserted at
approximately three control samples every twenty samples into the sample stream, monitoring
laboratory performance. A comparison of control samples and their standard deviations indicates
acceptable accuracy of the assays and no detectible contamination. No material QA/QC issues have
been identified with respect to sample collection, security and assaying. The samples are analyzed
for gold and silver using a standard fire assay on a 30-gram sample with a gravimetric finish for
over-limits. Multi-element geochemistry was determined by ICP-MS using either aqua regia or four
acid digestions. Crush rejects, pulps, and the remaining core are stored in a secured facility at Santa
Ana for future assay verification.
Qualified Person
Edwin Naranjo Sierra
is the designated Qualified Person within the meaning of the National
Instrument 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 Geologists.
About Santa Ana
The 100% owned Santa Ana project covers 27,000 hectares within the Mariquita District, through
titles and applications, 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 current drilling campaign aims to extend known mineralization and test new high-potential areas
along the permitted section of the project's extensive 30 kilometres of mineralized trend. This year's
exploration strategy aims to demonstrate a clear pathway to substantially expand the resource.
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
Kathy Li
Vice President of Investor Relations
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, +1 604 638 2545,
[email protected]; Kathy Li, Vice President of Investor Relations, +1 778 783 2818,
[email protected]; www.outcropsilver.com
CO: Outcrop Silver & Gold Corporation
CNW 07:30e 06-JAN-25