Outcrop Silver Identifies New 3.5 Metre Wide Aguilar Vein Extending the Mapped Vein System at Santa Ana to 12 Kilometres
OUTCROP SILVER IDENTIFIES NEW 3.5
METRE WIDE AGUILAR VEIN EXTENDING
THE MAPPED VEIN SYSTEM AT SANTA ANA
TO 12 KILOMETRES
VANCOUVER, BC
,
May 9, 2022
/CNW/ -
Outcrop Silver & Gold Corporation
(TSXV: OCG)
(OTCQX: OCGSF) (DE: MRG1)
("Outcrop")
is pleased to announce a newly identified vein at
Santa Ana, Aguilar, which is up to 3.5 metres wide in outcrop. The new zone can be traced in
outcrop and float for over 1,000 metres and is comprised of multiple parallel vein structures showing
values up to 1,915 g Ag/t and 16.9 g Au/t at surface. Aguilar is 3,000 metres southwest of the
Espiritu target on a newly drill permitted title. Including Aguilar, the vein systems at Santa Ana have
been mapped and sampled for a continuous 12 kilometres in length.
Additional high-grade drill intercepts have also been drilled in La Isabela shoot and along El Dorado
and Espiritu Santo veins. A high-grade intercept in the El Dorado vein is located 420 metres north of
the recently announced La Abeja shoot and may represent another shoot in the northern El Dorado
vein.
Highlights
The Aguilar vein, identified in April shows local widths up to 3.5 metres at surface, with
values in outcrop and float up to 1,915 g Ag/t and 16.9 g Au/t. Aguilar is 3,000 metres
south of the Espiritu target on a newly drill permitted title.
Current drilling has defined La Isabela shoot 150 metres along the surface and 90 metres
at depth. Additional drilling is planned to define La Isabela at depth.
La Isabela is comprised of three or more stacked vein segments, each of which may
contribute to potential resource areas.
Current drilling along El Dorado vein confirms high-grade mineralization 420 metres
north of the recently discovered La Abeja shoot.
The Espiritu target returned 0.72 metres true thickness of 597 grams silver equivalent
per tonne and may contain a new shoot.
"We are excited to continue to identify additional new high-grade veins at Santa Ana's district scale
property," states
Joseph Hebert
, Chief Executive Officer. "New veins and expanding shoots continue
to add to the potential resource areas which will be incorporated into the maiden resource planned
for completion by the end of 2022."
Aguilar Vein Target
Reconnaissance mapping and sampling identified the new Aguilar vein, located 3,000 metres south
of the Espiritu target on a newly drill permitted title. Aguilar can be traced for 1,000 metres and is
locally 3.5 metres wide in outcrop and 4.0 metres wide in related float boulders. Locally multiple
parallel vein segments are observed. Mapping suggests higher grade mineralization occurs at
flexures within the dominant northeast trend of the veins. These flexures are interpreted to represent
structural intersections between northerly trending faults and northwest trending lineaments that may
focus drill testing. The Aguilar Vein may represent part of a 3.8-kilometre vein zone, continuous with
the Espiritu Santo and
Mina Cristo
target areas to the north. Eight of seventeen significantly
anomalous prospecting samples shown in Table 2 have values greater than 1 kilogram silver
equivalent per tonne with a high of 2,935 grams silver equivalent per tonne. El Guadual (inset on
Map 1 and shown on Map 2) probably represents a direct continuation of Aguilar to Espiritu.
Samples from El Guadual are pending.
Map 1. The Aguilar vein can be traced for 1,000 metres in outcrop and float (CNW Group/Outcrop
Silver & Gold Corporation)
Sample No
Type
Lithology
Au g/t
Ag g/t
Pb %
Zn %
AgEq g/t
RX5805
Float
Quartz Vein
10.14
386
0.07
0.02
1,129
RX5806
Float
Quartz Vein
2.92
343
0.07
0.03
559
RX5808
Float
Quartz Vein
16.87
1,703
0.03
0.07
2,939
RX5810
Float
Quartz Vein
1.58
234
0.01
0.00
349
RX5811
Float
Quartz Vein
6.46
772
0.03
0.05
1,246
RX5812
Float
Quartz Vein
13.07
1,915
0.09
0.10
2,875
RX5630
Float
Quartz Vein
5.74
1,020
0.28
0.01
1,447
RX5644
Outcrop
Quartz Vein
1.57
349
0.09
0.01
466
RX5645
Outcrop
Quartz Vein
1.14
441
0.10
0.03
527
RX5646
Float
Quartz Vein
0.96
312
0.11
0.01
385
RX5648
Outcrop
Quartz Vein
0.80
122
0.10
0.01
183
RX5649
Outcrop
Shear Zone
1.38
104
0.14
0.01
208
RX5653
Float
Quartz Vein
5.98
1,282
0.39
0.08
1,730
RX5654
Outcrop
Quartz Vein
5.64
1,045
0.18
0.10
1,464
RX5813
Float
Quartz Vein
4.24
246
0.07
0.51
572
RX5814
Float
Quartz Vein
4.46
1,050
0.16
0.04
1,380
RX5822
Float
Quartz Vein
4.73
581
0.05
0.01
928
Table 1. Significant rock chips samples on the new Aguilar vein.
Map 2. Twelve kilometres of mapped vein zones at Santa Ana permitted for drilling. (CNW
Group/Outcrop Silver & Gold Corporation)
La Isabela
Drilling at La Isabela shows that the shoot is comprised of multiple parallel stacked vein splays or
vein segments. Each segment has the potential to contribute to the planned maiden resource.
Preliminary drilling indicates that the stacked vein group at La Isabela extends 150 metres along
strike and 90 metres at depth. Additional drilling is planned to delineate the dimensions of the shoot
and define individual vein segments and splays.
Figure 1. Cross section showing multiple stacked veins in La Isabela. (CNW Group/Outcrop Silver &
Gold Corporation)
Figure 1. Cross section showing multiple stacked veins in La Isabela. (CNW Group/Outcrop Silver &
Gold Corporation)
Espiritu Santo Vein
Espiritu Santo vein is 1.1 kilometres south of the
San Antonio
shoot which is a part of the Santa Ana
vein system. While the Santa Ana veins trend north-northeast, Espiritu Santo, like La Isabela, trends
northeast. Drillhole 220 confirms continuity from high-grade float boulders at surface to 0.74 metres
at 597 grams equivalent silver per tonne 50 metres down-dip from the surface projection of the vein.
Espiritu Santo represents a significantly untested target for a new shoot.
El Dorado and Abeja
Continued drilling indicates several shoots remain open at depth and occur along a 950-metre
section of the Dorado Vein. These shoots include El Dorado and La Abeja. 420 metres north of La
Abeja a narrow intercept containing 0.3 metres at 2,762 grams extends significant mineralization into
the Figueroa target. Mineralization for Abeja and Figueroa is open at depth and represents a
significant area of potential resource.
Figure 2. Drilling along the El Dorado vein shows mineralization occurring within a zone 950 metres
long. One drill-hole in the Figueroa target 420 metres north La Abeja may represent near continuous
mineralization between the two or a newly discovered shoot. (CNW Group/Outcrop Silver & Gold
Corporation)
Map 3. Location of Santa Ana shoots and potential resource areas. Aguilar vein is 3,000 metres
south of Espiritu Santo. (CNW Group/Outcrop Silver & Gold Corporation)
Target
Hole ID
From
(m)
To (m)
Width
(m)
True
Thickness
(m)
g Au/t
g Ag/t
%
Pb
%
Zn
g/t
AuEq
g/t
AgEq
La Isabela
SALI22DH202
68.88
70.10
1.22
1.15
1.09
527
0.13
0.01
8.34
609
La Isabela
SALI22DH204
69.48
69.78
0.30
0.23
13.73
208
0.08
0.08
16.63
1,216
La Isabela
SALI22DH204
106.15
106.8
0.65
0.50
1.39
271
0.15
0.13
5.20
380
La Isabela
SALI22DH209
49.63
49.93
0.30
0.27
11.87
2,090
0.60
0.52
40.86
2,986
La Isabela
SALI22DH209
61.07
61.42
0.35
0.31
3.87
954
0.41
0.11
17.09
1,249
Espiritu Santo
SAES22DH220
145.87
146.61
0.74
0.72
2.92
352
0.37
0.82
8.17
597
La Abeja
SAED22DH203
162.10
164.32
2.22
1.52
9.74
2,014
1.34
1.18
38.18
2,790
La Abeja
SAED22DH225
60.23
60.53
0.30
0.25
5.18
2,312
0.81
1.85
37.79
2,762
Metal prices used for equivalent calculations were
$1,850
/oz for gold,
$25
/oz for silver,
$0.97
/lb
for lead and
$1.09
/lb for zinc. SAL122DH202 and SAED22DH203 were previously reported.
Table 2. Significant vein intercepts in La Isabela, La Abeja and Espiritu Santo.
Hole ID
Easting
Northing
Elevation (m)
Depth (m)
Azimuth
Dip
Target/Shoot
SALI22DH204
504852.12
563935.28
971.56
116.43
155
-72
La Isabela
SALI22DH209
504732.36
563851.50
952.25
146.60
105
-45
La Isabela
SAES22DH220
506081.53
564122.34
879.54
170.38
93
-45
Espiritu Santo
SAED22DH225
505916.90
567774.38
925.00
151.18
120
-67
El Dorado
Table 3. Collar and survey table for holes reported in this release.
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 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, ten 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, La Abeja (El Dorado vein systems), Megapozo, Paraiso (El Paraiso vein
system) and La Isabela. 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, 16 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 ten shoots discovered to date by Outcrop. Between the Royal Santa Ana Mines and towards
the Frias Mine, veins have been extended to the south providing strong drill targets in the Aguilar,
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. In total 12 kilometres of vein zones have been mapped
between El Dorado vein to the north and the Aguilar vein to the southeast.
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
Joseph P Hebert, Chief Executive Officer
Investor Relations
+1 775 340 0450
+1 778 330 3835
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, Investor Relations, +1 775 340
0450, +1 778 330 3835, [email protected], [email protected],
www.outcropsilverandgold.com
CO: Outcrop Silver & Gold Corporation
CNW 07:00e 09-MAY-22