Outcrop Silver Intersects 8.20 Metres of 669 Grams Silver Equivalent PER Tonne at Los Mangos
OUTCROP SILVER INTERSECTS 8.20
METRES OF 669 GRAMS SILVER
EQUIVALENT PER TONNE AT LOS MANGOS
VANCOUVER, BC
,
April 22, 2025
/CNW/ -
Outcrop Silver & Gold Corporation
(TSXV: OCG)
(OTCQX: OCGSF) (DE: MRG)
("Outcrop Silver")
is pleased to announce new high-grade results
from ongoing drilling at the Los Mangos vein, located in the central portion of the 100% owned Santa
Ana high-grade silver project in
Colombia
. These results continue to demonstrate the strength and
scale of the Los Mangos system, confirming both broad mineralized widths and continuity of high-
grade silver-gold mineralization at depth and along strike.
The latest drilling campaign has returned exceptional results, highlighted by hole DH457 which
intercepted 8.20 metres at 669 grams per tonne silver equivalent (Table 1). This represent one of
the most robust intercepts to date from our target area, located over 8 kilometres south of the
nearest defined resource. These results support Outcrop Silver's strategy of expanding high-grade
mineralization through significant step-outs along the fully permitted 17 kilometre mineralized vein
corridor.
Highlights
Hole DH457 intersected 8.20 metres grading 669 grams per tonne of silver equivalent in
the Los Mangos vein (Table 1).
This hole (DH457) intersected the junction of the Los Mangos and Mangos SE veins
(Figure 2), confirming the potential for wider zones carrying high-grade mineralization.
"We couldn't ask for a clearer signal of Santa Ana's upside: 8.20 metres averaging 669 g/t AgEq—
delivered from a hole drilled eight kilometres south of the existing resource. It's a game
changer that
validates our district
scale vision," states Ian Harris, President and CEO. "We are uncovering one of
the richest high
grade silver projects globally, and this results hints at more to come. Our team has
kept drills turning for twelve straight months, all feeding into a 2025 resource update designed to
materially grow our silver inventory. We remain committed to advancing Santa Ana responsibly and
to positioning Outcrop Silver as a premier name in the silver space."
The Los Mangos vein is a high-grade silver-gold system located in the central portion of Outcrop
Silver's Santa Ana Project, approximately 8 kilometres south of the current resource. As one of the
most significant step-out discoveries since the 2023 maiden resource estimate (refer to News
Release dated
April 26, 2023
), Los Mangos has rapidly emerged as a key growth target within the
company's district-scale exploration strategy (refer to News Release dated
March 18, 2024
,).
Target
Hole ID
From
(m)
To
(m)
Interval
(m)
Estimated
True Width
(m)
Au
g/t
Ag
g/t
AgEq
1
g/t
Vein
Los Mangos
DH454
239.52
240.91
1.39
0.85
2.32
26
201
Los Mangos
DH457
214.00
222.20
8.20
5.33
5.58
250
669
Los Mangos
Including
214.00
216.65
2.65
1.72
2.67
560
761
And
219.49
221.84
2.35
1.53
15.86
145
1,336
Table 1. Drill hole assay results reported in this release.
Drilling at Los Mangos has defined a vein system corridor with a strike length exceeding 350 metres,
with mineralization confirmed to depths beyond 200 metres. The vein trends between 40° to 60°,
dips steeply (60°–80°), and is hosted within green schists and granodioritic to dioritic dikes. Strong
argillic and sericitic alteration is closely associated with mineralization, particularly near the historic El
20 underground workings, which provide compelling evidence of the area's long-standing high-grade
potential (refer to News Release dated
November 12, 2024
). In addition to drilling, surface sampling
has returned assays up to 3,061 g/t AgEq (Table 2), further reinforcing the high-grade nature of the
system. The discovery and an ongoing delineation of the Los Mangos vein system highlight the
success of Outcrop Silver's large-scale, data-driven exploration strategy and underscore the
company's objective of significantly expanding the Santa Ana mineral resource through continued
systematic testing of its extensive, fully permitted 17-kilometre mineralized corridor.
Figure 1. The plan view of the Los Mangos vein target shows the drill holes reported in this release
(Table 1), previous reported holes and surface exploration samples (Table 2). Hole DH453
intercepted a faulted-vein zone with no significant results. No significant results means an intercept
lower than 200 g/t AgEq. (CNW Group/Outcrop Silver & Gold Corporation)
Figure 2. Geological cross-sections showing the Los Mangos vein system. The section width is 40
metres. (CNW Group/Outcrop Silver & Gold Corporation)
Sample
Easting
(m)
Northing
(m)
Elevation
(m)
Sample
Type
Au
g/t
Ag
g/t
AgEq
1
g/t
Release Date
15491
501854.0
556550.0
866.08
Dump Grab
8.07
234
840
August 23, 2023
17351
501681.0
556466.0
1012.00
Chip
0.22
297
314
March 12, 2025
17528
501846.0
556532.2
875.00
Dump Grab
8.04
301
905
March 12, 2025
17531
501847.0
556533.2
875.00
Dump Grab
7.15
81
618
March 12, 2025
17532
501844.0
556530.2
875.00
Dump Grab
0.56
3,019
3,061
March 12, 2025
17687
501659.0
556484.0
1028.00
Chip
3.73
907
1,187
March 12, 2025
17688
501660.0
556474.0
1035.00
Chip
3.04
344
572
March 12, 2025
17765
501754.0
556392.0
987.00
Dump Grab
12.57
215
1,159
March 12, 2025
17766
501742.0
556411.0
974.00
Chip
6.22
122
589
March 12, 2025
Table 2. Surface chip and grab sample results in the Los Mangos vein target from the regional
exploration program, including those previously reported and referred to in Figure 1 (see News
Releases dated
August 23, 2023
, and
March 12, 2025
).
*By their nature, grab samples are
selective, and the assay results may not necessarily represent true underlying mineralization.
Hole ID
Hole Code
Easting
(m)
Northing
(m)
Elevation
(m)
Depth
(m)
Azimuth
(°)
Dip
(°)
DH420
SALM24HD420
501916.349
556451.154
915.18
200.25
303
-45
DH423
SALM24DH423
501917.600
556451.345
915.19
164.71
333
-45
DH425
SALM24DH425
501915.818
556450.553
914.73
215.49
285
-55
DH428
SALM24DH428
501915.742
556450.146
915.19
227.99
273
-55
DH432
SALM24DH432
501881.348
556447.027
921.96
131.46
321
-45
DH434
SALM25DH434
501881.468
556446.758
922.44
151.66
310
-45
DH436
SALM25DH436
501797.491
556358.423
989.71
179.22
315
-51
DH438
SALM25DH438
501796.942
556358.077
989.68
210.61
298
-50
DH440
SALM25DH440
501796.528
556357.559
989.84
190.19
286
-45
DH442
SALM25DH442
501796.528
556357.559
989.84
201.47
335
-49
DH444
SALM25DH444
501796.901
556358.092
989.81
200.55
306
-58
DH447
SALM25DH447
501766.685
556378.891
998.44
120.09
325
-51
DH449
SALM25DH449
501797.565
556358.288
989.73
163.98
325
-58
DH451
SALM25DH451
501796.972
556357.896
989.75
250.24
302
-65
DH453
SALM25DH453
501796.830
556357.426
989.55
242.62
286
-59
DH454
SALM25DH454
501796.932
556357.896
989.59
286.20
305
-69
DH457
SALM25DH457
501797.401
556358.269
989.55
248.71
324
-65
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 activities Outcrop Silver applied its standard protocols for sampling and assay.
Underground channel samples were taken perpendicular to the vein and sample length was broken
by geology. Core diameter is a mix of HTW and NTW depending on the depth of the drill hole.
Diamond drill core boxes were photographed, sawed, sampled and tagged. Samples were bagged,
tagged and packaged for shipment by truck from Santa Ana's core logging facilities in Falan,
Colombia
to the Actlabs certified sample preparation facility in
Medellin, Colombia
. ActLabs is an
accredited laboratory independent of the Company. HQ-NTW core is sawn with one-half shipped.
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. 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). Mr.
Naranjo Sierra
is a consultant to the company and is therefore
independent for the purposes of NI 43-101.
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 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.
Marketing Service Agreement
Outcrop has entered into an agreement with Plutus Invest & Consulting GmbH ("Plutus") for
European marketing and advertising, public relations strategic consulting, and market consulting. The
consulting agreement with Plutus has a term of six months ending
October 3, 2025
, under which the
Company paid a fee of
100,000 EUR
in advance. The agreement may be renewed or terminated in
accordance with the terms. Plutus is a
Germany
-based company owned and operated by
Marco
Messina
who is arm's length to the Company and holds no securities, directly or indirectly of the
Company.
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
Silver 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 Silver 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 Silver will not update any
forward-looking statements or forward-looking information that are incorporated by reference.
SOURCE
Outcrop Silver & Gold Corporation
View original content to download multimedia:
http://www.newswire.ca/en/releases/archive/April2025/22/c8837.html
%SEDAR: 00005232E
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 22-APR-25