Prospecting Extends the Santa Ana Vein System by 2.4 Kilometers with Sampled Veins to 5,642 Grams Equivalent Silver per Tonne and Widths to 2.8 Metres
Prospecting Extends the Santa Ana Vein
System by 2.4 Kilometers with Sampled Veins
to 5,642 Grams Equivalent Silver per Tonne
and Widths to 2.8 Metres
VANCOUVER, BC
,
July 20, 2021
/CNW/ -
Outcrop Silver & Gold Corporation
(TSXV: OCG)
(OTCQX: OCGSF) (DE: MRG1) ("
Outcrop
") is pleased to announce results from reconnaissance
prospecting that expands the Santa Ana vein system 2.4 kilometres from the southern extent of
current drilling. The most recent area of sampling is the Espiritu Santo target. Espiritu Santo appears
to align with the historic mining areas of Mina Christo and Frias, 2.4 kilometres and 10 kilometres
respectively from the central area of Santa Ana colonial mining. All targets and most historic mines
within this prolific silver-gold trend are 100% owned by Outcrop.
Highlights
Recently discovered vein outcrop and float that assay up to 4.7 g Au/t and 5,242 g Ag/t.
A new target Espiritu Santo is 1,100 metres south of Outcrop's
San Antonio
discovery.
Mina Christo is 1,300 metres south of Espiritu Santo extending the Santa Ana vein
system 2.4 kilometres in total.
The Santa Ana vein system may continue another 8 kilometres south from Mina Christo
to the 100% Outcrop-owned Frias mine. Frias has a reported historic production of ten
million ounces of silver.
Outcropping veins in Espiritu Santo are up to 2.8 metres wide. Mineralized boulders in
the area include veins up to 4 metres thick.
Multiple caved workings suggest Spanish colonial mining also occurred in Espiritu
Santo.
"Outcrop is excited to receive initial results from reconnaissance prospecting south along extensions
of the Santa Ana vein system. Sampling clearly suggests mineralization associated with the Santa
Ana vein system extends kilometres from areas being currently explored and drilled," comments
Joseph Hebert
, Chief Executive Officer. "The six large high-grade shoots discovered to date
represent only a small part of the larger Santa Ana vein system which is likely to extend for more
than 20 kilometres. Outcrop controls a world-class silver-gold vein system to systematically explore
and drill."
Espiritu Santo Target and Mina Christo
Espiritu Santo is 1,100 metres south of the
San Antonio
discovery and appears to connect the east
side of the Santa Ana vein system with Mina Christo another 1,300 metres further south where
mineralized veins have been observed by Outcrop geologists. Espiritu Santo shows several
outcropping veins ranging from 0.6 to 2.8 metres wide and areas of float that include vein boulders
up to 4 metres wide. Samples in the area range from 128 to 5,643 g eq Ag/t. The veins are sub
vertical and trend northeast and can be traced for over 100 metres. Several caved mine workings
suggest Spanish colonial mining was conducted in the area. The veins commonly show clots and
bands of pyrite, sphalerite, and galena, similar in habit and character to that seen in Outcrop's
discoveries 1.1 kilometres to the north. The aligned outcropping high-grade veins will provide drill
targets with little additional work, but the vein will be traced by soils and trenching.
Mina Christo has been mapped by Outcrop and shows a package of grouped veins from 0.2 to 0.7
metres wide with apparent low-angle veins ramping between high-angle veins. Samples for Mina
Christo reported by the government agency Ingeominas in 1975 show gold values to 45 g Au/t and
silver values to 2,576 g Ag/t but details of the sampling are not provided. Sampling that Outcrop has
received from a third party showed twelve samples in the Mina Christo area that assayed from 500
to 5,242 g Ag/t. These sample locations are shown in Map 1.
Table 1. Outcrop's Surface Sampling Results new target areas.
Sample No
Type
Width m
Au g/t
Ag g/t
Pb %
Zn %
AuEq g/t
AgEq g/t
RX4206
Float
4.17
5,242
1.91
1.83
77.2
5,643
RX4193
Outcrop
0.6
5.89
1,857
1.29
0.08
31.7
2,319
RX4194
Float
8.67
881
0.10
0.02
20.8
1,518
RX4203
Float
1.10
1,381
0.04
0.00
20.0
1,462
RX4186
Outcrop
1.8
4.81
787
0.48
0.54
16.0
1,164
RX4212
Float
1.38
891
0.19
0.53
13.8
1,011
RX4200
Subcrop
1.4
0.59
815
0.30
0.09
11.9
868
RX4204
Float
1.81
627
0.03
0.02
10.4
760
RX4213
Float
0.97
324
0.05
0.07
5.5
398
RX4192
Outcrop
1.0
0.46
220
0.02
0.17
3.5
259
RX4181
Outcrop
1.6
1.04
170
0.04
0.13
3.4
251
RX4201
Outcrop
1.7
2.61
23
0.03
0.01
2.9
215
RX4182
Outcrop
0.8
2.06
35
0.14
0.01
2.6
189
RX4197
Subcrop
1.0
0.25
110
0.01
0.00
1.8
128
Table 2: Sample values for Mina Christo reported by government agency Ingeominas in 1975.
Sample widths were not reported.
Sample ID
Au (ppm)
Ag (ppm)
Pb (%)
Zn (%)
77622-R
3
48.0
77623-R
45
330.0
67541-R
0
2576.0
0.79
1.20
67542-R
0
525.6
0.72
0.19
67543-R
0
1221.6
0.36
0.45
Photo 1: Outcropping Espiritu Santo vein with channel sample of 0.6 metres of 2,319 grams
equivalent silver per tonne. (CNW Group/Outcrop Silver & Gold Corporation)
Photo 2: Outcropping high-angle veins at Espiritu Santo are from 0.6 to 2.8 metres and can be
traced for over 100 metres. Drill targets will be easily advanced due to good exposure and high
silver-gold values at surface. (CNW Group/Outcrop Silver & Gold Corporation)
Map 1. Espiritu Santo and Mina El Christo define an extension of the Santa Ana vein system 2.4
kilometres from San Antonio, Outcrop’s southernmost discovery to date. (CNW Group/Outcrop
Silver & Gold Corporation)
QA/QC
Rock 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 Santa Ana project comprises over 28,000 ha located in northern Tolima Department,
Colombia
,
190 km from
Bogota
. The project consists of five 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 Santa Ana project, located at the northern extent of just one of the regional vein systems
controlled by Outcrop, at least twelve principle vein zones are recognized that cumulatively provide
up to 14 km of cumulative strike length – La Ivana (La Porfia vein system),
Roberto Tovar
(
Royal
Mines
, including the Santa Ana, Delhuyar and
Roberto Tovar
vein systems),
San Juan
(Santa Ana
and Delhuyar vein systems), El Dorado (El Dorado and El Paraiso vein systems), Morales, Pollera,
Guanabanera,
San Antonio
(Santa Ana vein system), Palomos,
Murillo
, Culebra and Megapozo (El
Paraiso vein system). Each zone commonly contains multiple parallel veins. The veins can show both
high-grade silver and high-grade gold mineralization and may be both low and high angle depending
on local controls. Drilling indicates that mineralization extends from surface or near surface to depths
of at least 350 metres locally.
About Outcrop
Outcrop is fully financed and rapidly advancing exploration on five silver and gold exploration projects
with world-class discovery potential in Colombia. Outcrop is currently drilling 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
Mars Investor Relations
+1 775 340 0450
+1 647 557 6651
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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%SEDAR: 00005232E
For further information:
Joseph P Hebert, Chief Executive Officer, +1 775 340 0450,
[email protected], www.outcropsilverandgold.com; Mars Investor Relations,
+1 647 557 6651, [email protected]
CO: Outcrop Silver & Gold Corporation
CNW 08:00e 20-JUL-21