Santa Ana Vein System Extended 1,000 Metres to the North With Vein Assays up to 3,086 Grams Silver Equivalent per Tonne and Exploration Update Provided
Santa Ana Vein System Extended 1,000 Metres
to the North With Vein Assays up to 3,086
Grams Silver Equivalent per Tonne and
Exploration Update Provided
VANCOUVER, BC
,
Sept. 7, 2021
/CNW/ -
Outcrop Silver & Gold Corporation
(TSXV: OCG)
(OTCQX: OCGSF) (DE: MRG1) ("
Outcrop
") is pleased to announce results from surface sampling
and mapping that extends seven veins up to 1,000 metres to the north of the northernmost El
Dorado discovery.
Additionally, recent prospecting generated the Maras target, where a vein filled shear zone a metre
wide was developed by historic workings and contains a large field of high-grade vein float that
extends for a distance of over 200 metres. Espiritu Santo and Maras are inferred to occur on
separate converging north northeast and northeast vein zones 1,100 metres south of the
San
Antonio
discovery. Exploration continues to successfully grow the scale of the Santa Ana project.
Highlights
Santa Ana vein system extended for 1,000 metres to the north of El Dorado shoot and
1,100 metres to the south of
San Antonio
shoot for a 35% increase in area of well-
defined veins.
With new extensions, the surface footprint of mapped veins is 2 kilometres wide by 6
kilometres long.
Seven veins extended to north include the El Dorado vein with surface assays up to
3,086 grams silver equivalent per tonne.
New Maras target west of the Espiritu Santo target (both 1,100 metres south of the
San
Antonio
discovery) shows high values to 2,087 grams silver equivalent per tonne within
an area of vein float and sub-crop over 200 metres long.
The entire project has over 60 kilometres of vein projections to explore. Drilling has
been conducted on less than 10 percent of the project.
"The continuous generation of quality, high-grade targets and extension of the vein system to the
north of current drilling, demonstrates the large-scale potential of Santa Ana," comments
Joseph
Hebert
, Chief Executive Officer. "Although mineralization occurs in multiple large shoots, their
occurrence is becoming predictable along interconnected structures."
North Extension of Santa Ana Vein System
Mapping of historic workings and gridded soil sampling show a continuation to the north of seven
veins and subparallel vein sets. These include from west to east, two of three splays of El Dorado,
La Porfia (that hosts La Ivana), the Miraflores and the main Santa Ana vein group. These newly
discovered vein segments extend up to 1,000 metres from the northernmost El Dorado discovery.
Related prospecting shows numerous vein and float samples over 500 g Ag/t up to 3,086 g Ag/t.
The veins are all open to the north.
Map 1: Up to 1,000 metre extension of Santa Ana vein system from the northernmost discovered El
Dorado. Inset shows good correlation of statistically composited soil assays with vein traces and
historic workings. Insert A shows highlights the up to 1,000 metre northern extension of the El
Dorado and La Porfia (La Ivana) and their correlation with workings and soil anomalies. (CNW
Group/Outcrop Silver & Gold Corporation)
Table 1. Significant assays from vein and vein float sampling in northern extension of Santa Ana
vein system.
Sample Type
Au ppm
Ag ppm
Pb %
Zn %
AuEq ppm
AgEq ppm
Outcrop
9.12
668
0.09
0.01
18.3
1,337
Float
1.46
567
0.05
0.01
9.2
676
Outcrop
2.53
502
0.31
0.02
9.5
695
Outcrop
1.57
380
0.32
0.03
6.9
503
SubCrop
0.66
257
0.14
0.01
4.2
309
Outcrop
5.04
253
0.10
0.01
8.5
624
Outcrop
1.44
175
0.15
0.03
3.9
284
Outcrop
1.18
168
0.09
0.00
3.5
256
Float
40.20
138
0.44
0.0
42.2
3,086
Outcrop
1.32
118
0.02
0.01
3.0
216
Outcrop
1.50
72
0.07
0.00
2.5
183
SubCrop
4.45
44
0.08
0.03
5.1
371
Outcrop
3.01
27
0.07
0.01
3.4
249
Outcrop
6.76
13
0.02
0.00
6.9
507
Float
8.34
4
0.04
0.01
8.4
615
New Maras Target
The new Maras target is 300 metres west of Espiritu Santo and 1,100 metres south of the
San
Antonio
discovery. Maras and Espiritu Santo is inferred to occur on two converging vein structures
and one or both veins continue to
Mina Cristo
another kilometre to the south. Maras shows a vein
filled shear zone and a large field of high-grade vein float that extends for over 200 metres. Values
at Maras show a high of 2,067 grams equivalent silver per tonne in vein float.
Map 2: Maras target 200 metres west of Espiritu Santo with high values in vein float extending over
a distance of over 200 metres. Two converging veins are inferred by Maras and Espiritu Santo
workings and anomalies. (CNW Group/Outcrop Silver & Gold Corporation)
Table 2. Vein float sampling in the Maras target.
Sample Type
Au ppm
Ag ppm
Pb %
Zn %
AuEq ppm
AgEq ppm
Float
1.00
324.2
0.05
0.06
5.5
398
Float
2.59
316.9
0.00
0.01
6.9
507
Float
0.43
519.4
0.07
0.00
7.6
553
Float
4.22
161.6
0.02
0.02
6.5
471
Float
1.05
250.8
0.05
0.02
4.5
329
Float
1.91
158.7
0.04
0.03
4.1
300
Float
10.88
63.8
0.04
0.01
11.8
860
Float
0.87
501.4
0.08
0.00
7.8
567
Float
1.71
118.3
0.00
0.00
3.3
243
Float
6.38
227.2
0.03
0.03
9.5
695
Float
3.75
251.3
0.01
0.02
7.2
526
Float
19.56
651.6
0.10
0.14
28.6
2,087
Float
3.18
149.2
0.03
0.02
5.3
387
Float
6.53
399.7
0.12
0.12
12.1
883
Float
1.77
1035.4
0.92
0.91
16.6
1,212
Float
1.00
261.4
0.11
0.30
4.7
340
Float
1.00
257.1
0.08
0.03
4.6
338
Float
1.57
590.8
0.19
0.33
9.8
719
Float
2.29
1517.1
0.53
0.37
23.4
1,707
Float
0.77
505.1
0.20
0.15
7.8
570
Float
0.54
203.4
0.12
0.20
3.5
252
Float
6.74
1640.2
0.64
0.68
29.7
2,167
Float
1.64
526.6
0.10
0.28
9.0
657
Float
8.88
130.8
0.03
0.03
10.7
781
Exploration Update
Outcrop has completed 25,000 metres in 151 holes on the Santa Ana project. Six large high-grade
shoots have been discovered and numerous high-quality targets generated. Currently, 12,000
metres of drilling is underway as part of Phase 3 and is expected to continue into 2022. The
objective of current drilling is to discover six additional high-grade shoots on the property and to
further delineate the six previously discovered shoots along strike and depth. The weighted average
grade from 95 drill holes with significant intercepts is 1,508 g eq Ag/t.
The El Dorado, La Ivana, Megapozo,
San Juan
,
Roberto Tovar
and
San Antonio
shoots provide a
combined potential resource area of approximately 1,500 metres long by 300 metres depth. Deeper
drilling suggests that the
San Juan
,
Roberto Tovar
, and
San Antonio
shoots may merge into one
continuous zone of mineralization over 1,200 metres long. The spacing between discoveries
suggests a periodicity of 400 to 500 metres between high-grade shoots along veins and faults.
Exploration work will continue to focus on the regional potential at Santa Ana, as well as the core
project area where drilling has occurred. Current drilling shows approximately 17 cumulative
kilometres of veins which occur within an area of 30 kilometres by 12 kilometres. Drilling has only
been conducted in an area that represents less than 10 percent of the project. Compilations of
workings and sampling by Ingeominas (former Colombian Geological Survey) show over 60
kilometres of vein projections to explore.
Map 3: Six shoots discovered to date and seven newly mapped and sampled veins are shown
extending up to 1,000 metres north from El Dorado and La Ivana shoots. The Maras and Espiritu
Santo targets and related veins extend from San Antonio shoot two kilometres south to the El
Christo Mine area. Veins in this area have a surface footprint of 6 kilometres by 2 kilometres. (CNW
Group/Outcrop Silver & Gold Corporation)
Map 4: Santa Ana and regional scale silver-gold belt is illustrated. Four mining areas occur on a vein
system extending directly south from the central Santa Ana area. The veins on the project occur
within an area of 30 kilometres by 12 kilometres containing more than 60 kilometres of vein
projections to explore. (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 hectares located in northern Tolima Department,
Colombia
, 190 kilometres 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 17 kilometres 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 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.
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:
ON BEHALF OF THE BOARD OF DIRECTORS: Joseph P Hebert, Chief
Executive Officer, +1 775 340 0450, [email protected],
www.outcropsilverandgold.com; Mars Investor Relations, +1 647 557 6640,
CO: Outcrop Silver & Gold Corporation
CNW 08:00e 07-SEP-21