Outcrop Silver & Gold Corporation (TSXV:OCG, OTCQX:OCGSF, DE:MRG1) (“Outcrop”) is pleased to announce the results of nine core holes designed to test the continuity at depth of the Las Maras shoot on its 100% owned Santa Ana high-grade silver project in Colombia. Twenty-three holes have been drilled in Las Maras to date. Thirteen returned high-grade assays; two holes have assays that are pending.
Las Peñas vein in Las Maras shoot has an average estimated true width of 1.6 metres with a weighted average grade of 1,161 grams equivalent silver per tonne. Significantly, recent drilling extends Las Maras shoot to 370 metres depth, the deepest high-grade mineralization drilled to date on Santa Ana project. This compares to an average drill depth of only 170 metres on twelve other ore shoots. Potential resource areas may be more than doubled by relatively low-risk deeper drilling offsetting known shallower high-grade mineralization. Importantly, the limit to high-grade mineralization at depth within the Santa Ana vein systems is open.
Highlights
Recent drilling at Las Maras extends high-grade mineralization to 370 metres in depth (Figure 3), the deepest mineralization drilled to date on the property.
Twelve other ore shoots are only drilled to an average of 170 metres depth, indicating that these potential resources could be more than doubled if they also extend to 370 metres or more.
DH294 intersected 2.14 metres true width of 2,032 grams equivalent silver per tonne.
DH292 intersected 4.40 metres true width of 563 grams equivalent silver per tonne, including 0.40 metres of 5,109 grams equivalent silver per tonne and 0.37 metres of 846 grams equivalent silver per tonne.
DH300 intersected 3.82 metres true width of 537 grams equivalent silver per tonne.
Strong silver sulfide in core from additional drill holes with assays pending from Las Maras (Figures 2 and 3) suggests mineralization may continue at depth below 370 metres.
“We are thrilled with our most recent drill results at Las Maras with very robust vein interceptions extending high grade,” comments Guillermo Hernandez, Vice President of Exploration. “The deeper Las Maras delineation program shows encouraging visual results of abundant silver sulfide in core pending assays, which suggests high-grade mineralization will continue at depth.”
“Las Maras results are encouraging in the context of our year-end compliant resource,” comments Joseph Hebert, Chief Executive Officer. “With an average vein true thickness of 1.6 metres that compares to the possible use of engineered “long hole stopes” of 1.5 metres in the resource report, external dilution of the Las Maras veins that have a weighted average grade of 1,162 grams silver equivalent per tonne, may substantially be controlled. The depth of mineralization drilled in Las Maras indicates potential to expand all shoots in the resource area up to 117 percent by volume with just deeper drilling, which will be completed early in 2023.”
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