Outcrop Gold Corp. [OCG-TSXV; MRDDF-OTC; MRG-FSE, Berlin] reported results of five holes from continuing delineation drilling in La Ivana and an update on exploration drilling on its 100%-owned, 28,000-hectare Santa Ana project in north Tolima, 190 km from Bogota Colombia.
Highlights included 0.7 metre of 117.5 g/t gold equivalent or 8,584 g/t silver equivalent per tonne and 1.0 metre of 37.4 g/t gold equivalent or 2,731 g/t silver equivalent.
La Ivana high-grade mineralization remains open along strike and depth. Greenfield exploration progresses with less than 25% of the mapped or inferred vein traces tested.
“Three of five recent delineation holes at La Ivana returned values greater than two kilograms silver equivalent per tonne, including a remarkable value of 8.6-kilogram silver equivalent per tonne,”” commented Joseph Hebert, CEO. “These values are of significance considering that the average grade of the world’s 12 largest silver mines has fallen to 300 grams silver equivalent per tonne.”
Preliminary drilling in greenfield targets Palomo, Prias, Culebra and El Gordo have defined vein structures and local epithermal veins with significantly anomalous mineralization.
Where veins and fault-veins are well defined, especially if those veins have already produced shoots, Outcrop will begin drilling fans on panels approximately 135 metres apart.
From results in the central area of known precolonial mining, the company expects a shoot periodicity of one to two large, high-grade shoots within every 800 metres of vein. It is expected that systematic drill panels along vein traces will increase the pace of new shoot discovery.
At the core Santa Ana project, located at the northern extent of just one of the regional vein systems controlled by Outcrop, at least 12 principal 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, Palomos, Murillo, Culebra and Megapozo (El Paraiso vein system). Drilling indicates that mineralization extends from the surface or near surface to depths of at least 350 metres locally.
Outcrop is a hybrid prospect generator, acquiring silver and gold exploration projects with world-class discovery potential. Outcrop performs its own grassroots exploration and then employs a joint venture business model. Outcrop has five primary projects in Colombia.