Outcrop Silver & Gold Corp. [OCG-TSXV; OCGSF-OTCQX; MRG1-FSE] reported the results from six core holes designed to test the Naranjos structure on its 100%-owned, high-grade Santa Ana silver project in Colombia.
The Naranjos vein is a parallel vein between the Santa Ana vein system 350 metres to the east, and the Eldorado vein system 350 metres to the west. Naranjos commonly hosts native silver and silver-rich electrum. Thirteen drill holes have been completed to date. Six returned high-grade assays and four holes have assays pending. Naranjo is open in all directions.
Thirteen shoots are now recognized on the property. All 13 shoots are open at depth and their cumulative strike provides over 2.8 km of potential resource area to include in the maiden compliant resource to be reported before the end of 2022.
With Naranjos, 13 shoots have drill definition on Santa Ana. Numerous targets with high-grade silver equivalent assays over kilometres of strike suggest additional shoots will be defined by drilling in the near term.
Hole DH244 in Naranjos returned 1.54 metres at 1,067 g/t AgEq (silver equivalent). DH241 in Naranjos returned 0.61 metres at 1,562 g/t AgEq, including 0.35 metres of 2,607 g/t AgEq.
Naranjos is a significant step-out to the north and indicates high-grade mineralization is likely to continue in that direction on two or more vein zones. Naranjo extends for at least 150 metres along strike and 150 metres to depth and is open in all directions. The cumulative strike of the thirteen currently drill-defined shoots provides over 2.8 km to the potential resource area.
“Once more, the Santa Ana project shows its true potential as a premium silver asset in Colombia,” commented Guillermo Hernandez, Vice President of Exploration. “As we continue with the definition of new high-grade shoots that show consistent high-grade intercepts, we are very excited to soon publish our first compliant resource estimation for Santa Ana.
“The success rate on targets is extremely encouraging at Santa Ana,” said Joe Hebert, CEO. “Target generation continues to keep pace ahead of drilling with three core rigs. The team continues to advance the robust four-kilometre-long Aguilar vein system, a south extension of Las Maras vein system with its extremely high grades in drilling, and notably, the excellent potential at Frias 10 kilometres south from Aguilar. The Frias mine, which is 100%-owned by Outcrop, has reported production of 7.8 million ounces of silver at 1.3-kilogram silver/tonne recovered grade. With high-grade outcropping mineralization a characteristic of all targets, success is expected in all these areas.”
The Naranjos target is 350 metres west of the original Santa Ana vein system. Surface prospecting before drilling of the Naranjos vein provided samples with values up to 2,224 g/t AgEq, providing an excellent expression of Naranjo’s potential before drilling.
The Naranjos vein is characterized as a quartz vein and associated shear zone that dips sub-vertically to the west. The quartz vein shows textures indicating brittle-ductile deformation, indicating a mesothermal stage of mineralization. Silver mineralization includes pyrargyrite (silver-sulphosalt) and native silver and electrum. Locally massive pyrite, galena and sphalerite combined can make up to 20% of the vein.
Definition drilling continues at Naranjos to the southwest and northeast and at depth. Thirteen drill holes have been completed to date. Six holes returned high-grade assays, and four holes have assays pending. Naranjos is open in all directions with significant potential to expand its footprint of mineralization.
Outcrop is currently drilling and expanding its high-grade silver-gold discovery in the Santa Ana district, Colombia.