Outcrop Silver & Gold Corp. [OCG-TSXV; OCGSF-OTCQX; MRG1-DE] has released the results of two additional core holes in the Las Maras shoot on its 100%-owned, high-grade Santa Ana silver project in Colombia. The company has also provided an update on its pending maiden resource estimate.
Highlights: DH308 intercepted 0.9 metres (true thickness) of 767 g/t silver equivalent (AgEq). DH306 and DH308 extend Las Maras high-grade mineralization at depth and to the south. Definitive flotation tests in progress by SGS will provide higher-confidence diagnostic flotation recovery tests and allow Micon International to use higher metal recoveries in Santa Ana’s maiden resource report. Initial metallurgical testing showed recoveries of 94% of contained silver and 96% of contained gold in a concentrate containing 6,540 g/t silver and 83 g/t gold. A third drill rig has been added at Santa Ana.
“The resource report will be delayed until the first quarter in order to capture the benefit of optimized higher recoveries,” commented Joseph Hebert, CEO. “Further, a third drill rig was added at Santa Ana in December in order to complete planned deeper delineation drilling of some of the high-grade shoots, which can now be included in the resource estimation. Las Maras high-grade mineralization extends to over 350 metres and is open at depth. Other shoots to be included in the resource report are only drilled to an average depth of 170 metres.”
Twenty-seven drill holes have been completed in Las Maras to date. Seventeen have returned high-grade assays, including 2.1 metres of 2,034 g/t silver equivalent and 5.9 metres of 1,697 g/t silver equivalent. Recent drilling targeted step-down intercepts from hole DH290. Las Maras remains open at depth.
At Las Maras, drill hole SAMR22DH306 returned 0.28 metres of 2.65 g/t gold, 523 g/t silver, 0.59% lead and 0.81% zinc, for 759 g/t AgEq. SAMR22DH306 returned 0.71 metres of 0.78 g/t gold, 194 g/t silver, 0.35% lead, 0.20% zinc and 263 g/t AgEq, including 0.29 metres of 1.70 g/t gold, 453 g/t sioolver,0.84% lead and 0.45% zinc, for 606 g/t AgEq.
SAMRR22,DH308 returned 0.87 g/t gold, 537 g/t silver, 0.47% lead and 0.62% zinc, for 767 g/t AgEq, including 0.38 metres of 4.11 g/t gold, 801 g/t silver, 0.60% lead and 0.97% zinc, for 1.148 g/t AgEq.
Outcrop has continued a sequence of more definitive processing flotation tests that will allow Micon International, the resource estimate report author, to use higher metal recoveries than would be possible with the testing completed to date.
Outcrop Silver released excellent preliminary metallurgical test results on November 3, 2022, which show that gold is 90% in native free state, with 8% native silver and electrum comprising 8% by mass, and 88% of silver occurs in a single mineral argentite. These metal distributions present a very simple ore mineralogy, allowing a simple processing design. The results show average recoveries of 94% for silver and 96% for gold in concentrate, grading 6,540 gr/t silver and 82.94 g/t gold.
In order to include the results of this second phase of metallurgical tests, the resource estimate has been delayed until the first quarter of 2023. A third drill rig was added in December to complete planned deeper delineation drilling of some of the high-grade shoots that can now be included in the resource estimation.
Outcrop Silver & Gold is rapidly advancing the high-grade Santa Ana silver discovery with continuing expansion drilling and an initial resource to be released in the coming months. Outcrop is also progressing exploration on four gold projects with world-class discovery potential in Colombia.