Outcrop Silver & Gold discovers multi-vein system at Santa Ana, Colombia

Outcrop Silver & Gold Corp. [TSXV-OCG; OTCQX-OCGS; DE-MRG] reported additional high-grade silver intercepts at the Aguilar vein discovery located five km south of the existing resource at the Santa Ana Project, Colombia.

These recent drill holes continue to confirm high-grade silver along the main Aguilar vein and the newly discovered parallel and non-outcropping veins. Complementing these efforts, the company has ramped up its exploration activities with two active drill rigs and has expanded its regional target generation programs. These strategic initiatives are integral to Outcrop’s 2024 exploration strategy, aimed at significantly increasing the existing resource and defining new growth pathways along the 30-km vein corridor at the Santa Ana project. Outcrop Silver continues drilling with two active rigs onsite, one in Aguilar and the second testing new targets such as Guadual and Jimenez.

Highlights: DH373 intercepted 1.18 metres of 1,035 g/t silver equivalent on the Aguilar vein. DH385 intercepted 0.71 metres of 1,081 g/t of silver equivalent on the Aguilar HW vein, confirming the extension of Aguilar HW at depth and towards the north.

The Aguilar vein, to date, has been confirmed for 285 meters along strike from the 1.8 km long corridor, showing multiple veins and remaining open in all directions.

“In 2024, Outcrop Silver is not just drilling; we are methodically executing a vision that unveils the expansive potential of the Santa Ana project. Our recent drilling at the Aguilar vein system underscores this strategy,” commented Ian Harris, President and CEO. “The consistency of high-grade silver findings over an extended strike length, on multiple veins confirm Aguilar’s role as a cornerstone of our ambitious exploration plans. As we continue to step out from the known resources and test new targets, each successful drill hole at Aguilar is a step towards dramatically scaling our resource base, cementing our commitment to deliver substantial value through meticulous, scientific exploration.”

“The Aguilar vein system continues to show its great potential in recent drilling,” explained Guillermo Hernandez, Vice President of Exploration. “It is fascinating to see additional veins coming out in the core with high grade along the step outs we are conducting. We knew the prospectiveness of this vein system; however, every new drill hole shows additional unexpected veins that will contribute to the success of Santa Project.”

The current drill campaign on the Aguilar vein continues testing for high grades along strike and at depth. Outcrop’s surface exploration program traced the Aguilar vein system along more than 550 metres; as part of the Aguilar-Guadual vein zone, which extends for 1.8 km. Drilling at the Aguilar vein has confirmed the vein system extends for at least 285 metres along strike and 225 metres down dip, with all structures remaining open. This includes, parallel and minor veins such as Aguilar North, Aguilar HW, and a newly discovered Aguilar FW vein. Drilling at Aguilar has two holes with assays pending: DH386 and DH388. Refer to original press release for complete assays.

The Aguilar vein system is 200 meters wide, with at least four formal and continuous high-grade silver quartz veins confirmed through drilling (Figure 2 and Figure 3). These structurally complex vein systems represent excellent potential along the 1.8 km Aguilar-Guadual corridor locally.

Metallurgical recoveries based on Outcrop Silver’s Metallurgical test work are 97% for gold and 93% for silver.

The 100%-owned Santa Ana project covers 27,000 hectares within the Mariquita District, known as the largest and highest-grade primary silver district in Colombia with mining records dating back to 1585.

Santa Ana’s maiden resource estimate, as detailed in the NI 43-101 Technical Report, indicates an estimated indicated resource of 24.2 million ounces silver equivalent at a grade of 614 g/t and an inferred resource of 13.5 million ounces grading 435 g/t. The identified resources span seven major vein systems that include multiple parallel veins and ore shoots: Santa Ana (San Antonio, Roberto Tovar, San Juan shoots); La Porfia (La Ivana); El Dorado (El Dorado, La Abeja shoots); Paraiso (Megapozo); Las Maras; Los Naranjos, and La Isabela.

The 2024 drilling campaign aims to extend known mineralization and test new high-potential areas along the project’s extensive 30 km of strike. These efforts underscore the scalability of Santa Ana and its potential for substantial resource growth, positioning the project to develop into a high-grade, economically viable, and environmentally responsible silver mine.

Outcrop Silver is a leading explorer and developer focused on advancing its flagship Santa Ana high-grade silver project in Colombia.