Outcrop Silver & Gold drills 426 g/t AgEq over 5.89 metres at Santa Ana, Colombia
Outcrop Silver & Gold Corp. [OCG-TSXV; OCGSF-OTCQX; MRG1-DE] provided results of four additional core holes designed to expand the high-grade in the Megapozo shoot on its 100%-owned Santa Ana high-grade silver project in Colombia.
Compositing together two close-spaced veins in drill hole DH316 provides a true thickness of 5.89 metres of 426 g/t AgEq (silver equivalent). The ability to composite locally close-spaced veins, while maintaining significant grade in multiple high-grade shoots, may significantly increase the overall average true thickness of mineralization at Santa Ana.
Highlights: New drill results extend Megapozo shoot toward the northwest. Drilling definition shows that the Megapozo shoot extends from the surface to 600 metres down dip where mineralization remains open.
Two close-spaced veins in drill hole DH316 can be composited together with intervening wall rock for 5.89 metres true thickness at 426 g/t AgEq.
Drill hole DH319 intercepted 2.72-metre true thickness of 445 g/t AgEq, including 0.57 metress true thickness of 1,149 g/t AgEq.
“We continue to be happy with our drill results in the Paraiso vein,” commented Guillermo Hernandez, vice-president of exploration. “Our offset core holes here continue to expand Megapozo, an important potential resource area in the core of our flagship project.”
“Megapozo provides another example of the occurrence of close-spaced veins that can be composited together while maintaining significant grades,” commented Joseph Hebert, CEO. “This ability to composite vein packages together may positively impact overall average true widths in the vein systems at Santa Ana.”
Fifty-three holes have been drilled to date in the Megapozo shoot: 21 returned high-grade assays and one with pending assays. The Megapozo shoot within the Paraiso vein has an average estimated true width of 0.71 metres with a weighted average grade of 1,311 g/t AgEq.
The 100%-owned Santa Ana project comprises 27,000 hectares located in the northern Tolima department, Colombia, 190 km from Bogota. The project consists of five or more regional-scale parallel vein systems across a trend 12 km wide and 30 km long. The Santa Ana project covers a majority of the Mariquita district, where mining records date to at least 1585.
The Mariquita district is the highest-grade primary silver district in Colombia, with historic silver grades reported to be among the highest in Latin America from dozens of mines.
At the core Royal Santa Ana project, located at the northern extent of just one of the regional vein systems controlled by Outcrop Silver, 13 high-grade shoots have been discovered to date — La Ivana hangingwall and footwall (La Porfia vein system); San Antonio, Roberto Tovar, San Juan (Royal Santa Ana vein systems); Las Maras (Las Penas vein system); El Dorado, La Abeja (El Dorado vein systems); Megapozo, Paraiso (El Paraiso vein system); Espiritu Santo (Aguilar vein system); and La Isabela and Los Naranjos. Each zone commonly contains multiple parallel veins. The veins can show both high-grade silver and high-grade gold mineralization, and low-angle veins appear to connect to more common high-angle veins.
Outcrop Silver drilling indicates mineralization extends from surface or near surface to depths of at least 370 metres. Cumulatively, over 60 km of mapped and inferred vein zones occur on the Santa Ana project. The Frias mine on the south-central part of the project, 16 km south of the Royal Santa Ana Mines, produced 7.8 million ounces of silver postproduction in the Spanish colonial era at a recovered grade of 1.3 kilograms/tonne silver. The Frias mine is considered an analogue to each of the 13 shoots discovered to date by Outcrop Silver. Numerous priority drill targets have been discovered along this 16 km trend with outcropping veins up to 4.7 metres wide and surface values up to 9,740 g/t silver.