Outcrop Silver & Gold Corp. [OCG-TSXV; OCGSF-OTCQX; MRG1-DE] reported encouraging assays from 11 drill holes with significant results from its delineation drill program at Los Naranjos vein on its 100%-owned Santa Ana high-grade silver project in Colombia. Thirty-one holes have been drilled in Los Naranjos to date. Eighteen returned high-grade assays and one hole has pending assays.
The results of 18n core holes show that Los Naranjos is one of the larger high-grade shoots on Santa Ana, with an average estimated true width of 0.75 metres and a weighted average grade of 926 g/t AgEq (silver equivalent). Los Naranjos is open to the north and south and at depth. Exploration will continue to both define limits to Los Naranjos shoot and to discover potential new shoots north within the extensions of the Los Naranjos Vein System.
Delineation and exploration drilling is ongoing at Santa Ana with three drill rigs.
Highlights: Naranjos from 18 holes has an average estimated true width of 0.75 metres with a weighted average grade of 926 g/t AgEq.
Recent drilling extended high-grade mineralization in Los Naranjos to 250 metres along strike and 300 metres in depth.
Hole DH312 returned 1.53 metres (true width) of 516 g/t AgEq. Hole DH279 returned 1.89 metres of (true width) 468 g/t AgEq.
Hole DH296 returned 0.65 metres of 3,312 g/t AgEq, for a grams x metre of 2,153 AgEq. Los Naranjos shoot remains open along strike and at depth.
“The recent good results at Naranjos confirm high-grade mineralization open at depth on both ends of, and central to, the current exploration focus on 18-km long vein zones,” commented Guillermo Hernandez, Vice President of Exploration. “DH312 suggests that Los Naranjos may widen with depth. Outcrop Silver is encouraged to continue drilling Los Naranjos to increase its resource potential at depth.”
“The production level maps for the Frias Mine, and now Outcrop Silver drill results from Las Maras and Los Naranjos all show plus 300 metre depths to mineralization, we will likely significantly expand the vertical extent of mineralization at Santa Ana,” comments Joseph Hebert, CEO.
Los Naranjos vein is located 300 metres east of El Dorado, and like the Santa Ana vein system strikes north-northeast and dips steeply to the west. Holes DH312 and DH279 intercepted quartz veins with an estimated true width of 1.53 metres and 1.89 metres respectively, showing strong mineralization of silver and associated sulphides. DH312’s intercept is more than 250 metres from surface at the absolute elevation of 630 metres, which is regionally considered below the top-of-ore and most favourable zone.
There is a 60% drilling success rate for Los Naranjosis due to recognizing the geometry and dip of the shoot. The drilling program at Los Naranjos continues with additional delineation holes targeting to expand the high-grade shoot at depth towards the north.
The Santa Ana project comprises 36,000 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.
Outcrop drilling indicates that 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 post-production in the Spanish colonial era at a recovered grade of 1.3 kg Ag/t. The Frias Mine is considered an analogue to each of the thirteen 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.