Latest news with #SantaAnaProject
Cision Canada
4 days ago
- Business
- Cision Canada
OUTCROP SILVER REPORTS EXCEPTIONAL SENSOR-BASED ORE SORTING RESULTS FROM LA PORFIA VEIN AT SANTA ANA
VANCOUVER, BC, June 17, 2025 /CNW/ - Outcrop Silver & Gold Corporation (TSXV: OCG) (OTCQX: OCGSF) (DE: MRG) ("Outcrop Silver") is pleased to report outstanding results from a sensor-based ore sorting test conducted on mineralized material from the La Porfia vein, part of the high-grade Santa Ana primary silver project in Colombia. The program, carried out by Steinert Latinoamericana in Brazil, evaluated 25–75 mm and 12–25 mm size fractions using a Steinert KSS CLI XT sorter—which combines X-ray Transmission (XRT), 3D laser profiling, and RGB optical sensors. The results show that 17 % of the coarse feed was rejected as waste, while the sorted product delivered a 20 % lift in AgEq grade and retained up to 99.2 % of the silver and 99.7 % of the gold (Table 1). This demonstrates Santa Ana's potential for early, low-impact pre-concentration that could meaningfully reduce mill size, operating costs, and environmental footprint. "These exceptional sorting results—achieving a 20 % grade lift, 17 % waste rejection and up to 99.2 % silver and 99.7 % gold recoveries despite processing lower-grade La Porfía material—highlight Santa Ana's amenability to modern, low-impact processing technologies," commented Ian Harris, President & CEO. "This test underlines our opportunity to shrink the project footprint, lower costs and bolster environmental performance. None of this is possible without the dedication of our on-site teams and the strong partnership with local communities—together carrying a 400-year silver-mining legacy forward and delivering superior value for our shareholders and the next generation." Table 1. Summary results from Sensor-based ore sorting tests applied to mineralized material from the La Porfia vein (Coarse fraction from 25 to 75 mm). Sensor-based ore sorting was applied to mineralized material from the La Porfia vein, part of the high-grade silver-gold epithermal system at the Santa Ana Project, to assess its suitability as a pre-concentration method. The objective was to evaluate the potential for early waste rejection and feed grade enhancement using advanced particle discrimination technologies. Approximately 390 kg of material was prepared and delivered to Steinert Latinoamericana in Belo Horizonte, Brazil, consisting of 300 kg of mineralized rock and 90 kilograms of barren waste rock, collected from underground old workings in La Porfia. A sample of approximately 250 kilograms was then separated from this material. Then, this 250 kg sample was prepared into two different size fractions, resulting in approximately 200 kg of material ranging from 25 to 75 mm in size and around 50 kilograms of material ranging from 12 to 25 mm in size. The sorting was performed using a STEINERT KSS CLI XT unit, which combined X-ray Transmission (XRT) to detect atomic density (ideal for distinguishing silver-rich sulfide mineralization), 3D Laser Profiling for shape recognition and positioning. Additionally, RGB and Inductive sensors were also tested but played secondary roles. 1 Silver Equivalent Metal prices used for equivalent calculations were US$1,800/oz for gold, and US$25/oz for silver. Metallurgical recoveries based on Outcrop Silver's metallurgical test work are 97% for gold and 93% for silver (see news release dated August 23, 2023). The equivalency formula is as follows: Assays The resulting sample fractions were sent for assaying to SGS-Geosol in Vespasiano, Minas Gerais, Brazil. The laboratory analytical codes used for Ag assays were GE_ICP40Q and ICP40B_S with multi-acid digestion in both cases. The Au assays were determined by 50 grams fire-assaying with code FAA505. Qualified Person Edwin Naranjo Sierra is the designated Qualified Person within the meaning of the National Instrument 43-101 and has reviewed and approved the technical information in this news release. Mr. Naranjo holds a MSc. in Earth Sciences, and is a Fellow of the Australasian Institute of Mining and Metallurgy (FAusIMM). Mr. Naranjo Sierra is a consultant to the Company and is therefore independent for the purposes of NI 43-101. About Santa Ana The 100% owned Santa Ana project covers 27,000 hectares within the Mariquita District, through titles and applications, 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, detailed in the NI 43-101 Technical Report titled "Santa Ana Property Mineral Resource Estimate," dated June 8, 2023, prepared by AMC Mining Consultants, indicates an estimated indicated resource of 1,226 thousand tonnes containing 24.2 million ounces silver equivalent at a grade of 614 grams per tonne and an inferred resource of 966 thousand tonnes containing 13.5 million ounces at a grade of 435 grams per tonne. 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 drilling campaign aims to extend known mineralization and test new high-potential areas along the permitted section of the project's extensive 30 kilometres of mineralized trend. This year's exploration strategy aims to demonstrate a clear pathway to substantially expand the resource. 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. About Outcrop Silver Outcrop Silver is a leading explorer and developer focused on advancing its flagship Santa Ana high-grade silver project in Colombia. Leveraging a disciplined and seasoned team of professionals with decades of experience in the region. Outcrop Silver is dedicated to expanding current mineral resources through strategic exploration initiatives. At the core of our operations is a commitment to responsible mining practices and community engagement, underscoring our approach to sustainable development. Our expertise in navigating complex geological and market conditions enables us to consistently identify and capitalize on opportunities to enhance shareholder value. With a deep understanding of the Colombian mining landscape and a track record of successful exploration, Outcrop Silver is poised to transform the Santa Ana project into a significant silver producer, contributing positively to the local economy and setting new standards in the mining industry. ON BEHALF OF THE BOARD OF DIRECTORS Neither the TSX Venture Exchange nor its Regulation Services Provider (as such term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. Certain information contained herein constitutes "forward-looking information" under Canadian securities legislation. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "potential," "we believe," or variations of such words and phrases or statements that certain actions, events or results "will" occur. Forward-looking statements are based on the opinions and estimates of management as of the date such statements are made and they are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Outcrop Silver to be materially different from those expressed or implied by such forward-looking statements or forward-looking information, including: the receipt of all necessary regulatory approvals, capital expenditures and other costs, financing and additional capital requirements, completion of due diligence, general economic, market and business conditions, new legislation, uncertainties resulting from potential delays or changes in plans, political uncertainties, and the state of the securities markets generally. Although management of Outcrop Silver have attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. Outcrop Silver will not update any forward-looking statements or forward-looking information that are incorporated by reference.
Cision Canada
14-05-2025
- Business
- Cision Canada
OUTCROP SILVER EXPANDS LOS MANGOS VEIN SYSTEM WITH NEW HIGH-GRADE INTERCEPTS INCLUDING 3.86 METRES AT 621 g/t SILVER EQUIVALENT
VANCOUVER, BC, May 14, 2025 /CNW/ - Outcrop Silver & Gold Corporation (TSXV: OCG) (OTCQX: OCGSF) (DE: MRG) ("Outcrop Silver") is pleased to announce new drill results from the Los Mangos vein at its 100%-owned Santa Ana high-grade silver project in Colombia. The latest intercepts further confirm the presence of wide, high-grade zones within the system and reinforce the continuity of mineralization along strike and at depth (Figure 1 and Figure 2). These results follow the company's previously announced intercept of 18.30 metres at 992 g/t AgEq in hole DH459 (News Release dated May 6, 2025), and support the emerging significance of Los Mangos as one of the project's most robust vein systems discovered to date. Highlights Hole DH464 returned 3.86 metres at 621 g/t AgEq (433 g/t Ag and 2.51 g/t Au) (Table 1, Figure 3) Recently announced high-grade drill results along strike at Los Mangos: DH459: 18.30 metres at 992 g/t AgEq (News Release dated May 6, 2025) DH457: 8.20 metres at 669 g/t AgEq (News Release dated April 22, 2025) DH451: 7.18 metres at 358 g/t AgEq (News Release dated April 1, 2025) DH444: 1.92 metres at 586 g/t AgEq (News Release dated March 12, 2025) "Every new intercept at Los Mangos strengthens the case that the central portion of Santa Ana can add meaningful tonnes and grade in short order. These results validate our fully funded 24,000 metre drill program, which is laser focused on converting discoveries into ounces for the next resource update. We are executing exactly what we laid out to investors," stated Ian Harris, President & CEO. "This momentum is possible only through the hard work of our on site teams and the strong partnership we share with the people of Falan and Tolima—together carrying a 400 year silver legacy into the next generation." The Los Mangos vein system lies in the southwestern portion of the fully permitted 17 kilometer mineralized corridor of the Santa Ana Project and is located more than 8 kilometres south of the current resource area (News Release April 26, 2023). Drilling has confirmed to date, a strike length of over 350 metres and vertical continuity exceeding 250 metres, with mineralization hosted in quartz-sulfide breccias and veins within altered green schists and intrusive dikes (Figure 3 and Figure 4). Table 1. Drill hole assay results reported in this release. * The current knowledge of these structures does not allow for estimating the true width. "With each new hole, Los Mangos continues to prove itself as one of the most exciting discoveries within the Santa Ana project," commented Guillermo Hernandez, Vice President of Exploration. "These intercepts demonstrate not only the continuity of grade but also the persistence of thickness, which is critical for future resource expansions. Our targeting is becoming increasingly precise, and we remain confident that continued drilling will expand the high-grade footprint ahead of our upcoming resource update." Table 3. Surface chip and grab sample results in the Los Mangos vein target from the regional exploration program, including those previously reported and referred to in Figure 1 (see News Releases dated August 23, 2023, and March 12, 2025). By their nature, grab samples are selective, and the assay results may not necessarily represent true underlying mineralization. Coordinates are UTM system, zone 18N and WGS84 projection. Table 4. Collar and survey table for drill holes reported and referred to in this release. All coordinates are UTM system, Zone 18N, and WGS84 projection. 1 Silver Equivalent Metal prices used for equivalent calculations were US$1,800/oz for gold, and US$25/oz for silver. Metallurgical recoveries based on Outcrop Silver's metallurgical test work are 97% for gold and 93% for silver (see news release dated August 23, 2023). The equivalency formula is as follows: QA/QC Outcrop Silver applied its standard protocols for sampling and assay for exploration activities. Underground channel samples were taken perpendicular to the vein and sample length was broken by geology. Core diameter is a mix of HTW and NTW depending on the depth of the drill hole. Diamond drill core boxes were photographed, sawed, sampled and tagged. Samples were bagged, tagged and packaged for shipment by truck from Santa Ana's core logging facilities in Falan, Colombia to the Actlabs certified sample preparation facility in Medellin, Colombia. ActLabs is an accredited laboratory independent of the Company. HQ-NTW core is sawn with one-half shipped. Samples delivered to Actlabs were AA assayed on Au, Ag, Pb, and Zn at Medellin using 1A2Au, 1A3Au, Multi-elements AR (Ag Cu Pb Zn), and Code 8 methods. Then, samples were sent to Actlabs Mexico for ICP-multi-elemental analysis with code 1E3. In line with QA/QC best practices, blanks, duplicates, and certified reference materials are inserted at approximately three control samples every twenty samples into the sample stream, monitoring laboratory performance. A comparison of control samples and their standard deviations indicates acceptable accuracy of the assays and no detectible contamination. No material QA/QC issues have been identified with respect to sample collection, security and assaying. The samples are analyzed for gold and silver using a standard fire assay on a 30-gram sample with a gravimetric finish for over-limits. Multi-element geochemistry was determined by ICP-MS using either aqua regia or four acid digestions. Crush rejects, pulps, and the remaining core are stored in a secured facility at Santa Ana for future assay verification. Qualified Person Edwin Naranjo Sierra is the designated Qualified Person within the meaning of the National Instrument 43-101 and has reviewed and verified the technical information in this news release. Mr. Naranjo holds a MSc. in Earth Sciences, and is a Fellow of the Australasian Institute of Mining and Metallurgy (FAusIMM). Mr. Naranjo Sierra is a consultant to the company and is therefore independent for the purposes of NI 43-101. About Santa Ana The 100% owned Santa Ana project covers 27,000 hectares within the Mariquita District, through titles and applications, 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, detailed in the NI 43-101 Technical Report titled "Santa Ana Property Mineral Resource Estimate," dated June 8, 2023, prepared by AMC Mining Consultants, indicates an estimated indicated resource of 24.2 million ounces silver equivalent at a grade of 614 grams per tonne and an inferred resource of 13.5 million ounces at a grade of 435 grams per tonne. 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 drilling campaign aims to extend known mineralization and test new high-potential areas along the permitted section of the project's extensive 30 kilometres of mineralized trend. This year's exploration strategy aims to demonstrate a clear pathway to substantially expand the resource. 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. About Outcrop Silver Outcrop Silver is a leading explorer and developer focused on advancing its flagship Santa Ana high-grade silver project in Colombia. Leveraging a disciplined and seasoned team of professionals with decades of experience in the region. Outcrop Silver is dedicated to expanding current mineral resources through strategic exploration initiatives. At the core of our operations is a commitment to responsible mining practices and community engagement, underscoring our approach to sustainable development. Our expertise in navigating complex geological and market conditions enables us to consistently identify and capitalize on opportunities to enhance shareholder value. With a deep understanding of the Colombian mining landscape and a track record of successful exploration, Outcrop Silver is poised to transform the Santa Ana project into a significant silver producer, contributing positively to the local economy and setting new standards in the mining industry. ON BEHALF OF THE BOARD OF DIRECTORS Neither the TSX Venture Exchange nor its Regulation Services Provider (as such term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. Certain information contained herein constitutes "forward-looking information" under Canadian securities legislation. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "potential," "we believe," or variations of such words and phrases or statements that certain actions, events or results "will" occur. Forward-looking statements are based on the opinions and estimates of management as of the date such statements are made and they are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Outcrop Silver to be materially different from those expressed or implied by such forward-looking statements or forward-looking information, including: the receipt of all necessary regulatory approvals, capital expenditures and other costs, financing and additional capital requirements, completion of due diligence, general economic, market and business conditions, new legislation, uncertainties resulting from potential delays or changes in plans, political uncertainties, and the state of the securities markets generally. Although management of Outcrop Silver have attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. Outcrop Silver will not update any forward-looking statements or forward-looking information that are incorporated by reference.
Yahoo
14-05-2025
- Business
- Yahoo
OUTCROP SILVER EXPANDS LOS MANGOS VEIN SYSTEM WITH NEW HIGH-GRADE INTERCEPTS INCLUDING 3.86 METRES AT 621 g/t SILVER EQUIVALENT
VANCOUVER, BC, May 14, 2025 /CNW/ - Outcrop Silver & Gold Corporation (TSXV: OCG) (OTCQX: OCGSF) (DE: MRG) ("Outcrop Silver") is pleased to announce new drill results from the Los Mangos vein at its 100%-owned Santa Ana high-grade silver project in Colombia. The latest intercepts further confirm the presence of wide, high-grade zones within the system and reinforce the continuity of mineralization along strike and at depth (Figure 1 and Figure 2). These results follow the company's previously announced intercept of 18.30 metres at 992 g/t AgEq in hole DH459 (News Release dated May 6, 2025), and support the emerging significance of Los Mangos as one of the project's most robust vein systems discovered to date. Highlights Hole DH464 returned 3.86 metres at 621 g/t AgEq (433 g/t Ag and 2.51 g/t Au) (Table 1, Figure 3) Recently announced high-grade drill results along strike at Los Mangos: DH459: 18.30 metres at 992 g/t AgEq (News Release dated May 6, 2025) DH457: 8.20 metres at 669 g/t AgEq (News Release dated April 22, 2025) DH451: 7.18 metres at 358 g/t AgEq (News Release dated April 1, 2025) DH444: 1.92 metres at 586 g/t AgEq (News Release dated March 12, 2025) "Every new intercept at Los Mangos strengthens the case that the central portion of Santa Ana can add meaningful tonnes and grade in short order. These results validate our fully funded 24,000 metre drill program, which is laser focused on converting discoveries into ounces for the next resource update. We are executing exactly what we laid out to investors," stated Ian Harris, President & CEO. "This momentum is possible only through the hard work of our on site teams and the strong partnership we share with the people of Falan and Tolima—together carrying a 400 year silver legacy into the next generation." The Los Mangos vein system lies in the southwestern portion of the fully permitted 17 kilometer mineralized corridor of the Santa Ana Project and is located more than 8 kilometres south of the current resource area (News Release April 26, 2023). Drilling has confirmed to date, a strike length of over 350 metres and vertical continuity exceeding 250 metres, with mineralization hosted in quartz-sulfide breccias and veins within altered green schists and intrusive dikes (Figure 3 and Figure 4). Target Hole ID From(m) To(m) Interval(m) EstimatedTrue Width(m) Aug/t Agg/t AgEq1g/t Vein Los Mangos DH461 203.30 203.67 0.37 * 0.17 205 217 Vein DH461 223.48 228.75 5.27 3.13 0.17 195 208 Los Mangos Including 228.14 228.75 0.61 0.36 0.92 1,213 1,282 DH464 111.75 112.07 0.32 * 0.05 458 462 Mangos Fault DH464 224.99 228.85 3.86 2.41 2.51 433 621 Los Mangos Including 224.99 225.60 0.61 0.38 1.67 895 1,020 And 226.40 227.16 0.76 0.47 6.53 108 598 And 227.16 228.16 1.00 0.62 3.37 984 1,237 DH464 239.71 240.01 0.30 * 0.12 341 349 Vein Table 1. Drill hole assay results reported in this release. * The current knowledge of these structures does not allow for estimating the true width. "With each new hole, Los Mangos continues to prove itself as one of the most exciting discoveries within the Santa Ana project," commented Guillermo Hernandez, Vice President of Exploration. "These intercepts demonstrate not only the continuity of grade but also the persistence of thickness, which is critical for future resource expansions. Our targeting is becoming increasingly precise, and we remain confident that continued drilling will expand the high-grade footprint ahead of our upcoming resource update." Sample Easting(m) Northing(m) Elevation(m) SampleType Aug/t Agg/t AgEq1g/t Release Date 15491 501854.0 556550.0 866.08 Dump Grab 8.07 234 840 August 23, 2023 17351 501681.0 556466.0 1012.00 Chip 0.22 297 314 March 12, 2025 17528 501846.0 556532.2 875.00 Dump Grab 8.04 301 905 March 12, 2025 17531 501847.0 556533.2 875.00 Dump Grab 7.15 81 618 March 12, 2025 17532 501844.0 556530.2 875.00 Dump Grab 0.56 3,019 3,061 March 12, 2025 17687 501659.0 556484.0 1028.00 Chip 3.73 907 1,187 March 12, 2025 17688 501660.0 556474.0 1035.00 Chip 3.04 344 572 March 12, 2025 17765 501754.0 556392.0 987.00 Dump Grab 12.57 215 1,159 March 12, 2025 17766 501742.0 556411.0 974.00 Chip 6.22 122 589 March 12, 2025 Table 3. Surface chip and grab sample results in the Los Mangos vein target from the regional exploration program, including those previously reported and referred to in Figure 1 (see News Releases dated August 23, 2023, and March 12, 2025). By their nature, grab samples are selective, and the assay results may not necessarily represent true underlying mineralization. Coordinates are UTM system, zone 18N and WGS84 projection. Hole ID Hole Code Easting(m) Northing(m) Elevation(m) Depth(m) Azimuth(°) Dip(°) DH420 SALM24HD420 501916.349 556451.154 915.18 200.25 303 -45 DH423 SALM24DH423 501917.600 556451.345 915.19 164.71 333 -45 DH425 SALM24DH425 501915.818 556450.553 914.73 215.49 285 -55 DH428 SALM24DH428 501915.742 556450.146 915.19 227.99 273 -55 DH432 SALM24DH432 501881.348 556447.027 921.96 131.46 321 -45 DH434 SALM25DH434 501881.468 556446.758 922.44 151.66 310 -45 DH436 SALM25DH436 501797.491 556358.423 989.71 179.22 315 -51 DH438 SALM25DH438 501796.942 556358.077 989.68 210.61 298 -50 DH440 SALM25DH440 501796.528 556357.559 989.84 190.19 286 -45 DH442 SALM25DH442 501796.528 556357.559 989.84 201.47 335 -49 DH444 SALM25DH444 501796.901 556358.092 989.81 200.55 306 -58 DH447 SALM25DH447 501766.685 556378.891 998.44 120.09 325 -51 DH449 SALM25DH449 501797.565 556358.288 989.73 163.98 325 -58 DH451 SALM25DH451 501796.972 556357.896 989.75 250.24 302 -65 DH453 SALM25DH453 501796.830 556357.426 989.55 242.62 286 -59 DH454 SALM25DH454 501796.932 556357.896 989.59 286.20 305 -69 DH457 SALM25DH457 501797.401 556358.269 989.55 248.71 324 -65 DH459 SALM25DH459 501797.979 556358.194 989.86 229.39 346 -60 DH461 SALM25DH461 501797.955 556358.119 989.361 273.40 346 -66 DH464 SALM25DH464 501796.568 556357.185 989.749 250.24 286 -62 Table 4. Collar and survey table for drill holes reported and referred to in this release. All coordinates are UTM system, Zone 18N, and WGS84 projection. 1Silver Equivalent Metal prices used for equivalent calculations were US$1,800/oz for gold, and US$25/oz for silver. Metallurgical recoveries based on Outcrop Silver's metallurgical test work are 97% for gold and 93% for silver (see news release dated August 23, 2023). The equivalency formula is as follows: QA/QC Outcrop Silver applied its standard protocols for sampling and assay for exploration activities. Underground channel samples were taken perpendicular to the vein and sample length was broken by geology. Core diameter is a mix of HTW and NTW depending on the depth of the drill hole. Diamond drill core boxes were photographed, sawed, sampled and tagged. Samples were bagged, tagged and packaged for shipment by truck from Santa Ana's core logging facilities in Falan, Colombia to the Actlabs certified sample preparation facility in Medellin, Colombia. ActLabs is an accredited laboratory independent of the Company. HQ-NTW core is sawn with one-half shipped. Samples delivered to Actlabs were AA assayed on Au, Ag, Pb, and Zn at Medellin using 1A2Au, 1A3Au, Multi-elements AR (Ag Cu Pb Zn), and Code 8 methods. Then, samples were sent to Actlabs Mexico for ICP-multi-elemental analysis with code 1E3. In line with QA/QC best practices, blanks, duplicates, and certified reference materials are inserted at approximately three control samples every twenty samples into the sample stream, monitoring laboratory performance. A comparison of control samples and their standard deviations indicates acceptable accuracy of the assays and no detectible contamination. No material QA/QC issues have been identified with respect to sample collection, security and assaying. The samples are analyzed for gold and silver using a standard fire assay on a 30-gram sample with a gravimetric finish for over-limits. Multi-element geochemistry was determined by ICP-MS using either aqua regia or four acid digestions. Crush rejects, pulps, and the remaining core are stored in a secured facility at Santa Ana for future assay verification. Qualified Person Edwin Naranjo Sierra is the designated Qualified Person within the meaning of the National Instrument 43-101 and has reviewed and verified the technical information in this news release. Mr. Naranjo holds a MSc. in Earth Sciences, and is a Fellow of the Australasian Institute of Mining and Metallurgy (FAusIMM). Mr. Naranjo Sierra is a consultant to the company and is therefore independent for the purposes of NI 43-101. About Santa Ana The 100% owned Santa Ana project covers 27,000 hectares within the Mariquita District, through titles and applications, 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, detailed in the NI 43-101 Technical Report titled "Santa Ana Property Mineral Resource Estimate," dated June 8, 2023, prepared by AMC Mining Consultants, indicates an estimated indicated resource of 24.2 million ounces silver equivalent at a grade of 614 grams per tonne and an inferred resource of 13.5 million ounces at a grade of 435 grams per tonne. 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 drilling campaign aims to extend known mineralization and test new high-potential areas along the permitted section of the project's extensive 30 kilometres of mineralized trend. This year's exploration strategy aims to demonstrate a clear pathway to substantially expand the resource. 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. About Outcrop Silver Outcrop Silver is a leading explorer and developer focused on advancing its flagship Santa Ana high-grade silver project in Colombia. Leveraging a disciplined and seasoned team of professionals with decades of experience in the region. Outcrop Silver is dedicated to expanding current mineral resources through strategic exploration initiatives. At the core of our operations is a commitment to responsible mining practices and community engagement, underscoring our approach to sustainable development. Our expertise in navigating complex geological and market conditions enables us to consistently identify and capitalize on opportunities to enhance shareholder value. With a deep understanding of the Colombian mining landscape and a track record of successful exploration, Outcrop Silver is poised to transform the Santa Ana project into a significant silver producer, contributing positively to the local economy and setting new standards in the mining industry. ON BEHALF OF THE BOARD OF DIRECTORS Neither the TSX Venture Exchange nor its Regulation Services Provider (as such term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. Certain information contained herein constitutes "forward-looking information" under Canadian securities legislation. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "potential," "we believe," or variations of such words and phrases or statements that certain actions, events or results "will" occur. Forward-looking statements are based on the opinions and estimates of management as of the date such statements are made and they are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Outcrop Silver to be materially different from those expressed or implied by such forward-looking statements or forward-looking information, including: the receipt of all necessary regulatory approvals, capital expenditures and other costs, financing and additional capital requirements, completion of due diligence, general economic, market and business conditions, new legislation, uncertainties resulting from potential delays or changes in plans, political uncertainties, and the state of the securities markets generally. Although management of Outcrop Silver have attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. Outcrop Silver will not update any forward-looking statements or forward-looking information that are incorporated by reference. SOURCE Outcrop Silver & Gold Corporation View original content to download multimedia:
Cision Canada
06-05-2025
- Business
- Cision Canada
OUTCROP SILVER INTERCEPTS ONE OF THE BEST HOLES TO-DATE AT THE RECENTLY DISCOVERED LOS MANGOS VEIN: 18.30 METRES AT 992 G/T SILVER EQUIVALENT
VANCOUVER, BC, May 6, 2025 /CNW/ - Outcrop Silver & Gold Corporation (TSXV: OCG) (OTCQX: OCGSF) (DE: MRG) ("Outcrop Silver") is pleased to announce a major high-grade silver drill result at the Los Mangos vein, part of its 100%-owned Santa Ana high-grade silver project in Colombia. Follow-up drilling has delivered the widest and highest-grade intercept to date from the Los Mangos target, located more than 8 kilometres south of the current resource area, reinforcing the system's scale and continuity. Highlights Hole DH459 result represents one of the best drill results in the history of the Santa Ana project on a silver equivalent grade-metres basis with 18,157 gm/t AgEq (Table 2). Hole DH459 intersected 18.30 metres grading 992 grams per tonne of silver equivalent (736 g/t Ag and 3.41 g/t Au) in the Los Mangos vein (Table 1). Mineralization was intercepted at 193 metres down hole below the historic mine. Recently announced additional high-grade drill results along strike at Los Mangos below the historic mine include: DH457: 8.20 metres at 669 g/t AgEq (News Release dated April 22, 2025) DH451: 7.18 metres at 358 g/t AgEq (News Release dated April 1, 2025) DH444: 1.92 metres at 586 g/t AgEq (News Release dated March 12, 2025) The Las Maras vein with comparable grades and widths to Los Mangos was the largest contributor to the initial indicated resource (refer to News Release dated April 26, 2023). The exceptional width and grade intercepted in drill hole DH459 confirm the presence of a substantial and continuous high-grade mineralized zone at the intersection of the Los Mangos and Mangos SE veins. The intercept also demonstrates the strong vertical continuity of the vein system at depth, with silver mineralization hosted in quartz-sulfide breccias and veins within altered green schists and intrusive dikes. Table 1. Drill hole assay results reported in this release. "This is a transformational intercept for the Los Mangos system," commented Ian Harris, President and CEO. "Drilling 18.30 metres at nearly 1 kilogram per tonne silver equivalent is extraordinary. It shows the exceptional grade and the system's structural robustness and width potential. With results like these continually to systematically step out more than 8 kilometres south of our current resource, we're confident we are increasing our understanding of the scale of Santa Ana. As we continue testing priority targets across the district, we're well-positioned to deliver further high-grade discoveries ahead of our next resource update." The Los Mangos vein system, located in the central corridor of the Santa Ana Project, has now been confirmed over a strike length exceeding 350 metres (Figure 1) and to vertical depths greater than 200 metres (Figure 2). Drilling and surface sampling have outlined structurally controlled, high-grade silver-gold mineralization hosted in altered green schists and granodioritic dikes. The vein system is associated with strong alteration halos and historic workings, including the El 20 old mine workings, as previously reported (refer to News Release dated November 12, 2024). Previously announced high-grade drill results include: With multiple high-grade intercepts now confirmed, the Los Mangos vein system is emerging as a significant contributor to Outcrop Silver's near-term resource expansion strategy at the Santa Ana Project. Its rapid evolution from discovery to multiple mineralized intercepts highlights the effectiveness of Outcrop Silver's systematic exploration approach and underscores the broader potential of the fully permitted, 17-kilometres mineralized corridor that extends across the Santa Ana district. Table 2. Selected side-by-side drill results comparison at the Santa Ana project with intercept lengths over 3 metres. * Based on silver equivalent grade-metres (AgEq gm/t), which reflect the product of grade multiplied by the mineralized lenght. Length does not represent an estimated true width. Table 3. Surface chip and grab sample results in the Los Mangos vein target from the regional exploration program, including those previously reported and referred to in Figure 1 (see News Releases dated August 23, 2023, and March 12, 2025). By their nature, grab samples are selective, and the assay results may not necessarily represent true underlying mineralization. Coordinates are UTM system, zone 18N and WGS84 projection. Table 4. Collar and survey table for drill holes reported and referred to in this release. All coordinates are UTM system, Zone 18N, and WGS84 projection. 1 Silver Equivalent Metal prices used for equivalent calculations were US$1,800/oz for gold, and US$25/oz for silver. Metallurgical recoveries based on Outcrop Silver's metallurgical test work are 97% for gold and 93% for silver (see news release dated August 23, 2023). The equivalency formula is as follows: QA/QC Outcrop Silver applied its standard protocols for sampling and assay for exploration activities. Underground channel samples were taken perpendicular to the vein and sample length was broken by geology. Core diameter is a mix of HTW and NTW depending on the depth of the drill hole. Diamond drill core boxes were photographed, sawed, sampled and tagged. Samples were bagged, tagged and packaged for shipment by truck from Santa Ana's core logging facilities in Falan, Colombia to the Actlabs certified sample preparation facility in Medellin, Colombia. ActLabs is an accredited laboratory independent of the Company. HQ-NTW core is sawn with one-half shipped. Samples delivered to Actlabs were AA assayed on Au, Ag, Pb, and Zn at Medellin using 1A2Au, 1A3Au, Multi-elements AR (Ag Cu Pb Zn), and Code 8 methods. Then, samples were sent to Actlabs Mexico for ICP-multi-elemental analysis with code 1E3. In line with QA/QC best practices, blanks, duplicates, and certified reference materials are inserted at approximately three control samples every twenty samples into the sample stream, monitoring laboratory performance. A comparison of control samples and their standard deviations indicates acceptable accuracy of the assays and no detectible contamination. No material QA/QC issues have been identified with respect to sample collection, security and assaying. The samples are analyzed for gold and silver using a standard fire assay on a 30-gram sample with a gravimetric finish for over-limits. Multi-element geochemistry was determined by ICP-MS using either aqua regia or four acid digestions. Crush rejects, pulps, and the remaining core are stored in a secured facility at Santa Ana for future assay verification. Qualified Person Edwin Naranjo Sierra is the designated Qualified Person within the meaning of the National Instrument 43-101 and has reviewed and verified the technical information in this news release. Mr. Naranjo holds a MSc. in Earth Sciences, and is a Fellow of the Australasian Institute of Mining and Metallurgy (FAusIMM). Mr. Naranjo Sierra is a consultant to the company and is therefore independent for the purposes of NI 43-101. About Santa Ana The 100% owned Santa Ana project covers 27,000 hectares within the Mariquita District, through titles and applications, 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, detailed in the NI 43-101 Technical Report titled "Santa Ana Property Mineral Resource Estimate," dated June 8, 2023, prepared by AMC Mining Consultants, indicates an estimated indicated resource of 24.2 million ounces silver equivalent at a grade of 614 grams per tonne and an inferred resource of 13.5 million ounces at a grade of 435 grams per tonne. 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 drilling campaign aims to extend known mineralization and test new high-potential areas along the permitted section of the project's extensive 30 kilometres of mineralized trend. This year's exploration strategy aims to demonstrate a clear pathway to substantially expand the resource. 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. About Outcrop Silver Outcrop Silver is a leading explorer and developer focused on advancing its flagship Santa Ana high-grade silver project in Colombia. Leveraging a disciplined and seasoned team of professionals with decades of experience in the region. Outcrop Silver is dedicated to expanding current mineral resources through strategic exploration initiatives. At the core of our operations is a commitment to responsible mining practices and community engagement, underscoring our approach to sustainable development. Our expertise in navigating complex geological and market conditions enables us to consistently identify and capitalize on opportunities to enhance shareholder value. With a deep understanding of the Colombian mining landscape and a track record of successful exploration, Outcrop Silver is poised to transform the Santa Ana project into a significant silver producer, contributing positively to the local economy and setting new standards in the mining industry. ON BEHALF OF THE BOARD OF DIRECTORS Ian Harris Chief Executive Officer +1 604 638 2545 [email protected] Kathy Li Vice President of Investor Relations +1 778 783 2818 [email protected] Neither the TSX Venture Exchange nor its Regulation Services Provider (as such term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. Certain information contained herein constitutes "forward-looking information" under Canadian securities legislation. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "potential," "we believe," or variations of such words and phrases or statements that certain actions, events or results "will" occur. Forward-looking statements are based on the opinions and estimates of management as of the date such statements are made and they are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Outcrop Silver to be materially different from those expressed or implied by such forward-looking statements or forward-looking information, including: the receipt of all necessary regulatory approvals, capital expenditures and other costs, financing and additional capital requirements, completion of due diligence, general economic, market and business conditions, new legislation, uncertainties resulting from potential delays or changes in plans, political uncertainties, and the state of the securities markets generally. Although management of Outcrop Silver have attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. Outcrop Silver will not update any forward-looking statements or forward-looking information that are incorporated by reference.
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21-03-2025
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Outcrop Silver Announces Upsize of Public Offering to $6.5 Million, Led by Investment from Eric Sprott
NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES VANCOUVER, British Columbia, March 21, 2025 (GLOBE NEWSWIRE) -- Outcrop Silver & Gold Corporation (TSXV: OCG) (OTCQX: OCGSF) (DE: MRG) ("Outcrop Silver" or the 'Company') is pleased to announce that, due to strong investor demand, it has increased the size of its previously announced public offering of units of the Company (the 'Units') for aggregate gross proceeds of up to $6,500,000 (the "Offering") at a price of $0.22 per Unit. The Offering is being led by Research Capital as sole agent and sole bookrunner (the 'Agent'). Mr. Eric Sprott, through 2176423 Ontario Ltd., has indicated his intention to participate in the Offering. Each Unit will be comprised of one common share of the Company (a "Common Share") and one-half of one Common Share purchase warrant (each whole warrant, a "Warrant"). Each Warrant will entitle the holder thereof to purchase one Common Share at an exercise price of $0.30 for a period of 24 months following the closing of the Offering. The Company has granted the Agent an option (the 'Over-Allotment Option') to increase the size of the Offering by up to an additional number of Units, and/or the components thereof, that in the aggregate would be equal to approximately 15% of the total number of Units to be issued under the Offering, to cover over-allotments, if any, and for market stabilization purposes, exercisable at any time and from time to time up to 30 days following the closing of the Offering. The net proceeds from the Offering will be used by the Company for the exploration and development of the Santa Ana Project, working capital and general corporate purposes. The closing of the Offering is expected to occur on or about March 26, 2025 (the 'Closing'), or on such date as agreed upon between the Company and the Agent, and is subject to the Company receiving all necessary regulatory approvals, including the approval of the TSX Venture Exchange (the 'Exchange') to list, on the date of Closing, the Common Shares and the Common Shares issuable upon exercise of the Warrants and compensation warrants thereon. A.G.P. Canada Investments ULC is appointed as financial advisor to the Company on the Offering. In connection with the Offering, the Company intends to file a prospectus supplement (the "Supplement") to the Company's short form base shelf prospectus dated August 18, 2023 (the "Shelf Prospectus"), with the securities regulatory authorities in each of the provinces of Canada (except Quebec). Copies of the Shelf Prospectus and, the Supplement to be filed in connection with the Offering, can be found on SEDAR+ at The Shelf Prospectus contains, and the Supplement will contain, important detailed information about the Company and the Offering. Prospective investors should read the Supplement and accompanying Shelf Prospectus and the other documents the Company has filed on SEDAR+ at before making an investment decision. This press release is not an offer to sell or the solicitation of an offer to buy the securities in the United States or in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to qualification or registration under the securities laws of such jurisdiction. The securities being offered have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and such securities may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons absent registration or an applicable exemption from U.S. registration requirements and applicable U.S. state securities laws. About Outcrop Silver Outcrop Silver is a leading explorer and developer focused on advancing its flagship Santa Ana high-grade silver project in Colombia. Leveraging a disciplined and seasoned team of professionals with decades of experience in the region. Outcrop Silver is dedicated to expanding current mineral resources through strategic exploration initiatives. At the core of our operations is a commitment to responsible mining practices and community engagement, underscoring our approach to sustainable development. Our expertise in navigating complex geological and market conditions enables us to consistently identify and capitalize on opportunities to enhance shareholder value. With a deep understanding of the Colombian mining landscape and a track record of successful exploration, Outcrop Silver is poised to transform the Santa Ana project into a significant silver producer, contributing positively to the local economy and setting new standards in the mining industry. ON BEHALF OF THE BOARD OF DIRECTORS Ian HarrisChief Executive Officer +1 604 638 2545harris@ Kathy LiVice President of Investor Relations+1 778 783 2818li@ Neither the Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Exchange) accepts responsibility for the adequacy or accuracy of this release. Forward-looking statements This news release contains certain statements which constitute forward-looking statements or information under applicable Canadian securities laws, including statements relating to the expected size of the Offering, the anticipated timing of closing the Offering, the ability of the Company to satisfy all conditions to closing the Offering, and the expected use of proceeds from the Offering. Such forward-looking statements are subject to numerous known and unknown risks, uncertainties and other factors, some of which are beyond the Company's control, which could cause actual results or events to differ materially from those stated, anticipated or implied in the forward-looking statements. These risks and uncertainties include general economic and capital markets conditions, stock market volatility, the ability of the Company to obtain necessary consents for the Offering, including the approval of the Exchange, and the ability of the Company to complete the Offering on the terms expected or at all. Although the Company believes that the forward-looking statements in this news release are reasonable, they are based on factors and assumptions, based on currently available information, concerning future events, which may prove to be inaccurate. As such, readers are cautioned not to place undue reliance on the forward-looking statements, as no assurance can be provided as to future plans, operations, results, levels of activity or achievements. The forward-looking statements contained in this news release are made as of the date of this news release and, except as required by applicable law, the Company does not undertake any obligation to publicly update or to revise any of the forward-looking statements, whether as a result of new information, future events or in to access your portfolio
