Outcrop Silver & Gold (OCG)- High-Grade Silver Resource Out End 2022

Outcrop Silver and Gold Corp. is a junior Canadian exploration and mining company, focused on the exploration and advancement of its precious metal projects located in Columbia. The company also aims to expand its asset portfolio into various other high-opportunity jurisdictions in the future. The company’s asset portfolio consists of the Santa Ana, Mallama, Antares, Oribella and Argelia projects in Columbia.

The Santa Ana silver and gold project of the company is a 100%-owned, 36,000-hectare land package in the Tolima Department of Columbia. The project boasts as the highest-grade silver project in the country with mineralisation previously encountered including 14 kg/ton of silver over 1.4 m and 10.8 kg/ton of silver equivalent (AgEq) over 1.0 m.

Outcrop Silver and Gold Corp. is currently underway with exploration drilling initiatives at the Santa Ana silver and gold project, at the end of July 2022, the company announced that it had intercepted mineralisation of 2,184 g/t of AgEq over an interval of 6.93 m at the Naranjos vein system of the project. The mineralisation included 8,786 g/t of AgEq over 1.06 m. Outcrop Silver and Gold Corp. on the 9th of August 2022, also announced drill results from its Las Maras Target at the Santa Ana silver and gold project. The highlights of the drill results include 1,651 g/t of AgEq over 8.97 m which included 0.66 m of mineralisation at a grade of 15,941 g/t of AgEq.  

Outcrop Silver and Gold Corp. on the 23rd of August 2022 released an exploration and target generation update for the Santa Ana silver and gold project. The company announced in the release that it was continuing with the generation of exploration targets at the project through mapping, trenching and sampling initiatives. The target generation activities are focused on the project’s Frias-La Ye trend, which is located south of the Aguilar vein system.

The aim of the current exploration initiatives at the Santa Ana silver and gold project is to enable the publishing of a NI 43-101 compliant mineral resource estimate (MRE) of the project by the end of 2022. The NI 43-101 compliant mineral resource estimate will enable the company to raise additional funds to further the Santa Ana silver and gold project.

Outcrop Silver and Gold Corp. does not intend to operate the Santa Ana silver and gold project and instead aims to monetise the project when it has expanded the mineral resource estimate of the project to approximately 100 million silver equivalent ounces. The company however will retain an interest in the project, staying true to its prospecting routes.

Management

Outcrop Silver and Gold Corp. is led by Joe Hebert, who serves as the company’s President, Chief Executive Officer (CEO) and Director. Hebert started his time at the company in 2005 when it was still Miranda Gold Corp. as Vice President of Exploration and has progressed throughout the company to President, CEO and Director. Hebert has been involved in the mining industry for more than 30 years and has been involved in exploration management, diversified mineral exploration and mining geology. Hebert formed part of the exploration team accredited with discovering the Cortez Hills deposit which subsequently became the Goldrush Discovery in the Cortez District of Nevada.

Paul Tagger is the Chief Financial Officer (CFO) of the company and is a Chartered Professional Accountant (CPA) with more than 15 years of experience in the Mining Sector. Tagger previously worked for Fronteer Gold Inc. and before joining Outcrop Silver and Gold served as the CFO for a commodities firm. 

Guillermo Hernández is the Vice President of Exploration for Outcrop Silver and Gold Corp. and has been involved in the mining sector, including exploration, mining and resource estimation for more than 15 years. Hernández holds a bachelor’s degree with honours in geological engineering and a master’s degree in geochemistry from the Universidad Nacional Autonoma de Mexico. He has held various corporate and operational positions at such companies as Lundin Gold Inc.

Melissa Martensen and Kathy Li are the Corporate Secretary and Director of Investor Relations respectively for the company. Martensen has been involved in the administration of junior mining companies for more than 12 years and holds a degree in finance from UNBC in the city of Prince George in northern British Columbia. Li has more than 15 years of experience in investor relations management and has primarily been involved in the natural resources sector. She previously served as the Vice President of Investor Relations for Christensen IR, a leading investor relation consulting firm in New York, Hong Kong and Beijing.

The management team of Outcrop Silver and Gold Corp. are tasked with the advancement of the company’s various projects.

Projects

The asset portfolio of Outcrop Silver and Gold Corp. consists of the Santa Ana, Mallama, Antares, Oribella and Argelia projects, which are all located in Columbia. The Mallama project of the company is a 100%-owned, 9,036-hectare land package in the Nariño Department of Columbia. The project hosts both gold and silver mineralisation with historical records suggesting gold production from artisanal mining activities since the 19th century.

The Antares project of the company holds a land position of approximately 10,500 hectares and lies 20 km northeast of the city of Medellin. The project hosts gold mineralisation within high-density quartz-iron oxide veinlets ranging from less than 1 mm up to 3 cm in width. 

The Oribella and Argelia projects are located within the Antioquia Department of Columbia and hold gold and copper, and gold and silver mineralisation respectively. The Oribella project is an approximately 20,000-hectare land package and holds various gold and copper porphyries within a metal-rich area of the middle Cauca mineral belt. The Argelia project of the company has a land position of 4,355 hectares and has records showing mining on the property for more than 70 years. Outcrop Silver and Gold Corp. is currently underway with a search for joint venture partners to advance both the Oribella and Argelia projects.

The company is primarily focused on the advancement of its Santa Ana silver and gold project, located in the northern Tolima Department of Columbia. The project is 100% owned by the company and holds a land position of over 36,000 hectares. The project is easily accessible through a combination of paved roads and is located in the Mariquita District, the highest-grade primary silver district in Colombia. The historic silver grades that have been reported for the district are also the highest in Latin America. The region shows historical mining records that date as far back as 1585, with it primarily having produced gold through underground mining operations.

Outcrop Silver and Gold Corp. is underway with the exploration of the Santa Ana silver and gold project, with only 10% of the large project having been explored to date. The company has been able to identify 13 high-grade mineralisation shoots through its exploration initiatives.

Exploration

Outcrop silver and Gold Corp. is currently underway with the 4th phase of exploration drilling at the Santa Ana silver and gold project. The phase 4 drilling is planned to consist of 18, 000 m of diamond drilling and will be aimed at exploring the project. The company then plans on conducting an additional 8,500 m of definition drilling aimed at delineating the project resources. The drilling is carried out at the project through three drill rigs.

The company has to date drilled more than 240 drill holes at the Santa Ana silver and gold project, with the weighted average of 170 of the 240 drill holes showing a grade of 1,580 grams per ton silver equivalent (g/t AgEq).

The company has been able to define 13 mineralisation shoots at the project, with the highlights of the exploration drilling to date including 10,783 g/t of AgEq over an intercept of 0.95 m at the Megapozo zone of the project as well as 6,400 g/t of AgEq over 1 m at the project’s La Ivana highwall upper zone.

Outcrop Silver and Gold Corp. on the 14th of July 2022, released the assay results of six core drill holes conducted at the Naranjos structure of the Santa Ana silver and gold project. The assay results of the Naranjos structure showed that its mineralisation is open at depth as are all other mineral shoots of the project. The highlights of the assay results included 1,067 g/t of AgEq over 1.54 m as well as 1,562 g/t of AgEq over 0.61 m. The company also announced in July 2022, that it had intercepted silver mineralisation grading at 2,184 g/t of AgEq over an intercept of 6.93 m, which included an 8,786 g/t AgEq interval of 1.06 m.

Outcrop Silver and Gold Corp. on the 9th of August 2022, released assay results of exploration drilling conducted at the project’s Las Maras target. The drill results were able to usurp the Naranjos zone of the project as the thickest and highest-grade drill intercept encountered to date. The highlights of the assay results included 1,651 g/t of AgEq over 8.97 m which included an interval of 0.66 m at 15,941 g/t of AgEq.

Target generation

Outcrop Silver and Gold Corp. on the 23rd of August 2022 released an exploration and target generation update for its Santa Ana silver and gold project. The company announced in the release that it was continuing with the generation of exploration targets at the project through mapping, trenching and sampling initiatives. The target generation activities are focused on the project’s Frias-La Ye trend, which is located south of the Aguilar vein system.

The company has been able to generate three high-quality drill targets at the project’s Frias-La Ye trend, with the targets showing possible high-grade mineralisation veins. The target generation program has also been able to intercept 9,738 g/t AgEq and 4,545 g/t AgEq at the project’s Los Mangos target. The target generation initiatives have also shown early indications that the Aguilar vein system may be the northern extension of the Frias Vein system.

Future

Outcrop Silver and Gold Corp. aims to develop the Santa Ana silver and gold project to a 45 to 55 million silver equivalent ounce project by the end of Q4 2022. The internal guidance, if met, would place the project in the top 25 percentile of silver projects globally.

The exploration initiatives at the Santa Ana silver and gold project will enable the publishing of a NI 43-101 compliant mineral resource estimate of the project by the end of 2022. The NI 43-101 compliant mineral resource estimate will allow the company to raise additional funds to further the project.

Outcrop Silver and Gold Corp. does not intend to operate the Santa Ana silver and gold project and instead aims to monetise the project at approximately 100 million silver equivalent ounces. The company however will retain an interest in the project, staying true to its prospecting routes.

The monetisation of the Santa Ana silver and gold project is planned to be followed by the advancement of the company’s Argelia and Mallama projects. The company has to date completed scout drilling at the Argelia high-grade vein system and encountered mineralisation of 20 g/t of gold over an intercept of 3.8 m.  Outcrop Silver and Gold Corp. is also underway with CSR and ESG programs at its Mallama project. The Bomba zone of the Mallama project has 8 mineralisation veins at a length of 4 to 6 km with mineralisation of 22.5 g/t  of gold and 220 g/t of silver.

To find out more, go to the Outcrop Silver & Gold website