OUTCROP SILVER INTERCEPTS 1.3 METRES OF 888 GRAMS PER TONNE SILVER EQUIVALENT ALONG THE NEW AGUILAR VEIN AT SANTA ANA
Drilling Highlights
-
DH388 intercepted 1.3 metres, returning 888 grams per tonne silver equivalent at the Aguilar vein system (Table 1).
-
Drill hole DH391 intercepted 0.30 metres with 3,043 grams per tonne silver confirming depth continuity of high-grade mineralization seen at surface on the Jimenez vein.
- Drilling to date at the Aguilar vein system has confirmed continuity through step-outs along 1.5 kilometers (see Figure 1), highlighting the potential for multiple mineralized shoots (Figure 2).
"We're thrilled to be pushing further into the southern extensions of the Santa Ana vein system," comments
Drilling along the Aguilar vein system, spanning three targets (Aguilar, Jimenez, and Guadual), has confirmed the lateral continuity of the entire vein system (Figure 1). By combining surface exploration data with underground information from old mine workings, Outcrop Silver has developed a longitudinal section of grade x thickness (Figure 2) to guide and refine follow-up drilling in this vein. Results to date indicate three distinct high-grade areas, which we believe represent mineral shoots with significant potential for resource expansion. The ongoing drilling campaign is focused on the northern section of the Aguilar target and the Jimenez area below the 700-meter elevation, aiming to confirm the presence of a mineral shoot. To date, twenty-one holes have been completed at Aguilar target, with results still pending for one drill hole. Furthermore, eight drill holes have been completed at Guadual zone and two at the Jimenez target, marking significant progress in the exploration efforts.
Target |
Hole ID |
From |
To |
Interval |
Estimated |
Au |
Ag |
AgEq |
Vein |
Aguilar |
DH386 |
Pending Assays |
|||||||
DH388 |
157.97 |
159.27 |
1.30 |
0.91 |
4.27 |
567 |
888 |
Aguilar |
|
Including |
158.97 |
159.27 |
0.30 |
0.21 |
12.54 |
1,499 |
2,440 |
||
DH390 |
142.95 |
143.85 |
0.90 |
0.79 |
1.44 |
202 |
310 |
Aguilar |
|
Including |
142.95 |
143.25 |
0.30 |
0.26 |
3.95 |
423 |
720 |
||
DH390 |
150.84 |
151.14 |
0.30 |
0.26 |
1.01 |
197 |
273 |
Aguilar FW |
|
Jimenez |
DH389 |
129.29 |
130.53 |
1.24 |
** |
No Significant Results |
Jimenez |
||
DH391 |
157.24 |
157.54 |
0.30 |
** |
0.00 |
3,043 |
3,043 |
Jimenez |
|
Guadual |
DH372 |
121.94 |
122.28 |
0.34 |
0.33 |
2.01 |
111 |
262 |
Guadual |
DH374 |
145.63 |
145.98 |
0.35 |
0.32 |
No Significant Results |
Guadual |
|||
DH376 |
143.28 |
143.56 |
0.28 |
0.25 |
0.38 |
178 |
206 |
Guadual |
|
DH377 |
174.10 |
174.60 |
0.50 |
0.40 |
No Significant Results |
Guadual |
|||
DH380 |
183.58 |
183.95 |
0.37 |
0.26 |
No Significant Results |
Guadual |
|||
DH382 |
87.40 |
88.44 |
1.04 |
0.89 |
No Significant Results |
Guadual |
|||
DH384 |
132.51 |
132.95 |
0.44 |
0.23 |
No Significant Results |
Guadual |
|||
DH387 |
87.38 |
89.48 |
2.10 |
Void |
Old Mine Workings |
Table 1. Drill hole assay results reported in this release. ** Current knowledge of the Jimenez vein does not allow for estimating the true width of the vein intercept. Void refers to an intercepted old mine workings with no previous record.
Jimenez and Guadual targets
The Jimenez vein has a confirmed strike length of 500 metres and is located in the central part of the Aguilar vein system (Figure 1). It is characterized by parallel and subparallel veins, with significant historical workings including adits from colonial times, characterize it. High-grade silver and gold mineralization has been reported through Outcrop Silver's target generation program, with assay results of up to 2,903 g/t AgEq and 2,010 g/t AgEq (Table 2).
The Guadual vein is located in the northern part of the Aguilar vein system, with a confirmed strike length of 700 meters. Quartz veins and shear zones, bearing significant silver and gold values, are prominent features of the system (Figure 1). The vein structure is complex, showing multiple parallel and intersecting veins. Notable assays include up to 1,172 g/t silver and 7.78 g/t gold (Table 2).
Sample |
Target |
Type |
Width |
Litholody |
Au g/t |
Ag g/t |
AgEq g/t |
Release Date |
15444 |
Aguilar |
Channel |
0.40 |
QuartzVein |
1.27 |
281 |
376 |
|
15630 |
Aguilar |
Chip |
|
QuartzVein |
5.74 |
1,020 |
1,451 |
|
15644 |
Aguilar |
Channel |
0.40 |
QuartzVein |
1.57 |
349 |
467 |
|
15645 |
Aguilar |
Channel |
0.50 |
QuartzVein |
1.13 |
441 |
526 |
|
15646 |
Aguilar |
Chip |
12.00 |
QuartzVein |
0.96 |
312 |
384 |
|
15650 |
Aguilar |
Channel |
0.70 |
ShearZone |
2.91 |
254 |
472 |
|
15653 |
Aguilar |
Chip |
|
QuartzVein |
5.98 |
1,282 |
1,731 |
|
15654 |
Aguilar |
Channel |
0.25 |
QuartzVein |
5.64 |
1,045 |
1,468 |
|
15806 |
Aguilar |
Chip |
0.30 |
QuartzVein |
2.92 |
343 |
563 |
|
15808 |
Aguilar |
Chip |
2.00 |
QuartzVein |
16.87 |
1,703 |
2,970 |
|
15810 |
Aguilar |
Chip |
|
QuartzVein |
1.58 |
234 |
352 |
|
15811 |
Aguilar |
Chip |
0.28 |
QuartzVein |
6.46 |
772 |
1,257 |
|
15812 |
Aguilar |
Chip |
0.20 |
QuartzVein |
13.07 |
1,915 |
2,897 |
|
15813 |
Aguilar |
Chip |
0.28 |
QuartzVein |
4.23 |
246 |
564 |
|
15814 |
Aguilar |
Chip |
0.62 |
QuartzVein |
4.45 |
1,050 |
1,384 |
|
15822 |
Aguilar |
Chip |
0.40 |
QuartzVein |
4.73 |
581 |
936 |
|
15863 |
Aguilar |
Chip |
0.17 |
QuartzVein |
1.33 |
357 |
457 |
|
15681 |
Guadual |
Chip |
|
QuartzVein |
0.47 |
885 |
921 |
|
15682 |
Guadual |
Chip |
|
QuartzVein |
5.34 |
664 |
1,065 |
|
15696 |
Guadual |
Channel |
0.70 |
QuartzVein |
0.45 |
608 |
642 |
|
15724 |
Guadual |
Chip |
|
QuartzVein |
7.78 |
1,172 |
1,756 |
|
15836 |
Guadual |
Channel |
15.00 |
QuartzVein |
0.40 |
315 |
345 |
|
15840 |
Guadual |
Chip |
0.15 |
QuartzVein |
1.47 |
398 |
508 |
|
15878 |
Guadual |
Chip |
0.20 |
QuartzVein |
1.04 |
311 |
390 |
|
15897 |
Guadual |
Chip |
0.45 |
QuartzVein |
2.61 |
297 |
494 |
|
15898 |
Guadual |
Chip |
0.40 |
QuartzVein |
4.53 |
226 |
567 |
|
16368 |
Guadual |
Channel |
0.20 |
QuartzVein |
1.23 |
400 |
492 |
Current Release |
16369 |
Guadual |
Channel |
0.30 |
ShearZone |
0.71 |
492 |
545 |
Current Release |
16370 |
Guadual |
Chip |
0.20 |
QuartzVein |
2.01 |
1,328 |
1,479 |
Current Release |
15450 |
Jimenez |
UG Channel |
0.30 |
QuartzVein |
6.22 |
2,436 |
2,903 |
|
15472 |
Jimenez |
UG Channel |
0.50 |
ShearZone |
4.50 |
851 |
1,189 |
|
15474 |
Jimenez |
UG Channel |
0.60 |
QuartzVein |
3.35 |
867 |
1,119 |
|
15476 |
Jimenez |
UG Channel |
0.25 |
QuartzVein |
1.17 |
291 |
379 |
|
15478 |
Jimenez |
Chip |
|
QuartzVein |
1.21 |
294 |
385 |
|
16106 |
Jimenez |
Chip |
|
QuartzVein |
3.46 |
633 |
894 |
|
16107 |
Jimenez |
Chip |
|
QuartzVein |
1.99 |
511 |
661 |
|
16113 |
Jimenez |
Channel |
0.20 |
QuartzVein |
2.06 |
643 |
798 |
|
16114 |
Jimenez |
Channel |
0.55 |
QuartzVein |
1.39 |
320 |
425 |
|
16196 |
Jimenez |
Chip |
|
QuartzVein |
1.26 |
658 |
753 |
Current Release |
16331 |
Jimenez |
UG Channel |
0.35 |
QuartzVein |
12.35 |
1,082 |
2,010 |
Current Release |
17352 |
Jimenez |
UG Channel |
0.90 |
QuartzVein |
1.35 |
675 |
777 |
Current Release |
17360 |
Jimenez |
Channel |
0.40 |
QuartzVein |
2.66 |
229 |
430 |
Current Release |
17364 |
Jimenez |
UG Channel |
0.45 |
ShearZone |
1.48 |
350 |
462 |
Current Release |
17366 |
Jimenez |
UG Channel |
0.50 |
ShearZone |
2.28 |
768 |
939 |
Current Release |
17373 |
Jimenez |
Channel |
0.45 |
QuartzVein |
3.93 |
384 |
679 |
Current Release |
16009 |
Morena |
Chip |
0.25 |
QuartzVein |
5.88 |
795 |
1,237 |
|
16010 |
Morena |
Chip |
0.20 |
QuartzVein |
2.03 |
390 |
542 |
|
16556 |
Morena |
Chip |
|
QuartzVein |
2.15 |
652 |
814 |
|
Table 2. Sample assay results from targets referred to in Figure 1 and Figure 2 in this release. For details on regional results, please refer to News Releases dated
Hole ID |
Easting |
Northing |
Elevation |
HoleDepth |
Azimuth |
Dip |
SAGU24DH372 |
504611.831 |
562181.878 |
1024.62 |
151.48 |
131 |
-45 |
SAGU24DH374 |
504611.659 |
562181.937 |
1024.41 |
169.46 |
131 |
-60 |
SAGU24DH376 |
504612.588 |
562182.698 |
1024.59 |
159.71 |
98 |
-50 |
SAGU24DH377 |
504611.975 |
562181.706 |
1024.43 |
201.16 |
130 |
-71 |
SAGU24DH380 |
504601.151 |
562202.905 |
1030.30 |
210.61 |
102 |
-60 |
SAGU24DH382 |
504525.146 |
562060.844 |
1000.30 |
140.20 |
136 |
-45 |
SAGU24DH384 |
504523.853 |
562060.777 |
1001.02 |
190.19 |
179 |
-61 |
SAAG24DH386 |
503759.564 |
561230.611 |
1003.07 |
191.71 |
94 |
-55 |
SAGU24DH387 |
504449.408 |
561932.800 |
982.02 |
108.50 |
78 |
-45 |
SAAG24DH388 |
503759.963 |
561230.614 |
1003.07 |
189.48 |
94 |
-78 |
SAJIM24DH389 |
504448.107 |
561931.265 |
982.10 |
149.04 |
139 |
-80 |
SAAG24DH390 |
503760.128 |
561229.924 |
1003.08 |
197.14 |
111 |
-62 |
SAJIM24DH391 |
504448.088 |
561931.288 |
982.09 |
240.48 |
139 |
-87 |
Table 3. Collar and survey table for drill holes reported in this release. All coordinates are UTM system, Zone 18N and WGS84 projection.
Sample |
Easting |
Northing |
Elevation |
|
Sample |
Easting |
Northing |
Elevation |
|
Sample |
Easting |
Northing |
Elevation |
15444 |
504066 |
561442 |
839 |
|
15681 |
504789 |
562277 |
972 |
|
16106 |
504008 |
561512 |
910 |
15630 |
503863 |
561129 |
1000 |
|
15682 |
504881 |
562356 |
941 |
|
16107 |
504106 |
561543 |
836 |
15644 |
503814 |
561085 |
999 |
|
15696 |
504822 |
562331 |
962 |
|
16113 |
504165 |
561645 |
796 |
15645 |
503815 |
561085 |
999 |
|
15724 |
505162 |
562431 |
918 |
|
16114 |
504168 |
561648 |
791 |
15646 |
503895 |
561162 |
979 |
|
15836 |
504944 |
562349 |
942 |
|
16196 |
504488 |
561457 |
761 |
15650 |
503933 |
561219 |
949 |
|
15840 |
505057 |
562423 |
942 |
|
16331 |
504127 |
561679 |
822 |
15653 |
504003 |
561270 |
917 |
|
15878 |
504637 |
562009 |
969 |
|
17352 |
504405 |
561833 |
919 |
15654 |
503994 |
561298 |
904 |
|
15897 |
504739 |
562077 |
978 |
|
17360 |
504460 |
561901 |
976 |
15806 |
503771 |
561091 |
997 |
|
15898 |
504681 |
562033 |
969 |
|
17364 |
504396 |
561823 |
919 |
15808 |
503770 |
561086 |
998 |
|
16368 |
504903 |
562432 |
940 |
|
17366 |
504398 |
561826 |
919 |
15810 |
503817 |
561169 |
973 |
|
16369 |
504903 |
562432 |
940 |
|
17373 |
504464 |
561861 |
969 |
15811 |
503792 |
561127 |
988 |
|
16370 |
504922 |
562435 |
937 |
|
16009 |
504702 |
561322 |
790 |
15812 |
503799 |
561087 |
999 |
|
15450 |
504144 |
561684 |
797 |
|
16010 |
504754 |
561355 |
824 |
15813 |
503728 |
561191 |
999 |
|
15472 |
504239 |
561692 |
816 |
|
16556 |
504708 |
561322 |
790 |
15814 |
503752 |
561203 |
995 |
|
15474 |
504255 |
561703 |
828 |
|
|
|
|
|
15822 |
503753 |
561203 |
995 |
|
15476 |
504347 |
561775 |
891 |
|
|
|
|
|
15863 |
503705 |
561142 |
1006 |
|
15478 |
504444 |
561713 |
929 |
|
|
|
|
|
Table 4. Sample coordinates reported or referred to in this release from Table 2.
Silver equivalent
Metal prices used for equivalent calculations were
Metallurgical recoveries based on Outcrop Silver's Metallurgical test work are 97% for gold and 93% for silver (see NR from
QA/QC
For exploration core drilling, Outcrop Silver applied its standard protocols for sampling and assay. HQ-NTW core is sawn with one-half shipped. Core samples were sent to either ALS, Actlabs or SGS in
Qualified Person
About Santa Ana
The 100% owned Santa Ana project covers 27,000 hectares within the
Santa Ana's maiden resource estimate, detailed in the NI 43-101 Technical Report titled "Santa Ana Property Mineral Resource Estimate," dated
The 2024 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 strike mineralized trend. This year's exploration strategy aims to demonstrate a clear pathway to substantially expand. 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
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
Chief Executive Officer
+1 604 638 2545
harris@outcropsilver.com
www.outcropsilver.com
Vice President of Investor Relations
+1 778 783 2818
li@outcropsilver.com
Neither the
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 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 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 will not update any forward-looking statements or forward-looking information that are incorporated by reference.
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