Aguilar Vein Key Highlights
- The new drilling confirms the high-grade mineralization at Aguilar, extending the known drilled mineralization by 5 kilometers south of the Mineral Resource area;
- Drill hole DH361 intercepted 0.78 m of 776 grams per tonne of silver equivalent; and
- Follow-up drilling will test extension along strike, and update vectoring for targeting higher grade shoots within Aguilar.
"2024 has been pivotal for Outcrop Silver, underscoring our commitment to unlocking the full potential of the Santa Ana district. The successful initial drilling at Aguilar is not just a technical achievement but a testament to our deep-rooted partnerships with the communities of Tolima and Falan," comments
"The drilling results from Aguilar, situated 5 kilometers from the known resource area within the expansive 30 kilometre vein corridor at Santa Ana, have confirmed the continuity of high-grade silver mineralization across a significant distance," explains
Aguilar
The Aguilar vein was identified through Outcrop Silver's regional target generation program (see news release from
The initial drilling of the Aguilar vein tests the continuity at depth from outcrop channel samples (RX5644 and RX5645) with high-grade assays from the regional target generation program, such as 0.90 m @ 500 g/t AgEq (see news release from
Target | Hole ID | From | To | Interval | Estimated | Au g/t | Ag g/t | AgEq g/t |
Aguilar | SAAG24DH360 | 79.75 | 80.05 | 0.30 | ** | 0.40 | 57 | 87 |
SAAG24DH361 | 22.55 | 22.92 | 0.37 | ** | 1.38 | 339 | 442 | |
SAAG24DH361 | 91.00 | 91.30 | 0.30 | ** | 0.74 | 228 | 283 | |
SAAG24DH361 | 94.07 | 94.85 | 0.78 | ** | 3.79 | 492 | 776 | |
Including | 94.07 | 94.65 | 0.58 | ** | 5.01 | 589 | 965 | |
SAAG24DH363 | Assays Pending | |||||||
Naranjos | SANR24DH358 | 225.40 | 225.75 | 0.35 | 0.28 | 0.60 | 5 | 50 |
SANR24DH359 | 233.17 | 233.45 | 0.28 | 0.23 | 3.48 | 671 | 932 | |
SANR24DH362 | Assays Pending |
Table 1. Current drill assay results. ** Lengths are drill intersections and not necessarily true widths. The current knowledge of the Aguilar vein does not allow for estimating the true width of the vein intercept. |
Hole DH359 intercepted 0.23 metres true width with 3.48 grams per tonne of gold and 671 grams per tonne of silver for 932 g/t AgEq (Table 1), confirming the existence of mineralization to the north and suggests the mineral shoot remains open. Assays are pending from hole DH362 (Figure 4).
Hole ID | Easting | Northing | Elevation (m) | Depth (m) | Azimuth | Dip |
SANR24DH358 | 506146.615 | 568018.916 | 879.367 | 260.29 | 115 | -55 |
SANR24DH359 | 506145.120 | 568020.150 | 878.950 | 265.17 | 115 | -59 |
SAAG24DH360 | 503749.358 | 561149.079 | 1007.270 | 130.02 | 135 | -46 |
SAAG24DH361 | 503748.621 | 561151.057 | 1007.361 | 116.90 | 135 | -77 |
SANR24DH362 | 506145.890 | 568019.915 | 879.290 | 294.00 | 115 | -67 |
SAAG24DH363 | 503748.969 | 561149.485 | 1007.110 | 131.00 | 0 | -90 |
Table 2. Collar and survey table for drill holes reported in this release. All coordinates are UTM system, Zone 18N and WGS84 projection. |
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 project's extensive 30 kilometres of strike. 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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