VANCOUVER, BC, March 12, 2025 /CNW/ - Outcrop Silver & Gold Corporation (TSXV: OCG) (OTCQX: OCGSF) (DE: MRG) ("Outcrop Silver") is pleased to announce the discovery of high-grade mineralization through drilling at its 100% owned Santa Ana high-grade silver project in Colombia, after following the company's strategy of making large step-outs to the south, along the 17 kilometre fully permitted vein system corridor. This discovery reinforces the path for scalability and high-grade potential of the Santa Ana project as the drilling continues at this highly prospective target.
Drilling Highlights
Hole DH444 intercepted 1.92 metres grading 586 grams per tonne of silver equivalent, making a high-grade discovery at the Mangos SE vein (Table 1).
Hole DH442 intercepted 2.36 metres grading 404 grams per tonne of silver equivalent at Los Mangos vein (Table 1).
The discovery at Los Mangos confirms the success of Outcrop Silver's exploration strategy by making large step-outs along the 17-kilometre fully permitted mineralized corridor. Los Mangos is 8 kilometres south of the resource and 4 kilometres south of the recent La Ye discovery.
"The results from Los Mangos are a major breakthrough for the Santa Ana project, confirming high-grade silver-gold mineralization in yet another significant step-out. Hitting strong grades more than 8 kilometers south of the closest resource vein proves the great potential of this system and validates our exploration strategy," comments Guillermo Hernandez, Vice President of Exploration. "With intercepts like 2.36 meters at 404 g/t AgEq, we are seeing wider mineralized veins that reinforce the strength of the vein system. This discovery not only extends our high-grade footprint but also unlocks new opportunities for further expansion in the underexplored central and southern portions of Santa Ana."
The Los Mangos is a high-grade silver-gold vein system located in the central portion of the Santa Ana project (Figure 1). The vein has a confirmed strike length exceeding 350 meters, highlighting its potential for further expansion. It trends 40° and 60° dipping 60° to 80° to the southeast, with localized northwest-dipping structures (Figure 1 and Figure 2). The main mineralized zone ranges up to 1.20 meters in width, with strong argillic and sericitic alteration in the surrounding wall rock, particularly evident in the historic El 20 underground workings (Figure 3). The vein is hosted within green schists and granodioritic to dioritic dikes, indicating that mineralization is strongly influenced by both structural and lithological controls.
Target
Hole ID
From (m)
To (m)
Length * (m)
Au g/t
Ag g/t
AgEq1 g/t
Vein
Los Mangos
DH425
170.65
171.29
0.64
0.44
179
212
Los Mangos
DH434
128.36
128.72
0.36
0.37
148
176
Los Mangos
DH436
161.83
162.25
0.42
0.03
874
876
Vein
DH442
123.23
125.20
1.97
1.94
38
184
Mangos SE
Including
123.97
124.63
0.66
4.28
28
349
DH442
141.08
143.44
2.36
0.63
357
404
Los Mangos
Including
141.08
141.68
0.60
1.74
13
143
And
143.03
143.44
0.41
0.26
1,913
1,932
DH444
142.75
144.67
1.92
1.33
486
586
Mangos SE
Including
143.87
144.67
0.80
2.60
1,164
1,360
Table 1. Drill hole assay results reported in this release. *The current knowledge of the Los Mangos vein system does not allow estimating the true width of the vein intercepts.
Figure 1. The plan view of the Los Mangos vein target shows the drill holes reported in this release (Table 1), and surface exploration samples (Table 2). (CNW Group/Outcrop Silver & Gold Corporation)
Figure 2. Geological cross-sections showing Los Mangos vein system. The section width is 75 metres. (CNW Group/Outcrop Silver & Gold Corporation)
The Los Mangos drilling campaign continues to validate the high-grade silver-gold potential in the central portion of the Santa Ana project while also confirming the presence of wider mineralized zones. Notably, hole DH442 intercepted 2.36 meters at 404 g/t AgEq in Los Mangos vein and 1.97 meters at 184 g/t AgEq in the Mangos SE sector. These broader vein widths align with observations from the historic El 20 underground workings, reinforcing the presence of a robust and continuous vein system.
Los Mangos has emerged as a key target for future resource expansion within the Santa Ana project with strong silver-equivalent grades, strike continuity, and geological evidence of structural complexity. Continued exploration will focus on extending known mineralization along strike and testing depth potential further to define the system's scale.
Sample
Easting (m)
Northing (m)
Elevation (m)
Sample Type
Au g/t
Ag g/t
AgEq1 g/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
Current Release
17528
501846.0
556532.2
875.00
Dump Grab
8.04
301
905
Current Release
17531
501847.0
556533.2
875.00
Dump Grab
7.15
81
618
Current Release
17532
501844.0
556530.2
875.00
Dump Grab
0.56
3,019
3,061
Current Release
17687
501659.0
556484.0
1028.00
Chip
3.73
907
1,187
Current Release
17688
501660.0
556474.0
1035.00
Chip
3.04
344
572
Current Release
17765
501754.0
556392.0
987.00
Dump Grab
12.57
215
1,159
Current Release
17766
501742.0
556411.0
974.00
Chip
6.22
122
589
Current Release
Table 2. Channel and chip sample results in Los Mangos vein target from the regional exploration program, including those previously reported and referred to in Figure 1 (refer to News Release dated August 23, 2023). *By their nature, grab samples are selective samples and the assay results may not necessarily represent true underlying mineralization.
Figure 3. Geological map of the El 20 historic underground mine at the Los Mangos vein target (refer to News Release dated November 12, 2024). (CNW Group/Outcrop Silver & Gold Corporation)
Figure 3. Geological map of the El 20 historic underground mine at the Los Mangos vein target (refer to News Release dated November 12, 2024).
Channel ID
Sample
Length (m)
Au g/t
Ag g/t
AgEq1 g/t
MAbs0
1.20
1.79
20
155
Inc.
16153
0.45
4.72
41
396
MAbs2W
1.05
2.28
35
206
Inc.
16729
0.45
5.27
75
471
MAbs4W
1.20
1.55
60
177
Inc.
16732
0.45
4.08
154
461
MAbs8W
1.25
0.85
40
104
Inc.
16738
0.55
1.91
57
201
MAbs10W
0.80
1.39
21
125
Inc.
16742
0.50
2.22
33
200
MAbs12W
1.30
0.47
75
110
Inc.
16147
0.60
0.94
160
230
MAbs14W
1.35
0.29
139
161
Inc.
16745
0.70
0.44
130
163
And
16747
0.65
0.13
150
159
MAbs18W
1.40
0.60
73
117
Inc.
16751
0.70
0.98
139
212
MAbs20W
1.60
0.51
1,737
1,775
Inc.
16144
1.05
0.46
266
301
And
16145
0.55
0.60
4,545
4,591
MAbs24W
1.85
0.11
182
190
Inc.
16138
0.30
0.37
1,053
1,081
MAbs26W
0.70
0.09
411
417
Inc.
16753
0.40
0.04
160
163
And
16754
0.30
0.16
744
756
MAbs28W
1.40
0.18
731
744
Inc.
16756
0.40
0.16
1,500
1,512
And
16757
1.00
0.19
423
437
MAbs30W
1.65
0.37
68
96
Inc.
16762
0.30
0.12
312
321
MAbs32W
1.20
0.07
613
618
Inc.
16767
0.50
0.13
1,466
1,476
MAbs34W
1.15
0.17
545
558
Inc.
16772
0.40
0.45
1,566
1,599
MAbs36W
2.85
0.28
19
40
Inc.
16130
0.85
0.92
56
125
And
16129
0.30
0.04
10
13
MAbs5E
1.00
0.98
45
118
Inc.
17424
0.30
1.25
61
155
And
17425
0.70
0.86
38
103
MAbs0S
16148
1.60
0.15
104
115
MAbsCXSur
0.55
0.26
99
119
Inc.
16157
0.25
0.50
122
159
Table 3. Channel sample assay results from the El 20 historic mine at Los Mangos target (refer to News Release dated November 12, 2024).
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
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:
Silver Equivalency Formula (CNW Group/Outcrop Silver & Gold Corporation)
QA/QC
For exploration activities Outcrop Silver applied its standard protocols for sampling and assay. 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.
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.
Outcrop Silver logo (CNW Group/Outcrop Silver & Gold Corporation)
