CNW Group
OUTCROP SILVER REPORTS ADDITIONAL DRILL RESULTS FROM THE JIMENEZ TARGET AT SANTA ANA
CNW Group
9 min read

VANCOUVER, BC, Oct. 23, 2024 /CNW/ - Outcrop Silver & Gold Corporation (TSXV: OCG) (OTCQX: OCGSF) (DE: MRG) ("Outcrop Silver") provides an update on exploration drilling at the Jimenez vein target in its 100% owned Santa Ana high-grade primary silver project. Drilling at Jimenez has returned some of the widest intercepts in the current campaign and unveiled the potential for additional parallel veins carrying high-grade (Figure 2). Outcrop Silver continues drilling with two rigs, one at the Jimenez vein and the second one at La Ye vein, and is well advanced in the execution plan to start drilling at Los Mangos target.

Drilling Highlights

  • DH401 intercepted 0.32 metres at 1,288 grams per tonne of silver equivalent in Jimenez vein, as part of the 3.58 metres vein intercept at 131 grams per tonne of silver equivalent.

  • The newly discovered Jimenez North vein returned 0.30 metres at 789 grams per tonne of silver equivalent, included in a 2.04 metres intercept at 145 grams per tonne of silver equivalent from hole DH401 (Table 1).

  • Drilling at the Jimenez target has confirmed vein continuity along 500 metres of strike and 200 metres down dip (Figure 1 and Figure 2).

"Overall, these results confirm high-grade silver and gold mineralization at Jimenez, with several veins showing significant exploration potential based on their width. The intercepts highlight both narrow high-grade zones and broader zones of mineralization, contributing to the resource expansion potential in this vein system," comments Guillermo Hernandez, Vice President of Exploration. "The consistency of wider veins at Jimenez, as expected based on our geological observations, makes us address this target as a dilational zone with some minor narrow high-grade veins striking East-West."

The Jimenez target is comprised of parallel and subparallel veins (Figure 1), forming a structurally controlled and complex vein system that extends nearly 500 metres along strike. The historical workings, including colonial-era adits, indicate long-term mining activity along the Jimenez vein system The mineralization is hosted within quartz veins and is associated with sulfides, including argentite (silver sulfide), which is typical of the high-grade ore shoots found throughout the Santa Ana project.

Target

Hole ID

From
(m)

To
(m)

Interval
(m)

Estimated
True Width
(m)

Au g/t

Ag g/t

AgEq g/t

Vein

Jimenez

DH393

92.27

92.57

0.30

0.29

0.99

81

155

Vein

DH396

110.42

110.72

0.30

0.23

2.37

266

444

Vein

DH396

224.14

224.47

0.33

0.21

1.23

19

111

Jimenez

DH398

150.42

151.03

0.61

0.41

0.43

89

121

Jimenez North

DH398

179.52

180.34

0.82

0.55

0.67

90

141

Vein

Including

179.52

179.88

0.36

0.24

1.24

163

256

DH398

204.60

205.58

0.98

0.52

0.15

79

91

Jimenez

DH401

170.44

180.66

2.04

1.30

0.30

122

145

Jimenez North

Including

180.36

180.66

0.30

0.19

1.28

692

789

DH401

226.20

226.50

0.30

0.15

3.24

821

1,064

Vein

DH401

278.10

281.68

3.58

2.09

0.22

115

131

Jimenez

Including

281.36

281.68

0.32

0.19

1.55

1,171

1,288

DH403

196.16

196.46

0.30

0.16

1.17

543

630

Jimenez North

DH403

228.75

229.95

1.20

0.68

0.35

220

246

Jimenez

Table 1. Drill hole assay results reported in this release. Silver equivalent (AgEq) was calculated using the prices, recovery and grades of each element using the formula given in the silver equivalent note
Figure 1. Plan view of the Jimenez vein system showing the drill holes reported in this release (Table 1), drilling and channel samples previously reported and reported in this release (Table 2). Silver equivalent (AgEq) was calculated using the prices, recovery and grades of each element using the formula given in the silver equivalent note. (CNW Group/Outcrop Silver & Gold Corporation)
Figure 1. Plan view of the Jimenez vein system showing the drill holes reported in this release (Table 1), drilling and channel samples previously reported and reported in this release (Table 2). Silver equivalent (AgEq) was calculated using the prices, recovery and grades of each element using the formula given in the silver equivalent note. (CNW Group/Outcrop Silver & Gold Corporation)

The drill program at the Jimenez target is focused on testing both the depth and lateral extensions of the vein, with the objective of expanding the resource potential. Confirmed high-grade zones and continuity of mineralization at depth strengthen the case for resource expansion, particularly given the vein's width. Promising results from the Jimenez North vein, which runs parallel to the Jimenez vein, highlight the potential for wider and high-grade vein intercepts.

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