Outcrop Silver & Gold has reported assay results from their Santa Ana project in Colombia, with highlights including up to 1,913 grams per tonne of silver. Significant drill intersections confirm robust silver-gold mineralization. Additionally, silver prices have increased due to industrial demand. The project hosts extensive silver and gold resources, reflecting strong exploration potential.
Outcrop Silver & Gold has reported significant assay results from its Santa Ana project located in west-central Colombia, logging grades up to 1,913 grams of silver per tonne from step-out drilling. The highlighted drill hole, DH442, yielded various impressive results, including 2 meters graded at 38 grams silver and 1.94 grams gold, and 0.4 meters at 1,913 grams silver. The project sits approximately 200 km west of Bogotá, in the Tolima Department.
Guillermo Hernandez, the vice-president of exploration at Outcrop, noted that these results from the Los Mangos area constitute a substantial breakthrough for the Santa Ana project, confirming the presence of high-grade silver-gold mineralization. Notably, strong grades were found over 8 km south of the nearest resource vein, underscoring the potential of this promising system and validating the company’s exploration approach.
In alignment with the recent drill findings, silver prices have increased to $33.06 per ounce, influenced by greater industrial demand for the metal, particularly in green energy technology. On the same day, Outcrop’s shares rose 3%, reaching C$0.26, marking a market capitalization of C$89.6 million, with trading ranging from C$0.16 to C$0.34 over the past 52 weeks.
The broader vein widths observed in hole DH442 corroborate historical notes from the El 20 underground workings in the vicinity, indicating a strong and extensive vein system at the site, part of Colombia’s principal silver district with a mining history dating back to 1585. Additional noteworthy assays from the Mangos SE vein indicated a 1.92 meters intersection at 486 grams silver and 1.33 grams gold.
The Santa Ana project hosts approximately 1.22 million indicated tonnes with grades of 446 grams silver and 2.3 grams gold, equating to 17.5 million ounces of contained silver and 88,800 ounces of gold, as stated in a 2023 resource report. The inferred resources stand at 966,000 tonnes averaging 312 grams silver and 1.6 grams gold, totaling around 9.6 million ounces of silver and 50,900 ounces of gold.
In summary, Outcrop Silver & Gold has achieved notable assay results from its Santa Ana project, signifying the potential for high-grade silver and gold mineralization further validating their exploration strategy. The increase in silver prices, alongside the company’s share performance, reflects potential growth in the mining sector. Ultimately, the Santa Ana project presents significant resources, suggesting a promising prospect for future mining endeavors.
Original Source: www.mining.com
