Outcrop Silver Reports High-Grade Assays from Santa Ana Project in Colombia

Outcrop Silver reported high-grade assay results from the Santa Ana project in Colombia, with silver grades up to 1,913 grams per tonne. Drilling results showcase significant zones of mineralization, reinforcing the project’s potential. Silver prices have risen amid industrial demand, positively impacting the company’s shares and market capitalization.

Outcrop Silver & Gold (TSXV: OCG) has reported impressive assay results from its Santa Ana project in Colombia, with silver grades reaching as high as 1,913 grams per tonne. Significant findings include highlight hole DH442, which revealed several zones of high-grade mineralization. This project is situated near Falan, Tolima Department, approximately 200 kilometers from Bogotá.

The results from the Los Mangos area signify a major advancement for the Santa Ana project, according to Guillermo Hernandez, VP of Exploration at Outcrop. He noted that the strong grades found more than 8 kilometers south of the nearest resource vein underscore the high potential of the mining system, thus confirming the validity of their exploration strategy.

On the commodities market, silver prices have experienced an increase driven by industrial demand for green energy applications, settling at $33.06 per oz. on Wednesday. Over the past year, silver prices have reached levels not observed since 2013.

Shares of Outcrop Silver rose by 3%, trading at C$0.26, leading to a market capitalization of C$89.6 million. The company’s share price has fluctuated between C$0.16 and C$0.34 within the past year.

Additional drilling results from the Mangos SE vein show promising grades, highlighted by hole DH444, which cut 1.92 meters at 486 grams silver and 1.33 grams gold. These findings highlight the continuity of a strong vein system, similar to historic El 20 underground workings in the region, emphasizing the significance of Santa Ana as Colombia’s most prominent silver district, boasting a mining history dating back to 1585.

Santa Ana currently holds 1.22 million indicated tonnes with grades of 446 grams silver and 2.3 grams gold, translating to 17.5 million ounces of contained silver and 88,800 ounces of gold as per a 2023 initial resource estimate. Additionally, inferred resources are reported at 966,000 tonnes with grades at 312 grams silver and 1.6 grams gold, equating to 9.6 million ounces of silver and 50,900 ounces of gold.

Outcrop Silver & Gold has demonstrated notable progress at the Santa Ana project with high-grade silver and gold assays indicating a rich mineralization potential. The results validate the company’s exploration strategy and the viability of the region as Colombia’s leading silver district. Additionally, favorable silver price trends and the positive performance of the company’s stock further enhance prospects for future operations.

Original Source: www.mining.com