Tillkännagivande • May 02
Outcrop Silver & Gold Corporation Reports Additional Drill Results From Guadual Target At Santa Ana Silver Project
Outcrop Silver & Gold Corporation reported additional drill results from the Guadual target at its 100% owned Santa Ana silver project in Colombia. The results confirm the continuity of mineralization within the principal structure and further define the geometry of mineralized shoots within the system. DH567 intersected 0.84 m estimated true width grading 2,844 g/t silver equivalent (2,505 g/t Ag and 3.84 g/t Au). DH593 intersected 1.17 m ETW grading 1,889 g/t AgEq (1,287 g/t Ag and 6.83 g/t Au), demonstrating consistency of mineralization within the interpreted plunging zone. DH587 returned 6.85 m ETW grading 227 g/t AgEq (167 g/t Ag and 0.68 g/t Au), indicating the presence of broader mineralized intervals within the system. Drilling at Guadual continues to confirm continuity of the principal mineralized structure and further define mineralized shoots within the target. At Guadual, recent drilling was designed to test and expand a mineralized zone interpreted to plunge approximately 45 degrees, building on previously reported drilling that established the continuity of the system. The current results confirm continuity of the principal structure and further define mineralized shoots within the target through a combination of step-out and infill drilling. Vein intercepts returned consistent grades and widths across multiple drill holes, supporting the interpretation of high-grade continuity within this plunging zone. Broader intervals, including 6.85 metres estimated true width grading 227 g/t AgEq (167 g/t Ag and 0.68 g/t Au) in hole DH587, together with higher-grade intercepts such as those observed in holes DH567 and DH593, indicate a well-defined mineralized system with both grade and thickness continuity. Hole ID From To Interval (m) Estimated True Width (m) Ag g/t Au g/t AgEq g/t Vein DH567 92.88 93.88 1.00 0.84 2,505 3.84 2,844 Guadual Including 93.20 93.58 0.38 0.32 6,383 9.63 7,233 Guadual DH571 124.5 126.31 1.81 1.20 819 1.65 964 Guadual Including 124.8 125.65 0.85 0.56 1,592 3.22 1,876 Guadual DH573 170.11 170.41 0.30 0.15 154 0.57 205 Guadual DH577 171.85 172.22 0.37 0.29 173 0.45 213 Guadual DH580 205.86 206.32 0.46 0.32 540 1.39 720 Guadual DH580 218.08 219.38 1.30 0.90 162 0.23 183 Guadual DH583 No Significant Result DH587 227 237.8 10.80 6.85 167 0.68 227 Guadual Including 237.23 237.8 0.57 0.36 1,465 4.25 1,840 Guadual DH590 247.8 248.1 0.30 0.13 391 0.72 454 Guadual DH593 214.86 216.95 2.09 1.17 1,287 6.83 1,889 Guadual Including 214.86 215.35 0.49 0.28 5,398 26.92 7,773 Guadual DH599 274.1 274.7 0.60 0.25 116 0.61 170 Guadual DH600 No Significant Result Table 1. Drill hole assay results reported in this release. No Significant Result means intercepts lower than 100 g/t AgEq1 Ongoing drilling and geological modeling are improving the definition of vein geometry, including the orientation and extent of mineralized shoots. These results are being incorporated into the company's geological interpretation and resource modeling work, subject to validation and estimation parameters. Hole ID Hole Code Easting Northing Elevation Depth Azimuth Dip DH567 SAGU25DH567 504711.038 562296.569 1010.137 115.51 132 -53 DH571 SAGU26DH571 504709.283 562296.514 1010.162 142.03 182 -57 DH573 SAGU26DH573 504708.604 562296.648 1010.203 198.39 198 -73 DH577 SAGU26DH577 504669.862 562350.782 993.269 203.17 130 -60 DH580 SAGU26DH580 504668.917 562351.117 992.867 230.12 107 -69 DH583 SAGU26DH583 504668.785 562351.759 992.996 273.8 91 -76 DH587 SAGU26DH587 504668.899 562351.924 992.912 255.11 77 -64 DH590 SAGU26DH590 504748.614 562415.383 957.973 295.96 162 -83 DH593 SAGU26DH593 504749.71 562417.366 958.154 280.11 92 -77 DH599 SAGU26DH599 504751.78 562418.234 958.606 300.53 48 -76 DH600 SAGU26DH600 504666.549 562350.612 992.487 272.18 180 -74 Table 2. Collar and survey table for drill holes and exploratory trenches reported and referred to in this release. All coordinates are UTM system, Zone 18N, and WGS84 projection. The latest results from Guadual build on previously reported drilling and continue to improve the company's understanding of the structural controls, geometry, and distribution of mineralization within the Santa Ana project. The consistency of grades and widths observed across the target supports the interpretation of a coherent mineralized system and provides additional support for the continuity of mineralized shoots at depth. These results also contribute to the ongoing refinement of the Company's structural and geological model, including the definition of mineralized domains and their spatial relationships within the vein system. The latest Guadual drill results are expected to be incorporated into the company's geological interpretation and resource modeling work, supporting an updated Mineral Resource estimate anticipated later this quarter. 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. Metal prices used for equivalent calculations were USD 2,760/oz for gold, and USD 32/oz for silver. Metallurgical recoveries based on Outcrop Silver's metallurgical test work are 98.5% for gold and 96.3% for silver. The equivalency formula is as follows: Outcrop Silver applied its standard protocols for sampling and assay for exploration activities. Core diameter is a mix of HTW and NTW, depending on the drill hole depth. 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 Canada in Ancaster, Ontario, for ICP multi-elemental analysis under code 1E3. In line with QA/QC best practices, blanks, duplicates, and certified reference materials are inserted into the sample stream at approximately 3 control samples every 20 samples to monitor laboratory performance. A comparison of control samples and their standard deviations indicate acceptable assay accuracy and no detectable contamination. No material QA/QC issues have been identified with respect to sample collection, security, and assaying.