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Be the first with the news that moves the market- Outcrop Gold (TSXV:OCG) has provided an update on its exploration and drilling activities at the Santa Ana silver and gold project in Colombia
- The current drill program has been designed to define the La Ivana discovery to a depth of 300 metres, which will then be used to advance other targets on the property
- Four new drill holes have been completed with a fifth in progress, totalling 503 metres of drilling
- Once this drilling has been completed, efforts will move to a further nine targets, the first being the El Dorado vein system
- Outcrop Gold (OCG) is currently up 2.86 per cent to C$0.18 per share, with a market cap of $14.11 million
Outcrop Gold (TSXV:OCG) has provided an update on its exploration and drilling activities at the Santa Ana silver and gold project in Colombia.
Santa Ana covers 3,538 hectares within the Municipality of Falan, roughly 15 kilometres southeast of Mariquita and 190 kilometres from Bogota.
The region is a significant high-grade silver district, with mining records dating back as far as 1585.
At least 11 primary vein zones have been found on the project, each with high-grade silver and gold mineralisation. These vein zones cumulatively provide up to 14 kilometres of strike length.
Current drilling efforts at Santa Ana are focused on defining the La Ivana discovery to a depth of 300 metres. This is expected to build a model of high-grade mineralisation which can then be used to define other targets on the property.
So far, four new drill holes have been completed with a fifth currently in progress, totalling 503 metres of drilling.
These first four holes have indicated significant intervals of quartz-sulfide veins, each with sulfide-rich halos. Assays from these holes are expected over the coming weeks, and will be released as they are received.
Following the delineation of La Ivana to depth, drilling will focus on a further nine targets, beginning with the El Dorado vein system. This program will contain roughly 120 planned core holes for a total of 13,000 metres.
Joseph Hebert, CEO of Outcrop Gold, said it is very encouraging to see significant amounts of coarse vein-boulders on soil lines where veins were projected between workings.
“Whereas previously the El Dorado vein zone had been only projected – it is now clearly mappable where soil lines consistently encounter the mineralized vein-boulders.
“And our first four holes at depth in La Ivana have all intercepted mineralization similar to that encountered in the phase one shallow drilling,” he said.
Outcrop Gold (OCG) is currently up 2.86 per cent to C$0.18 per share at 1:24pm EDT.
