Outcrop Gold Corp. (OCG:TSX.V; OCGSF:OTCPK; MRG1:DE), in a news release announced the results of "five holes from continuing delineation drilling in La Ivana and an update on exploration drilling on its 100% owned Santa Ana project in north Tolima, Colombia."
The company highlighted that drill hole SALP21DH110 at La Ivana intersected 0.7 m of 117.5 g/t gold equivalent (Au eq) or 8,584 g/t silver equivalent (Ag eq). A second hole, SALP21DH101, intercepted 1.0 m of 37.4 g/t Au eq or 2,731 g/t Ag eq.
Outcrop Gold's President and CEO Joe Hebert remarked, "Three of five recent delineation holes at La Ivana returned values greater than 2 kilograms silver equivalent per tonne including a remarkable value of 8.6-kilogram silver equivalent per tonne...These values are of significance considering that the average grade of the world's twelve largest silver mines has fallen to 300 grams silver equivalent per tonne."
The firm stated that the high-grade area of mineralization at La Ivana remains open along strike and depth and that it is continuing with greenfield exploration work since less than 25% of the mapped or inferred vein traces have been tested to date.
"Preliminary drilling in greenfield targets Palomo, Prias, Culebra and El Gordo have defined vein structures and local epithermal veins with significantly anomalous mineralization" the company stated.
Outcrop noted that in areas where veins and fault-veins are well defined it will start drilling fans on panels about 135 meters apart. "From results in the central area of known pre-colonial mining, the company expects a shoot periodicity of one to two large, high-grade shoots within each 800 meters of vein. It is expected that systematic drill panels along vein traces will increase the pace of new shoot discovery," the company stated.
Outcrop Gold indicated that the Santa Ana project, which is located in northern Tolima Department, Colombia, covers more than 28,000 hectares and consists of five regional scale parallel vein systems over a 12-km-wide, 30-km-long trend. The firm stated that the Santa Ana project encompasses a significant portion of the Mariquita District, "the highest-grade primary silver district in Colombia, with historic silver grades reported to be among the highest in Latin America from dozens of mines."
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