VANCOUVER, BC, Jan. 13, 2021 /CNW/ – Outcrop Gold Corp. (TSXV: OCG) (OTCPK: MRDD.F) (DE: MRG1) (“Outcrop“) is happy to announce extra assay outcomes from El Dorado goal on its 100% owned Santa Ana venture in north Tolima, Colombia. Extra mineralized holes have expanded El Dorado, drilled important ends in the Paraiso vein and prolonged La Ivana shoot down dip. 4 targets have been superior for successive drill testing after El Dorado, Roberto Tovar and San Juan are delineated and their open extensions are closed off.
Highlights
- 1.2 metres of 20.3 grams gold equal per tonne or 1,486 grams silver equal silver per tonne intercepted.
- Drilling continues to indicate that El Dorado is a package deal of 4 or extra parallel, carefully spaced high-angle veins and stays open.
- The adjoining low angle Paraiso vein could present a sixth high-grade discovery when delineated by additional drilling. The Paraiso vein is steady 600 metres to the northeast the place it hosts the Megapozo discovery.
- Deeper Paraiso drill holes intercepted La Ivana and prolonged that shoot to 350 metres down dip the place La Ivana stays open at depth.
- 4 extra targets are able to drill.
“Exploration success at Santa Ana continues to indicate quite a few shoots with good inside grade distribution and bodily continuity,” commented Joe Hebert, President and CEO. “Open strike and particularly depth extensions to mineralization may doubtlessly double the scale of the present shoots. Extra drilling is required to resolve whether or not Paraiso is one other important high-grade shoot between El Dorado and Megapozo. An extra high-grade intercept within the northern Paraiso, together with the lately found and blind San Juan shoot recommend that Santa Ana is a really target-rich atmosphere, composed of a posh intersecting vein system with excessive shoot density.”
The Paraiso vein outcrops 200 metres east of the high-angle El Dorado vein set and 400 metres west of the low-angle La Ivana shoot. The Paraiso vein is sub-parallel to La Ivana and the deeper Paraiso drill holes intercepted La Ivana at depth and prolonged La Ivana to over 350 metres down dip the place it’s nonetheless open. The Paraiso vein continues 600 metres southeast of El Dorado to the place it hosts the Megapozo shoot. The 600 metres of untested Paraiso vein may be very potential for an additional discovery. Extra drill targets have been superior together with the San Antonio, the north and south Morales, and the Palomos.
On Monday January 11, 2021, Outcrop shared a year-end letter to shareholders highlighting the quite a few operational and company achievements in 2020. A duplicate of this letter might be discovered here, or within the news part on Outcrop’s web site.
Desk 1: El Dorado drilling intercepts
|
Gap ID
|
From (m)
|
To (m)
|
Width (m)
|
g Au/t
|
g Ag/t
|
% Pb
|
% Zn
|
g Eq Au/t
|
g Eq Ag/t
|
|
SAED20DH52*
|
11.32
|
12.19
|
0.87
|
17.15
|
35
|
0.08
|
0.11
|
17.7
|
1,293
|
|
SAED20DH52*
|
131.32
|
132.00
|
0.50
|
1.24
|
219
|
0.39
|
0.14
|
4.4
|
323
|
|
SAED20DH55*
|
185.15
|
185.45
|
0.30
|
4.63
|
310
|
0.84
|
0.62
|
9.4
|
685
|
|
SAED20DH56*
|
80.10
|
80.38
|
0.28
|
3.42
|
652
|
0.33
|
0.54
|
12.7
|
925
|
|
SAED20DH56*
|
80.40
|
84.20
|
3.82
|
Historic Workings
| |||||
|
SAED20DH61*
|
110.21
|
110.91
|
0.70
|
1.53
|
402
|
0.20
|
0.38
|
7.2
|
529
|
|
SAED20DH61*
|
118.47
|
119.06
|
0.59
|
5.01
|
1,290
|
0.20
|
0.38
|
23.1
|
1,690
|
|
SAED20DH61*
|
137.24
|
137.85
|
0.61
|
8.82
|
244
|
0.41
|
1.09
|
12.7
|
929
|
|
SAED20DH61*
|
150.62
|
151.15
|
0.53
|
3.27
|
89
|
0.16
|
0.21
|
4.6
|
337
|
|
SAED20DH63
|
154.60
|
154.95
|
0.35
|
3.44
|
559
|
0.02
|
0.43
|
11.3
|
823
|
|
SAED20DH63
|
203.85
|
204.15
|
0.30
|
3.55
|
515
|
0.28
|
0.31
|
10.8
|
790
|
|
SAED20DH63
|
220.00
|
221.20
|
1.20
|
4.67
|
1,127
|
0.42
|
0.27
|
20.3
|
1,486
|
|
SAED20DH67
|
59.70
|
60.30
|
0.60
|
11.97
|
8
|
0.00
|
0.00
|
12.1
|
883
|
For equal calculations $1,900 per ounce gold, $26 per ounce silver, $0.87 per pound lead and $1.08 per pound zinc have been used. Intervals proven are drill intercept, true thickness aren’t but calculated. *Beforehand reported.
Map 1: Relation of El Dorado shoot and Paraiso vein to different discoveries. The Paraiso vein is open and extends 600 metres to the place it hosts the Megapozo discovery. Drill-holes in Paraiso intecept the extension of La Ivana 350 metres down dip.
Map 2: Drill gap areas and projections in El Dorado and La Ivana areas. Assays are reported in Desk 1 above. The goal space consists of the high-angle El Dorado veins system and the low-angle Paraiso vein. La Ivana shoot and La Porfia vein system proven to east. DH52 and 53 intersect each the Paraiso vein close to floor and La Ivana shoot at 350 metres down dip.
Part 1: Composite cross part of El Dorado veins. Intercepts in assay desk above. Dorado shoot continues alongside strike as a package deal of a number of carefully spaced veins. DH67 intercepts the low angle Paraiso vein that may be traced for 600 metres to the place is hosts the Megapozo shoot.
Part 2: Cross part displaying Paraiso vein in El Dorado goal and relation to La Ivana. The margin quite than core of La Ivana illustrated. The Paraiso vein might be traced for 500 metres to the Megapozo discovery. La Ivana shoot accommodates the primary Porfia, Porfia “hanging wall” veins and extra stacked vein segments regionally.
QA/QC
Core samples are despatched to both Actlabs in Medellin or ALS Chemex in Medellin for preparation after which to ALS Chemex in Toronto or Lima, Peru for evaluation. According to QA/QC greatest follow, roughly three management samples are inserted per twenty samples (one clean, one commonplace and one discipline duplicate). The samples are analyzed for gold utilizing commonplace fire-assay on a 50-gram pattern with a gravimetric end. Multi-element geochemistry is set by ICP-MS utilizing both aqua regia (ME-MS41) or 4 acid (ME-MS61) digestion. Comparability to manage samples and their commonplace deviations signifies acceptable accuracy of the assays and no detectible contamination.
About Santa Ana Undertaking
The Santa Ana venture includes over 25,000 ha positioned in northern Tolima Division, Colombia, 190 km from Bogota. The venture consists of 5 regional scale parallel vein techniques throughout a development 12 kilometres large and 30 kilometres lengthy. The Santa Ana venture covers a major a part of the Mariquita District the place mining information date to a minimum of 1585. The Mariquita District is the highest-grade main silver district in Colombia, with historic silver grades reported to be among the many highest in Latin America from dozens of mines.
Historic mining depths help a geologic and exploration mannequin for composite mesothermal and epithermal vein techniques having mineralization that possible extends to nice depth. At Santa Ana it’s unlikely that there’s sharp elevation restriction widespread to high-grade zones in lots of epithermal techniques with no mesozonal element.
On the core Santa Ana venture, positioned on the northern extent of simply one of many regional vein techniques, a minimum of twelve precept vein zones are acknowledged that cumulatively present as much as 14 km of cumulative strike size – La Ivana (La Porfia vein system), Roberto Tovar (Royal Mines, together with the Santa Ana, Delhuyar and Roberto Tovar vein techniques), San Juan (Santa Ana and Delhuyar vein techniques), El Dorado (El Dorado and El Paraiso vein techniques), Morales, Pollera, Guanabanera, San Antonio, Palomos, Murillo, Culebra and Megapozo (El Paraiso vein system). Every zone generally accommodates a number of parallel veins. The veins can present each high-grade silver and high-grade gold mineralization and could also be each high and low angle relying on native controls. Drilling signifies that mineralization extends from floor or close to floor to depths of a minimum of 300 to 450 metres.
About Outcrop Gold
Outcrop is a hybrid prospect generator energetic in Colombia buying gold and silver exploration initiatives with world-class discovery potential. Outcrop performs its personal grass roots exploration after which employs a three way partnership enterprise mannequin on its initiatives to maximise investor publicity to discovery and reduce monetary threat. Outcrop has seven main initiatives in Colombia. Whereas Outcrop’s different initiatives can be found for three way partnership, Outcrop will proceed to drill and de-risk the Santa Ana high-grade silver venture.
Certified individual
The technical info on this information launch has been accredited by Joseph P Hebert, a certified individual as outlined in NI43-101 and President and Chief Government Officer of Outcrop.
ON BEHALF OF THE BOARD OF DIRECTORS
Neither the TSX Enterprise Trade nor its Regulation Companies Supplier (as such time period is outlined within the insurance policies of the TSX Enterprise Trade) accepts accountability for the adequacy or accuracy of this launch. Sure info contained herein constitutes “forward-looking info” below Canadian securities laws. Usually, forward-looking info might be recognized by means of forward-looking terminology corresponding to “potential”, “we consider”, or variations of such phrases and phrases or statements that sure actions, occasions or outcomes “will” happen. Ahead-looking statements are primarily based on the opinions and estimates of administration as of the date such statements are made and they’re topic to recognized and unknown dangers, uncertainties and different components that will trigger the precise outcomes, degree of exercise, efficiency or achievements of Outcrop to be materially completely different from these expressed or implied by such forward-looking statements or forward-looking info, together with: the receipt of all needed regulatory approvals, capital expenditures and different prices, financing and extra capital necessities, completion of due diligence, basic financial, market and enterprise situations, new laws, uncertainties ensuing from potential delays or modifications in plans, political uncertainties, and the state of the securities markets typically. Though administration of Outcrop have tried to establish necessary components that might trigger precise outcomes to vary materially from these contained in forward-looking statements or forward-looking info, there could also be different components that trigger outcomes to not be as anticipated, estimated or meant. There might be no assurance that such statements will show to be correct, as precise outcomes and future occasions may differ materially from these anticipated in such statements. Accordingly, readers shouldn’t place undue reliance on forward-looking statements and forward-looking info. Outcrop is not going to replace any forward-looking statements or forward-looking info which can be included by reference herein, besides as required by relevant securities legal guidelines.
