Drilling of northern extension intercepts 0.80 m (ETW) of 1,405 g/t AgEq (1,140 g/t Ag & 3.0 g/t Au), including 0.23 m of 2,820 g/t AgEq (2,264 g/t Ag & 6.3 g/t Au)
VANCOUVER, BC, June 3, 2026 /CNW/ - Outcrop Silver & Gold Corporation (TSX: OCG) (OTCQX: OCGSF) (DE: MRG) ("Outcrop Silver") is pleased to announce assay results from recent drilling results at the Aguilar target, further improving the geological understanding of one of the most advanced vein systems within the Company's Santa Ana Project in Colombia.
Figure 1. Plan view of the Aguilar target showing the drill holes reported in this release (Table 1). Coordinates are in the UTM system, zone 18N, and WGS84 projection. (CNW Group/Outcrop Silver & Gold Corporation)
Figure 2. Longitudinal section from the Aguilar vein showing the drilling pierce points. The contours represent the interpolation of grade (AgEq g/t) multiplied by estimated true width (metres) using the Spline algorithm in QGIS. Pierce points and channel samples show grade as AgEq g/t. (CNW Group/Outcrop Silver & Gold Corporation)
Figure 3. Geological cross-section A, B and C showing the Aguilar vein system. (CNW Group/Outcrop Silver & Gold Corporation)
Figure 3. Geological cross-section A, B and C showing the Aguilar vein system. (CNW Group/Outcrop Silver & Gold Corporation)
Figure 3. Geological cross-section A, B and C showing the Aguilar vein system. (CNW Group/Outcrop Silver & Gold Corporation)
Drilling confirmed the continuity of both the principal Aguilar and Aguilar N structures and returned high-grade intercepts from two additional mineralized structures, Aguilar NEW and Aguilar NEE, in the northern sector of the target. Locally mineralized splay structures were also intersected during drilling, providing additional information on the structural controls on silver mineralization. Drilling completed in the southern extension successfully confirmed the continuity of the principal Aguilar structure, although no significant mineralized intercepts were returned from the step-out holes.
Highlights
Aguilar NEW returned multiple high-grade intercepts, including 0.60 metres ("m") estimated true width ("ETW") grading 1,660 g/t silver-equivalent1 ("AgEq") in DH621,0.80 m ETW grading 1,405 g/t AgEq in DH604, and 0.76 m ETW grading 1,157 g/t AgEq in DH568.
Aguilar N returned high-grade intercepts including 0.49 m ETW grading 1,374 g/t AgEq in DH596 and 1.27 m ETW grading 716 g/t AgEq in DH592, supporting continuity of mineralization along the northern sector of the target.
Drilling intersected several mineralized secondary structures and splays, providing additional information on the structural controls of silver mineralization within the Aguilar system.
Step-out drilling in the southern extension confirmed the continuity of the principal Aguilar structure, although no significant mineralized intercepts were returned.
"These results continue to strengthen our confidence in the scale and continuity of the Aguilar system", commented Rob Bruggeman, President and CEO. "Aguilar NEW and Aguilar NEE appear to represent newly recognized vein structures that warrant continued follow-up exploration and, as commonly observed in district-scale vein systems, could potentially support the delineation of additional mineral resource blocks in the future, particularly within these blind mineralized zones. The Aguilar vein system has now been drilled for 1.6 km along strike and has identified additional mineralized structures in the northern part of the target. The development of Aguilar NEW and Aguilar NEE, together with multiple mineralized secondary structures, highlights the growing structural footprint of Aguilar and further supports its importance within the Santa Ana district."
Hole ID
From (m)
To (m)
Interval
(m)
Estimated True
Width (m)
Ag (g/t)
Au (g/t)
AgEq1 (g/t)
Vein
DH568
46.55
47.8
1.25
0.76
905
2.85
1157
Aguilar NEW
Including
46.99
47.42
0.43
0.26
2608
8.16
3328
Aguilar NEW
and
142.82
144.27
1.45
0.85
345
0.79
414
Aguilar N
Including
142.82
143.12
0.30
0.18
1370
2.88
1624
Aguilar N
DH569
Weakly Mineralized
Aguilar
DH572
Weakly Mineralized
Aguilar
DH574
140.08
140.41
0.33
0.29
158
0.42
195
Splay
and
161
161.3
0.30
0.28
Weakly Mineralized
Aguilar N
and
227.58
227.9
0.32
0.28
577
3.20
859
Splay
and
239.29
240.89
1.60
1.47
321
1.58
461
Aguilar
DH576
211.17
211.8
0.63
0.53
91
1.99
266
Aguilar
DH578
Weakly Mineralized
Aguilar
DH579
Weakly Mineralized
Aguilar
DH581
73.05
73.38
0.33
0.19
345
0.75
412
Aguilar NEW
and
226.17
227.18
1.01
0.70
219
1.58
359
Aguilar N
and
249.73
250.03
0.30
0.21
124
0.82
196
Splay
and
266.76
267.16
0.40
0.36
284
2.52
507
Splay
and
277.51
278.12
0.61
0.49
288
3.55
601
Aguilar
DH582
Weakly Mineralized
Aguilar
DH584
Weakly Mineralized
Aguilar
DH586
80.09
80.52
0.43
0.32
Weakly Mineralized
Aguilar NEW
and
221.95
222.95
1.00
0.51
514
6.74
1109
Splay
Including
222.25
222.61
0.36
0.18
1424
18.69
3073
Splay
DH592
56.6
56.98
0.38
0.23
Weakly Mineralized
Aguilar NEW
and
168.86
171.25
2.39
1.27
497
2.48
716
Aguilar N
Including
170.77
171.25
0.48
0.26
1400
5.38
1875
Aguilar N
and
224.61
225.05
0.44
0.27
Weakly Mineralized
Aguilar
DH596
60.6
62.7
2.10
0.86
302
1.31
417
Aguilar NEW
Including
61.23
61.7
0.47
0.19
1336
5.81
1849
Aguilar NEW
and
180.82
182
1.18
0.49
845
5.99
1374
Aguilar N
Including
180.82
181.19
0.37
0.15
2080
15.82
3476
Aguilar N
DH602
14.4
15.38
0.98
0.32
253
1.06
346
Splay
and
56.35
57.75
1.40
0.44
507
2.31
710
Aguilar NEW
Including
56.86
57.45
0.59
0.19
1190
5.02
1633
Aguilar NEW
and
63.4
64.7
1.30
0.40
205
1.00
293
Splay
and
188.03
188.86
0.83
0.30
235
2.14
423
Splay
DH604
40.72
41.78
1.06
0.80
1140
3.00
1405
Aguilar NEW
Including
41.12
41.43
0.31
0.23
2264
6.31
2820
Aguilar NEW
DH608
52.98
53.35
0.37
0.27
1008
3.62
1328
Aguilar NEE
and
117.11
118.13
1.02
0.58
373
1.41
498
Aguilar NEW
Including
52.98
53.35
0.37
0.21
1008
3.62
1328
Aguilar NEW
and
289
289.45
0.45
0.18
168
0.47
209
Splay
DH610
93.82
94.36
0.54
0.37
122
0.72
185
Aguilar NEW
and
240.26
240.56
0.30
0.18
701
1.61
843
Aguilar N
DH614
Weakly Mineralized
Aguilar NEE
DH618
40.94
41.31
0.37
0.25
300
1.24
409
Splay
and
88.32
88.99
0.67
0.40
767
5.02
1210
Aguilar NEW
and
200.42
202.38
1.96
1.04
200
0.91
281
Aguilar N
DH621
88.21
89.15
0.94
0.60
1105
6.29
1660
Aguilar NEW
Including
88.21
88.53
0.32
0.20
1487
8.16
2207
Aguilar NEW
and
192.08
192.7
0.62
0.33
240
1.50
372
Aguilar N
DH623
Weakly Mineralized
Aguilar NEW
DH626
81.35
81.83
0.48
0.46
424
2.06
605
Aguilar NEW
and
151.86
152.53
0.67
0.61
248
0.66
306
Splay
Table 1. Drill hole assay results reported in this release. Weakly Mineralized means intercepts below 100 g/t AgEq1
Recent drilling at Aguilar was primarily focused on the northern sector of the target, near the interpreted junction with the Jiménez trend. The new drilling continues to improve the understanding of the structural architecture of the system. In addition to confirming the continuity of the principal Aguilar and Aguilar N structures, drilling intersected multiple mineralized intervals within the newly recognized Aguilar NEW and Aguilar NEE structures, both of which have now been confirmed by several drill holes.
With the incorporation of these new drill results, the principal Aguilar structure has now been traced continuously for approximately 1.6 kilometres along strike. The results further support the interpretation of Aguilar as a multi-vein mineralized system and demonstrate continuity over one of the longest mineralized trends currently defined within the Santa Ana Project. Drilling completed in the southern extension successfully confirmed the continuity of the principal Aguilar structure, although no significant mineralized intercepts were returned from the step-out holes. These intercepts will be incorporated into the Company's geological interpretations and the next mineral resource estimate update, which is currently underway.
The Aguilar target continues to rank among the most important mineralized systems identified within the Santa Ana Project. Recent drilling has strengthened confidence in the continuity of the principal structures while highlighting the emergence of additional mineralized zones that contribute to the evolving understanding of the district-scale structural framework. The results will be incorporated into ongoing geological modelling and resource evaluation programs as Outcrop continues to advance the Santa Ana Project.
Hole ID
Hole Code
Easting (m)
Northing (m)
Elevation (m)
Depth (m)
Azimuth (º)
Dip (º)
DH568
SAAG26DH568
504024.993
561574.989
919.185
233.17
98
-72
DH569
SAAG26DH569
503255.208
560758.077
1062.332
100.27
120
-50
DH572
SAAG26DH572
503188.094
560860.326
1055.752
185.01
143
-50
DH574
SAAG26DH574
503885.182
561526.080
934.490
258.16
142
-54
DH576
SAAG26DH576
503189.564
560859.826
1055.617
232.56
183
-56
DH578
SAAG26DH578
503136.010
560756.844
1061.980
165.99
155
-45
DH579
SAAG26DH579
502993.475
560562.575
1102.678
300.03
130
-53
DH581
SAAG26DH581
503885.023
561526.283
934.287
294.15
142
-69
DH582
SAAG26DH582
503134.929
560756.828
1061.991
199.94
182
-45
DH585
SAAG26DH585
503150.067
560513.602
1115.596
215.58
140
-62
DH586
SAAG26DH586
503885.276
561526.975
934.344
325.52
110
-77
DH589
SAAG26DH589
503148.047
560516.946
1116.575
170.99
200
-68
DH591
SAAG26DH591
502992.978
560562.710
1102.870
262.03
150
-52
DH592
SAAG26DH592
504024.993
561574.989
919.185
236.17
73
-60
DH594
SAAG26DH594
502994.041
560563.905
1103.124
282.61
167
-54
DH596
SAAG26DH596
504025.498
561576.018
918.983
263.65
59
-75
DH597
SAAG26DH597
502994.126
560564.292
1102.741
291.99
133
-66
DH602
SAAG26DH602
504025.174
561575.871
919.088
300.85
0
-90
DH603
SAAG26DH603
502815.680
560406.745
1077.315
302.39
146
-45
DH604
SAAG26DH604
504024.780
561575.020
919.504
171.29
196
-74
DH606
SAAG26DH606
502815.605
560406.790
1077.043
224.8
146
-59
DH608
SAAG26DH608
504041.910
561623.303
899.220
300.83
59
-54
DH610
SAAG26DH610
504041.968
561623.255
898.841
255.42
62
-83
DH611
SAAG26DH611
502815.605
560406.967
1077.413
170.26
146
-78
DH614
SAAG26DH614
504041.761
561623.258
898.988
252.06
58
-70
DH615
SAAG26DH615
502813.641
560375.121
1069.424
205.09
164
-55
DH617
SAAG26DH617
502644.136
560386.055
1102.808
305.98
143
-45
DH618
SAAG26DH618
504042.206
561622.730
898.908
215.18
72
-60
DH621
SAAG26DH621
504042.108
561622.555
899.082
215.49
76
-75
DH622
SAAG26DH622
502644.025
560385.120
1102.805
305.53
158
-45
DH623
SAAG26DH623
503903.619
561554.185
938.953
131.36
83
-52
DH626
SAAG26DH626
503899.760
561553.880
939.100
179.56
136
-49
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
Qualified Person
The technical information presented in this news release has been reviewed and approved by Carlos Torres, P.Geo., Vice President of Exploration for Outcrop Silver and the Qualified Person for exploration at the Santa Ana Project, as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects.
1Silver Equivalent
Metal prices used for equivalent calculations were US$2,760/oz for gold, and US$32/oz for silver. Metallurgical recoveries based on Outcrop Silver's metallurgical test work are 98.5% for gold and 96.3% for silver (see news release dated June 25, 2024). The equivalency formula is as follows:
QA/QC
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 indicates acceptable assay accuracy and no detectable contamination. No material QA/QC issues have been identified with respect to sample collection, security, and assaying. The samples are analyzed for gold and silver using a standard fire assay on a 30-gram sample with a gravimetric finish for over-limits. Multi-element geochemistry was determined by ICP-MS using either aqua regia or four acid digestions. Crush rejects, pulps, and the remaining core are stored in a secured facility at Santa Ana for future assay verification.
About Santa Ana
The 100% owned Santa Ana project spans over 28,000 hectares within the Mariquita District, encompassing both titles and applications, and is recognized as the largest and highest-grade primary silver district in Colombia, with mining records dating back to 1585.
Santa Ana's maiden resource estimate, detailed in the NI 43-101 Technical Report titled "Santa Ana Property Mineral Resource Estimate," dated June 8, 2023, prepared by AMC Mining Consultants, indicates an estimated indicated resource of 1,226 thousand tonnes containing 24.2 million ounces silver equivalent1 at a grade of 614 grams per tonne and an inferred resource of 966 thousand tonnes containing 13.5 million ounces at a grade of 435 grams per tonne of silver equivalent1. The identified resources span seven major vein systems that include multiple parallel veins and mineralized shoots: Santa Ana (San Antonio, Roberto Tovar, San Juan shoots); La Porfia (La Ivana); El Dorado (El Dorado, La Abeja shoots); Paraiso (Megapozo); Las Maras; Los Naranjos, and La Isabela.
The current drill campaign has extended known mineralization and tested additional target areas within the 17-kilometre-long fully permitted mineralized corridor at the Santa Ana Project. Since the start of the current campaign, drilling has confirmed mineralization in six vein systems--Aguilar, Jimenez, La Ye, Los Mangos, Guadual, and Morena--through a combination of step-out, testing, and delineation drilling. The results from these programs are being incorporated into updated geological interpretations and three-dimensional models. They will support ongoing drilling activities and the preparation of the next mineral resource update.
About Outcrop Silver
Outcrop Silver is a leading explorer and developer focused on advancing its flagship Santa Ana high-grade silver project in Colombia. Leveraging a disciplined and seasoned team of professionals with decades of experience in the region. Outcrop Silver is dedicated to expanding current mineral resources through strategic exploration initiatives.
At the core of our operations is a commitment to responsible mining practices and community engagement, underscoring our approach to sustainable development. Our expertise in navigating complex geological and market conditions enables us to consistently identify and capitalize on opportunities that enhance shareholder value. With a deep understanding of the Colombian mining landscape and a proven track record of successful exploration, Outcrop Silver is well-positioned to transform the Santa Ana project into a significant silver producer, making a positive contribution to the local economy and setting new standards in the mining industry.
Neither the TSX nor its Regulation Services Provider (as such term is defined in the policies of the TSX) accepts responsibility for the adequacy or accuracy of this release.
Certain information contained herein constitutes "forward-looking information" under Canadian securities legislation. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "potential," "we believe," or variations of such words and phrases or statements that certain actions, events or results "will" occur. Forward-looking statements are based on the opinions and estimates of management as of the date such statements are made and they are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Outcrop Silver to be materially different from those expressed or implied by such forward-looking statements or forward-looking information, including: the timing and progress of the next mineral resource estimate update, the outcome of geological modelling and resource evaluation programs, the receipt of all necessary regulatory approvals, capital expenditures and other costs, financing and additional capital requirements, completion of due diligence, general economic, market and business conditions, new legislation, uncertainties resulting from potential delays or changes in plans, political uncertainties, and the state of the securities markets generally. Although management of Outcrop Silver have attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. Outcrop Silver will not update any forward-looking statements or forward-looking information that are incorporated by reference.
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