Silver Co. Expands Drilling Throughout Useful resource Estimate Delay

January 5, 2023 ( Newswire) This firm is figuring out and drilling new targets at its flagship silver venture in Colombia as testing delays its maiden useful resource estimate.

Even because it readies its maiden useful resource estimate for its Santa Ana flagship venture in Colombia, Outcrop Silver & Gold Corp. (OCG:TSX.V; OCGSF:OTCQX; MRG1:DB) remains to be figuring out new drill targets and releasing outcomes from exploration during the last yr.

The estimate was anticipated on the finish of 2022 however has been delayed till Q1 2023 as further high-level qualification exams are accomplished, and Outcrop continues to discover a few of the website’s high-grade shoots and increase the useful resource.

One skilled mentioned the corporate’s prediction of between 45 and 55 million ounces silver equal (Moz Ag eq) from the location would already characterize an excellent grade and scale because the silver world braces for a requirement squeeze for silver from the approaching inexperienced economic system.

“Potential is one factor,” Gwen Preston wrote in The Maven Letter. “Potential within the palms of a group that has demonstrated the power to show that into high quality (ounces) is one other. Outcrop actually represents the latter … I feel Outcrop has demonstrated a stable grasp of how mineralization is developed at Santa Ana. I feel that understanding bodes nicely for additional discovery so as to add what will probably be a robust preliminary useful resource.”

Outcrop remains to be drilling on the website and simply added a 3rd rig, Chief Government Officer Joseph Hebert informed Streetwise Studies.

The corporate has added 9 precedence drilling targets and is advancing a number of extra areas. “We have barely scratched the floor,” he mentioned.

The corporate launched assay outcomes final week from two extra holes within the Las Maras shoot. Gap DH308 intercepted 0.9 meters true thickness of 767 grams per tonne (g/t) Ag eq. Holes DH308 and DH306 prolong Las Maras’ high-grade mineralization at depth and to the south, Outcrop mentioned.

Twenty-seven drill holes have been drilled in Las Maras thus far, the corporate mentioned. Seventeen have returned high-grade assays, together with 2.1 meters of two,034 g/t Ag eq and 5.9 meters of 1,697 g/t Ag eq. Latest drilling focused step-down intercepts from gap DH290. Las Maras stays open at depth.

The Catalysts: Silver and Photo voltaic

Because the world steps nearer to inexperienced vitality, silver will turn into a a lot sought-after commodity as photo voltaic vitality know-how requires giant quantities of it.

The Silver Institute predicted that world silver demand would attain a brand new excessive of 1.21 billion ounces in 2022, up 16% from 2021. Industrial demand is on the right track to develop to 539 Moz.

“Developments akin to ongoing automobile electrification (regardless of sluggish automobile gross sales), rising adoption of 5G applied sciences, and authorities commitments to inexperienced infrastructure could have industrial demand overcome macro-economic headwinds and weaker client electronics demand,” the report mentioned.

The worldwide silver market is forecasted to report a second consecutive deficit between provide and demand this yr, the Institute mentioned. At 194 Moz, it is going to be a multi-decade excessive and 4 occasions 2021’s degree.

Chen Lin, an asset supervisor and creator of the What’s Chen Shopping for? What’s Chen Promoting? E-newsletter mentioned demand will “create a silver tsunami.”

“Photo voltaic panel manufacturing will see explosive development for many years to come back,” Chen wrote in a latest essay to his readers on silver. “We’re solely firstly of the key sea change of future vitality. That is similar to electrical automobiles, for instance. As soon as the know-how matures, explosive development follows.”

Inventory Has Room to Develop, Knowledgeable Says

Outcrop has drilled greater than 50,000 meters in additional than 300 holes at Santa Ana. The corporate final yr introduced it had discovered a number of high-grade outcomes by way of underground mapping and sampling of the historic Frias Mine on the location, together with a pattern of 10,216 grams per tonne silver (g/t Ag), 12.49% lead, and 19.15% zinc.

One channel pattern, RX6225, returned greater than 4,576 g/t Ag, 9.62% lead, and three.29% zinc over 0.9 meters.

Santa Ana, mined again to at the least 1585, was as soon as the most important colonial silver mine in Colombia. It now covers 36,000 hectares. Spanish Royal Archives reviews mentioned the realm had 14 mines producing a median of 4,000 g/t Ag over a median of 1.4 meters, with some mines discovering as a lot as 17,000 g/t Ag.

The Frias Mine produced 7.8 Moz Ag at 1.3 kilograms Ag per tonne recovered grade. The outcomes from Frias are vital as a result of the make-up of the Frias formation is an effective analog for the Santa Ana venture as a complete, Hebert mentioned.

This week, Analysis Capital Corp.’s Stuart McDougall reiterated his Speculative Purchase score with a goal of CA$0.75 per share on the energy of drilling outcomes, new high-grade targets, and the 50 Moz Ag eq estimated useful resource.

E-newsletter author Preston mentioned she thinks the upcoming useful resource estimate will stand out to traders. And whereas the corporate has taken its share of hits as a consequence of turbulent currents within the markets and the latest election of Colombia’s first leftist authorities, the inventory has room to develop from right here.

“I feel the double whammy of silver (costs) and Colombia has already left Outcrop extra beat up than most, which I feel lessens the draw back threat from right here,” Preston wrote.

Possession and Share Construction


Mining financier Eric Sprott owns about 14% of Outcrop, administration and administrators personal about 12%, and the remainder is held by high-net-worth traders and retail, the corporate mentioned.

The corporate is adopted by Analysis Capital Corp.’s Stuart McDougall wrote and Gwen Preston of The Maven Letter. Click on “See Extra Dwell Information” within the knowledge field above to learn extra.

Outcrop has a market cap of CA$69.1 million with 194.7 million shares excellent and 144.6 million of them free-floating. It trades in a 52-week vary of CA$0.43 and CA$0.10.


1) Steve Sobek wrote this text for Streetwise Studies LLC. He or members of his family personal securities of the next firms talked about within the article: None. He or members of his family are paid by the next firms talked about on this article: None.

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