Outcrop Silver Intercepts 7.18 Meters Grading 358 g/t Silver Equivalent at Los Mangos

Outcrop Silver & Gold Corporation (TSXV: OCG) (OTCQX: OCGSF) (DE: MRG) has announced assay results from drill hole DH451 at the Los Mangos discovery within its 100% owned Santa Ana high-grade silver project in Colombia.

According to the company’s announcement on April 1, 2025, drill hole DH451 intercepted 7.18 meters grading 358 grams per ton of silver equivalent (AgEq), including a higher-grade section of 3.40 meters grading 671 g/t AgEq. Outcrop Silver stated that this intercept is one of the most significant encountered in the Los Mangos area.

Additionally, at a depth of 110 meters, the same drill hole intercepted 0.53 meters grading 617 g/t AgEq at the Mangos fault. Outcrop Silver suggests this indicates the potential for fault-related structures within the vein system to host high-grade mineralization. The vein intercept, located approximately 200 meters below the surface, reportedly confirms the vertical continuity of the vein system.

Figure 1 of the company’s announcement shows a plan view of the Los Mangos vein target with drill holes and surface exploration samples. Hole DH447 reportedly intercepted a vein with no significant results (defined as an intercept lower than 200 g/t AgEq), while hole DH449 encountered a void. Figure 2 displays geological cross-sections of the Los Mangos vein system. Figure 3 shows a geological map of the El 20 historic underground mine at the Los Mangos vein target.

Figure 2. Geological cross-sections showing the Los Mangos vein system. The section width is 75 meters. Hole DH447 intercepted a vein with No Significant Results, while hole DH449 encountered a void. No Significant Result means an intercept lower than 200 g/t AgEq. (CNW Group/Outcrop Silver & Gold Corporation)

The silver equivalency formula used by Outcrop Silver incorporates metal prices of $1,800 USD per ounce for gold and $25 USD per ounce for silver, with metallurgical recoveries of 97% for gold and 93% for silver based on the company’s test work. The formula provided is: AgEq g/t = Ag g/t + (Au g/t * Au price per gram * Au recovery) / (Ag price per gram * Ag recovery).

Key drilling highlights from the announcement include:

• Hole DH451 intercepted 7.18 meters grading 358 g/t AgEq, including 3.40 meters of 671 g/t AgEq.
• Hole DH451 also intercepted 0.53 meters grading 617 g/t AgEq at the Mangos fault-vein.
• The vein intercept at Los Mangos reportedly confirms the presence of mineralization at 200 meters depth below historical mine workings.

Guillermo Hernandez, Vice President of Exploration at Outcrop Silver, stated in the release, “The results from hole DH451 are a breakthrough for our exploration in the central region of the Santa Ana project. Intersecting 7.18 meters at 358 grams per ton silver equivalent, including 3.40 meters at 671 grams, confirms the scale and the strength of the Los Mangos vein system. Hitting this kind of mineralization over 8 kilometers from the nearest resource area opens a new frontier for discovery.”

The Los Mangos vein is described as a high-grade silver-gold system situated in the southwestern part of the Santa Ana project, approximately 8 kilometers south of the nearest defined resource area. Outcrop Silver notes that this drilling represents a significant step-out within the project, with the vein currently having a verified strike length of over 350 meters.

The vein structure is reported to be oriented between NE40° and NE60°, dipping from 60° to 80°SE, with localized northwest-dipping segments. The main mineralized zone typically ranges from 0.30 to 1.20 meters in width, with recent drilling indicating broader intercepts, such as the 7.18 meters in hole DH451 and 2.36 meters at 404 g/t AgEq in hole DH442. The host rock is identified as green schists and intrusive dikes of granodioritic to dioritic composition, with argillic and sericitic alteration in the surrounding areas, particularly around the historical El 20 underground workings. Mineralization is associated with quartz veins, breccias, and fault-related structures.

To date, Outcrop Silver reports that fourteen holes have been drilled at the Los Mangos target, totaling 2,608 meters, with five holes yielding significant results (grades > 200 g/t AgEq) with an average length of 1.69 meters (not estimated true width). The majority of drill holes (12) have intersected the Los Mangos and Mangos SE veins, while holes DH434 and DH449 encountered a void or potential backfill in historical workings.

Outcrop Silver employs standard protocols for sampling and assaying, including core sawing, sampling, and tagging. Samples are shipped to Actlabs in Medellín, Colombia, an accredited independent laboratory, for assaying. Quality assurance/quality control measures include the insertion of blanks, duplicates, and certified reference materials.

The Santa Ana project covers 27,000 hectares in the Mariquita District of Colombia. According to the company, this district is known as the largest and highest-grade primary silver district in Colombia, with mining records dating back to 1585.

Outcrop Silver’s maiden resource estimate, detailed in an NI 43-101 technical report dated June 8, 2023, indicates an estimated indicated resource of 24.2 million ounces of silver equivalent at a grade of 614 g/t and an inferred resource of 13.5 million ounces at a grade of 435 g/t. The identified resources span seven major vein systems.

Outcrop Silver states that its current drilling campaign aims to expand known mineralization and explore new high-potential areas along the project’s 30-kilometer mineralized trend to substantially increase the resource.

Photo credit: Outcrop Silver.