In a news release, Outcrop Gold Corp. (OCG:TSX.V; MRDDF:OTCPK; MRG1:DB) announced "assay results from the first holes drilled in the El Dorado target on its 100% owned Santa Ana project in north Tolima, Colombia."
The company stated that it made a drill discovery in the second hole at El Dorado, which is west of its La Ivana deposit and two kilometers north of the Roberto Tovar discoveries. Outcrop Gold specified that all of these shoots that have been discovered so far are hosted in different veins within the Santa Ana system. The firm noted that currently two drill rigs remain active and that assay results are still outstanding from 13 holes that have already been drilled on the Roberto Tovar and El Dorado targets.
The company reported that during its 2020 drill program it has discovered the fourth high-grade shoot in the El Dorado target and has enjoyed a 100% success rate on the areas targeted. Outcrop noted that in discovery hole SAED20DH52 at El Dorado, it intersected 0.87 meters of 17.7 g/t gold equivalent or 1,293 g/t silver equivalent at a depth of 11 meters from surface.
The firm noted that less than 25% of the Santa Ana project's currently identified vein zones have been drill tested and it expects that additional veins are likely to be identified with continuing exploration.
The company's CEO Joe Hebert remarked, "Outcrop continues to be impressed that all targets drilled to date have produced high-grade shoots...Notably, each shoot reflects a different vein in the Santa Ana system where exploration advancement and drilling will continue."
The company noted that the Santa Ana project is located 190 km from Bogota in northern Tolima Department, Colombia. The property covers greater than 25,000 hectares and consists of five regional scale parallel vein systems across a 12 km wide, 30 km long trend. Outcrop stated that its strategy is to continue to drill and de-risk this Mariquita District high-grade silver project.
The firm indicated that at the core Santa Ana target at least 11 principal vein zones are recognized that together provide up to 14 km of cumulative strike length and that these veins often show both high-grade silver and high-grade gold mineralization.
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