OUTCROP SILVER REPORTS EXCEPTIONAL SENSOR-BASED ORE SORTING RESULTS FROM LA PORFIA VEIN AT SANTA ANA
"These exceptional sorting results—achieving a 20 % grade lift, 17 % waste rejection and up to 99.2 % silver and 99.7 % gold recoveries despite processing lower-grade La Porfía material—highlight Santa Ana's amenability to modern, low-impact processing technologies," commented Ian Harris, President & CEO. "This test underlines our opportunity to shrink the project footprint, lower costs and bolster environmental performance. None of this is possible without the dedication of our on-site teams and the strong partnership with local communities—together carrying a 400-year silver-mining legacy forward and delivering superior value for our shareholders and the next generation."
Table 1. Summary results from Sensor-based ore sorting tests applied to mineralized material from the La Porfia vein (Coarse fraction from 25 to 75 mm).
Sensor-based ore sorting was applied to mineralized material from the La Porfia vein, part of the high-grade silver-gold epithermal system at the Santa Ana Project, to assess its suitability as a pre-concentration method. The objective was to evaluate the potential for early waste rejection and feed grade enhancement using advanced particle discrimination technologies.
Approximately 390 kg of material was prepared and delivered to Steinert Latinoamericana in Belo Horizonte, Brazil, consisting of 300 kg of mineralized rock and 90 kilograms of barren waste rock, collected from underground old workings in La Porfia. A sample of approximately 250 kilograms was then separated from this material. Then, this 250 kg sample was prepared into two different size fractions, resulting in approximately 200 kg of material ranging from 25 to 75 mm in size and around 50 kilograms of material ranging from 12 to 25 mm in size.
The sorting was performed using a STEINERT KSS CLI XT unit, which combined X-ray Transmission (XRT) to detect atomic density (ideal for distinguishing silver-rich sulfide mineralization), 3D Laser Profiling for shape recognition and positioning. Additionally, RGB and Inductive sensors were also tested but played secondary roles.
1 Silver Equivalent
Metal prices used for equivalent calculations were US$1,800/oz for gold, and US$25/oz for silver. Metallurgical recoveries based on Outcrop Silver's metallurgical test work are 97% for gold and 93% for silver (see news release dated August 23, 2023). The equivalency formula is as follows:
Assays
The resulting sample fractions were sent for assaying to SGS-Geosol in Vespasiano, Minas Gerais, Brazil. The laboratory analytical codes used for Ag assays were GE_ICP40Q and ICP40B_S with multi-acid digestion in both cases. The Au assays were determined by 50 grams fire-assaying with code FAA505.
Qualified Person
Edwin Naranjo Sierra is the designated Qualified Person within the meaning of the National Instrument 43-101 and has reviewed and approved the technical information in this news release. Mr. Naranjo holds a MSc. in Earth Sciences, and is a Fellow of the Australasian Institute of Mining and Metallurgy (FAusIMM). Mr. Naranjo Sierra is a consultant to the Company and is therefore independent for the purposes of NI 43-101.
About Santa Ana
The 100% owned Santa Ana project covers 27,000 hectares within the Mariquita District, through titles and applications, known 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 equivalent 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. The identified resources span seven major vein systems that include multiple parallel veins and ore 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 drilling campaign aims to extend known mineralization and test new high-potential areas along the permitted section of the project's extensive 30 kilometres of mineralized trend. This year's exploration strategy aims to demonstrate a clear pathway to substantially expand the resource. These efforts underscore the scalability of Santa Ana and its potential for substantial resource growth, positioning the project to develop into a high-grade, economically viable, and environmentally responsible silver mine.
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 to enhance shareholder value. With a deep understanding of the Colombian mining landscape and a track record of successful exploration, Outcrop Silver is poised to transform the Santa Ana project into a significant silver producer, contributing positively to the local economy and setting new standards in the mining industry.
ON BEHALF OF THE BOARD OF DIRECTORS
Neither the TSX Venture Exchange nor its Regulation Services Provider (as such term is defined in the policies of the TSX Venture Exchange) 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 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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