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Drill Results Boast 'Spectacular Grades,' Analyst Says

Source: Stuart McDougall


February 3, 2023 ( Newswire) A single hole drilled at a Colombian mining project yielded silver grades as high as 11,088 g/t and gold grades up to 71.2 g/t, noted a Research Capital Corp. report.

Outcrop Silver & Gold Corp. (OCG:TSX.V; OCGSF:OTCQX; MRG1:DB) encountered the "richest intercept to date" at its Santa Ana gold-silver project in Colombia via hole 317 drilled in the Las Abejas shoot, reported Research Capital Corp. analyst Stuart McDougall in a Jan. 30 research note. The new drill results extend high grades northward along El Dorado, the vein system containing Las Abejas.

Standout Silver Grade: 11,088 G/T

The best intercept of hole 317 returned a silver grade of 11,088 grams per ton (11,088 g/t) and a gold grade of 71.2 g/t over 1.09 meters (1.09m), McDougall reported.

The intercept was located within a shallow interval that also showed 1,836 g/t silver and 5.01 g/t gold in the first 0.61m downhole and 3,703 g/t silver and 22.3 g/t gold in the final 2.05m downhole.

Another "particularly rich intercept" the drill bit hit in hole 317 showed the presence of precious and base metals, noted McDougall. It was 5.28m of 2,719 g/t silver, 16.08 g/t gold, and 2.81% lead-zinc. Similarly, 15m further downhole, 0.47m of 4,336 g/t Ag and 17.96 g/t gold were encountered.

High Grades From Megapozo, Too

New drill data from the Megapozo shoot showed that holes 314 and 315 "essentially filled in a gap," McDougall wrote. Hole 314 returned 1.75m of 584 g/t silver and 2.17 g/t gold. Grades in hole 315 were lower than in hole 314, at 434 g/t silver and 0.82 g/t gold, over 0.81m.

Research Capital estimated Megapozo's undiluted grade potential at about 870 g/t silver and about 10 g/t gold over an average drill width of 0.79m.

Rich El Dorado Vein System

So far, Outcrop has identified two shoots in El Dorado, about 300m apart, Las Abejas and Megapozo, with a possible third, Figueroa, 420m north of Las Abejas, McDougall pointed out. Combining the drill results of all three shoots, Research Capital calculated undiluted grades of about 1,500 g/t silver and about 10 g/t gold over an average drill width of 0.97m.

These grades suggest El Dorado is "among, if not, the richest of the vein systems tested to date," McDougall wrote.

Pattern to Mineralization Emerging

The analyst also pointed out that in a recent drill result announcement, Outcrop indicated the mineralized system at Santa Ana appears to top out at the 750m elevation level.

"Future holes are being designed to test that theory elsewhere in order to make future programs more focused and efficient," McDougall added.

Research Capital has a Speculative Buy rating and a CA$0.75 per share target price on Outcrop, the current share price of which is about CA$0.29.


1) Doresa Banning wrote this article for Streetwise Reports LLC and provides services to Streetwise Reports as an independent contractor. She or members of her household own securities of the following companies mentioned in the article: None. She or members of her household are paid by the following companies mentioned in this article: None.

2) The following companies mentioned in this article are billboard sponsors of Streetwise Reports: Outcrop Silver & Gold Corp. Click here for important disclosures about sponsor fees. The information provided above is for informational purposes only and is not a recommendation to buy or sell any security. As of the date of this article, an affiliate of Streetwise Reports has a consulting relationship with: None. Please click here for more information.

3) Comments and opinions expressed are those of the specific experts and not of Streetwise Reports or its officers. The information provided above is for informational purposes only and is not a recommendation to buy or sell any security.

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5) From time to time, Streetwise Reports LLC and its directors, officers, employees or members of their families, as well as persons interviewed for articles and interviews on the site, may have a long or short position in securities mentioned. Directors, officers, employees or members of their immediate families are prohibited from making purchases and/or sales of those securities in the open market or otherwise from the time of the decision to publish an article until three business days after the publication of the article. The foregoing prohibition does not apply to articles that in substance only restate previously published company releases. As of the date of this article, officers and/or employees of Streetwise Reports LLC (including members of their household) own securities of Outcrop Silver & Gold Corp., a company mentioned in this article.

Disclosures For Research Capital Corp., Outcrop Silver & Gold Corp., January 30, 2023

Analyst Certification: I, Stuart McDougall, certify the views expressed in this report were formed by my review of relevant company data and industry investigation, and accurately reflect my opinion about the investment merits of the securities mentioned in the report. I also certify that my compensation is not related to specific recommendations or views expressed in this report. Research Capital Corporation publishes research and investment recommendations for the use of its clients. Information regarding our categories of recommendations, quarterly summaries of the percentage of our recommendations which fall into each category and our policies regarding the release of our research reports is available at or may be requested by contacting the analyst. Each analyst of Research Capital Corporation whose name appears in this report hereby certifies that (i) the recommendations and opinions expressed in this research report accurately reflect the analyst's personal views and (ii) no part of the research analyst's compensation was or will be directly or indirectly related to the specific conclusions or recommendations expressed in this research report.

General Disclosures: The opinions, estimates and projections contained in all Research Reports published by Research Capital Corporation ("RCC") are those of RCC as of the date of publication and are subject to change without notice. RCC makes every effort to ensure that the contents have been compiled or derived from sources believed to be reliable and that contain information and opinions that are accurate and complete; RCC makes no representation or warranty, express or implied, in respect thereof, takes no responsibility for any errors and omissions which may be contained therein and accepts no liability whatsoever for any loss arising from any use of or reliance on its Research Reports or its contents. Information may be available to RCC that is not contained therein. Research Reports disseminated by RCC are not a solicitation to buy or sell. All securities not available in all jurisdictions.

Company Specific Disclosures: Within the past 12 months, Research Capital has provided investment banking services to the issuer.

Potential Conflicts of Interest: All Research Capital Corporation ("RCC") Analysts are compensated based in part on the overall revenues of RCC, a portion of which are generated by investment banking activities. RCC may have had, or seek to have, an investment banking relationship with companies mentioned in this report. RCC and/or its officers, directors and employees may from time to time acquire, hold or sell securities mentioned in our Research Reports as principal or agent. RCC makes every effort possible to avoid conflicts of interest, however readers should assume that a conflict might exist, and therefore not rely solely on this report when evaluating whether or not to buy or sell the securities of subject companies.

RCC USA: Information about Research Capital Corporation's Rating System, the distribution of our research to clients and the percentage of recommendations which are in each of our rating categories is available on our website at The information contained in this report has been drawn from sources believed to be reliable but its accuracy or completeness is not guaranteed, nor in providing it does Research Capital Corporation assume any responsibility or liability. Research Capital Corporation, its directors, officers and other employees may, from time to time, have positions in the securities mentioned herein. Contents of this report cannot be reproduced in whole or in part without the express permission of Research Capital Corporation. US Institutional Clients - Research Capital USA Inc., a wholly owned subsidiary of Research Capital Corporation, accepts responsibility for the contents of this report subject to the terms and limitations set out above. US firms or institutions receiving this report should effect transactions in securities discussed in the report through Research Capital USA Inc., a Broker - Dealer registered with the Financial Industry Regulatory Authority (FINRA).

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