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Yahoo
20-05-2025
- Business
- Yahoo
COPPER GIANT OUTLINES EXPANSION UPSIDE WITH A 977 TO 1,247 MILLION TONNE CONCEPTUAL EXPLORATION TARGET RANGING 0.49 - 0.55% COPPER EQUIVALENT (0.31 - 0.36% CU AND 0.035 - 0.039% MO) AT THE MOCOA DEPOSIT
VANCOUVER, BC, May 20, 2025 /CNW/ - Copper Giant Resources Corp. ("Copper Giant" or the "Company") (TSXV: CGNT) (OTCQB: LBCMF) (FRA: 29H0) is pleased to announce a preliminary conceptual exploration target (the "Exploration Target") at its Mocoa copper-molybdenum project in Putumayo, Colombia (the "Mocoa Project"). Developed in collaboration with APEX Geoscience Ltd. ("APEX"), the Exploration Target outlines the potential to significantly expand the mineralized envelope beyond the limits of the Current (2021) Mineral Resource Estimate1. An integrated reinterpretation of drilling, geophysical and geochemical data shows that Mocoa meets every hallmark of a tier-one porphyry system, reinforcing its district-scale growth potential and guiding the next phase of resource-expansion drilling. Working with APEX, Copper Giant has outlined a conceptual Exploration Target for material lying outside the Current (2021) Mineral Resource Estimate1; highlights include: Target size: 977 – 1,247 million tonnes Target grade: 0.49 – 0.55 CuEq (0.31 – 0.36% Cu and 0.035 – 0.039% Mo) The Exploration Target is based on all drilling to date at the project and is exclusive of, and represents the exploration upside of, the area surrounding and outside of the Current (2021) Mineral Resource Estimate. The quantity and grade of the Exploration Target mineralized material are conceptual in nature, as there has not been sufficient exploration and drilling to define a mineral resource, and it is uncertain whether exploration will result in the target being delineated as a mineral resource. The defined Exploration Target should not be misrepresented or misconstrued as an estimate of a mineral resource or mineral reserve. The Exploration Target Model has not been evaluated for reasonable prospects of eventual economic extraction (RPEEE). Ian Harris, President & CEO commented: "Every round of drilling deepens our conviction that we're only touching the tail of the elephant at Mocoa. This new Exploration Target, prepared in collaboration with APEX Geoscience, shows the potential to double—almost triple—the existing resource, and we're still focused just on the area surrounding current drilling. It ticks all the boxes of a major porphyry system: scale, continuity, and multi-phase enrichment. Most importantly, it gives us a clear, data-driven roadmap for aggressive resource expansion. In accordance with the requirements of National Instrument 43-101 - Standards of Disclosure for Mineral Projects ("NI 43-101"), Copper Giant has established the Exploration Target for the Mocoa Project. The target ranges from approximately 977 to 1,247 million tonnes of mineralized material, grading between 0.31 and 0.36% Cu and 0.035 and 0.039% Mo. These figures are conceptual in nature and based on limited drilling and geological modeling. There has not been sufficient exploration to define a current mineral resource, and it remains uncertain whether further work will lead to the delineation of a mineral resource. The Exploration Target has not yet been assessed for RPEEE. A new NI 43-101 technical report is being completed by Mr. Michael Dufresne (MSc, President and CEO of APEX, an independent Qualified Person as defined by NI 43-101. The technical report will include details on the Exploration Target. Cut-off (% CuEq*) Million tonnes Cu (%) Mo (%) CuEq* (%) 0.20 1,247 0.31 0.035 0.49 0.25 1,114 0.33 0.037 0.52 0.30 977 0.36 0.039 0.55 Table 1 – Exploration Target for the Mocoa Project. The potential quantity and grade of the Exploration Target is conceptual in nature, and there has not been sufficient exploration and drilling to define a mineral resource, and it is uncertain if further exploration will result in the target being delineated as a mineral resource. The Exploration Target Model has not been evaluated for RPEEE. *Copper equivalent (CuEq) for the Exploration Target is calculated as: CuEq (%) = Cu (%) + 5.0 × Mo (%), utilizing metal prices of Cu - US$4.20/lb and Mo - US$25.00/lb and metal recoveries of 90% Cu and 75% Mo. The Exploration Target used a modern 3D-geological model provided by Company geologists for the Mocoa Project, which was derived from 46 drillholes yielding a total of 29,748 metres. The drillhole database contains a full-set of 17,040 sample intervals with complete multi-element geochemical results. The Exploration Target was developed using both copper and molybdenum assay results from previous and Copper Giant's most recent drilling. Mineralization trends were evaluated visually to generate a trend model, which informed the construction of grade shells. These grade shells were used to estimate the distribution of mineralized tonnes and grade to support the generation of grade-tonnage curves. The Exploration Target will be utilized to guide future drilling in these areas of known mineralization. Over the Exploration Target there are a total of 31 drillholes (Ingeominas-United Nations) yielding a total of 18,307 meters, and 15 modern (B2gold and Copper Giant) drillholes yielding a total of 11,441 meters in the drillhole database. The drillhole database contains a total of 17,040 sample interval entries. A total of 5,626 sample intervals are contained within the mineralization domains utilized for the Exploration Target New Geological Interpretation Highlights Mocoa's District-Scale Potential Over the past six months, Copper Giant's technical team has completed a comprehensive re-interpretation of the robust geological, geochemical, and geophysical datasets from the Mocoa Project. This effort also incorporates results from the most recent drill holes: MD–043 (refer to news release dated April 26, 2022) MD–044 (refer to news release dated January 6, 2025), MD–045 (refer to news release dated February 26, 2025) and MD–046 (refer to news release dated May 6, 2025), which collectively cover a ~1 × 1 kilometer area. The updated interpretation confirms that the Mocoa Project exhibits the hallmark features of the world's largest porphyry copper systems, underscoring its potential as a district-scale discovery. Key observations include: Tectonic setting – Mocoa lies in the Andean cordillera, a prime jurisdiction for large tier-one porphyry deposits. Mocoa is part of the Jurassic porphyry belt of the Andean magmatic arc, part of the same compressional belt that hosts Mirador*, Warintza*, San Carlos*, and Panantza*, all located in Ecuador. Extended fertile period* – U-Pb zircon and Re-Os molybdenite geochronology reveal a prolonged magmatic-hydrothermal window of approximately 10 million years (182–172 Ma), allowing sustained metal circulation and overprinting. Multiphase intrusions – The presence of early-, inter-, and late-mineral porphyries, as well as mineralized breccias, reflects a dynamic, long-lived system with repeated episodes of metal input and fluid flow. Fertile magma chemistry – Whole-rock geochemistry confirms a calc-alkaline, hydrous, and oxidized magma source with elevated Sr/Y ratios, typical of fertile porphyry systems. Large alteration footprint – Surface mapping and magnetic data (refer to news release dated May 3, 2022) define a 6 × 5 km demagnetized zone (~30 km²) with classic concentric potassic, phyllic, and propylitic zonation based on the alteration modelling. High stockwork density and metal zoning – Core logging reveals ≥3% quartz-vein stockwork densities related to the high-grade zones. Modelled geochemical patterns show molybdenum enrichment near surface and lung-shaped surrounding the high-grade copper shell. Volume, vertical extent, and openness – Based on recent drilling, the Mocoa porphyry system has been defined over a strike length of approximately 2.5 kilometres, with a width of 1.0 kilometre and vertical continuity exceeding 1.0 kilometre. In addition, integrated interpretation of geophysical surveys (refer to news release dated May 3, 2022) and follow-up fieldwork (refer to news releases dated November 15, 2022; February 7, 2023; January 27, 2025) has outlined at least nine additional porphyry targets across the broader project area, underscoring the district-scale potential beyond the main Mocoa deposit. *The Fertile Period represents the duration of magmatic-hydrothermal activity associated with copper mineralization, based on radiometric dating methods such as U-Pb, Re-Os, and K-Ar for the Mocoa project. Mirador, Warintza, San Carlos and Panantza are independent of Copper Giant and are no guarantee of the future performance of Copper Giant projects and no inference can be made of mineral resources or reserves from adjacent deposits. Qualified Person and Technical Notes Edwin Naranjo Sierra, Exploration Manager of Copper Giant is the designated Qualified Person within the meaning of NI 43-101 and has reviewed and verified 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). The Mocoa Project Exploration Target was completed by Mr. Michael Dufresne (MSc, President and CEO of APEX, an independent Qualified Person as defined by NI 43-101 and he has reviewed and approved of the disclosure herein. Current Mineral Resource Estimate for the Mocoa Project LOCATION CATEGORY MTONNES CuEq2 (%) Cu (%) Mo (%) CuEq (Blbs) Cu (Blbs) Mo (Mlbs) Oxide and Transition Inferred 139 0.41 0.32 0.026 1.25 0.99 78.3 Sulphide Inferred 497 0.46 0.33 0.04 5.06 3.61 432.7 Total Inferred 636 0.45 0.33 0.036 6.31 4.6 510.5 Notes: The mineral resources were estimated in accordance with CIM Definition Standards for Mineral Resources and Reserves. In–pit resources are contained within an optimized shell generated using US$3.00/lb Cu and US$10.00/lb Mo; CuEq %= Cu % + 3.33 × Mo %. Base–case cut–off grade: 0.25 % CuEq. Metal recoveries applied: 90 % Cu, 75 % Mo (preliminary historical internal metallurgical testing). Optimized–pit parameters: Cu US$3.00/lb, Mo US$10.00/lb, 45° slope, mining cost US$2.50/t, G&A US$2.00/t, processing cost US$10.00/t. Effective date: 1 November 2021. Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability. Cautionary note: a Regional Forest Reserve formerly overlapped the western part of the deposit, limiting the pit to 325 Mt at 0.46 % CuEq. Subsequent boundary updates confirmed no overlap between the Reserve and the known Mocoa resource (refer to Copper Giant's news release dated November 12, 2024). 1For further information refer to NI 43-101 Technical Report, entitled "Technical Report on the Mocoa Copper-Molybdenum Project, Colombia", dated January 17, 2022, prepared by Michael Rowland Brepsant, FAusIMM, Robert Sim, and Bruce Davis, FAusIMM. with an effective date of November 01, 2021. About the Mocoa Porphyry System The Mocoa project is located in the department of Putumayo, approximately 10 kilometres from the town of Mocoa in southern Colombia. Copper Giant holds a district-scale land package of over 790 square kilometres through granted titles and applications, covering a substantial portion of the Jurassic porphyry belt - an underexplored and highly prospective metallogenic zone in the northern Andes. Discovered in 1973 through a regional geochemical survey by the United Nations and the Colombian government, Mocoa has been the subject of multiple exploration campaigns. Between 1978 and 1983, follow-up work included geological mapping, IP and magnetic geophysics, surface sampling, drilling, and metallurgical testing. Additional drilling by B2Gold in 2008 and 2012 helped shape the current geological understanding. The deposit is hosted in Middle Jurassic dacite and quartz-diorite porphyries intruding andesitic to dacitic volcanics, within Colombia's Central Cordillera. This 30-kilometre-wide tectonic belt extends into Ecuador and hosts other major porphyry systems like Mirador, Warintza, San Carlos, and Panantza. Mocoa displays a classical porphyry-style alteration zonation: potassic core, sericitic halo, and outer propylitic zone, with mineralization consisting of disseminated chalcopyrite and molybdenite, and local bornite and chalcocite, associated with stockworks and hydrothermal breccias. The system features over 1,000 metres of vertical continuity, overlapping hydrothermal stages, and a broad alteration footprint. Multiple intrusive phases, brecciation events, and vein generations suggest a dynamic magmatic-hydrothermal evolution likely driven by more than one porphyry center. Mocoa remains open in all directions, with several satellite targets identified across the broader land package. These features support the interpretation of a district-scale porphyry system and position Mocoa as one of the most significant undeveloped copper-molybdenum assets in the Andes. About Copper Giant Copper Giant Resources Corp. is part of the Fiore Group, a private and well-established Canadian organization known for building successful, high-impact companies across the natural resource sector. Copper Giant was formed with a singular focus: to advance high-quality copper projects beyond resource definition—responsibly, efficiently, and with long-term positive impact. The Company is led by a team with uncommon experience, having successfully taken some of the few major copper mines developed in the past two decades from discovery through to construction. Copper Giant's current focus is the Mocoa copper-molybdenum deposit in southern Colombia, one of the largest undeveloped resources of its kind in the Americas. Recent exploration success has revealed potential well beyond its original footprint, highlighting Mocoa as a broader district-scale opportunity—and the catalyst for the Company's name and evolution. Guided by the values of respect and responsibility, and grounded in its Good Neighbor philosophy, Copper Giant is committed to creating enduring value for all stakeholders and playing a meaningful role in the global energy transition. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This news release includes forward-looking statements that are subject to risks and uncertainties. All statements within, other than statements of historical fact, including statements regarding the potential exploration target and its ability to expand the mineralization envelope of the Mocoa Project, the timing and potential to issue and the results of an updated technical report; the outcome of the Company's Exploration Target; other activities and achievements of the Company, including but not limited to: the timing and success for the advancement of the Mocoa Project, the expansion of the Mocoa resource base; are to be considered forward looking. Although Copper Giant believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include the uncertainty if further exploration will result in the Exploration Target being delineated as a mineral resource, market prices and volatility with the Company's common shares, exploitation and exploration successes, uncertainty of reserve and resource estimates, risks of not achieving production, continued availability of capital and financing, processes, permits and filing requirements, risks related to operations in foreign and developing countries and compliance with foreign laws and including risks related to changes in foreign laws and changing policies related to mining and local ownership requirements in Colombia, and general economic, market, political or business conditions and regulatory and administrative approvals. There can be no assurances that such statements will prove accurate and, therefore, readers are advised to rely on their own evaluation of such uncertainties. We do not assume any obligation to update any forward-looking statements. SOURCE COPPER GIANT RESOURCES CORP. View original content to download multimedia: Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Cision Canada
20-05-2025
- Business
- Cision Canada
COPPER GIANT OUTLINES EXPANSION UPSIDE WITH A 977 TO 1,247 MILLION TONNE CONCEPTUAL EXPLORATION TARGET RANGING 0.49 - 0.55% COPPER EQUIVALENT (0.31 - 0.36% CU AND 0.035 - 0.039% MO) AT THE MOCOA DEPOSIT
VANCOUVER, BC, May 20, 2025 /CNW/ - Copper Giant Resources Corp. (" Copper Giant" or the " Company") (TSXV: CGNT) (OTCQB: LBCMF) (FRA: 29H0) is pleased to announce a preliminary conceptual exploration target (the "Exploration Target") at its Mocoa copper-molybdenum project in Putumayo, Colombia (the "Mocoa Project"). Developed in collaboration with APEX Geoscience Ltd. ("APEX"), the Exploration Target outlines the potential to significantly expand the mineralized envelope beyond the limits of the Current (2021) Mineral Resource Estimate 1. An integrated reinterpretation of drilling, geophysical and geochemical data shows that Mocoa meets every hallmark of a tier-one porphyry system, reinforcing its district-scale growth potential and guiding the next phase of resource-expansion drilling. Working with APEX, Copper Giant has outlined a conceptual Exploration Target for material lying outside the Current (2021) Mineral Resource Estimate 1; highlights include: Target size: 977 – 1,247 million tonnes Target grade: 0.49 – 0.55 CuEq (0.31 – 0.36% Cu and 0.035 – 0.039% Mo) The Exploration Target is based on all drilling to date at the project and is exclusive of, and represents the exploration upside of, the area surrounding and outside of the Current (2021) Mineral Resource Estimate. The quantity and grade of the Exploration Target mineralized material are conceptual in nature, as there has not been sufficient exploration and drilling to define a mineral resource, and it is uncertain whether exploration will result in the target being delineated as a mineral resource. The defined Exploration Target should not be misrepresented or misconstrued as an estimate of a mineral resource or mineral reserve. The Exploration Target Model has not been evaluated for reasonable prospects of eventual economic extraction (RPEEE). Ian Harris, President & CEO commented: "Every round of drilling deepens our conviction that we're only touching the tail of the elephant at Mocoa. This new Exploration Target, prepared in collaboration with APEX Geoscience, shows the potential to double—almost triple—the existing resource, and we're still focused just on the area surrounding current drilling. It ticks all the boxes of a major porphyry system: scale, continuity, and multi-phase enrichment. Most importantly, it gives us a clear, data-driven roadmap for aggressive resource expansion. In accordance with the requirements of National Instrument 43-101 - Standards of Disclosure for Mineral Projects ("NI 43-101"), Copper Giant has established the Exploration Target for the Mocoa Project. The target ranges from approximately 977 to 1,247 million tonnes of mineralized material, grading between 0.31 and 0.36% Cu and 0.035 and 0.039% Mo. These figures are conceptual in nature and based on limited drilling and geological modeling. There has not been sufficient exploration to define a current mineral resource, and it remains uncertain whether further work will lead to the delineation of a mineral resource. The Exploration Target has not yet been assessed for RPEEE. A new NI 43-101 technical report is being completed by Mr. Michael Dufresne (MSc, President and CEO of APEX, an independent Qualified Person as defined by NI 43-101. The technical report will include details on the Exploration Target. Table 1 – Exploration Target for the Mocoa Project. The potential quantity and grade of the Exploration Target is conceptual in nature, and there has not been sufficient exploration and drilling to define a mineral resource, and it is uncertain if further exploration will result in the target being delineated as a mineral resource. The Exploration Target Model has not been evaluated for RPEEE. *Copper equivalent (CuEq) for the Exploration Target is calculated as: CuEq (%) = Cu (%) + 5.0 × Mo (%), utilizing metal prices of Cu - US$4.20/lb and Mo - US$25.00/lb and metal recoveries of 90% Cu and 75% Mo. The Exploration Target used a modern 3D-geological model provided by Company geologists for the Mocoa Project, which was derived from 46 drillholes yielding a total of 29,748 metres. The drillhole database contains a full-set of 17,040 sample intervals with complete multi-element geochemical results. The Exploration Target was developed using both copper and molybdenum assay results from previous and Copper Giant's most recent drilling. Mineralization trends were evaluated visually to generate a trend model, which informed the construction of grade shells. These grade shells were used to estimate the distribution of mineralized tonnes and grade to support the generation of grade-tonnage curves. The Exploration Target will be utilized to guide future drilling in these areas of known mineralization. Over the Exploration Target there are a total of 31 drillholes (Ingeominas-United Nations) yielding a total of 18,307 meters, and 15 modern (B2gold and Copper Giant) drillholes yielding a total of 11,441 meters in the drillhole database. The drillhole database contains a total of 17,040 sample interval entries. A total of 5,626 sample intervals are contained within the mineralization domains utilized for the Exploration Target New Geological Interpretation Highlights Mocoa's District-Scale Potential Over the past six months, Copper Giant's technical team has completed a comprehensive re-interpretation of the robust geological, geochemical, and geophysical datasets from the Mocoa Project. This effort also incorporates results from the most recent drill holes: MD–043 (refer to news release dated April 26, 2022) MD–044 (refer to news release dated January 6, 2025), MD–045 (refer to news release dated February 26, 2025) and MD–046 (refer to news release dated May 6, 2025), which collectively cover a ~1 × 1 kilometer area. The updated interpretation confirms that the Mocoa Project exhibits the hallmark features of the world's largest porphyry copper systems, underscoring its potential as a district-scale discovery. Key observations include: Tectonic setting – Mocoa lies in the Andean cordillera, a prime jurisdiction for large tier-one porphyry deposits. Mocoa is part of the Jurassic porphyry belt of the Andean magmatic arc, part of the same compressional belt that hosts Mirador*, Warintza*, San Carlos*, and Panantza*, all located in Ecuador. Extended fertile period* – U-Pb zircon and Re-Os molybdenite geochronology reveal a prolonged magmatic-hydrothermal window of approximately 10 million years (182–172 Ma), allowing sustained metal circulation and overprinting. Multiphase intrusions – The presence of early-, inter-, and late-mineral porphyries, as well as mineralized breccias, reflects a dynamic, long-lived system with repeated episodes of metal input and fluid flow. Fertile magma chemistry – Whole-rock geochemistry confirms a calc-alkaline, hydrous, and oxidized magma source with elevated Sr/Y ratios, typical of fertile porphyry systems. Large alteration footprint – Surface mapping and magnetic data (refer to news release dated May 3, 2022) define a 6 × 5 km demagnetized zone (~30 km²) with classic concentric potassic, phyllic, and propylitic zonation based on the alteration modelling. High stockwork density and metal zoning – Core logging reveals ≥3% quartz-vein stockwork densities related to the high-grade zones. Modelled geochemical patterns show molybdenum enrichment near surface and lung-shaped surrounding the high-grade copper shell. Volume, vertical extent, and openness – Based on recent drilling, the Mocoa porphyry system has been defined over a strike length of approximately 2.5 kilometres, with a width of 1.0 kilometre and vertical continuity exceeding 1.0 kilometre. In addition, integrated interpretation of geophysical surveys (refer to news release dated May 3, 2022) and follow-up fieldwork (refer to news releases dated November 15, 2022; February 7, 2023; January 27, 2025) has outlined at least nine additional porphyry targets across the broader project area, underscoring the district-scale potential beyond the main Mocoa deposit. *The Fertile Period represents the duration of magmatic-hydrothermal activity associated with copper mineralization, based on radiometric dating methods such as U-Pb, Re-Os, and K-Ar for the Mocoa project. Mirador, Warintza, San Carlos and Panantza are independent of Copper Giant and are no guarantee of the future performance of Copper Giant projects and no inference can be made of mineral resources or reserves from adjacent deposits. Qualified Person and Technical Notes Edwin Naranjo Sierra, Exploration Manager of Copper Giant is the designated Qualified Person within the meaning of NI 43-101 and has reviewed and verified 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). The Mocoa Project Exploration Target was completed by Mr. Michael Dufresne (MSc, President and CEO of APEX, an independent Qualified Person as defined by NI 43-101 and he has reviewed and approved of the disclosure herein. Current Mineral Resource Estimate for the Mocoa Project Notes: The mineral resources were estimated in accordance with CIM Definition Standards for Mineral Resources and Reserves. In–pit resources are contained within an optimized shell generated using US$3.00/lb Cu and US$10.00/lb Mo; CuEq %= Cu % + 3.33 × Mo %. Base–case cut–off grade: 0.25 % CuEq. Metal recoveries applied: 90 % Cu, 75 % Mo (preliminary historical internal metallurgical testing). Optimized–pit parameters: Cu US$3.00/lb, Mo US$10.00/lb, 45° slope, mining cost US$2.50/t, G&A US$2.00/t, processing cost US$10.00/t. Effective date: 1 November 2021. Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability. Cautionary note: a Regional Forest Reserve formerly overlapped the western part of the deposit, limiting the pit to 325 Mt at 0.46 % CuEq. Subsequent boundary updates confirmed no overlap between the Reserve and the known Mocoa resource (refer to Copper Giant's news release dated November 12, 2024). 1 For further information refer to NI 43-101 Technical Report, entitled "Technical Report on the Mocoa Copper-Molybdenum Project, Colombia", dated January 17, 2022, prepared by Michael Rowland Brepsant, FAusIMM, Robert Sim, and Bruce Davis, FAusIMM. with an effective date of November 01, 2021. About the Mocoa Porphyry System The Mocoa project is located in the department of Putumayo, approximately 10 kilometres from the town of Mocoa in southern Colombia. Copper Giant holds a district-scale land package of over 790 square kilometres through granted titles and applications, covering a substantial portion of the Jurassic porphyry belt - an underexplored and highly prospective metallogenic zone in the northern Andes. Discovered in 1973 through a regional geochemical survey by the United Nations and the Colombian government, Mocoa has been the subject of multiple exploration campaigns. Between 1978 and 1983, follow-up work included geological mapping, IP and magnetic geophysics, surface sampling, drilling, and metallurgical testing. Additional drilling by B2Gold in 2008 and 2012 helped shape the current geological understanding. The deposit is hosted in Middle Jurassic dacite and quartz-diorite porphyries intruding andesitic to dacitic volcanics, within Colombia's Central Cordillera. This 30-kilometre-wide tectonic belt extends into Ecuador and hosts other major porphyry systems like Mirador, Warintza, San Carlos, and Panantza. Mocoa displays a classical porphyry-style alteration zonation: potassic core, sericitic halo, and outer propylitic zone, with mineralization consisting of disseminated chalcopyrite and molybdenite, and local bornite and chalcocite, associated with stockworks and hydrothermal breccias. The system features over 1,000 metres of vertical continuity, overlapping hydrothermal stages, and a broad alteration footprint. Multiple intrusive phases, brecciation events, and vein generations suggest a dynamic magmatic-hydrothermal evolution likely driven by more than one porphyry center. Mocoa remains open in all directions, with several satellite targets identified across the broader land package. These features support the interpretation of a district-scale porphyry system and position Mocoa as one of the most significant undeveloped copper-molybdenum assets in the Andes. About Copper Giant Copper Giant Resources Corp. is part of the Fiore Group, a private and well-established Canadian organization known for building successful, high-impact companies across the natural resource sector. Copper Giant was formed with a singular focus: to advance high-quality copper projects beyond resource definition—responsibly, efficiently, and with long-term positive impact. The Company is led by a team with uncommon experience, having successfully taken some of the few major copper mines developed in the past two decades from discovery through to construction. Copper Giant's current focus is the Mocoa copper-molybdenum deposit in southern Colombia, one of the largest undeveloped resources of its kind in the Americas. Recent exploration success has revealed potential well beyond its original footprint, highlighting Mocoa as a broader district-scale opportunity—and the catalyst for the Company's name and evolution. Guided by the values of respect and r esponsibility, and grounded in its Good Neighbor philosophy, Copper Giant is committed to creating enduring value for all stakeholders and playing a meaningful role in the global energy transition. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This news release includes forward-looking statements that are subject to risks and uncertainties. All statements within, other than statements of historical fact, including statements regarding the potential exploration target and its ability to expand the mineralization envelope of the Mocoa Project, the timing and potential to issue and the results of an updated technical report; the outcome of the Company's Exploration Target; other activities and achievements of the Company, including but not limited to: the timing and success for the advancement of the Mocoa Project, the expansion of the Mocoa resource base; are to be considered forward looking. Although Copper Giant believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include the uncertainty if further exploration will result in the Exploration Target being delineated as a mineral resource, market prices and volatility with the Company's common shares, exploitation and exploration successes, uncertainty of reserve and resource estimates, risks of not achieving production, continued availability of capital and financing, processes, permits and filing requirements, risks related to operations in foreign and developing countries and compliance with foreign laws and including risks related to changes in foreign laws and changing policies related to mining and local ownership requirements in Colombia, and general economic, market, political or business conditions and regulatory and administrative approvals. There can be no assurances that such statements will prove accurate and, therefore, readers are advised to rely on their own evaluation of such uncertainties. We do not assume any obligation to update any forward-looking statements. SOURCE COPPER GIANT RESOURCES CORP.
Yahoo
20-05-2025
- Business
- Yahoo
COPPER GIANT OUTLINES EXPANSION UPSIDE WITH A 977 TO 1,247 MILLION TONNE CONCEPTUAL EXPLORATION TARGET RANGING 0.49 - 0.55% COPPER EQUIVALENT (0.31 - 0.36% CU AND 0.035 - 0.039% MO) AT THE MOCOA DEPOSIT
VANCOUVER, BC, May 20, 2025 /CNW/ - Copper Giant Resources Corp. ("Copper Giant" or the "Company") (TSXV: CGNT) (OTCQB: LBCMF) (FRA: 29H0) is pleased to announce a preliminary conceptual exploration target (the "Exploration Target") at its Mocoa copper-molybdenum project in Putumayo, Colombia (the "Mocoa Project"). Developed in collaboration with APEX Geoscience Ltd. ("APEX"), the Exploration Target outlines the potential to significantly expand the mineralized envelope beyond the limits of the Current (2021) Mineral Resource Estimate1. An integrated reinterpretation of drilling, geophysical and geochemical data shows that Mocoa meets every hallmark of a tier-one porphyry system, reinforcing its district-scale growth potential and guiding the next phase of resource-expansion drilling. Working with APEX, Copper Giant has outlined a conceptual Exploration Target for material lying outside the Current (2021) Mineral Resource Estimate1; highlights include: Target size: 977 – 1,247 million tonnes Target grade: 0.49 – 0.55 CuEq (0.31 – 0.36% Cu and 0.035 – 0.039% Mo) The Exploration Target is based on all drilling to date at the project and is exclusive of, and represents the exploration upside of, the area surrounding and outside of the Current (2021) Mineral Resource Estimate. The quantity and grade of the Exploration Target mineralized material are conceptual in nature, as there has not been sufficient exploration and drilling to define a mineral resource, and it is uncertain whether exploration will result in the target being delineated as a mineral resource. The defined Exploration Target should not be misrepresented or misconstrued as an estimate of a mineral resource or mineral reserve. The Exploration Target Model has not been evaluated for reasonable prospects of eventual economic extraction (RPEEE). Ian Harris, President & CEO commented: "Every round of drilling deepens our conviction that we're only touching the tail of the elephant at Mocoa. This new Exploration Target, prepared in collaboration with APEX Geoscience, shows the potential to double—almost triple—the existing resource, and we're still focused just on the area surrounding current drilling. It ticks all the boxes of a major porphyry system: scale, continuity, and multi-phase enrichment. Most importantly, it gives us a clear, data-driven roadmap for aggressive resource expansion. In accordance with the requirements of National Instrument 43-101 - Standards of Disclosure for Mineral Projects ("NI 43-101"), Copper Giant has established the Exploration Target for the Mocoa Project. The target ranges from approximately 977 to 1,247 million tonnes of mineralized material, grading between 0.31 and 0.36% Cu and 0.035 and 0.039% Mo. These figures are conceptual in nature and based on limited drilling and geological modeling. There has not been sufficient exploration to define a current mineral resource, and it remains uncertain whether further work will lead to the delineation of a mineral resource. The Exploration Target has not yet been assessed for RPEEE. A new NI 43-101 technical report is being completed by Mr. Michael Dufresne (MSc, President and CEO of APEX, an independent Qualified Person as defined by NI 43-101. The technical report will include details on the Exploration Target. Cut-off (% CuEq*) Million tonnes Cu (%) Mo (%) CuEq* (%) 0.20 1,247 0.31 0.035 0.49 0.25 1,114 0.33 0.037 0.52 0.30 977 0.36 0.039 0.55 Table 1 – Exploration Target for the Mocoa Project. The potential quantity and grade of the Exploration Target is conceptual in nature, and there has not been sufficient exploration and drilling to define a mineral resource, and it is uncertain if further exploration will result in the target being delineated as a mineral resource. The Exploration Target Model has not been evaluated for RPEEE. *Copper equivalent (CuEq) for the Exploration Target is calculated as: CuEq (%) = Cu (%) + 5.0 × Mo (%), utilizing metal prices of Cu - US$4.20/lb and Mo - US$25.00/lb and metal recoveries of 90% Cu and 75% Mo. The Exploration Target used a modern 3D-geological model provided by Company geologists for the Mocoa Project, which was derived from 46 drillholes yielding a total of 29,748 metres. The drillhole database contains a full-set of 17,040 sample intervals with complete multi-element geochemical results. The Exploration Target was developed using both copper and molybdenum assay results from previous and Copper Giant's most recent drilling. Mineralization trends were evaluated visually to generate a trend model, which informed the construction of grade shells. These grade shells were used to estimate the distribution of mineralized tonnes and grade to support the generation of grade-tonnage curves. The Exploration Target will be utilized to guide future drilling in these areas of known mineralization. Over the Exploration Target there are a total of 31 drillholes (Ingeominas-United Nations) yielding a total of 18,307 meters, and 15 modern (B2gold and Copper Giant) drillholes yielding a total of 11,441 meters in the drillhole database. The drillhole database contains a total of 17,040 sample interval entries. A total of 5,626 sample intervals are contained within the mineralization domains utilized for the Exploration Target New Geological Interpretation Highlights Mocoa's District-Scale Potential Over the past six months, Copper Giant's technical team has completed a comprehensive re-interpretation of the robust geological, geochemical, and geophysical datasets from the Mocoa Project. This effort also incorporates results from the most recent drill holes: MD–043 (refer to news release dated April 26, 2022) MD–044 (refer to news release dated January 6, 2025), MD–045 (refer to news release dated February 26, 2025) and MD–046 (refer to news release dated May 6, 2025), which collectively cover a ~1 × 1 kilometer area. The updated interpretation confirms that the Mocoa Project exhibits the hallmark features of the world's largest porphyry copper systems, underscoring its potential as a district-scale discovery. Key observations include: Tectonic setting – Mocoa lies in the Andean cordillera, a prime jurisdiction for large tier-one porphyry deposits. Mocoa is part of the Jurassic porphyry belt of the Andean magmatic arc, part of the same compressional belt that hosts Mirador*, Warintza*, San Carlos*, and Panantza*, all located in Ecuador. Extended fertile period* – U-Pb zircon and Re-Os molybdenite geochronology reveal a prolonged magmatic-hydrothermal window of approximately 10 million years (182–172 Ma), allowing sustained metal circulation and overprinting. Multiphase intrusions – The presence of early-, inter-, and late-mineral porphyries, as well as mineralized breccias, reflects a dynamic, long-lived system with repeated episodes of metal input and fluid flow. Fertile magma chemistry – Whole-rock geochemistry confirms a calc-alkaline, hydrous, and oxidized magma source with elevated Sr/Y ratios, typical of fertile porphyry systems. Large alteration footprint – Surface mapping and magnetic data (refer to news release dated May 3, 2022) define a 6 × 5 km demagnetized zone (~30 km²) with classic concentric potassic, phyllic, and propylitic zonation based on the alteration modelling. High stockwork density and metal zoning – Core logging reveals ≥3% quartz-vein stockwork densities related to the high-grade zones. Modelled geochemical patterns show molybdenum enrichment near surface and lung-shaped surrounding the high-grade copper shell. Volume, vertical extent, and openness – Based on recent drilling, the Mocoa porphyry system has been defined over a strike length of approximately 2.5 kilometres, with a width of 1.0 kilometre and vertical continuity exceeding 1.0 kilometre. In addition, integrated interpretation of geophysical surveys (refer to news release dated May 3, 2022) and follow-up fieldwork (refer to news releases dated November 15, 2022; February 7, 2023; January 27, 2025) has outlined at least nine additional porphyry targets across the broader project area, underscoring the district-scale potential beyond the main Mocoa deposit. *The Fertile Period represents the duration of magmatic-hydrothermal activity associated with copper mineralization, based on radiometric dating methods such as U-Pb, Re-Os, and K-Ar for the Mocoa project. Mirador, Warintza, San Carlos and Panantza are independent of Copper Giant and are no guarantee of the future performance of Copper Giant projects and no inference can be made of mineral resources or reserves from adjacent deposits. Qualified Person and Technical Notes Edwin Naranjo Sierra, Exploration Manager of Copper Giant is the designated Qualified Person within the meaning of NI 43-101 and has reviewed and verified 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). The Mocoa Project Exploration Target was completed by Mr. Michael Dufresne (MSc, President and CEO of APEX, an independent Qualified Person as defined by NI 43-101 and he has reviewed and approved of the disclosure herein. Current Mineral Resource Estimate for the Mocoa Project LOCATION CATEGORY MTONNES CuEq2 (%) Cu (%) Mo (%) CuEq (Blbs) Cu (Blbs) Mo (Mlbs) Oxide and Transition Inferred 139 0.41 0.32 0.026 1.25 0.99 78.3 Sulphide Inferred 497 0.46 0.33 0.04 5.06 3.61 432.7 Total Inferred 636 0.45 0.33 0.036 6.31 4.6 510.5 Notes: The mineral resources were estimated in accordance with CIM Definition Standards for Mineral Resources and Reserves. In–pit resources are contained within an optimized shell generated using US$3.00/lb Cu and US$10.00/lb Mo; CuEq %= Cu % + 3.33 × Mo %. Base–case cut–off grade: 0.25 % CuEq. Metal recoveries applied: 90 % Cu, 75 % Mo (preliminary historical internal metallurgical testing). Optimized–pit parameters: Cu US$3.00/lb, Mo US$10.00/lb, 45° slope, mining cost US$2.50/t, G&A US$2.00/t, processing cost US$10.00/t. Effective date: 1 November 2021. Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability. Cautionary note: a Regional Forest Reserve formerly overlapped the western part of the deposit, limiting the pit to 325 Mt at 0.46 % CuEq. Subsequent boundary updates confirmed no overlap between the Reserve and the known Mocoa resource (refer to Copper Giant's news release dated November 12, 2024). 1For further information refer to NI 43-101 Technical Report, entitled "Technical Report on the Mocoa Copper-Molybdenum Project, Colombia", dated January 17, 2022, prepared by Michael Rowland Brepsant, FAusIMM, Robert Sim, and Bruce Davis, FAusIMM. with an effective date of November 01, 2021. About the Mocoa Porphyry System The Mocoa project is located in the department of Putumayo, approximately 10 kilometres from the town of Mocoa in southern Colombia. Copper Giant holds a district-scale land package of over 790 square kilometres through granted titles and applications, covering a substantial portion of the Jurassic porphyry belt - an underexplored and highly prospective metallogenic zone in the northern Andes. Discovered in 1973 through a regional geochemical survey by the United Nations and the Colombian government, Mocoa has been the subject of multiple exploration campaigns. Between 1978 and 1983, follow-up work included geological mapping, IP and magnetic geophysics, surface sampling, drilling, and metallurgical testing. Additional drilling by B2Gold in 2008 and 2012 helped shape the current geological understanding. The deposit is hosted in Middle Jurassic dacite and quartz-diorite porphyries intruding andesitic to dacitic volcanics, within Colombia's Central Cordillera. This 30-kilometre-wide tectonic belt extends into Ecuador and hosts other major porphyry systems like Mirador, Warintza, San Carlos, and Panantza. Mocoa displays a classical porphyry-style alteration zonation: potassic core, sericitic halo, and outer propylitic zone, with mineralization consisting of disseminated chalcopyrite and molybdenite, and local bornite and chalcocite, associated with stockworks and hydrothermal breccias. The system features over 1,000 metres of vertical continuity, overlapping hydrothermal stages, and a broad alteration footprint. Multiple intrusive phases, brecciation events, and vein generations suggest a dynamic magmatic-hydrothermal evolution likely driven by more than one porphyry center. Mocoa remains open in all directions, with several satellite targets identified across the broader land package. These features support the interpretation of a district-scale porphyry system and position Mocoa as one of the most significant undeveloped copper-molybdenum assets in the Andes. About Copper Giant Copper Giant Resources Corp. is part of the Fiore Group, a private and well-established Canadian organization known for building successful, high-impact companies across the natural resource sector. Copper Giant was formed with a singular focus: to advance high-quality copper projects beyond resource definition—responsibly, efficiently, and with long-term positive impact. The Company is led by a team with uncommon experience, having successfully taken some of the few major copper mines developed in the past two decades from discovery through to construction. Copper Giant's current focus is the Mocoa copper-molybdenum deposit in southern Colombia, one of the largest undeveloped resources of its kind in the Americas. Recent exploration success has revealed potential well beyond its original footprint, highlighting Mocoa as a broader district-scale opportunity—and the catalyst for the Company's name and evolution. Guided by the values of respect and responsibility, and grounded in its Good Neighbor philosophy, Copper Giant is committed to creating enduring value for all stakeholders and playing a meaningful role in the global energy transition. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This news release includes forward-looking statements that are subject to risks and uncertainties. All statements within, other than statements of historical fact, including statements regarding the potential exploration target and its ability to expand the mineralization envelope of the Mocoa Project, the timing and potential to issue and the results of an updated technical report; the outcome of the Company's Exploration Target; other activities and achievements of the Company, including but not limited to: the timing and success for the advancement of the Mocoa Project, the expansion of the Mocoa resource base; are to be considered forward looking. Although Copper Giant believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include the uncertainty if further exploration will result in the Exploration Target being delineated as a mineral resource, market prices and volatility with the Company's common shares, exploitation and exploration successes, uncertainty of reserve and resource estimates, risks of not achieving production, continued availability of capital and financing, processes, permits and filing requirements, risks related to operations in foreign and developing countries and compliance with foreign laws and including risks related to changes in foreign laws and changing policies related to mining and local ownership requirements in Colombia, and general economic, market, political or business conditions and regulatory and administrative approvals. There can be no assurances that such statements will prove accurate and, therefore, readers are advised to rely on their own evaluation of such uncertainties. We do not assume any obligation to update any forward-looking statements. SOURCE COPPER GIANT RESOURCES CORP. View original content to download multimedia: Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Cision Canada
14-05-2025
- Business
- Cision Canada
OUTCROP SILVER EXPANDS LOS MANGOS VEIN SYSTEM WITH NEW HIGH-GRADE INTERCEPTS INCLUDING 3.86 METRES AT 621 g/t SILVER EQUIVALENT
VANCOUVER, BC, May 14, 2025 /CNW/ - Outcrop Silver & Gold Corporation (TSXV: OCG) (OTCQX: OCGSF) (DE: MRG) ("Outcrop Silver") is pleased to announce new drill results from the Los Mangos vein at its 100%-owned Santa Ana high-grade silver project in Colombia. The latest intercepts further confirm the presence of wide, high-grade zones within the system and reinforce the continuity of mineralization along strike and at depth (Figure 1 and Figure 2). These results follow the company's previously announced intercept of 18.30 metres at 992 g/t AgEq in hole DH459 (News Release dated May 6, 2025), and support the emerging significance of Los Mangos as one of the project's most robust vein systems discovered to date. Highlights Hole DH464 returned 3.86 metres at 621 g/t AgEq (433 g/t Ag and 2.51 g/t Au) (Table 1, Figure 3) Recently announced high-grade drill results along strike at Los Mangos: DH459: 18.30 metres at 992 g/t AgEq (News Release dated May 6, 2025) DH457: 8.20 metres at 669 g/t AgEq (News Release dated April 22, 2025) DH451: 7.18 metres at 358 g/t AgEq (News Release dated April 1, 2025) DH444: 1.92 metres at 586 g/t AgEq (News Release dated March 12, 2025) "Every new intercept at Los Mangos strengthens the case that the central portion of Santa Ana can add meaningful tonnes and grade in short order. These results validate our fully funded 24,000 metre drill program, which is laser focused on converting discoveries into ounces for the next resource update. We are executing exactly what we laid out to investors," stated Ian Harris, President & CEO. "This momentum is possible only through the hard work of our on site teams and the strong partnership we share with the people of Falan and Tolima—together carrying a 400 year silver legacy into the next generation." The Los Mangos vein system lies in the southwestern portion of the fully permitted 17 kilometer mineralized corridor of the Santa Ana Project and is located more than 8 kilometres south of the current resource area (News Release April 26, 2023). Drilling has confirmed to date, a strike length of over 350 metres and vertical continuity exceeding 250 metres, with mineralization hosted in quartz-sulfide breccias and veins within altered green schists and intrusive dikes (Figure 3 and Figure 4). Table 1. Drill hole assay results reported in this release. * The current knowledge of these structures does not allow for estimating the true width. "With each new hole, Los Mangos continues to prove itself as one of the most exciting discoveries within the Santa Ana project," commented Guillermo Hernandez, Vice President of Exploration. "These intercepts demonstrate not only the continuity of grade but also the persistence of thickness, which is critical for future resource expansions. Our targeting is becoming increasingly precise, and we remain confident that continued drilling will expand the high-grade footprint ahead of our upcoming resource update." Table 3. Surface chip and grab sample results in the Los Mangos vein target from the regional exploration program, including those previously reported and referred to in Figure 1 (see News Releases dated August 23, 2023, and March 12, 2025). By their nature, grab samples are selective, and the assay results may not necessarily represent true underlying mineralization. Coordinates are UTM system, zone 18N and WGS84 projection. Table 4. Collar and survey table for drill holes reported and referred to in this release. All coordinates are UTM system, Zone 18N, and WGS84 projection. 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: QA/QC Outcrop Silver applied its standard protocols for sampling and assay for exploration activities. Underground channel samples were taken perpendicular to the vein and sample length was broken by geology. Core diameter is a mix of HTW and NTW depending on the depth of the drill hole. Diamond drill core boxes were photographed, sawed, sampled and tagged. Samples were bagged, tagged and packaged for shipment by truck from Santa Ana's core logging facilities in Falan, Colombia to the Actlabs certified sample preparation facility in Medellin, Colombia. ActLabs is an accredited laboratory independent of the Company. HQ-NTW core is sawn with one-half shipped. Samples delivered to Actlabs were AA assayed on Au, Ag, Pb, and Zn at Medellin using 1A2Au, 1A3Au, Multi-elements AR (Ag Cu Pb Zn), and Code 8 methods. Then, samples were sent to Actlabs Mexico for ICP-multi-elemental analysis with code 1E3. In line with QA/QC best practices, blanks, duplicates, and certified reference materials are inserted at approximately three control samples every twenty samples into the sample stream, monitoring laboratory performance. A comparison of control samples and their standard deviations indicates acceptable accuracy of the assays and no detectible contamination. No material QA/QC issues have been identified with respect to sample collection, security and assaying. The samples are analyzed for gold and silver using a standard fire assay on a 30-gram sample with a gravimetric finish for over-limits. Multi-element geochemistry was determined by ICP-MS using either aqua regia or four acid digestions. Crush rejects, pulps, and the remaining core are stored in a secured facility at Santa Ana for future assay verification. Qualified Person Edwin Naranjo Sierra is the designated Qualified Person within the meaning of the National Instrument 43-101 and has reviewed and verified 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 24.2 million ounces silver equivalent at a grade of 614 grams per tonne and an inferred resource of 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.
Yahoo
14-05-2025
- Business
- Yahoo
OUTCROP SILVER EXPANDS LOS MANGOS VEIN SYSTEM WITH NEW HIGH-GRADE INTERCEPTS INCLUDING 3.86 METRES AT 621 g/t SILVER EQUIVALENT
VANCOUVER, BC, May 14, 2025 /CNW/ - Outcrop Silver & Gold Corporation (TSXV: OCG) (OTCQX: OCGSF) (DE: MRG) ("Outcrop Silver") is pleased to announce new drill results from the Los Mangos vein at its 100%-owned Santa Ana high-grade silver project in Colombia. The latest intercepts further confirm the presence of wide, high-grade zones within the system and reinforce the continuity of mineralization along strike and at depth (Figure 1 and Figure 2). These results follow the company's previously announced intercept of 18.30 metres at 992 g/t AgEq in hole DH459 (News Release dated May 6, 2025), and support the emerging significance of Los Mangos as one of the project's most robust vein systems discovered to date. Highlights Hole DH464 returned 3.86 metres at 621 g/t AgEq (433 g/t Ag and 2.51 g/t Au) (Table 1, Figure 3) Recently announced high-grade drill results along strike at Los Mangos: DH459: 18.30 metres at 992 g/t AgEq (News Release dated May 6, 2025) DH457: 8.20 metres at 669 g/t AgEq (News Release dated April 22, 2025) DH451: 7.18 metres at 358 g/t AgEq (News Release dated April 1, 2025) DH444: 1.92 metres at 586 g/t AgEq (News Release dated March 12, 2025) "Every new intercept at Los Mangos strengthens the case that the central portion of Santa Ana can add meaningful tonnes and grade in short order. These results validate our fully funded 24,000 metre drill program, which is laser focused on converting discoveries into ounces for the next resource update. We are executing exactly what we laid out to investors," stated Ian Harris, President & CEO. "This momentum is possible only through the hard work of our on site teams and the strong partnership we share with the people of Falan and Tolima—together carrying a 400 year silver legacy into the next generation." The Los Mangos vein system lies in the southwestern portion of the fully permitted 17 kilometer mineralized corridor of the Santa Ana Project and is located more than 8 kilometres south of the current resource area (News Release April 26, 2023). Drilling has confirmed to date, a strike length of over 350 metres and vertical continuity exceeding 250 metres, with mineralization hosted in quartz-sulfide breccias and veins within altered green schists and intrusive dikes (Figure 3 and Figure 4). Target Hole ID From(m) To(m) Interval(m) EstimatedTrue Width(m) Aug/t Agg/t AgEq1g/t Vein Los Mangos DH461 203.30 203.67 0.37 * 0.17 205 217 Vein DH461 223.48 228.75 5.27 3.13 0.17 195 208 Los Mangos Including 228.14 228.75 0.61 0.36 0.92 1,213 1,282 DH464 111.75 112.07 0.32 * 0.05 458 462 Mangos Fault DH464 224.99 228.85 3.86 2.41 2.51 433 621 Los Mangos Including 224.99 225.60 0.61 0.38 1.67 895 1,020 And 226.40 227.16 0.76 0.47 6.53 108 598 And 227.16 228.16 1.00 0.62 3.37 984 1,237 DH464 239.71 240.01 0.30 * 0.12 341 349 Vein Table 1. Drill hole assay results reported in this release. * The current knowledge of these structures does not allow for estimating the true width. "With each new hole, Los Mangos continues to prove itself as one of the most exciting discoveries within the Santa Ana project," commented Guillermo Hernandez, Vice President of Exploration. "These intercepts demonstrate not only the continuity of grade but also the persistence of thickness, which is critical for future resource expansions. Our targeting is becoming increasingly precise, and we remain confident that continued drilling will expand the high-grade footprint ahead of our upcoming resource update." Sample Easting(m) Northing(m) Elevation(m) SampleType Aug/t Agg/t AgEq1g/t Release Date 15491 501854.0 556550.0 866.08 Dump Grab 8.07 234 840 August 23, 2023 17351 501681.0 556466.0 1012.00 Chip 0.22 297 314 March 12, 2025 17528 501846.0 556532.2 875.00 Dump Grab 8.04 301 905 March 12, 2025 17531 501847.0 556533.2 875.00 Dump Grab 7.15 81 618 March 12, 2025 17532 501844.0 556530.2 875.00 Dump Grab 0.56 3,019 3,061 March 12, 2025 17687 501659.0 556484.0 1028.00 Chip 3.73 907 1,187 March 12, 2025 17688 501660.0 556474.0 1035.00 Chip 3.04 344 572 March 12, 2025 17765 501754.0 556392.0 987.00 Dump Grab 12.57 215 1,159 March 12, 2025 17766 501742.0 556411.0 974.00 Chip 6.22 122 589 March 12, 2025 Table 3. Surface chip and grab sample results in the Los Mangos vein target from the regional exploration program, including those previously reported and referred to in Figure 1 (see News Releases dated August 23, 2023, and March 12, 2025). By their nature, grab samples are selective, and the assay results may not necessarily represent true underlying mineralization. Coordinates are UTM system, zone 18N and WGS84 projection. Hole ID Hole Code Easting(m) Northing(m) Elevation(m) Depth(m) Azimuth(°) Dip(°) DH420 SALM24HD420 501916.349 556451.154 915.18 200.25 303 -45 DH423 SALM24DH423 501917.600 556451.345 915.19 164.71 333 -45 DH425 SALM24DH425 501915.818 556450.553 914.73 215.49 285 -55 DH428 SALM24DH428 501915.742 556450.146 915.19 227.99 273 -55 DH432 SALM24DH432 501881.348 556447.027 921.96 131.46 321 -45 DH434 SALM25DH434 501881.468 556446.758 922.44 151.66 310 -45 DH436 SALM25DH436 501797.491 556358.423 989.71 179.22 315 -51 DH438 SALM25DH438 501796.942 556358.077 989.68 210.61 298 -50 DH440 SALM25DH440 501796.528 556357.559 989.84 190.19 286 -45 DH442 SALM25DH442 501796.528 556357.559 989.84 201.47 335 -49 DH444 SALM25DH444 501796.901 556358.092 989.81 200.55 306 -58 DH447 SALM25DH447 501766.685 556378.891 998.44 120.09 325 -51 DH449 SALM25DH449 501797.565 556358.288 989.73 163.98 325 -58 DH451 SALM25DH451 501796.972 556357.896 989.75 250.24 302 -65 DH453 SALM25DH453 501796.830 556357.426 989.55 242.62 286 -59 DH454 SALM25DH454 501796.932 556357.896 989.59 286.20 305 -69 DH457 SALM25DH457 501797.401 556358.269 989.55 248.71 324 -65 DH459 SALM25DH459 501797.979 556358.194 989.86 229.39 346 -60 DH461 SALM25DH461 501797.955 556358.119 989.361 273.40 346 -66 DH464 SALM25DH464 501796.568 556357.185 989.749 250.24 286 -62 Table 4. Collar and survey table for drill holes reported and referred to in this release. All coordinates are UTM system, Zone 18N, and WGS84 projection. 1Silver 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: QA/QC Outcrop Silver applied its standard protocols for sampling and assay for exploration activities. Underground channel samples were taken perpendicular to the vein and sample length was broken by geology. Core diameter is a mix of HTW and NTW depending on the depth of the drill hole. Diamond drill core boxes were photographed, sawed, sampled and tagged. Samples were bagged, tagged and packaged for shipment by truck from Santa Ana's core logging facilities in Falan, Colombia to the Actlabs certified sample preparation facility in Medellin, Colombia. ActLabs is an accredited laboratory independent of the Company. HQ-NTW core is sawn with one-half shipped. Samples delivered to Actlabs were AA assayed on Au, Ag, Pb, and Zn at Medellin using 1A2Au, 1A3Au, Multi-elements AR (Ag Cu Pb Zn), and Code 8 methods. Then, samples were sent to Actlabs Mexico for ICP-multi-elemental analysis with code 1E3. In line with QA/QC best practices, blanks, duplicates, and certified reference materials are inserted at approximately three control samples every twenty samples into the sample stream, monitoring laboratory performance. A comparison of control samples and their standard deviations indicates acceptable accuracy of the assays and no detectible contamination. No material QA/QC issues have been identified with respect to sample collection, security and assaying. The samples are analyzed for gold and silver using a standard fire assay on a 30-gram sample with a gravimetric finish for over-limits. Multi-element geochemistry was determined by ICP-MS using either aqua regia or four acid digestions. Crush rejects, pulps, and the remaining core are stored in a secured facility at Santa Ana for future assay verification. Qualified Person Edwin Naranjo Sierra is the designated Qualified Person within the meaning of the National Instrument 43-101 and has reviewed and verified 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 24.2 million ounces silver equivalent at a grade of 614 grams per tonne and an inferred resource of 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. SOURCE Outcrop Silver & Gold Corporation View original content to download multimedia:
