Outcrop doubles inferred silver at Santa Ana in Colombia
Original announcement by northernminer on
- Company
- Outcrop Silver & Gold
- Ticker
- OCG
- Exchange
- Unavailable
- Region
- Colombia
- Primary commodity
- Silver
- Secondary commodities
- Gold
- Document categories
- Resource update
- Extracted
- 2026-09-16 16:49:58 UTC
Analysis by Minestarters Atlas
Minestarters Atlas analysis
Summary
Outcrop Silver & Gold has updated its Santa Ana project resource in Colombia, significantly increasing inferred silver metal by 107% and indicated silver by 23%. The update is supported by 130,006 metres of new drilling and expands the resource footprint to include the Los Mangos system.
Reasoning: The resource update shows substantial growth in both inferred and indicated silver metal content, driven by significant additional drilling and footprint expansion.
Positive factors
- Significant increase in inferred silver (107%)
- Contained silver growth from 27.2 Moz to 41.8 Moz
- Contained gold growth from 139,700 oz to 202,000 oz
- Expansion of resource footprint to Los Mangos
Facts used in scoring: 8
Classification and evidence
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: The update includes 2.3 million tonnes of inferred silver resource.
Evidence · text
“Inferred resources add 2.3 million tonnes grading 266 grams silver and 1.29 grams gold”
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: The update includes 1.8 million indicated tonnes of silver resource.
Evidence · text
“1.8 million indicated tonnes grading 376 grams silver”
Tonnage Growthpositive
Tonnage increase reaching the strong tier vs prior estimate, with grade maintained or improved.
Why it applies: Total silver contained metal increased from 27.2 million oz to 41.8 million oz.
Evidence · text
“contained silver has grown to 41.8 million oz. from 27.2 million oz.”
Contained Metal Growthpositive
True scale improvement — contained metal ounces/tonnes increased vs prior, accounting for both tonnage and grade changes.
Why it applies: Contained silver increased by approximately 53% and gold by 43%.
Evidence · text
“contained silver has grown to 41.8 million oz. from 27.2 million oz., while gold has increased to 202,000 oz. from 139,700 oz.”
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: The document reports a revised resource estimate compared to the 2023 resource.
Evidence · text
“reported more than twice the inferred and almost a quarter more indicated silver at its Santa Ana project in Colombia than in its 2023 resource.”
Extracted facts
Stored fact records: 8. Some facts used in scoring do not have a stored record.
Resource Estimates (8)
indicatedSanta Ana · silverTonnes: 1800000Grade: 376Grade Unit: g/tContained Metal: 21700000Contained Unit: oz.View all detailsHide details
Identity
- Project
- Santa Ana
- Commodity
- silver
- Region
- colombia
- Reported Region
- Colombia
- Ticker
- OCG
Resource scope
- Estimate type
- resource
- Resource group id
- resource:b7b1a982b292b6718032
- Mining method
- underground
Resource Data
- Category
- indicated
- Tonnes
- 1800000
- Grade
- 376
- Grade Unit
- g/t
- Contained Metal
- 21700000
- Contained Unit
- oz.
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-16T00:00:00.000Z
Reasoning: Strong indicated silver grade and significant metal increase.
Positive factors
- High grade indicated resource
Evidence · text
“1.8 million indicated tonnes grading 376 grams silver per tonne and 1.8 grams gold, containing 21.7 million oz. silver and 104,000 oz. gold”
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
No QP/CP Disclosurenegative
No Qualified Person or Competent Person named — lower credibility for the estimate. A QP/CP should be a member of a recognized professional association with relevant experience.
Why it applies: no Qualified or Competent Person is named anywhere in the release
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
indicatedSanta Ana · goldTonnes: 1800000Grade: 1.8Grade Unit: g/tContained Metal: 104000Contained Unit: oz.View all detailsHide details
Identity
- Project
- Santa Ana
- Commodity
- gold
- Region
- colombia
- Reported Region
- Colombia
- Ticker
- OCG
Resource scope
- Estimate type
- resource
- Resource group id
- resource:b7b1a982b292b6718032
- Mining method
- underground
Resource Data
- Category
- indicated
- Tonnes
- 1800000
- Grade
- 1.8
- Grade Unit
- g/t
- Contained Metal
- 104000
- Contained Unit
- oz.
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-16T00:00:00.000Z
Reasoning: Gold is a significant byproduct in this indicated resource.
Evidence · text
“1.8 million indicated tonnes grading 376 grams silver per tonne and 1.8 grams gold, containing 21.7 million oz. silver and 104,000 oz. gold”
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
No QP/CP Disclosurenegative
No Qualified Person or Competent Person named — lower credibility for the estimate. A QP/CP should be a member of a recognized professional association with relevant experience.
Why it applies: no Qualified or Competent Person is named anywhere in the release
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
inferredSanta Ana · silverTonnes: 2300000Grade: 266Grade Unit: g/tContained Metal: 20100000Contained Unit: oz.View all detailsHide details
Identity
- Project
- Santa Ana
- Commodity
- silver
- Region
- colombia
- Reported Region
- Colombia
- Ticker
- OCG
Resource scope
- Estimate type
- resource
- Resource group id
- resource:42b9f14fe148f3cbe5c7
- Mining method
- underground
Resource Data
- Category
- inferred
- Tonnes
- 2300000
- Grade
- 266
- Grade Unit
- g/t
- Contained Metal
- 20100000
- Contained Unit
- oz.
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-16T00:00:00.000Z
Reasoning: Exceptional growth in inferred silver content.
Positive factors
- Massive increase in inferred silver metal
Evidence · text
“Inferred resources add 2.3 million tonnes grading 266 grams silver and 1.29 grams gold for 20.1 million oz. silver and 98,000 oz. gold.”
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
No QP/CP Disclosurenegative
No Qualified Person or Competent Person named — lower credibility for the estimate. A QP/CP should be a member of a recognized professional association with relevant experience.
Why it applies: no Qualified or Competent Person is named anywhere in the release
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
inferredSanta Ana · goldTonnes: 2300000Grade: 1.29Grade Unit: g/tContained Metal: 98000Contained Unit: oz.View all detailsHide details
Identity
- Project
- Santa Ana
- Commodity
- gold
- Region
- colombia
- Reported Region
- Colombia
- Ticker
- OCG
Resource scope
- Estimate type
- resource
- Resource group id
- resource:42b9f14fe148f3cbe5c7
- Mining method
- underground
Resource Data
- Category
- inferred
- Tonnes
- 2300000
- Grade
- 1.29
- Grade Unit
- g/t
- Contained Metal
- 98000
- Contained Unit
- oz.
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-16T00:00:00.000Z
Reasoning: Significant gold byproduct in inferred resource.
Evidence · text
“Inferred resources add 2.3 million tonnes grading 266 grams silver and 1.29 grams gold for 20.1 million oz. silver and 98,000 oz. gold.”
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
No QP/CP Disclosurenegative
No Qualified Person or Competent Person named — lower credibility for the estimate. A QP/CP should be a member of a recognized professional association with relevant experience.
Why it applies: no Qualified or Competent Person is named anywhere in the release
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
indicatedSanta Ana · silverTonnes: 170000Grade: 397Grade Unit: g/tContained Metal: 2200000Contained Unit: oz. silverView all detailsHide details
Identity
- Project
- Santa Ana
- Commodity
- silver
- Region
- colombia
- Reported Region
- Colombia
- Ticker
- OCG
Resource scope
- Estimate type
- resource
- Resource group id
- resource:c81d537809237119c546
- Deposit or zone
- Los Mangos
- Mining method
- underground
Resource Data
- Category
- indicated
- Tonnes
- 170000
- Grade
- 397
- Grade Unit
- g/t
- Contained Metal
- 2200000
- Contained Unit
- oz. silver
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-16T00:00:00.000Z
Reasoning: Expansion of resource into Los Mangos system.
Positive factors
- New indicated resource at Los Mangos
Evidence · text
“indicated resources of 170,000 tonnes grading 397 grams silver and 1.62 grams gold, containing 2.2 million oz. silver and 9,000 oz. gold.”
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
No QP/CP Disclosurenegative
No Qualified Person or Competent Person named — lower credibility for the estimate. A QP/CP should be a member of a recognized professional association with relevant experience.
Why it applies: no Qualified or Competent Person is named anywhere in the release
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
indicatedSanta Ana · goldTonnes: 170000Grade: 1.62Grade Unit: g/tContained Metal: 9000Contained Unit: oz. goldView all detailsHide details
Identity
- Project
- Santa Ana
- Commodity
- gold
- Region
- colombia
- Reported Region
- Colombia
- Ticker
- OCG
Resource scope
- Estimate type
- resource
- Resource group id
- resource:c81d537809237119c546
- Deposit or zone
- Los Mangos
- Mining method
- underground
Resource Data
- Category
- indicated
- Tonnes
- 170000
- Grade
- 1.62
- Grade Unit
- g/t
- Contained Metal
- 9000
- Contained Unit
- oz. gold
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-16T00:00:00.000Z
Reasoning: Gold byproduct at Los Mangos.
Evidence · text
“indicated resources of 170,000 tonnes grading 397 grams silver and 1.62 grams gold, containing 2.2 million oz. silver and 9,000 oz. gold.”
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
No QP/CP Disclosurenegative
No Qualified Person or Competent Person named — lower credibility for the estimate. A QP/CP should be a member of a recognized professional association with relevant experience.
Why it applies: no Qualified or Competent Person is named anywhere in the release
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
inferredSanta Ana · silverTonnes: 78000Grade: 488Grade Unit: g/tContained Metal: 1200000Contained Unit: oz. silverView all detailsHide details
Identity
- Project
- Santa Ana
- Commodity
- silver
- Region
- colombia
- Reported Region
- Colombia
- Ticker
- OCG
Resource scope
- Estimate type
- resource
- Resource group id
- resource:0142f4afddc505f6b6b3
- Deposit or zone
- Los Mangos
- Mining method
- underground
Resource Data
- Category
- inferred
- Tonnes
- 78000
- Grade
- 488
- Grade Unit
- g/t
- Contained Metal
- 1200000
- Contained Unit
- oz. silver
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-16T00:00:00.000Z
Reasoning: High grade inferred silver at Los Mangos.
Evidence · text
“Inferred resources add 78,000 tonnes at 488 grams silver and 0.76 gram gold, containing 1.2 million oz. silver and 2,000 oz. gold.”
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
No QP/CP Disclosurenegative
No Qualified Person or Competent Person named — lower credibility for the estimate. A QP/CP should be a member of a recognized professional association with relevant experience.
Why it applies: no Qualified or Competent Person is named anywhere in the release
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
inferredSanta Ana · goldTonnes: 78000Grade: 0.76Grade Unit: g/tContained Metal: 2000Contained Unit: oz. goldView all detailsHide details
Identity
- Project
- Santa Ana
- Commodity
- gold
- Region
- colombia
- Reported Region
- Colombia
- Ticker
- OCG
Resource scope
- Estimate type
- resource
- Resource group id
- resource:0142f4afddc505f6b6b3
- Deposit or zone
- Los Mangos
- Mining method
- underground
Resource Data
- Category
- inferred
- Tonnes
- 78000
- Grade
- 0.76
- Grade Unit
- g/t
- Contained Metal
- 2000
- Contained Unit
- oz. gold
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-16T00:00:00.000Z
Reasoning: Gold byproduct at Los Mangos.
Evidence · text
“Inferred resources add 78,000 tonnes at 488 grams silver and 0.76 gram gold, containing 1.2 million oz. silver and 2,000 oz. gold.”
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
No QP/CP Disclosurenegative
No Qualified Person or Competent Person named — lower credibility for the estimate. A QP/CP should be a member of a recognized professional association with relevant experience.
Why it applies: no Qualified or Competent Person is named anywhere in the release
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
How Atlas produces this analysis
Minestarters Atlas uses automated extraction to summarize mining announcements, identify reported measurements, and classify supporting evidence. Sentiment reflects the extracted narrative and classification rules; it is an interpretation, not a reported measurement. Evidence quotes and context are provided where available. Missing data, low-confidence results, and review flags indicate limitations. Check the original publisher announcement before relying on an interpretation.