Outcrop drills 2,032 g/t AgEq over 2.4 metres at Santa Ana, Colombia

Outcrop Silver & Gold Corp. [OCG-TSXV; OCGSF-OTCQX; MRG1-DE] reported results of nine core holes designed to test the continuity at depth of the Las Maras shoot on its 100%-owned, high-grade Santa Ana silver project in Colombia. Twenty-three holes have been drilled at Las Maras to date. Thirteen holes returned high-grade assays; two holes have assays that are pending.

The Las Penas vein in the Las Maras shoot has an average estimated true width of 1.6 metres, with a weighted average grade of 1,161 g/t AgEq (silver equivalent). Significantly, recent drilling extends the Las Maras shoot to 370 m depth, the deepest high-grade mineralization drilled to date on the Santa Ana project. This compares with an average drill depth of only 170 metres on 12 other ore shoots. Potential resource areas may be more than doubled by relatively low-risk, deeper drilling offsetting known shallower, high-grade mineralization. Importantly, the limit to high-grade mineralization at depth within the Santa Ana vein systems is open.

Recent drilling at Las Maras extends high-grade mineralization to 370 metres in depth, the deepest mineralization drilled to date on the property.

Twelve other ore shoots are only drilled to an average of 170 metres depth, indicating that these potential resources could be more than doubled if they also extend to 370 metres or more.

DH294 intersected 2.14 metres true width of 2,032 g/t AgEq. DH292 intersected 4.4 metres true width of 563 g/t AgEq, including 0.4 metres of 5,109 g/t AgEq and 0.37 metres of 846 g/t AgEq. DH300 intersected 3.82 metres true width of 537 g/t AgEq.

Strong silver sulphide in core from additional drill holes with assays pending from Las Maras suggests mineralization may continue at depth below 370 metres.

“We are thrilled with our most recent drill results at Las Maras, with very robust vein interceptions extending high grade,” commented Guillermo Hernandez, vice-president of exploration. “The deeper Las Maras delineation program shows encouraging visual results of abundant silver sulphide in core pending assays, which suggests high-grade mineralization will continue at depth.”

“Las Maras results are encouraging in the context of our year-end compliant resource,” commented Joseph P. Hebert, CEO. “With an average vein true thickness of 1.6 metres that compares to the possible use of engineered long-hole stopes of 1.5 metres in the resource report, external dilution of the Las Maras veins that have a weighted average grade of 1,162 g/t AgEq may substantially be controlled. The depth of mineralization drilled in Las Maras indicates potential to expand all shoots in the resource area up to 117% by volume with just deeper drilling, which will be completed early in 2023.”

Twenty-three drill holes have been completed at Las Maras to date. Thirteen holes returned high-grade assays; two holes have assays pending. The drill program at Las Maras continues with additional delineation holes to offset DH301 and DH302 at depth. Both of these drill holes show silver sulphide mineralogy in core.

Las Maras comprises two northerly trending, parallel veins and the main northeast-trending Las Penas vein. The Las Penas vein shows wide alteration halos with quartz stringers and fault gouge. All three veins show continuity and may contribute to the planned compliant resource to be published in 2022.

Outcrop Silver & Gold is rapidly advancing the high-grade Santa Ana silver discovery with continuing expansion drilling and an initial resource to be released in the coming months. Outcrop is also progressing exploration on four gold projects with world-class discovery potential in Colombia.