Outcrop Silver Commences 2024 Santa Ana Drill Program
OUTCROP SILVER COMMENCES 2024 SANTA
ANA DRILL PROGRAM
Drilling at El Dorado— Outcrop Silver Commences 2024 Santa Ana Drill Program (CNW
Group/Outcrop Silver & Gold Corporation)
VANCOUVER, BC
,
April 9, 2024
/CNW/ -
Outcrop Silver & Gold Corporation
(TSXV: OCG)
(OTCQX: OCGSF) (DE:MRG)
("Outcrop Silver")
is pleased to announce the commencement of
our 2024 drilling program at the 100% owned Santa Ana high-grade silver project in
Colombia
,
initiated on
April 5th
. This pivotal initiative marks the start of a comprehensive exploration effort
aimed at not only amplifying mineralization at our existing targets but also uncovering new prospects
within the project's expansive 18.5-kilometre area that has received drilling permission.
"Launching our 2024 drilling program at Santa Ana, we aim to fully unlock the potential of this
distinctive high-grade, primary silver project. By targeting both established and new areas, we're
poised to showcase Santa Ana's scalability and Outcrop's significant leverage to the improving silver
market," comments
Ian Harris
, President and CEO. "Concurrently, we're advancing our metallurgical
work to highlight the project's uniqueness, characterized by high recovery rates and a highly
marketable concentrate. We're also committed to safeguarding shareholder value by implementing
robust defenses against predatory trading practices, ensuring the integrity of our trading
environment."
Our strategy for this year's drill program is designed to underscore the scalability of the Santa Ana
project and its significant potential for resource expansion. By leveraging our technical expertise and
deep understanding of the region's geology, we aim to unlock the full value of this high-grade silver
project.
Drilling at El Dorado— Outcrop Silver Commences 2024 Santa Ana Drill Program (CNW
Group/Outcrop Silver & Gold Corporation)
Please view the
video
showcasing the initiation of drilling at Santa Ana.
For further details on the drill campaign, please see the press release titled
"Outcrop Silver Announces 2024 Santa Ana Drill Program"
dated
March 18, 2024
.
Marketing Service Engagement
Further to our press release issued
July 26, 2023
, Outcrop Silver has extended the previous
marketing services agreement with
Robert Sinn
, whereby fees of
US$10,000
will be paid on
April
12, 2024
, and
US$10,000
in
October 2024
. The services were extended for twelve (12) months
from
April 2024
to
April 2025
. The services include featured articles on Outcrop Silver, interviews
and coverage of news flow on social media.
Robert Sinn
is at arm's length to Outcrop Silver, and
neither holds any securities of Outcrop Silver nor has any interest, direct or indirect, in the company.
About Santa Ana
The 100% owned Santa Ana project comprises 27,000 hectares, including titles and applications,
110 kilometres from
Bogota, Colombia
. Santa Ana consists of regional-scale parallel vein systems
covering a majority of the Mariquita District. The Mariquita District is
Colombia's
highest-grade
primary silver district, where mining records date to at least 1585, with historic silver grades
reported to being among the highest in
Latin America
from dozens of mines.
Santa Ana maiden resource estimate contains an estimated indicated resource of 24.2 million
ounces silver equivalent at a grade of 614 grams per tonne silver equivalent and an inferred mineral
resource of 13.5 million ounces silver equivalent at a grade of 435 grams per tonne silver equivalent,
based on the NI 43-101 Technical Report titled "Santa Ana Property Mineral Resource Estimate,"
dated
June 8, 2023
, and prepared by AMC Mining Consultants. The resource is comprised of the
seven vein systems (commonly containing multiple parallel veins and multiple ore shoots) discovered
to date – 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.
Veins with similar high grade and thickness exist along strike toward the south, forming a high-grade
silver enriched trend that extends for 30 kilometres. Outcrop Silver's exploration team has identified
numerous additional veins based on high-grade samples from outcrop and historical workings that
have yet to be drill-tested. Outcrop Silver remains focused on identifying and drilling new vein targets
with high-grade potential, and adding substantially derisked mineralized silver-bearing veins that will
increase the published maiden resource.
About Outcrop Silver
Outcrop Silver is advancing the Santa Ana high-grade silver deposit with exploration activities aiming
to expand the current mineral resource. Santa Ana is being advanced by a highly disciplined and
seasoned professional team with decades of experience in
Colombia
.
ON BEHALF OF THE BOARD OF DIRECTORS
Ian Harris
Chief Executive Officer
+1 604 294 9039
www.outcropsilverandgold.com
Kathy Li
Vice President of Investor Relations
+1 778 783 2818
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
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 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 will not update any
forward-looking statements or forward-looking information that are incorporated by reference
SOURCE
Outcrop Silver & Gold Corporation
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%SEDAR: 00005232E
For further information:
Ian Harris, Chief Executive Officer, +1 604 294 9039,
[email protected], www.outcropsilverandgold.com; Kathy Li, VP Investor Relations,
+1 778 783 2818, [email protected]
CO: Outcrop Silver & Gold Corporation
CNW 07:00e 09-APR-24