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.
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
harris@outcropsilver.com
www.outcropsilverandgold.com
Kathy Li
Vice President of Investor Relations
+1 778 783 2818
li@outcropsilver.com
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