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    OCG   CA69002Q1054

OUTCROP SILVER & GOLD CORPORATION

(OCG)
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Outcrop Silver & Gold Corporation Announce Results from Surface Sampling and Mapping That Extends Seven Veins Up to 1,000 Metres to the North of the Northernmost El Dorado Discovery

09/07/2021 | 09:27am EDT

Outcrop Silver & Gold Corporation announced results from surface sampling and mapping that extends seven veins up to 1,000 metres to the north of the northernmost El Dorado discovery. Additionally, recent prospecting generated the Maras target, where a vein filled shear zone a metre wide was developed by historic workings and contains a large field of high-grade vein float that extends for a distance of over 200 metres. Espiritu Santo and Maras are inferred to occur on separate converging north northeast and northeast vein zones 1,100 metres south of the San Antonio discovery. Exploration continues to successfully grow the scale of the Santa Ana project. Highlights: Santa Ana vein system extended for 1,000 metres to the north of El Dorado shoot and 1,100 metres to the south of San Antonio shoot for a 35% increase in area of well- defined veins. With new extensions, the surface footprint of mapped veins is 2 kilometres wide by 6 kilometres long. Seven veins extended to north include the El Dorado vein with surface assays up to 3,086 grams silver equivalent per tonne. New Maras target west of the Espiritu Santo target (both 1,100 metres south of the San Antonio discovery) shows high values to 2,087 grams silver equivalent per tonne within an area of vein float and sub-crop over 200 metres long. The entire project has over 60 kilometres of vein projections to explore. Drilling has been conducted on less than 10% of the project. North Extension of Santa Ana Vein System: Mapping of historic workings and gridded soil sampling show a continuation to the north of seven veins and subparallel vein sets. These include from west to east, two of three splays of El Dorado, La Porfia (that hosts La Ivana), the Miraflores and the main Santa Ana vein group. These newly discovered vein segments extend up to 1,000 metres from the northernmost El Dorado discovery. Related prospecting shows numerous vein and float samples over 500 g Ag/t up to 3,086 g Ag/t. The veins are all open to the north. New Maras Target: The new Maras target is 300 metres west of Espiritu Santo and 1,100 metres south of the San Antonio discovery. Maras and Espiritu Santo is inferred to occur on two converging vein structures and one or both veins continue to Mina Cristo another kilometre to the south. Maras shows a vein filled shear zone and a large field of high-grade vein float that extends for over 200 metres. Values at Maras show a high of 2,067 grams equivalent silver per tonne in vein float. Exploration Update: Outcrop has completed 25,000 metres in 151 holes on the Santa Ana project. Six large high-grade shoots have been discovered and numerous high-quality targets generated. Currently, 12,000 metres of drilling is underway as part of Phase 3 and is expected to continue into 2022. The objective of current drilling is to discover six additional high-grade shoots on the property and to further delineate the six previously discovered shoots along strike and depth. The weighted average grade from 95 drill holes with significant intercepts is 1,508 g eq Ag/t. The El Dorado, La Ivana, Megapozo, San Juan, Roberto Tovar and San Antonio shoots provide a combined potential resource area of approximately 1,500 metres long by 300 metres depth. Deeper drilling suggests that the San Juan, Roberto Tovar, and San Antonio shoots may merge into one continuous zone of mineralization over 1,200 metres long. The spacing between discoveries suggests a periodicity of 400 to 500 metres between high-grade shoots along veins and faults. Exploration work will continue to focus on the regional potential at Santa Ana, as well as the core project area where drilling has occurred. Current drilling shows approximately 17 cumulative kilometres of veins which occur within an area of 30 kilometres by 12 kilometres. Drilling has only been conducted in an area that represents less than 10% of the project. Compilations of workings and sampling by Ingeominas (former Colombian Geological Survey) show over 60 kilometres of vein projections to explore.


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Financials
Sales 2020 - - -
Net income 2020 -5,03 M -4,06 M -4,06 M
Net cash 2020 5,96 M 4,81 M 4,81 M
P/E ratio 2020 -8,39x
Yield 2020 -
Capitalization 25,9 M 21,0 M 20,9 M
EV / Sales 2019 -
EV / Sales 2020 -
Nbr of Employees 12
Free-Float 67,0%
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Managers and Directors
Joseph P. Hebert President, Chief Executive Officer & Director
Lisa Peterson Chief Financial Officer
Ian Paul Slater Executive Chairman
Kevin Nishi Independent Director
Jay Edward Sujir Independent Director
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