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Outcrop Gold Provides Update on Exploration Activity at Santa Ana Project and Amends Acquisition Agreement
Vancouver, British Columbia--(Newsfile Corp. - October 30, 2019) - Outcrop Gold Corp. ( TSXV...
About this update from Outcrop Silver & Gold Corporation
[{"type":"text","content":"Outcrop Gold Provides Update on Exploration Activity at Santa Ana Project and Amends Acquisition AgreementVancouver, British Columbia--(Newsfile Corp. - October 30, 2019) - Outcrop Gold Corp. (TSXV: OCG) (\"Outcrop\" or the \"Company\") is pleased to provide an update of work done on the high grade silver-gold Santa Ana project and the Company's plans for a 1,000 m drill program commencing before the end of the year. Drilling and water permits, and surface easements are in place and the Company will use Major Drilling. Man-portable rigs will be used to minimize impact to the environment.The Company has agreed to acquire the Santa Ana project from Cedar Capital Corporation, a private British Columbia company. The acquisition of the Santa Ana project is subject to TSX Venture Exchange approval, including TSXV review of a Technical Report on the project. In anticipation of completion of the acquisition and as part of its technical review of the Santa Ana project, Outcrop has conducted some initial exploration activities on the project including field work and data compilation and review. As part of those activities, Outcrop discovered new veins at the La Ivana target area where six or more subparallel vein zones extend for more than 1 km. The vein zones are inferred to each contain multiple, close-spaced veins. The veins show both high-grade gold and high-grade silver mineralization. Gold assays in the La Ivana target show the highest gold values recognized to date on the project, including values to 42.4 g Au/t with 338 g Ag/t sampled across a 2 m vein and 82.6 g Au/t with 476 g Ag/t in vein float. The unusually high gold values in the La Ivana samples confirm that gold mineralization is zoned or overprinted with respect to silver mineralization and that both high-grade silver as well as is high-grade gold veins provide targets on the Santa Ana project. It is also possible that some gold is present as natural alloys with silver.Outcrop Gold believes Santa Ana is strong high-grade primary silver project, and that the project potential is significantly enhanced by the recently recognized high-grade gold with silver in the veins. Historic colonial mining records, and limited historic drilling and high values in rock samples all indicate exceptional potential for Santa Ana.Field Work Conducted Outcrop exploration work includes mapping...