discovered three new targets returning impressive gold and silver grades at its Santa Ana project, reported Research Capital Corp. analyst Stuart McDougall in an August 23, 2022 research note.
"We think their discovery lends considerable support to our baseline resource expectations," McDougall commented. "We remain impressed by the pace and extent of the vein discoveries at Santa Ana."
Outcrop discovered these northeasterly striking targets along the Frias-La Ye trend during its ongoing mapping, trenching, and geochemical sampling program. McDougall noted all three targets feature a series of parallel and subparallel quartz veins, about 3.45 kilometers' worth in all, available for drill testing.
The analyst also presented some preliminary surface result highlights from each of the three areas.
From La Ye, returned grades include:
- 11.39 g/t gold and 4,043 g/t silver: float sample
- 13.21 g/t gold and 462 g/t silver: float sample
- 2.1 g/t gold and 246 g/t silver: outcropping quartz vein sample
- 5.48 g/t gold and 2,141 g/t silver: sheared wall rock sample
From Los Mangos, returned grades include:
- 1.9 g/t gold and 9,738 g/t silver: historic dump material sample
- 27.71 g/t gold and 1,320 g/t silver: historic dump material sample
- Up to 4.72 g/t gold and up to 4,545 g/t silver: outcropping quartz vein sample
From Topacio, returned grades include:
- 29.63 g/t gold and 83 g/t silver: float sample
- 1,181 g/t silver: outcropping quartz vein sample
- Up to 622 g/t silver: shear zone samples
Research Capital has a Speculative Buy recommendation and a CA$0.75 per share target price on Outcrop, currently trading at around CA$0.18 per share.
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Disclosures For Research Capital Corp., Outcrop Silver & Gold Corp., August 23, 2022
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