Cascada Vein Drilling Intercepts 1.37 m (0.74 m ETW) grading 1,084 g/t AgEq1, including 0.30 m (0.16 m ETW) grading 4,725 g/t AgEq
VANCOUVER, BC, Oct. 21, 2026 /CNW/ -- Outcrop Silver & Gold Corporation (TSX: OCG) (OTCQX: OCGSF) (DE: MRG) ("Outcrop Silver" or the "Company") is pleased to announce new drilling results from the northern extension of its Santa Ana primary silver project in Tolima, Colombia. Recent drilling has confirmed the northward continuity of the Santa Ana vein system, establishing a structural connection with the Alaska vein, previously interpreted as an independent structure. The ongoing drilling program has also progressively identified and delineated the Cascada vein, a mineralized structure subparallel to Alaska and located in its footwall, including high-grade silver intercepts. These results strengthen the Company's geological understanding of the northern Santa Ana corridor and highlight potential opportunities for future Mineral Resource estimate ("MRE") growth, particularly within the Alaska vein, which was not included in the September 2026 MRE. Drilling continues at Santa Ana, with four diamond drill rigs active and multiple assays pending.
Figure 1. Plan view of the Alaska vein showing the drill holes reported in this release (Table 1). Coordinates are in the UTM system, zone 18N, and WGS84 projection.
Figure 2. Geological cross-section A showing the Alaska and Cascada veins. The cross-section’s width is 100 metres.
Lengths are downhole and do not represent estimated true widths.
Figure 3. Plan view of Santa Ana vein showing the drill holes reported in this release (Table 2). Coordinates are in the UTM system, zone 18N, and WGS84 projection.
Figure 4. Geological cross-section B showing the Santa Ana vein system. The cross-section’s width is 100 metres.
Lengths are downhole and do not represent estimated true widths.
Figure 5. Longitudinal section of the Santa Ana vein showing drill pierce points. Contours represent the interpolation of grade (AgEq g/t) multiplied by estimated true width (m) using the Spline algorithm in QGIS for visualization purposes only and not representative of a mineral resource estimate. Santa Ana historic adits are shown for illustrative purposes based on historical documentation and do not represent a surveyed topographic record of the underground workings.
Highlights
Santa Ana Vein System Extended Northward: Recent drilling confirms the northward continuation of the Santa Ana vein system, extending known structural and mineralized continuity to a total strike length approaching 3 kilometres (Figure 5).
High-Grade Mineralization Intersected North of Shoot 7: Drill hole DH670 intersected 1.90 metres ("m") (1.02 m estimated true width ("ETW")) grading 270 g/t silver-equivalent1 ("AgEq"), including 0.30 m (0.16 m ETW) grading 1,017 g/t AgEq, approximately 300 m north of Shoot 7 (see details in Table 1).
Alaska Connected to the Santa Ana Vein System: New drilling results and geological interpretation indicate that Alaska, previously considered an independent vein, represents the northern continuation of the Santa Ana structure. Significant drill intercepts include 3.43 m (1.26 m ETW) grading 307 g/t AgEq in DH665 and 8.39 m (3.61 m ETW) grading 241 g/t AgEq in DH685, including 0.32 m (0.14 m ETW) grading 4,735 g/t AgEq.
Delineation of Cascada vein: The Cascada vein is a mineralized structure subparallel to Alaska and located in its footwall. Drill hole DH687 intersected 1.37 m (0.74 m ETW) grading 1,084 g/t AgEq, including 0.30 m (0.16 m ETW) grading 4,725 g/t AgEq, highlighting the potential for additional mineralized structures within the northern Santa Ana corridor.
"These drill results demonstrate the continued progress of our exploration strategy at Santa Ana, building on the resource growth opportunities outlined in our September 2026 MRE update. By confirming the northern continuity of the Santa Ana vein system and establishing its connection with Alaska, we are advancing a previously unmodeled area toward becoming a potential contributor to future MRE updates. The identification of the Cascada vein further highlights the exploration potential of this mineralized corridor. Additionally, the high-grade intercept approximately 300 m north of Shoot 7 reinforces our confidence in the evolving geological model and its ability to guide exploration toward prospective areas. Our focus remains on systematically advancing these targets through drilling and geological interpretation to support the next phase of resource growth at Santa Ana." commented Carlos Torres, Vice President of Exploration.
Hole ID
From (m)
To (m)
Interval (m)
Estimated True Width (m)
Ag g/t
Au g/t
AgEq g/t
Vein
DH658
Weakly Mineralized
Alaska
DH658
163.71
165.81
2.10
0.84
148
1.08
233
Cascada
DH663
Weakly Mineralized
Alaska
DH665
167.74
171.17
3.43
1.26
258
0.62
307
Alaska
Including
170.22
171.17
0.95
0.35
612
0.43
646
Alaska
DH665
Weakly Mineralized
Cascada
DH668
Weakly Mineralized
Alaska
DH672
178.67
178.98
0.31
0.11
21
8.91
728
Splay
DH672
185.38
187.63
2.25
0.80
18
2.26
197
Alaska
Including
187.18
187.63
0.45
0.16
33
10.34
853
Alaska
DH676
Weakly Mineralized
Alaska
DH679
Weakly Mineralized
Alaska
DH679
198.10
198.40
0.30
0.16
174
1.45
288
Cascada
DH683
Weakly Mineralized
Alaska
DH685
197.53
205.92
8.39
3.61
226
0.20
241
Alaska
Including
197.53
197.85
0.32
0.14
4621
1.44
4735
Alaska
And
205.47
205.92
0.45
0.19
537
0.35
564
Alaska
DH687
202.67
205.90
3.23
1.52
120
0.84
187
Alaska
Including
202.67
203.29
0.62
0.29
497
0.55
540
Alaska
DH687
231.21
232.58
1.37
0.74
965
1.50
1084
Cascada
Including
231.77
232.07
0.30
0.16
4275
5.68
4725
Cascada
Table 1. Drill hole assay results reported in this release for the Alaska and Cascada veins. Weakly Mineralized result means an intercept lower than 100 g/t AgEq1
Santa Ana Vein Connection to Alaska Vein and Identification of Parallel Cascada Vein
Recent drilling along the northern extension of the Santa Ana vein system has established the structural connection with the Alaska vein, previously interpreted as an independent mineralized structure. The results confirm the presence of silver-gold mineralization along this northern continuation, including hole DH665, which intersected 3.43 m (1.26 m ETW) grading 307 g/t AgEq, and DH685, which returned 8.39 m (3.61 m ETW) grading 241 g/t AgEq, including 0.32 m (0.14 m ETW) grading 4,735 g/t AgEq. Additional mineralized intercepts in DH672 and DH687 further demonstrate mineralization within the Alaska structure. Together with the updated geological interpretation, these results advance Alaska as a target for potential inclusion in future MRE updates.
In addition to confirming the northern continuity of the Santa Ana-Alaska vein system, ongoing drilling has progressively identified and refined the geological interpretation of the Cascada vein, a mineralized structure subparallel to Alaska and located in its footwall. Significant results include DH687, which intersected 1.37 m (0.74 m ETW) grading 1,084 g/t AgEq, including 0.30 m (0.16 m ETW) grading 4,725 g/t AgEq, and DH658, which returned 2.10 m (0.84 m ETW) grading 233 g/t AgEq. These intercepts demonstrate additional silver-gold mineralization within the northern Santa Ana corridor, highlighting the potential for multiple mineralized structures beyond the main Alaska vein. Continued drilling and geological interpretation will focus on improving the understanding of Cascada's geometry, mineralized continuity, and exploration potential.
1Silver Equivalent
Metal prices used for equivalent calculations were US$3,100/oz for gold, and US$40/oz for silver. Metallurgical recoveries based on Outcrop Silver's metallurgical test work are 98.5% for gold and 96.3% for silver (see news release dated June 25, 2024). The equivalency formula is as follows:
Hole ID
From (m)
To (m)
Interval (m)
Estimated True Width (m)
Ag g/t
Au g/t
AgEq g/t
Vein
DH659
Weakly Mineralized
Santa Ana
DH662
Weakly Mineralized
Santa Ana
DH666
221.43
224.31
2.88
1.56
112
0.27
134
Santa Ana
Including
222.04
222.70
0.66
0.36
325
0.42
358
Santa Ana
DH670
232.20
234.10
1.90
1.02
221
0.62
270
Santa Ana
Including
233.80
234.10
0.30
0.16
848
2.14
1017
Santa Ana
DH674
Weakly Mineralized
Santa Ana
DH677
Weakly Mineralized
Santa Ana
Table 2. Drill hole assay results reported in this release for the Santa Ana vein. Weakly Mineralized result means an intercept lower than 100 g/t AgEq1
Santa Ana Vein Drilling and Repetition of Mineralized Shoots
Drilling along the northern extension of the Santa Ana vein continues to provide valuable geological information, confirming the persistence of the mineralized structure and identifying additional zones of silver-gold mineralization beyond previously explored areas. Recent results include drill hole DH666, which intersected 2.88 m (1.56 m ETW) grading 134 g/t AgEq, including 0.66 m (0.36 m ETW) grading 358 g/t AgEq, and DH670, which returned 1.90 m (1.02 m ETW) grading 270 g/t AgEq, including a high-grade interval of 0.30 m (0.16 m ETW) grading 1,017 g/t AgEq. Particularly noteworthy is the location of DH670, approximately 300 m north of Shoot 7, at a distance consistent with the approximately 300 to 400 m spacing between mineralized shoots highlighted in the Company's previous exploration update for Santa Ana Vein System (see news release dated Sep. 3, 2026).
Both DH666 and DH670 intersected mineralization at elevations comparable to those of Shoot 7, suggesting a prospective area for further exploration along the northern continuation of the vein. However, drilling in this sector has so far been limited to a relatively narrow elevation range, with no deeper drilling or sufficient additional intercepts to evaluate the potential development, geometry, or vertical continuity of a mineralized shoot. Consequently, the possibility of an additional high-grade shoot remains open and represents an opportunity for future exploration. While some drill holes have intersected weakly mineralized portions of the structure, the results collectively demonstrate the persistence of the vein system and the variable distribution of silver-gold mineralization along its northern extension.
Summary
The ongoing exploration program along the northern extension of Santa Ana continues to demonstrate the potential of the broader vein system through the confirmation of structural continuity, the recognition of additional mineralized structures, and the identification of prospective areas for further exploration. The connection between Santa Ana and Alaska represents an important advancement in the Company's geological understanding of the district, while the progressive identification of Cascada highlights the potential for additional mineralized veins within the corridor.
Building on the September 2026 MRE update, Outcrop Silver remains focused on systematically advancing targets beyond the current resource inventory through continued drilling and geological interpretation. The immediate priority is to further evaluate the northern continuity of the system and advance Alaska toward potential inclusion in a future MRE update, while maintaining opportunities to investigate additional high-grade mineralized shoots and parallel structures as exploration progresses.
Hole ID
Hole Code
Easting (m)
Northing (m)
Elevation (m)
Depth (m)
Azimuth (º)
Dip (º)
DH658
SASN26DH658
506596.2
567742.552
847.506
182.6
34
-66
DH659
SAGNB26DH659
506396.587
566699.292
858.018
180.13
133
-46
DH662
SAGNB26DH662
506396.754
566699.999
858.157
234.08
119
-66
DH663
SASN26DH663
506597.235
567740.817
847.293
201.47
152
-66
DH665
SASN26DH665
506597.576
567741.599
846.852
215.79
97
-80
DH666
SAGNB26DH666
506396.827
566701.137
858.06
248.01
77
-70
DH668
SASN26DH668
506590.675
567775.02
859.604
158.8
60
-58
DH670
SAGNB26DH670
506396.228
566701.718
858.26
250.24
43
-56
DH672
SASN26DH672
506590.675
567775.02
859.604
262.73
60
-82
DH674
SAGNB26DH674
506390.105
566945.52
858.06
215.37
95
-45
DH676
SASN26DH676
506575.014
567617.978
838.929
172.66
128
-51
DH677
SAGNB26DH677
506389.235
566944.781
848.92
254.38
124
-54
DH679
SASN26DH679
506575.48
567618.668
838.172
210
103
-72
DH683
SASN26DH683
506573.779
567617.726
839.369
175.77
154
-50
DH685
SASN26DH685
506573.484
567618.218
839.254
216.01
154
-65
DH687
SASN26DH687
506575.258
567618.931
839.391
251.15
103
-80
Table 3. Collar and survey table for drill holes reported and referred to in this release. All coordinates are UTM system, Zone 18N, and WGS84 projection.
Qualified Person
The technical information presented in this news release has been reviewed and approved by Carlos Torres, P.Geo., Vice President of Exploration for Outcrop Silver and the Qualified Person for exploration at the Santa Ana Project, as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects ("NI 43-101").
QA/QC
Outcrop Silver applied its standard protocols for sampling and assay for exploration activities. Core diameter is a mix of HTW and NTW, depending on the drill hole depth. Diamond drill core boxes were photographed, sawed, sampled, and tagged. Samples were bagged, tagged, and packaged for shipment by truck from Santa Ana's core logging facilities in Falan, Colombia to the Actlabs certified sample preparation facility in Medellin, Colombia. Actlabs is an accredited laboratory independent of the Company. HQ-NTW core is sawn with one-half shipped. Samples delivered to Actlabs were AA assayed on Au, Ag, Pb, and Zn at Medellin using 1A2Au, 1A3Au, Multi-elements AR (Ag Cu Pb Zn), and Code 8 methods. Then, samples were sent to Actlabs Canada in Ancaster, Ontario, for ICP multi-elemental analysis under code 1E3. In line with QA/QC best practices, blanks, duplicates, and certified reference materials are inserted into the sample stream at approximately 3 control samples every 20 samples to monitor laboratory performance. A comparison of control samples and their standard deviations indicates acceptable assay accuracy and no detectable contamination. No material QA/QC issues have been identified with respect to sample collection, security, and assaying. The samples are analyzed for gold and silver using a standard fire assay on a 30-gram sample with a gravimetric finish for over-limits. Multi-element geochemistry was determined by ICP-MS using either aqua regia or four acid digestions. Crush rejects, pulps, and the remaining core are stored in a secured facility at Santa Ana for future assay verification.
About Santa Ana
The 100%-owned Santa Ana project spans approximately 28,000 hectares, encompassing both titles and applications, within the Mariquita District, the largest and highest-grade primary silver district in Colombia, with mining records dating back to 1585.
Santa Ana's updated resource estimate effective September 10, 2026, detailed in news release dated Sep. 14, 2026, prepared by APEX Geoscience Ltd., indicates an estimated Indicated resource of 1,793 thousand tonnes containing 29.9 million ounces silver-equivalent ("AgEq"1) at a grade of 519 g/t AgEq (376 g/t Ag and 1.80 g/t Au) and an Inferred resource of 2,352 thousand tonnes containing 27.9 million ounces AgEq at a grade of 368 g/t AgEq (266 g/t Ag and 1.29 g/t Au). The identified resources span thirteen major vein systems that include multiple parallel veins and mineralized shoots. The technical report prepared by APEX in accordance with NI 43-101 will be filed on the Company's website and SEDAR+ by the end of October 2026.
The ongoing 35,000-metre drill campaign has extended known mineralization and tested additional target areas within the 17-kilometre-long fully titled mineralized corridor at the Santa Ana Project. Additional drilling will focus on growing mineral resources within the known vein systems while also testing new vein systems. Since initial drilling in 2019, the Company has a track record of discovering new high-grade vein systems on a regular basis.
About Outcrop Silver
Outcrop Silver is rapidly advancing its flagship Santa Ana primary silver project in Colombia. Leveraging a disciplined and seasoned team of professionals with decades of experience in the region, Outcrop Silver is focused on expanding high-grade silver and gold mineral resources while advancing the Santa Ana project towards potential production.
At the core of our operations is a commitment to responsible mining practices and community engagement, underscoring our approach to sustainable development. With a deep understanding of the Colombian mining landscape and a proven track record of successful exploration, Outcrop Silver is well-positioned to advance the Santa Ana primary-silver project, while making a positive contribution to the local economy.
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 Silver to be materially different from those expressed or implied by such forward-looking statements or forward-looking information, including: statements relating to the potential opportunities for future MRE growth; the use of the September 2026 MRE for the development of an updated technical report; the receipt of all necessary regulatory approvals, capital expenditures and other costs, financing and additional capital requirements, 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 Silver has 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 Silver will not update any forward-looking statements or forward-looking information that are incorporated by reference.
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