Outcrop Silver & Gold Corporation has released an updated mineral resource estimate for its 100%-owned Santa Ana primary silver project in Tolima, Colombia, increasing indicated silver-equivalent resources by 23.5% and inferred resources by 106.3% compared to the 2023 maiden estimate.

The updated estimate incorporates 130,006 metres of drilling across 646 holes, marking an increase of 71,094 metres from the 44,608 metres in 238 holes that underpinned the maiden technical report dated June 8, 2023.

Indicated resources now stand at 29.9 million ounces of silver-equivalent at an average grade of 518.7 grams per tonne, comprising 21.7 million ounces of silver and 0.104 million ounces of gold across 1.79 million tonnes. This compares to the maiden mineral resource estimate of 24.187 million ounces of silver-equivalent across 1.23 million tonnes at 614 grams per tonne.

Inferred resources have grown to 27.9 million ounces of silver-equivalent at 368.5 grams per tonne across 2.35 million tonnes, comprising 20.1 million ounces of silver and 0.098 million ounces of gold. The maiden estimate previously reported 13.5 million ounces of silver-equivalent across 966,000 tonnes at 435 grams per tonne.

The resource classification applied a more rigorous standard than the 2023 estimate by requiring both a defined search distance and a minimum number of supporting drillholes, alongside constraints based on reasonable prospects for eventual economic extraction and mineable shape optimization. The economic parameters utilized metal prices of US$40 per ounce for silver and US$3,100 per ounce for gold, with metallurgical recoveries of 96.3% for silver and 98.5% for gold, resulting in a silver-to-gold equivalency ratio of 79:1.

“Since the Maiden MRE three years ago, Outcrop Silver's exploration team has done an outstanding job of growing contained silver and gold ounces, as well as understanding the geology at the Santa Ana project,” commented Rob Bruggeman, President and CEO. “Mineralization at Santa Ana continues to impress with its high grades, continuity and scale. New vein systems like Guadual and Aguilar have added substantial resources to the Updated MRE, with another dozen veins still to be adequately drill tested and more veins likely to be discovered as exploration continues.”

— Rob Bruggeman, President and CEO

An updated technical report prepared by APEX Geoscience Ltd. in accordance with National Instrument 43-101 will be filed on the company's website and SEDAR+ within 45 days of the September 14, 2026 announcement.

Read the full announcement: OUTCROP SILVER ANNOUNCES UPDATED MINERAL RESOURCE ESTIMATE FOR THE SANTA ANA PRIMARY SILVER PROJECT