VANCOUVER: Outback Goldfields Corp. has announced commencement of a Phase 1 exploration program on its highly prospective gold projects located in the historic Victorian goldfields of Australia.
“We are excited to commence a significant exploration program in the heart of the prolific Victorian goldfields. The primary objective of Phase 1 across the project portfolio is gold discovery via systematic target generation followed by drill testing.
Outback has the premier package of tenements both proximate and adjacent to the Fosterville mine. Our technical team is eager to initiate exploration using modern methods,” stated Chris Donaldson, CEO.
Details of Exploration programs:
Two of Outback’s four key assets in the Victorian goldfields will be subject to significant exploration programs starting in Q1 of 2021.
The Glenfine project is centered on a 30 km section of the north-trending, crustal-scale Avoca fault which juxtaposes Cambrian rocks of the Stawell zone to the west with Ordovician rocks of the Bendigo zone to the east.
On the west side of the fault the property is underlain by a 20 km long by ~1 km wide, north-trending, Cambrian aged basalt dome termed the Glenfine Dome where widely spaced historic drilling along its eastern and western margins have outlined numerous occurrences of gold mineralization hosted near the basalt and meta-sediment contact.
High-grade quartz reef-hosted gold mineralization has also been drilled at two primary target areas, the British Banner and Glenfine targets.
Previous operators intersected numerous intervals of significant gold mineralization.
Yeungroon: The western side of the 698 km2 Yeungroon project contains the historic Golden Jacket hard-rock reef mine associated with the regional-scale, northwest-trending Golden Jacket fault which cuts Ordovician rocks of the Stawell Zone. Historic mining records indicate the Golden Jacket mine produced quartz-rich ore with grades of up to 250 g/t Au.
Outback GoldfieldsCorp.is a well financed exploration mining company having recently raised over $11million. The Company has now completed the acquisition of a package of highly prospective gold projects located around the Fosterville Gold Mine in Victoria, Australia and has commenced a Phase 1 exploration program.
The goldfields of Victoria are home to some of the highest grade and lowest cost mining in the world.
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