Outback Goldfields Defines Multiple New GOLD Targets at the Glenfine Project, Victoria
OUTBACK GOLDFIELDS DEFINES MULTIPLE
NEW GOLD TARGETS AT THE GLENFINE
PROJECT, VICTORIA
(TSX.V: OZ, OTCQB: OZBKF, FSE: S600)
VANCOUVER, BC
,
Dec. 18, 2023
/CNW/ -
Outback Goldfields Corp
. (the "
Company
" or
"
Outback
") (TSXV: OZ) (OTCQB: OZBKF) is pleased to provide an update on exploration activities
across its Glenfine project in the heart of the Victorian goldfields of
Australia
.
Highlights
High-grade gold potential:
Review of recently acquired LiDAR data led to the identification of
historic workings where samples of quartz reefs returned up to 9.4 g/t gold.
Underexplored project:
Soil sampling has outlined additional targets in areas lacking previous
exploration.
Target-rich project:
The new targets complement a portfolio of high-priority targets in the
heart of the Victorian goldfields.
"Following the definition of the 3 km long O'Connors target at Yeungroon, we shifted focus to target
generation across our other gold projects," commented
Chris Donaldson
, CEO. "At Glenfine, we
defined two new targets that warrant additional groundwork to advance them to drill-ready stage.
We look forward to evaluating these targets at Glenfine as well as planning the next steps at
Yeungroon to fully advance the O'Connors trend."
Glenfine Exploration
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 project 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 (e.g.,
17.3 m
at 2.66 g/t Au
including
1.3 m
at 10.65 g/t Au and
0.8 m
at 9.31 g/t Au; see
May 19
th
, 2021 news release). Areas
north of the Glenfine Dome are underexplored yet are underlain by favorable geology with numerous
documented historic mine shafts centered on quartz-reefs.
Based on a review of recently published government-funded LiDAR data, numerous historic
workings/disturbances, not previously documented in government Mines and Mineral Occurrences
datasets, were identified across the Glenfine project. One area, located near the northwest extent
of the tenements, near the historic
Cherry Hill
and Oakleigh Co. shafts, was prioritized for
systematic mapping and prospecting. Sampling of quartz veins exposed in multiple historic test pits
and trenches as well as from nearby mullock piles returned results of up to 9.7 g/t Au. The highest-
grade sample was collected along strike from the Oakleigh Co. main shaft. Prospecting nearby also
resulted in the collection of a 2.04 g gold nugget down hill of the workings (Figure 1). The target
area, known as Linton, has not been previously drilled and represents a new target that warrants
follow-up including expanded soil grids and further rock sampling.
Table 1
Selected grab sample result highlights
SAMPLE
Easting
Northing
Au (g/t)
Description
OZC00954
728156
5826416
9.70
Quartz veining in shallow test pit
OZC00953
728157
5826416
7.33
Quartz veining in shallow test pit
OZC00956
728158
5826462
4.47
Quartz spur vein
OZC00929
728156
5826412
4.31
Quartz
OZC00955
728151
5826459
1.98
Quartz spur vein
OZC00957
728071
5826341
0.94
Quartz veining in shallow test pit
OZC00930
728131
5826361
0.93
Quartz from mullock on hill
OZC00944
731522
5823672
0.90
Oxidised quartz and sediment from mullock dump
OZC00934
728454
5826013
0.70
Quartz from mullock dump
OZC00931
728126
5826297
0.22
Quartz from shallow workings down hill
Easting and Northing co-ordinates given in GDA94 zone 54
A reconnaissance-style soil sampling program is also underway to better define the geochemical
footprint of the Linton target area. The initial focus for this program is pathfinder element
geochemical concentrations (e.g., arsenic). The relationship between gold mineralization and
disseminated arsenopyrite and high-arsenic contents in host rocks peripheral to gold-bearing quartz
reefs and also within overlying soils is well established throughout the Victorian Goldfields (e.g., Arne
et al., 2008) and has been used to focus exploration and vector to high-grade mineralization.
An open zone of high-arsenic soil anomalism is spatially associated with the Linton quartz-reef trend
(Figure 1), which suggests that arsenic is a suitable pathfinder for Linton-style gold mineralization.
Soil sampling east of the Linton trend has also identified a new zone of high arsenic anomalism, open
to the north, that covers over
300 m
of strike length. Systematic rock sampling, tighter soil grids and
mapping is planned across this new target area to further investigate the gold prospectivity of the
arsenic geochemical anomaly.
Figure 1
Linton target area showing rock and soil data as well as photo of 2.04 g gold nugget. (CNW
Group/Outback Goldfields Corp.)
The new Glenfine targets together with the established Reef 2 to Glenfine South corridor and British
Banner targets, will be ranked against other drill targets across the Company's project portfolio,
including Yeungroon and Silver Spoon. Drilling will be planned to test the best targets.
Data Collection, Verification and QA/QC
Rock Chip samples were collected from selected locations on surface considered based on the
geologists experience to have good prospects of mineralisation. Sample collection was completed
alongside detailed local geological mapping, carried out in the field by company geologists. This
included sample lithologies, colour, quartz veining and mineral observations, and was completed
concurrent with sampling. All samples were transported from the drill site to the Company's
exploration office in Ballarat by Outback staff.
Rock chip samples were submitted to the SGS Assay Laboratory in Orange (NSW) to be analysed
for gold using fire assay analysis. Entire samples were pulverised using an LM5 pulveriser ensuring
that 90% of the sample was ground to less than 75 μm before 30g subset was taken for fire assay
analysis.
Soil samples were collected using a handheld auger with samples collected nominally from the
interface between the "B" and "C" Soil horizons. Approximately 100g of sample was collected for
analysis. Analysis of soil samples collected in chip trays was carried out using an Olympus Vanta
portable XRF. Analysis was carried out in "Geochem mode" running three beams for a total of 30
seconds each.
For both portable XRF analysis and Fire Assay analysis, QA/QC protocols involved the insertion of
Certified Reference materials at a minimum rate of 1 for every 50 samples tested. Reference
material was routinely tested with the portable XRF for arsenic concentrations and the results were
deemed acceptable for the scope of the exploration program and specifically identifying anomalous
results above background levels.
The Qualified Person has supervised all stages of the exploration program relevant to this news
release. This includes regular visits to the project site to supervise mapping and sample collection
practices. The qualified person also supervised the analysis of Samples using the portable XRF and
performed a number of impromptu laboratory audits at the Gekko Assay laboratory.
Community Engagement
Outback recognises the importance of open and honest community engagement in all our exploration
activities. We approach all our exploration activities in a sustainable manner and ensure our activities
comply with the Victorian Code of Practice for Mineral Exploration. As such, community consultation
with local landowners has commenced and is ongoing.
National Instrument 43-101 Disclosure
This news release has been approved by Mr.
Matthew Hernan
(FAusIMM(CP), MAIG) an
independent consultant and "Qualified Person" as defined in National Instrument 43-101,
Standards
of Disclosure for Mineral Projects
of the Canadian Securities Administrators.
References
Arne, D.C., House, E., and Lisitsin, V., 2008, Lithogeochemical haloes surrounding central Victorian
gold deposits: Part 1
– Primary alteration, Geoscience Victoria Gold Undercover Report
4, 95 p.
About Outback Goldfields Corp.:
Outback Goldfields
Corp.
is a mineral exploration company that is exploring its package of highly
prospective gold projects located around the Fosterville Gold Mine in
Victoria, Australia
. The
goldfields of
Victoria
are home to some of the highest grade and lowest cost mining in the world.
~signed
Chris Donaldson
, CEO and Director
CAUTIONARY NOTE REGARDING FORWARD LOOKING STATEMENTS
This news release includes certain "forward-looking statements" and "forward-looking information"
under applicable Canadian securities legislation that are not historical facts. Forward-looking
statements involve risks, uncertainties, and other factors that could cause actual results,
performance, prospects, and opportunities to differ materially from those expressed or implied by
such forward-looking statements. Forward-looking statements in this news release include, but are
not limited to, statements with respect to: the Company's business and prospects; the Company's
objectives, goals or future plans; resumption of trading in the Company's common shares; and the
business, operations, management and capitalization of the Company. Forward-looking statements
are necessarily based on a number of estimates and assumptions that, while considered
reasonable, are subject to known and unknown risks, uncertainties and other factors which may
cause actual results and future events to differ materially from those expressed or implied by such
forward-looking statements. Such factors include, but are not limited to: general business, economic
and social uncertainties; litigation, legislative, environmental and other judicial, regulatory, political
and competitive developments; delay or failure to receive board, shareholder or regulatory
approvals; those additional risks set out in the Company's public documents filed on SEDAR at
www.sedar.com
; and other matters discussed in this news release. Accordingly, the forward-looking
statements discussed in this release, including the resumption of trading, may not occur and could
differ materially as a result of these known and unknown risk factors and uncertainties affecting the
companies. Although the Company believes that the assumptions and factors used in preparing the
forward-looking statements are reasonable, undue reliance should not be placed on these
statements, which only apply as of the date of this news release, and no assurance can be given
that such events will occur in the disclosed time frames or at all. Except where required by law, the
Company disclaims any intention or obligation to update or revise any forward-looking statement,
whether as a result of new information, future events, or otherwise.
SOURCE
Outback Goldfields Corp.
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For further information:
Enquiries: Email: [email protected], Tel:
+1.604.813.3931
CO: Outback Goldfields Corp.
CNW 08:00e 18-DEC-23