Outback Mobilises Drill Rig and Resumes Exploration at the Yeungroon GOLD Property, Victoria
OUTBACK MOBILISES DRILL RIG AND
RESUMES EXPLORATION AT THE
YEUNGROON GOLD PROPERTY, VICTORIA
VANCOUVER, BC
,
Jan. 25, 2022
/CNW/ -
Outback Goldfields Corp
. (the "
Company
" or
"Outback") (TSXV: OZ) is pleased to provide an update on exploration activities at its Yeungroon
property, central
Victoria, Australia
.
"We are excited to resume our exploration program at our Yeungroon property, located in the heart
of the Victorian Goldfields. Results from exploration on the property to date indicate that the
Golden Jacket mine is part of a much larger system that we now know extends along strike well
beyond the limits of historical mining," commented
Chris Donaldson
, CEO.
"Our multi-rig program has consisted of shallow diamond drilling peripheral to the historical
Golden Jacket mine as well as widely-spaced and grid-based RAB holes along strike to the south.
An air core drill rig is being mobilised to the property to follow up on prospective targets to the
south as well as investigating new targets northwest and northeast of the Golden Jacket mine."
Highlights
Exploration is ongoing across the Yeungroon Gold Property:
A combination of grid-based
RAB and focused diamond drilling has confirmed the presence of an open-ended, reef-hosted
gold system at Golden Jacket.
Just beginning to "scratch the surface" along the Golden Jacket fault:
Only 1 kilometer of
the +30 kilometers of prospective strike length has been investigated with the RAB drill and
follow-up targets are already defined.
Significant air-core drill program to commence with two primary objectives
:
Expand and test at depth the 600 meter long, open-ended, near-surface arsenic anomaly
south of the Golden Jacket mine.
Test numerous priority geophysical targets located northeast of the Golden Jacket mine.
Golden Jacket Drill Program
The Golden Jacket mine is associated with the property-scale, northwest-trending Golden Jacket
fault, which transects the property for over 30 kilometres of strike length. Historical small-scale
production from the Golden Jacket mine was reportedly 1,400 ounces of gold at approximately 250
grams per tonne
1
.
Air-core drilling will focus on testing the northwestern extent of the reef-hosted gold system along
strike from the Golden Jacket mine, as well as testing numerous geophysical targets to the
northeast (Figure 2). The air-core drill program is designed to build on encouraging results from a
large grid-based, top of bedrock sampling rotary air-blast (RAB) drill program, and a short diamond
drill program (Figure 1). Similar to RAB drilling, the air-core drill rig is used to sample and map the
"top of bedrock" below cover.
The Golden Jacket drill program is being completed in two parts:
1. The first phase of the program utilised a RAB drill to complete a tight grid of holes, on 20-
metre centres, peripheral to, and along strike to the southeast from the Golden Jacket mine.
Grid lines were northeast-oriented and spaced 60 to 120 metres apart (Figure 1). Additional
wider-spaced holes, east of Golden Jacket were also completed (Figure 1). 279 holes have
been completed to date.
Top of bedrock samples were analyzed using a tailored portable Xray fluorescence
spectrometer (pXRF) workflow to measure elemental concentrations from prepared sample
mounts as well as QA/QC samples in the field. Samples were prepared and analyzed daily.
Preliminary pXRF data highlight a broad, 600 meter long, northwest-trending, high-arsenic
anomaly. This anomaly is along strike from the Golden Jacket mine to the southeast (Figure
1). The relationship between gold mineralization and disseminated arsenopyrite and high-
arsenic contents in host rocks peripheral to gold-bearing quartz reefs 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.
Figure 1: Map showing peak arsenic (As) values (in ppm) in RAB drill holes. A strong arsenic
anomaly has been identified for up to 600 meters south of the Golden Jacket mine shaft. (CNW
Group/Outback Goldfields Corp.)
Select samples from RAB holes with elevated arsenic contents were also submitted for fire
assay analyses. Hole OGR013, located 300 meters south of the Golden Jacket mine,
intersected 1 meter of 1.5 g/t gold from 22 meters down hole (Figure 4), which suggests the
gold system extends southerly beyond areas of historical mining.
The northwest-extent of the anomaly, as well as interpreted northeast offsets and multiple
additional targets, will be investigated with the air-core rig during the current program (Figure
2).
Figure 2: Locations of the reported RAB drill holes overlain on magnetic geophysical data and new
targets (red ovals) selected to be investigated with the air-core drill. (CNW Group/Outback
Goldfields Corp.)
2. Nine diamond drill holes for 1,025 metres have so far been completed at the Golden
Jacket mine and, based on the presence of sulfide-bearing quartz reefs and preliminary
assay data, more holes are planned. The purpose of the drilling was to investigate the
structural setting and geochemical footprints of high-grade gold mineralization along strike
and below the historic Golden Jacket mine (see news release dated
August 25
th
, 2021). The
drill holes to date have covered a northwest-trending strike extent of 100 metres and have
tested down to 115 metres depth (Figure 4).
Figure 3: Map showing locations of drill holes completed to date. Collars of diamond drill holes are
shown in red. Section line for Figure 4 is show as A-A'. (CNW Group/Outback Goldfields Corp.)
Of the nine completed holes, four were terminated short of their target depth due to the
presence of historical mine workings and voids (Figure 4). This suggests that historical
underground developments are more widespread than government records indicate. Hole
OGA0015, however, intersected 4.7 meters of 1.15 g/t gold including 0.7 meters of 4.01 g/t
gold below the upper level of modelled workings (Figure 4). Gold mineralization in this area is
associated with arsenopyrite-bearing quartz veins within broad zones of disseminated
arsenopyrite hosted in deformed sedimentary rocks.
Updated modelling of all intersected quartz-reefs and the location of newly identified mining
voids has led to the creation of new drill targets. These targets, both along strike and down-
dip of the Golden Jacket system, will be ranked and prioritised together with results from the
upcoming air-core program.
Figure 4: Cross section (A-A') looking northeast showing the location of gold intercepts in relation to
modelled historical workings. Location of A-A' shown in Figure 3. (CNW Group/Outback Goldfields
Corp.)
Table 1. Gold assay results – Golden Jacket Drilling
Drillhole
From
(m)
To
(m)
Interval
(m)
Gold
(g/t)
OGA0015
53.8
58.5
4.7
1.15
inc
54.6
55.4
0.8
1.33
inc
56.2
56.9
0.8
4.01
OGA0013
No significant intervals
OGA0014
Mining Void
OGA0016
Mining Void
OGA0017
No significant intervals
OGA0018
Mining Void
OGA0019
Mining Void
OGA0020
No significant intervals
OGA0021
No significant intervals
1.
Calculations are uncut and length-weighted using a 0.10 g/t gold cut-off with no internal dilution.
2.
Intervals are downhole lengths. True widths are approximately 50% for holes OGA0015. No true width could be estimated for RAB
holes (OGR Prefix) as structural information cannot be gained from this style of drilling.
3.
DDH holes OGA0014, 0016, 0018, and 0019 intersected mining voids
Table 2. Collar Locations for diamond drill holes
Drill hole
ID
*East
(m)
North (m)
RL
(m)
Dip
(°)
Azimuth
(°)
Total
(m)
OGA0013
716277
5974853
160
-55
265
90.6
OGA0014
716278
5974853
160
-62
265
110.3
OGA0015
716271
5974870
160
-55
258
81.7
OGA0016
716236
5974841
160
-55
120
120.6
OGA0017
716236
5974841
160
-70
120
126.7
OGA0018
716236
5974841
160
-80
109
122.8
OGA0019
716219
5974887
160
-55
75
35.1
OGA0020
716219
5974887
160
-77
75
90.0
OGA0021
716123
5974842
158
-55
75
246.6
*GDA94 Zone 54
Yeungroon Project
The 698 km
2
Yeungroon property is transected by the north-trending, crustal-scale Avoca fault,
which separates the western Stawell zone from the Eastern Bendigo zone. The western side of the
Yeungroon property contains the historic Golden Jacket hard-rock reef mine associated with the
regional-scale, northwest-trending Golden Jacket fault. Historical mining records indicate the Golden
Jacket mine produced quartz-rich ore with grades of up to 250 grams per tonne gold (Bibby and
More, 1998), however, the vertical and lateral extent of mineralization remains unknown.
The eastern side of the project is underlain by Ordovician rocks of the Castlemaine group and
comprises the northern extent of the Wedderburn Goldfield, where numerous small-scale, historical
alluvial and hard-rock mines are located.
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.
Quality Assurance and Quality Control
All sample assay results have been monitored through Outback's quality assurance / quality control
(QA/QC) program. Drill core was sawn in half at Outback's core logging and processing facility in
Ballarat, VIC. RAB samples were collected in the field. Half the drill core and RAB chips were
sampled and shipped in sealed and secure bags to the Gekko Assay Laboratory in Ballarat, VIC.
Samples were prepared using standard preparation procedures (dry, crush and pulverise at 75
micron mesh). Gold was analyzed by fire assay on a 30 gram sample with an AAS finish (atomic
absorption spectroscopy). Gekko Assay Laboratory is accredited for compliance with ISO/IEC
17025 Testing by National Association of Testing Authorities,
Australia
(NATA)
In addition to Gekko Assay Laboratory QA/QC protocols, Outback implements an internal QA/QC
program that includes the insertion of standards and blanks into the sample stream.
National Instrument 43-101 Disclosure
This news release has been approved by Mr.
Matthew Hernan
(FAusIMM, 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. He supervised the drill program and
verified the data disclosed, including sampling, analytical and QA/QC data, underlying the technical
information in this news release.
Some data disclosed in this News Release relating to sampling and drilling results is historical in
nature. Neither the Company nor a qualified person has yet verified this data and therefore investors
should not place undue reliance on such data. In some cases, the data may be unverifiable due to
lack of drill core. Mineralization hosted on adjacent and/or nearby and/or geologically similar
properties is not necessarily indicative of mineralization hosted on the Company's property.
References
Bibby, L.M., and Moore, D.H., 1998, Charlton 1:100,000 map area geological report, Geological
Survey of Victoria Report 116, 95 p.
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 well financed exploration mining company that is actively exploring
its package of highly prospective gold projects located around the Fosterville Gold Mine in
Victoria
.
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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CO: Outback Goldfields Corp.
CNW 06:30e 25-JAN-22