- Outback Goldfields Corp (OZ) has commenced a systematic exploration program on its Ballarat West property, central Victorian Goldfields
- The exploration team has identified multiple prospective areas of focus for Phase 1 exploration
- The program will consist of geological mapping, rock-chip sampling and soil geochemical surveys
- Follow-up ground-based geophysical surveys will be completed
- Outback Goldfields Corp. is an exploration mining company holding a package of four highly prospective gold projects located in Victoria, Australia
- Outback Goldfields Corp (OZ) opened trading at C$0.60 per share
Outback Goldfields Corp (OZ) has commenced a systematic exploration program on its Ballarat West property, central Victorian Goldfields.
“We are extremely excited to start exploring our Ballarat West property in the heart of the prolific Victorian goldfields. Over 17 million ounces of gold have been produced within 10km of the property, however, Ballarat West remains completely underexplored due to widespread, yet shallow cover.
Our systematic approach to exploration at Ballarat West will be aimed to fully investigate the high-grade gold potential of the asset with the goal of defining new drill targets. The Victorian Goldfields are experiencing a modern-day gold rush and Outback is ideally positioned to make the next big gold discovery,” commented Chris Donaldson, CEO.
Exploration program
Based on a compilation and review of all regional and property-scale geological, geochemical and geophysical data, the Ballarat-based exploration team has identified multiple prospective areas of focus for Phase 1 exploration. The program will consist of geological mapping, rock-chip sampling and soil geochemical surveys.
Follow-up ground-based geophysical surveys such as induced polarization (IP) and gravity will be completed and informed by results from the geochemical surveys.
These surveys will be concentrated along and across known and inferred prospective structures that transect Castlemaine Group rocks; host to the nearby Ballarat, Clunes, Haddon and Creswick goldfields (Figure 1).
The exploration team is also engaged in procuring land holder access agreements in areas deemed strategically important for the Phase 1 exploration program.
Ballarat West
The 44,800 hectare Ballarat West property is underlain by prospective rocks of the Stawell and Bendigo zones, separated by the north-trending Avoca Fault. The Mitchells and Grassies targets are hosted in Ordovician aged sedimentary rocks of the Castlemaine Group and are comprised of structurally controlled gold-bearing quartz reefs with numerous historic workings covering a strike length of at least 300 metres at Mitchells and at least 250 metres at Grassies.
The true extent of these mineralized structures is not presently known and represents priority targets. Both targets are exposed in local windows of prospective Castlemaine Group rocks surrounded by widespread, post-mineralization cover rocks (gravels and basalts).
The post-mineralization cover rocks extend to the southern boundary of the tenement where they thin and Bendigo Zone rocks dominate (Figure 1). Here, numerous quartz reef-centred historic workings are documented, associated with prominent regional-scale north-trending faults (e.g., Linton and Haddon goldfields).
Outback Goldfields Corp. is an exploration mining company holding a package of four highly prospective gold projects located proximate and adjacent to the Fosterville Gold Mine in Victoria, Australia. The initial Phase 1 exploration program is now underway on three of the four company properties.
The Goldfields of Victoria, Australia are home to some of the highest grade and lowest cost mining in the world.
Outback Goldfields Corp (OZ) opened trading at C$0.60 per share.
