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Outback Goldfields - Chris Donaldson, CEO
Chris Donaldson, CEO
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  • Outback Goldfields (OZ) has provided an update on drilling activities at its Yeungroon project and drill program results from its Glenfine project
  • Seven diamond drill holes have been completed at Yeungroon
  • The drilling program at Glenfine was focused on evaluating the continuity of gold mineralization within a significant corridor of prospective geology
  • Final drill results from Glenfine have identified multiple gold-bearing structures
  • Outback Goldfields Corp. is an exploration mining company
  • Outback Goldfields Corp. (OZ) opened trading at C$0.22 per share

Outback Goldfields (OZ) has provided an update on drilling activities at its Yeungroon project and drill program results from its Glenfine project.

CEO Chris Donaldson commented on the updates.

“We are excited to update shareholders on drilling progress at our Yeungroon project, located in the heart of the Victorian Goldfields. A diamond drill rig is currently in operation and focused on investigating the extent of high-grade gold mineralization historically mined at the Golden Jacket mine. Most holes to date have intersected zones of quartz veining with locally high sulfide contents. Drill core samples are being rushed for analysis and additional drill holes are planned.” 

A rotary air-based drill has been mobilized to commence a systematic program of drilling along and across the strike-extent of the property-scale Golden Jacket fault. Over 1,800 metres of RAB drilling has been completed to date and geochemical results from top-of-bedrock samples will help guide future diamond drilling.

Results have also been received from the final holes at the multi-rig drill program at Glenfine. The program was focused on evaluating the continuity of gold mineralization within a significant corridor of prospective geology between the Reef 2 and Glenfine South prospects.

Outback’s Ballarat-based technical team successfully completed the program while dealing with multiple government-issued lockdowns and analytical delays.

Chris Donaldson stated, 

“The most recent results from the company’s step-out holes demonstrate the high-potential of the corridor for additional reef-hosted gold targets. Together with our previously reported drill results that confirmed strong grade continuity within Reef 2 suggest that additional drilling is warranted to fully evaluate the resource potential of this exciting trend.

Highlights

  • Seven diamond drill holes have been completed at Yeungroon: Drilling is systematically testing the down-dip and along-strike potential of the Golden Jacket reef, host to the historic high-grade Golden Jacket mine.
  • A large property-scale RAB drill program has commenced: RAB drilling is targeting top-of-bedrock across the property to focus future exploration.
  • Final drill results from Glenfine: Identified multiple gold-bearing structures along the prospective Reef 2 to Glenfine South corridor. Tighter spaced follow-up drilling is recommended.

The Yeungroon diamond drill program is designed to test the high-grade gold potential along strike and below the historic Golden Jacket mine and based on 3D modelling of historic mining records numerous priority areas were defined. Seven holes for 630 metres have so far been completed and more holes are planned based on encouraging visual results (e.g., sulphide-bearing quartz reefs). The drill holes to date have covered a northwest-trending strike extent of 100 metres and have tested down to 115 metres. Core samples are being dispatched to the lab daily.

The final batch of results from the multi-rig drill program at the Glenfine property has been received and interpreted. The drill program was focused on targeting high-grade, quartz reef-hosted gold mineralization. The first target was the southern extent of a ~400-metre north-south trending corridor of prospective geology between, and along strike from the historic Glenfine South mine and the southern Reef 2 prospects (Figure 1). A total of 8 diamond and 12 reconnaissance reverse circulation (“RC”) drill holes have been tested for mineralization continuity of vein-hosted mineralization along this prospective corridor. 

Outback Goldfields Corp. is a mining company 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.

Outback Goldfields Corp. (OZ) opened trading at C$0.22 per share.

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