Outback Goldfield $OZ has been granted an exploration license for Ballarat West
Outback Goldfields Corp. (the "Company" or "Outback") (CSE: OZ) is pleased to report that the exploration license application for its Ballarat West tenement has been granted.
"Ballarat West is one of four key assets Outback has in the Victorian Goldfields. It's a large package that is completely underexplored due to shallow cover despite the fact that over 17 million ounces of gold has been produced within 10 km of the property. I believe Ballarat West represents an incredibly significant opportunity on our quest to find a multi-million ounce discovery." commented Craig Parry, Chairman
Ballarat West Highlights
Tenement comprises 44,800 hectares of underexplored, yet highly prospective rocks of the Bendigo and Stawell zones.
Close to the high-grade and historically prolific Ballarat and Creswick goldfields.
Widespread historic alluvial workings and deep leads across the tenement suggest a possible local source for gold mineralization.
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 previously defined 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 (GeoVic; http://gsv.vic.gov.au/). The true extent of these mineralized structures is not presently known and represent priority targets for investigation during the upcoming exploration program. Both targets are exposed in local windows of prospective Ordovician 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-centered historic workings are documented, associated with prominent regional-scale north-trending faults (e.g., Linton and Haddon goldfields). Another focus of the upcoming exploration program will be to investigate the northern extent of these locally mineralized faults on the Ballarat West tenement.
The Ballarat-based technical team has begun compiling and reviewing all regional and property-scale geological, geochemical and geophysical data to better define areas of focus for exploration. Once complete, the team will focus on procuring land holder access agreements followed by a Phase 1 exploration program consisting of geological mapping, rock-chip sampling and soil geochemical surveys. These surveys will be focused along and across favorable structures that transect prospective Castlemaine Group rocks with the goal of defining drill targets. Further exploration plans will be released once budgets are set and targets are ranked and prioritised.
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.
1. Finlay, I.S. and Douglas, P.M., 1992, Ballarat Mines and Deep Leads, Geological Survey Report 94, http://gsv.vic.gov.au/
2. reported in: Hughes, M.J., 1998, EL4053, Haddon North/Mount Rowan, Annual Report for the Period ending 5 March 1998, Earth Resource Development, Department of State Development, Business and Innovation, http://gsv.vic.gov.au/
3. reported in: Horwood, D.J., 2011, Ballarat North Project, EL4943 Annual report for the Period ending 31 December 2011, Earth Resource Development, Department of State Development, Business and Innovation, http://gsv.vic.gov.au/
4. Phillips, G.N., 2010, Victorian Gold Province, Australia: a contemporary exploration guide, Geoscience Victoria Special Publication, 54 p., http://gsv.vic.gov.au/
5. reported in: Independent QP Report for the Ballarat Mine, Aug. 28, 2020, LionGold Corp. 137 p.
Data Verification and National Instrument 43-101 Disclosure
Some data disclosed in this news release is historical in nature. Neither the Company nor a Qualified Person, as defined by National Instrument 43-101 - Standards of Disclosure for Mineral Projects ("NI 43-101"), have verified the data, and, therefore, investors should not place undue reliance on such data. In some cases, the data may be unverifiable. The technical information disclosed in this news release has been reviewed and approved by Christopher Leslie, P.Geo., a Qualified Person as defined by NI 43-101.
About Outback Goldfields Corp.
Outback Goldfields Corp. is a well financed 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 two of the four company tenements. The Goldfields of Victoria, Australia are home to some of the highest grade and lowest cost mining in the world.