Yeungroon Exploration Program Ramps Up

VANCOUVER - Outback Goldfields Corp. has expedited its exploration program across its Yeungroon property, northern Victorian Goldfields.

"With all the excitement from recent discoveries in the Victorian Goldfields lately we are please to ramp-up our exploration efforts across our highly-prospective Yeungroon property. Outback is now actively exploring on three of its four properties. At Yeungroon, the presence of widespread historic alluvial and reef-centered gold mines on the eastern side of the property with documented gold nugget occurrences, suggest a strong potential for local reef-hosted gold mineralization. Our local Ballarat-based technical team have already started prospecting and soil sampling these areas with the primary goal of defining new drill targets. The high-grade, historic Golden Jacket mine on the western side of the property remains untested and represents a priority area for our upcoming grid-based RAB drill program," said, Chris Donaldson, CEO.

Based on a comprehensive review and interpretation of recently acquired, property-wide, airborne geophysical data (magnetics and radio metrics; see OZ news released dated March 2nd, 2021), together with data from previous geological and geochemical surveys, several high-priority zones of interest are defined within the main Golden Jacket, Moondyne and Wedderburn target areas. Exploration will focus on investigating the structural setting and associated geochemical footprints of known reef-hosted gold mineralization as well as to define new targets worthy of drill testing.

The immediate focus for groundwork is the northern extent of the Wedderburn Goldfields where previous work identified numerous, untested, north-trending arsenic-in-soil anomalies considered prospective for reef-hosted gold mineralization. Follow-up soil geochemical grids, north and south of these anomalies as well as along parallel structures will be completed. Geological and structural mapping will be conducted to better inform the lithological distribution of the regionally prospective Castlemaine Group as well as previously documented north-trending, gold-bearing quartz reefs (e.g., Peep O'day, Lincoln, and Allenvale). Prospecting along historic gold-bearing alluvial channels with documented occurrences of gold nuggets (e.g., Roberts and Nott, 1984) will also help focus further exploration efforts in productive areas.

Golden Jacket: Plans to thoroughly investigate the mineralization potential of the Golden Jacket Fault, host to the historic high-grade Golden Jacket and Nine Mile mines, are being finalized. A RAB (rotary air-blast) drill will be used to systematically map the geology and geochemistry of bedrock below widespread post-mineralization cover rocks. Land access agreements for the program are being finalized.

The 698 km2 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. Historic 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 has yet to be tested by drilling. 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, historic alluvial and hard-rock mines are located.