InvestmentPitch Media Video Discusses Outback Goldfields' Shareholder Update on its Yeungroon and Glenfine Gold Projects in Australia - Video Available on Investmentpitch.com | INN

Outback Goldfields (CSE: OZ) (OTCQB: OZBKF) (FSE: S600) has provided an update its Yeungroon and Glenfine projects in Australia. These are two of the company's four key assets in the highly prospective Fosterville Gold District in the Victoria goldfields in southeast Australia.

For more information, please view the InvestmentPitch Media "video" which provides additional information on the company. If this link is not enabled, please visit www.InvestmentPitch.com and enter "Outback" in the search box.

Chris Donaldson, CEO, stated: "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."

The 698 square kilometre Yeungroon property is transected by the north-trending, crustal-scale Avoca fault, which separates the western Stawell zone from the Eastern Bendigo zone. Seven holes totalling more than 1,800 metres of rotary air-based drilling has been completed to date at the Golden Jacket reef and geochemical results from top-of-bedrock samples will help guide future diamond drilling.

Results have also been received from the company's final holes at the multi-rig drill program at Glenfine, where the program 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.

The Glenfine project is centered on a 30 km section of the north-trending, crustal-scale Avoca fault which juxtaposes Cambrian rocks of the Stawell zone to the west with Ordovician rocks of the Bendigo zone to the east. Previous exploration drilling intersected numerous intervals of significant gold mineralization at both target areas, such as 3.8 metres of 9.0 g/t gold with 1.3 metres of 23.4 g/t gold in hole CCD01 at British Banner and 3.8 metres of 5.7 g/t gold with 0.8 metres of 21.0 g/t gold in hole PFD031 at Glenfine.

The current program consisted of 8 diamond and 12 reconnaissance reverse circulation drillholes. Results from 3 of the initial holes were reported in May, highlighted by 5.1 metres at 2.90 g/t gold including 0.3 metres at 15.02 g/t gold in hole OGA0004, and 17.30 metres at 2.66 g/t gold including 1.30 metres at 10.65 g/t gold and 0.8 metres at 9.31 g/t gold in hole OGA0005. Both holes cut strong zones of quartz reef and/or breccia-hosted mineralization in the targeted stratigraphic and structural horizons. The results suggest down-dip and up-dip mineralization continuity over 100 metres in the northern end of Reef 2.

OGA0006, OGA0007 and OGA0008, collared 140 metres north of OGA0004 and OGA0005 were step-out holes designed to test midway along the Reef 2 to Glenfine South corridor. Hole OGA0008, which returned 2.4 metres at 4.76 g/t gold including 0.8 metres at 6.71 g/t gold, intercepted the top of a zone of reef-hosted gold mineralization with potential for extension of up to 50 metres down-dip.

OGA0002, which returned 2.4 metres at 1.86 g/t gold including 0.8 metres at 5.27 g/t gold, was drilled from the same pad as OGA0001 and intersected quartz reef-hosted mineralization along strike from the historic Glenfine South Mine. Hole OGR011 intersected a 1 metre zone of mineralization at 50 metres depth which returned 2.39 grams per tonne gold and is interpreted to be a parallel structure to Reef 2 and is thought to be open at depth.

Chris Donaldson, CEO, added: "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."

The company is well funded with its shares trading at $0.20. For more information, please visit the company's website, www.OutbackGoldfields.com, contact Chris Donaldson, CEO, at 604-900-3450 or email info@OutbackGoldfields.com.

About InvestmentPitch Media

Investmentpitch Media leverages the power of video, which together with its extensive distribution, positions a company's story ahead of the 1,000's of companies seeking awareness and funding from the financial community. The company specializes in producing short videos based on significant news releases, research reports and other content of interest to investors.

CONTACT:

InvestmentPitch Media
Barry Morgan, CFO
bmorgan@investmentpitch.com

Corporate Logo

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/101005

News Provided by Newsfile via QuoteMedia

Outback Goldfields CSE:OZ Gold Investing

Newmont Announces Successful Early Tender Results for the Exchange Offers and Consent Solicitations

Newmont Corporation (Newmont or the Company) announced today, in connection with the previously announced offers to exchange (each, an "Exchange Offer" and, collectively, the "Exchange Offers") any and all outstanding notes (the "Existing Newcrest Notes") issued by Newcrest Finance Pty Limited, a wholly owned subsidiary of Newmont ("Newcrest Finance" and, together with Newmont, the "Issuers"), for (1) up to $1.65 billion aggregate principal amount of new notes to be issued by the Issuers (the "New Newmont Notes") and (2) cash, and related consent solicitations (each, a "Consent Solicitation" and, collectively, the "Consent Solicitations") to adopt certain proposed amendments to each of the indentures governing the Existing Newcrest Notes (the "Existing Newcrest Indentures Amendments"), that the Issuers have received tenders with respect to the aggregate principal amounts of Existing Newcrest Notes set forth below, which constitute the requisite consents needed to adopt the Existing Newcrest Indentures Amendments with respect to each of the three outstanding series of the Existing Newcrest Notes that are subject to the Exchange Offers and the Consent Solicitations. Newcrest Finance intends to enter into supplemental indentures with the trustee for the Existing Newcrest Notes to implement the Existing Newcrest Indentures Amendments on or prior to the settlement date of the Exchange Offers and the Consent Solicitations.

News Provided by Business Wire via QuoteMedia

Keep reading...Show less

kerry stevenson, open-pit mine

Kerry Stevenson: Gold, Uranium, Lithium — What I'm Doing with My Money

Kerry Stevenson, host of Making Money Matter, spoke with the Investing News Network about sentiment among Australian resource companies and investors, as well as what she's doing with her money right now.

She sees gold as a key portfolio component, especially during today's turmoil, and said she has exposure to physical gold and silver in addition to gold equities. "For me it's all about diversification. Because my view is that if you keep printing like drunken sailors, then hard assets are something that you really, strongly need to look at," she said.

However, Stevenson, who also runs the Australian Gold Conference, is following markets like uranium and lithium as they continue to gain traction on the back of the ongoing energy transition.

Keep reading...Show less

don hansen, gold bars and stock charts

Investor Education: US Debt and Currency Collapse with Expert Don Hansen

Private investor Don Hansen has honed his resource sector investment approach for more than 20 years, and in a conversation with the Investing News Network he shared his research on the US debt-to-GDP ratio.

Looking back to 1945, the ratio was at 111 percent due to major spending on World War II. However, by 1965 it was down to just 43 percent — Hansen noted that this happened on the back of a balanced budget and good economic growth. The ratio remained fairly stable from 1965 to 1985, but rose dramatically from 1985 to 2005.

"The debt grew 9.3 percent between 1985 and 2005, but the GDP only grew 6.1," he noted. "So obviously then the debt-to-GDP ratio was climbing, and in 2005 it was up to 61. So you're going up 50 percent in 20 years." By 2025, Hansen expects the ratio to rise to 150 percent, with debt growing 9.5 percent annually and GDP only increasing by 3 percent.

Keep reading...Show less

Karim Rayani, CEO of Falcon Gold

Falcon Gold Eyes Spring Drilling at Newfoundland Copper, Lithium and Gold Projects

Falcon Gold (TSXV:FG,FWB:3FA,OTCQB:FGLDF) is getting ready to ramp up exploration work at its gold, lithium and copper projects in Newfoundland, with permitting and subsequent drilling on the properties expected by spring 2024, according to CEO Karim Rayani.

“Once we get those permits in and we’re able to execute on our drill plan … we’ve been in a fairly slow period, but once drills start turning, I’m fairly optimistic we’ll be able to generate some high-grade material,” he said.

Falcon Gold’s Newfoundland landholdings are surrounded by significant deposits, which Rayani broke down in the interview. For example, its Golden Brook property hosts the Hope Brook zone, which is less than 10 kilometers from the new high-grade lithium discovery at Benton Resources (TSXV:BEX) and Sokoman Minerals' (TSXV:SIC,OTCQB:SICNF) Golden Hope project.

Keep reading...Show less

Latest Press Releases

Related News