( CSE: OZ, OTCQB: OZBKF, FSE: S600)
COVID-19 Lockdowns
Over the past six weeks
Exploration Update
Exploration continues across the project portfolio (see news releases dated
Yeungroon: At Yeungroon the current focus has been on the eastern side of the property associated with the northern extent of the Wedderburn goldfield. Here, soil sampling and prospecting along prominent ridges have been completed with samples now pending in the lab. The Company has also received the final data from a recently completed 85 km2 LiDAR survey over the Wedderburn area. Numerous areas of previously unrecognised historic surface disturbance have been identified and prioritised for systematic follow-up.
The Company is also finalizing the collar locations for a large RAB (rotary air-blast) drilling program across the Golden Jacket area on the western side of the property. The RAB program will consist of a series of long east-west traverses of closely spaced shallow holes designed to test the bedrock below post-mineralization cover rocks. The data will be used to prioritise areas for follow-up diamond drilling. The Company is also planning a short diamond drilling program consisting of three to four holes designed to test the high-grade gold potential along strike and below the historic, Golden Jacket mine, associated with the property-scale Golden Jacket fault.
Ballarat West: At Ballarat West, the Company has completed numerous road-side soil sample traverses and has also planned multiple soil grids covering areas of known prospective Ordovician rocks that locally crop-out through widespread, post-mineralization cover-rocks. Over 3,000 sample locations are planned, and sampling is set to commence once land-access agreements are in place. Structural mapping and prospecting along strike from known reef-occurrences (e.g., Gassies) has also commenced.
Glenfine: At Glenfine, the Company is awaiting final assays from the recently completed diamond and RC drill program along the Reef 2 to Glenfine South corridor (see news release dated
Advisor
The Company is pleased to announce that
The Company's investor relations contract with MARS Investor Relations ended on
DTC Eligibility
The Company is pleased to report that it is now DTC eligible. These transfers aid funds in the US to trade Outback shares and should aid with liquidity.
DTC is a subsidiary of the
Community Engagement
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 well and is ongoing.
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. Mineralization hosted on adjacent and/or nearby and/or geologically similar properties is not necessarily indicative of mineralization hosted on the Company's property. The technical information disclosed in this news release has been reviewed and approved by
About
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
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CAUTIONARY NOTE REGARDING FORWARD LOOKING STATEMENTS
This news release includes certain "Forward‐Looking Statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and "forward‐looking information" under applicable Canadian securities laws. When used in this news release, the words "anticipate", "believe", "estimate", "expect", "target", "plan", "forecast", "may", "would", "could", "schedule" and similar words or expressions, identify forward‐looking statements or information. These forward‐looking statements or information relate to, among other things: the development of the Company's mineral projects, including drilling programs and mobilization of drill rigs; and future mineral exploration and development.
Forward‐looking statements and forward‐looking information relating to any future mineral production, liquidity, enhanced value and capital markets profile of Outback, future growth potential for Outback and its business, and future exploration plans are based on management's reasonable assumptions, estimates, expectations, analyses and opinions, which are based on management's experience and perception of trends, current conditions and expected developments, and other factors that management believes are relevant and reasonable in the circumstances, but which may prove to be incorrect. Assumptions have been made regarding, among other things, the price of gold and other metals; no escalation in the severity of the COVID-19 pandemic; costs of exploration and development; the estimated costs of development of exploration projects; Outback's ability to operate in a safe and effective manner and its ability to obtain financing on reasonable terms.
These statements reflect Outback's respective current views with respect to future events and are necessarily based upon a number of other assumptions and estimates that, while considered reasonable by management, are inherently subject to significant business, economic, competitive, political and social uncertainties and contingencies. Many factors, both known and unknown, could cause actual results, performance or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward‐looking statements or forward-looking information and Outback has made assumptions and estimates based on or related to many of these factors. Such factors include, without limitation: the Company's dependence on one mineral project; precious metals price volatility; risks associated with the conduct of the Company's mining activities in
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