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Outback's Ballarat West Exploration Licence has been Granted
VANCOUVER, BC, June 8, 2021 /CNW/ - Outback Goldfields Corp. (the "Company" or "Outback") (CSE: OZ) is pleased to report that the exploration license applicatio
About this update from Valkea Resources Corp
[{"type":"text","content":" VANCOUVER, BC, June 8, 2021 /CNW/ - 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. Ballarat West 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. Next steps The Ballarat-based technical t...