Home Equities Score How Does The OZBKF Stock Price Increase By 57%?

How Does The OZBKF Stock Price Increase By 57%?

Outback Goldfields Corp. (OTCQB: OZBKF) gained 57.35 percent on Friday, closing its weekend trading at $0.55497. Outback Goldfields stock has been trading in the $0.55497 to $0.55497 range. Over the past month, OZBKF stock has experienced a 4.6% rise with a 30-day average daily volume of 12.60K shares. As the OZBKF stock rose in absence of current news, we can then point to recent developments to provide a more thorough understanding of OZBKF.

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How did things go recently?

In Victoria, Australia, Outback Goldfields owns a package of four highly prospective gold projects which are located adjacent and nearby the Fosterville Gold Mine. The initial Phase 1 exploration program has commenced on two of the four OZBKF tenements. Some of the world’s highest grade and lowest cost mining occurs in the Goldfields of Victoria, Australia.

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The Outback Goldfields last week provided an update on its exploration activities, which are continuing to expand in the world-famous Victorian Goldfields.

  • One of the objectives of OZBKF is to systematically explore the feasibility of two of its four projects.
  • OZBKF’s projects Glenfine and Yeungroon are at the center of Phase 1 of the 2021 exploration program.
  • Both OZBKF’s Ballarat West and Silver Spoon tenements are seeking exploration licenses.
  • Currently, OZBKF is working on enhancing the Glenfine gold project exploration program by targeting high-grade quartz reefs.
  • Approximately 400 meters of prospective geology lies in an approximately north-south trending corridor between the historic Glenfine South mine and the southern Reef 2 prospects.
  • Mineralization continuity along this trend has been tested in eight diamond drill holes so far.
  • OZBKF has sent the samples to the lab for analysis.
  • Second drill rig has been put into operation.

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Moving forward:

Outback Goldfields (OZBKF) will be using reverse circulation drills (RCs) for the purpose of checking for parallel structures in the Glenfine to Reef pipeline in a cost-efficient manner. Once drilling has been completed along the Reef 2 to Glenfine South corridor and land access has been completed on the Glenfine project, OZBKF plans additional targets such as British Banner to be drill tested.

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