The Silver Spoon project is located approximately 30km east of Bendigo, on highly prospective ground positioned between the operating Fosterville and Costerfield Gold Mines.
The area contains several historic gold and other mineral prospects in areas of outcrop.
Younger cover sediment however masks much of the prospective host rock and these regions have only been very lightly explored.
In recent years the utilisation of modern detailed gravity surveying to locate prospective faults under shallow cover sediment has been paramount in identifying potential gold bearing zones for later drill testing. ASX listed Catalyst Metals’ has demonstrated the success of this methodology with the both the Four Eagles and Tandarra Prospect gold discoveries under shallow cover sediment north of Bendigo (reference Catalyst ASX: CYL, 08/08/2018 ASX release).
On 16 December 2020 the Company completed a transaction to sell its Victorian gold project assets to Outback Goldfields Corp. (“Outback Goldfields”) in exchange for shares in Outback Goldfields (refer ASX announcement dated 16 December 2020 ‘Sale of Victorian Assets Successfully Closed’).
The Transaction has resulted in Outback Goldfields acquiring the Company’s gold projects located in Victoria, Australia (“the Project”), including the Company’s Silver Spoon Gold Project (ELA 6951).
EL6951 (Silver Spoon) Location Map, showing recorded historical mine sites (yellow dots, source Vic Govt. “GeoVic” Database), current exploration (light blue) licences and major gold mines.