#Positive Developments in the Challenger Gold Project
Barton Gold Holdings Limited has announced significant advancements in its Definitive Feasibility Study (DFS) regarding the Challenger Gold Project in South Australia. The study underscores the Central Gawler Mill's (CGM) readiness for recommissioning and evaluates the feasibility of reprocessing historical tailings from Tailings Storage Facility 1 (TSF1).
The recent evaluations confirm that the CGM is not only suitable for recommissioning but also technically and operationally prepared for the reprocessing of TSF1 tailings. This initiative aims to initiate a low-risk operation for an initial period of three to four years, utilizing only higher-grade materials. The approach strategically avoids any disruption to the existing high-grade underground assets and infrastructure.
The DFS, led by Altris Engineering since September 2025, is actively exploring various operational scenarios, including mill reconfigurations and different feed source combinations. Recent analyses have included detailed assessments of CGM’s infrastructure and geological investigations to support the strategic planning of production operations.
Drilling campaigns have yielded promising results, with high-grade mineralization discoveries reported, including grades reaching up to 170 grams per tonne (g/t) of gold in the Main open pit. These findings enhance the potential for increased production and are expected to impact the upcoming resource upgrades projected for the third quarter of 2026.
Barton is advancing its plans to mine new open pits while simultaneously applying for a new Mining Program for Environmental Protection and Rehabilitation (M-PEPR) to officially include the reprocessing of historical tailings and the extraction of fresh mineral resources. Additionally, the company is exploring options to incorporate renewable energy solutions to reduce its carbon footprint and mitigate operational costs.
The DFS is progressing well, with key assessments confirming the Central Gawler Mill's suitability for recommissioning. This study is positioned to enhance the company's operational viability and potentially increase gold production through the targeted use of higher-grade tailings.
Reprocessing historical tailings from TSF1 is deemed both technically feasible and operationally practical. This strategy allows Barton to leverage existing resources while maintaining the integrity of the untouched high-grade underground mine, representing a low-cost and low-risk approach to resuming production.
The initial Stage 1 operation is focused on utilising higher-grade material, which is expected to provide substantial gold output while minimising operational risks and costs. This phased approach aims to provide time for further exploration and optimisation of the Challenger asset.
Recent drilling has yielded impressive results, identifying new areas of high-grade mineralisation, particularly up to 170 g/t Au. These results not only bolster the confidence in resource estimates but also enhance the potential for increased production from the open pits.
The Central Gawler Mill provides significant operational leverage, enabling Barton Gold to transition to a production model with reduced costs and risks. Its proximity to various mining targets enhances operational efficiency and expands the company's capability to process material from multiple sources.
Challenger is fully compliant with environmental regulations through established Mining Programs for Environmental Protection and Rehabilitation (M-PEPR). This ensures that all mining and processing activities, including tailings reprocessing, adhere to strict environmental standards.
Barton Gold is actively exploring renewable energy options to reduce its carbon footprint, such as incremental solar power capacity. This initiative aligns with broader industry trends towards sustainability and could mitigate exposure to fuel price volatility.
The Company is on track to provide further updates with a planned Mineral Resource upgrade in Q3 CY26 and DFS completion anticipated in H2 CY26, suggesting a timely resolution of key project milestones.