Barton Gold Holdings Limited has announced significant assay results from its ongoing Phase 2 drilling at the Tunkillia Gold Project in South Australia. The results indicate promising high-grade intersections in both the Area 223 North and the southern end of the main optimized open pits, showcasing the project’s potential for resource upgrades.
The Phase 2 upgrade drilling program, which encompasses approximately 40,000 meters, is nearing completion. It has successfully infilled areas with high mineral value, specifically targeting the S1 and S2 pits within Area 223. Notably, the assays have also revealed broader and higher-grade extensions in Area 51.
A Pre-Feasibility Study (PFS) is currently in progress, led by GR Engineering, with an anticipated completion date set for the first quarter of 2027. This study aims to evaluate the expanded drilling results as well as assess the potential for increased mineral resources.
In response to the latest assay results, Alexander Scanlon, the Managing Director of Barton Gold, expressed enthusiasm about the confirmation of broad mineralization in key target areas. He noted that the assays indicate new and higher-grade mineralization, which could enhance both quantity and grade across various zones of the project.
Barton Gold is preparing for ongoing assays from the current drilling and expects to report further results in the foreseeable future. Following the completion of this phase, the company aims to upgrade its mineral resources for gold and silver and will proceed to submit a mining lease application.
Barton Gold Holdings Limited (ASX:BGD)(OTCQB:BGDFF)(FRA:BGD3) has announced further assays from the 'Phase 2' reverse circulation drilling at the Tunkillia Gold Project. This phase has infilled the highest-value pits and identified new extensions in mineralisation, contributing to a significant resource upgrade. The pre-feasibility study (PFS) is underway, targeting completion in Q1 CY27.
The current drilling at the Tunkillia Gold Project focuses on Area 223 North and the southern end of Area 223. Results from both 'Phase 1' and 'Phase 2' drilling have shown high-grade intersections in these areas, with broader extensions identified in Area 51.
Barton Gold has indicated that the PFS for the Tunkillia Gold Project is underway and is targeting completion by Q1 CY27. This is intended to incorporate the results from the recent drilling and assess potential mineral resource upgrades.
Barton Gold reports a JORC Mineral Resource of approximately 1.6 million ounces of gold (Au) and 3.1 million ounces of silver (Ag) within the Tunkillia Gold Project, contributing to their overall resource base, which includes 2.2 million ounces of Au and 3.1 million ounces of Ag across other projects.
Forward-looking statements issued by Barton Gold may be subject to various business, legal, and economic risks, as well as uncertainties that could cause actual results to differ from those projected. Risks could include fluctuations in commodity prices, changes in global economic conditions, and regulatory or environmental challenges.
Investors can access detailed announcements and data from Barton Gold through the ASX website or directly via the company's website. This includes comprehensive information regarding previous announcements, exploration results, and the Competent Persons Statement.
Barton Gold aims to advance its exploration efforts to achieve future gold production of 150,000 ounces per annum. The efforts are focused on resource development across several projects, such as Tunkillia, while also ensuring compliance with regulatory and environmental guidelines.
Barton Gold acknowledges the presence of broader and higher-grade mineralisation in the Tunkillia Project, particularly in Area 223, which could support potential enhancements in resource quantity and grade. However, ongoing assays are necessary to validate these findings.