Tunkillia JORC Resources Grow Another 20% to 1.38 Million oz
Adelaide, Dec 11, 2023 AEST (ABN Newswire) - Barton Gold Holdings Limited (
ASX:BGD) (BGD3:FRA) (BGDFF:OTCMKTS) is pleased to announce an updated JORC Mineral Resources Estimate (MRE) for the Tunkillia Gold Project (Tunkillia).
Approximately 15,200m of drilling has added ~224,000 oz Au in the cornerstone 223 Deposit and the 223 North satellite gold zone for an estimated 'all in' cost of ~A$16 / new ounce. Total Tunkillia Mineral Resources are now 1.38Moz Au (46.3Mt @ 0.93 g/t Au), with ~58% classified in the 'Indicated' category.
Commenting on the latest Tunkillia JORC Resources update, Barton MD Alex Scanlon said:
"This is the second time that Barton has grown the Tunkillia Project's JORC Resources during 2023, with a total of 413,000 ounces of gold added at an exceptionally low 'all in' cost of only A$14 per ounce. These results continue to validate the Company's exploration thesis for Tunkillia, with its mineral footprint rapidly expanding. "We look forward to sharing another ~8,000m of assays from target Areas 51, 191 and SE Offset in early 2024."
HIGHLIGHTS
- Tunkillia JORC Mineral Resources increase to 1.38 million oz (46.3Mt @ 0.93 g/t Au), with 224,000 oz Au added for an 'all in' cost of only AUD ~$16 / oz
- Attractive characteristics:
o 794koz Au of Tunkillia Project Resources are classified in the JORC 'Indicated' category (~58%)
o 277koz Au in shallow supergene zone starting from ~35m depth
o ~80% of Resource tonnes and ounces are within 200m of surface; and
o 300m long higher-grade zone located in the centre of the 223 Deposit
- Upgraded Tunkillia MRE includes:
o 223 Deposit extensions, a new southern gold zone, and 'Area 223 North' converted to MRE
o +22% total tonnes (+8.3Mt) and +20% total Au metal (+224koz)
o +80% Resource strike (from ~2km to ~3.5km)
- Conservatively modeled with a production mentality; tight grade capping and internal dilution targeting efficient, bulk open pit operations and strong metal reconciliation
- Near-term exploration upside, with Area 51, Area 191, and SE Offset assays pending
- Barton total JORC Mineral Resources increase to 1.46 million oz (47.2Mt @ 1.0 g/t Au), with 413,000 oz Au added during 2023 for an average 'all in' cost of only AUD $14 / oz
To view the Resource Upgrade Presentation, please visit:
https://www.abnnewswire.net/lnk/6F3K8004
About Barton Gold Holdings Limited
Barton Gold Holdings Limited (ASX:BGD) (FRA:BGD3) (OTCQB:BGDFF) is an ASX listed Australian gold exploration company with a total attributable ~1.1Moz Au JORC (2012) Mineral Resources endowment (28.74Mt @ 1.2 g/t Au), a pipeline of advanced exploration projects and brownfield mines, and 100% ownership of the only regional gold mill in the central Gawler Craton of South Australia.
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