Quarterly Activities Report
Adelaide, Jan 24, 2024 AEST (ABN Newswire) - During the quarter Barton Gold Holdings Limited (
ASX:BGD) (BGD3:FRA) (BGDFF:OTCMKTS) completed an intensive growth program of more than 20,000 metres RC and DD exploration drilling across the Tarcoola Gold (Tarcoola) and Tunkillia Gold (Tunkillia) Projects.
This resulted in a JORC Mineral Resources Estimate (MRE) upgrade for Tunkillia during December 2023, to a total 1.38Moz Au, following Barton's April 2023 JORC upgrade (from 965koz to 1.15 Moz).
Barton also published a 3D model of the sub-surface architecture of its Tarcoola Goldfield, providing the first consistent structural framework for historical high-grade gold occurrences since its 1893 discovery.
Highlights
Tunkillia Gold Project, SA (100%)
- 20,000m reverse circulation (RC) and diamond (DD) drilling growth program completed following April 2023 JORC Mineral Resources upgrade from 965koz Au to 1.15Moz Au
- JORC Mineral Resources grow a further 224koz Au, from 1.15Moz Au to 1.38Moz Au, at 'all in' cost of only A$16/oz
- ~8,000m RC and DD drilling assays outstanding and expected to be received soon for Area 51, Area 191 and SE Offset gold targets
- Targeting further JORC Resource upgrade during early 2024 Tarcoola Gold Project, SA (100%)
- New 3D structural model identifies multiple drilling targets across high-grade historical Tarcoola Goldfield
- ~600m DD and ~400m RC drilling assays outstanding at Tarcoola's open pit Perseverance Mine
- Further drilling of Perseverance open pit and new discovery targets anticipated to commence during March 2024
Corporate
- OTCQB (BGDFF) trading of Barton Gold shares enabled with Depository Trust & Clearing Corporation (DTCC) registration
- $4.6m cash balance (31 December 2023) provides significant working capital for ongoing Tarcoola and Tunkillia programs
- Tender opened for sale of ~$4.3m contained gold (~1,400oz Au) concentrates to further boost cash position
Commenting on the Company's December 2023 quarter, Barton MD Alex Scanlon said:
"Calendar year 2023 was exceptionally successful for Barton, with the December quarter seeing our second large Tunkillia Resources upgrade for the year and also a new structural model for our high-grade Tarcoola Goldfield.
"We expect to start 2024 with the same pace that we ended 2023, with additional Resource growth, discovery drilling, and asset monetisation initiatives underway and expected to yield multiple updates in the near future."
*To view the full quarterly report, please visit:
https://abnnewswire.net/lnk/S20L8KPQ
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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