Scoping Studies Begin for 1.5Moz Tunkillia Gold Project
Adelaide, April 18, 2024 AEST (ABN Newswire) - Barton Gold Holdings Limited (
ASX:BGD) (BGD3:FRA) (BGDFF:OTCMKTS) is pleased to advise that scoping studies have commenced for the Tunkillia Gold Project (Tunkillia). During March Tunkillia's JORC (2012) Mineral Resource Estimate (MRE) grew to 1.5Moz Au (51.3Mt @ 0.91 g/t Au)).
Barton has appointed GR Engineering Services Limited (GRES) and Mining Associates Pty Ltd (Mining Associates) to lead a detailed scoping study for Tunkillia including mine design, production scheduling, process plant, tailings storage, equipment, personnel and supporting infrastructure (Scoping Study).
Following completion of the Scoping Study, Barton will also complete a review of all technical data to determine the forward work program necessary to complete a pre-feasibility study (PFS Gap Analysis).
The launch of Tunkillia Scoping Studies follows the completion of Barton's recent share placement to institutional investors (Placement) and Share Purchase Plan (SPP).2 The Placement and SPP were both strong supported by the Company's institutional, sophisticated and retail shareholders, with applications significantly exceeding the targeted raise amounts and final SPP allocations yet to be determined.
Commenting on the start of Tunkillia Scoping Studies, Barton Managing Director Alex Scanlon said:
"We have rapidly advanced Tunkillia since its acquisition in early 2020, leading to multiple expansions of its mineralised footprint and four cost-efficient JORC Resource upgrades. It is very exciting to now step forward into early development studies as we continue building the district scale potential for our South Australian assets."
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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