Quarterly Activities Report
Adelaide, April 29, 2024 AEST (ABN Newswire) - During the quarter, and subsequent to quarter end, Barton Gold Holdings Limited (
ASX:BGD) (BGD3:FRA) (BGDFF:OTCMKTS) completed a diverse program of exploration works across the Tarcoola Gold (Tarcoola) and Tunkillia Gold (Tunkillia) Projects.
This resulted in a JORC 2012 Mineral Resources Estimate (MRE) upgrade for Tunkillia in March 2024, to a total 1.50Moz Au, following dual 2023 MRE upgrades to 1.15Moz and 1.38Moz Au (respectively).
Barton has also completed a ~1,688m drilling program in Tarcoola's open pit Perseverance Mine, ahead of planned priority target drilling in the neighbouring historical high-grade producing Tarcoola Goldfield.
Tunkillia Gold Project (100%)
During the quarter ended 31 December 2023 Barton completed major Tunkillia growth drilling programs totalling more than 20,000m of reverse circulation (RC) and diamond (DD) drilling.
This resulted in an initial expansion of Tunkillia JORC 2012 Mineral Resources in and around the 223 Deposit to 1.38Moz Au.
On 4 March 2024, Barton announced a further Tunkillia MRE upgrade to 1.50Moz Au, where:
- the Area 51 target was converted to a JORC 2012 compliant MRE;
- a further 115koz Au was added at an 'all in' cost of only AUD $18/oz;
- 820koz Au are now classified as JORC 'Indicated' (~55%);
- ~305koz Au are in shallow (~35m depth) supergene zones;
- ~80% of tonnes and gold ounces are within 200m of surface; and
- the central zone contains a higher-grade ~300m core.
Tunkillia's 12 month JORC 2012 MRE growth now totals ~530koz Au, achieved at an estimated average 'all in' cost of only A$15 per ounce.
Additionally, drilling results from the Area 191 target confirmed visible high-grade gold, including an intersection of 3.83m @ 68.0 g/t Au from 104.1m depth (down hole).
Bulk open pit Scoping Studies have now started for Tunkillia.
Commenting on the Company's March 2024 quarter, Barton Managing Director Alex Scanlon said:
"We are pleased to kick off the 2024 calendar year with the same pace that we ended 2023, with additional Resources growth already completed, open pit drilling completed, and gold concentrate sales underway.
"The Barton story is now entering an exciting new phase, with Tunkillia Scoping Studies underway for a potential bulk open pit operation, and high priority drilling in the neighbouring historical high-grade Tarcoola Goldfield.
We are grateful for our shareholders' overwhelming support as we expedite our regional development strategy."
*To view the full Quarterly Report, please visit:
https://abnnewswire.net/lnk/17LD4F6U
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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