November 22, 2022
Barton Gold Holdings Ltd. (ASX:BGD, Not Rated, Koby Kushner) announced the expansion of its ongoing drill program at its 100%-owned Tunkillia Au project in South Australia. Tunkillia comprises ~130,000 ha of ground that covers ~50km strike of the highly prospective Yerda and Yarlbrinda shear zones. Within these shears is the company’s 223 deposit, which hosts 965k oz Au at 1.15 g/t Au in open-pittable resources (ind+inf). The deposit extends ~2.5km along strike, and remains open in all directions. Last September, a ~3.5km N step-out hole uncovered the newly discovered Area 51 zone, with drill results of 3.2 g/t Au over 17m and 1.51 g/t Au over 25m, which has since been defined over a ~500m strike. A 12,000m RC drill program is currently underway, however, yesterday’s news reports the addition of a diamond rig with up to another 2,000m planned. The program is focused on resource expansion of the 223 deposit, particularly at depth, as well as further delineation of the Area 51 deposit. Drilling is expected to wrap up by year-end. Initial assays are anticipated shortly, with continued results to flow through to Feb/23. In Mar/23, Barton plans to release an updated mineral resource estimate that should incorporate >30,000m of drilling completed since its June 2021 IPO. Looking outside of Tunkillia, the company also owns the Tarcoola project (~70km N of Tunkillia), host to the past-producing Perseverance Au mine. Another ~130km NW is Barton’s Central Gawler mill, the region’s only mill (which provides for toll milling and infrastructure opportunities) and the past-producing Challenger Au mine. Additionally, the Central Gawler mill and Challenger mine are surrounded by several JV projects in which Barton has interests. For now, the company is focused on growing its resource base and is well-funded to do so, with ~A$10M in the bank and a stated resource target of +2M oz Au. Read more
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Barton Gold Holdings Ltd. – ASX:BGD
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