Impact: Positive
Barton Gold announced an updated MRE for its 100%-owned Tunkillia Au project in South Australia. Total JORC Mineral Resources for the Tunkillia project now stand at 46.3Mt grading 0.93 g/t Au for 1.38M oz Au. This includes Indicated resources of 25.8Mt grading 0.96 g/t Au for 794k oz, and Inferred resources of 20.5Mt grading 0.88 g/t Au for 583k oz. This represents an increase by 224 koz Au (~ 20%) vs. the Apr/23 MRE (read note). In our opinion, this is another positive step for Barton. The company has continued to add ounces, particularly at the 223 deposit, with cost-effective drill programs. This helps lay the foundation for Barton’s plans to bring this brownfields mining camp back into production.
