Barton Gold Holdings (ASX:BGD) has returned shallow, ‘high-grade’ gold assays from phase two infill drilling within modelled open-pit areas at its Tunkillia Gold Project in South Australia.
Hole TKB0703 intersected 24m @ 4.51 grams per tonne gold (Au) from 47m, including 2m @ 16.7g/t Au from 53m.
Other results from the S1 and S2 zones of the Area 223 open pit include 11m @ 5.51g/t Au from 14m in TKB0678, including 2m @ 24.7g/t Au from 16m.
Hole TKB0639 returned 6m @ 6.61g/t Au from 70m, including 1m @ 32.4g/t Au from 73m, while TKB0681 intersected 7m @ 4.10g/t Au from 65m.
The intervals are downhole lengths, and true widths have not been reported.
Managing Director Alexander Scanlon says Barton expanded its 39,000m phase two program after early infill results indicated a potential new domain within the starter-pit outlines.
“Given that the average grade driving these economics in the starter pits is 1.05g/t Au, the new assays are exceptional,” Scanlon says.
“Such mineralisation could materially boost Tunkillia’s already remarkable early operating economics.”
Barton models the S1 and S2 starter pits to generate $1.8 billion in operating profit during the first 2.5 years at current gold and silver prices.
Its May 2025 optimised Scoping Study, based on gold and silver prices of $5,000 and $50 per ounce, respectively, modelled annual production of about 120,000 ounces of gold and 250,000 ounces of silver.
The study estimated an unlevered, pre-tax net present value of $1.4 billion and internal rate of return of 73.2%.
Final phase two assays are expected shortly, followed by updated gold and silver mineral resource estimates. Barton is targeting completion of a Prefeasibility Study during the first quarter of 2027.
Barton is a South Australian gold developer advancing a portfolio of projects and processing infrastructure in the Gawler Craton.
Write to France Pinzon at Mining.com.au
Images: Barton Gold Holdings
