Barton Gold (ASX:BGD) is lining up drilling for early 2024 after mapping several new and previously untested structures across the Tarcoola Goldfield, which holds its Tarcoola Gold Project.
The $48.88 million market capitalisation company says the structures were mapped through seismic analysis of a detailed survey using a combination of accelerated weight drop and vibroseis trucks in August this year at the Tarcoola Project.
Preliminary analysis indicates gold mineralisation is closely associated with deeper-tapping sub-vertical structures similar to the Perseverance Fault.
The company notes this is the first time that known gold occurrences can be put into a structural framework.
Managing Director and Chief Executive Officer (CEO) Alex Scanlon says the mapping of Tarcoola’s detailed architecture, coupled with little modern exploration and a history of ‘high-grade’ production, provide ‘significant’ potential for ‘exciting’ new discoveries.
“We are analysing these results in combination with our other data sets, and expect to drill test our highest-priority exploration targets during early 2024.”
Barton Gold is an ASX, OCTQB, and Frankfurt Stock Exchange-listed gold explorer with a pipeline of advanced exploration projects in South Australia.
As of 30 September, Barton Gold had $9.295 million cash and cash equivalents at hand, according to its latest quarterly report.
Write to Adam Drought at Mining.com.au
Images: Barton Gold