Barton Gold (ASX:BGD) has extended the mineralised strike at the 223 deposit 300m to the north after receiving reverse circulation (RC) drill results.
The company says the drill results from work at its Tunkillia Gold Project in South Australia have validated and provided increased confidence in the April 2023 Mineral Resource Estimate (MRE) block model.
Barton notes new results are in line with previously estimated grades in their respective areas within the block model.
The $45.94 million market capitalisation company reports ‘key’ intersections include hole TKB131 with 10m @ 1.67 grams per tonne (g/t) Au from 52m; and hole TKB143 with 54m @ 0.79g/t Au from 60m, including 20m @ 0.71g/t Au from 118m. These hits came from the 223 North section of the area.
Barton Gold Managing Director Alex Scanlon says the company is encouraged to see mineralisation suggesting potential growth of the 223 deposit to the north.
“Area 223 North is also interesting, with broad mineralisation complementing prior shallow, higher-grade drilling.
We will start updating the resource model and expect to share results from southern extensional drilling soon.”
“We will start updating the resource model and expect to share results from southern extensional drilling soon”
Barton is an ASX, OTCQB, and Frankfurt Stock Exchange-listed gold explorer with a pipeline of advanced exploration projects in South Australia.
As of 30 September 2023, the company had $9.295 million cash and cash equivalents at hand, according to its latest quarterly report.
Write to Aaliyah Rogan at Mining.com.au
Images: Barton Gold