Barton Gold (ASX:BGD) has further validated a zone of ‘broad’, coherent gold mineralisation for potential JORC modelling at the Area 51 deposit, as part of its Tunkillia Gold Project in South Australia.
The $45.21 million market capitalisation company says the results demonstrate multiple intersections ranging from 20m to 50m width in the central zone and support the ‘higher grade’ core model for Area 51, validating prior May 2022 and January 2023 drilling.
Key results include hole TKB175D with 44m @ 1.81 grams per tonne (g/t) Au from 64m including 6m @ 5.85g/t Au from 69m and 1m @ 19.95g/t Au from 80m.
Analysis is underway for potential conversion of Area 51 to the new JORC Mineral Resource Estimate. Additional results remain outstanding and are expected soon for Tunkillia’s Southeast Offset target and Tarcoola’s Perseverance open pit.
Managing Director Alex Scanlon says: “These results further validate the expansive potential of Tunkillia’s gold mineralisation. Located 4km northwest of the 223 deposit area, Area 51 is the fifth new gold zone we have confirmed within this radius during the past 2 years.
Three of these have recently been converted to JORC resources during December 2023, and we are now reviewing Area 51 for the same potential as we continue to build out the project’s mineralised footprint.”
In May 2022 Barton completed drilling targeting the Area 51 prospect northwest of Tunkillia’s 223 deposit, confirming during September 2022 a new 500m gold zone which was then subsequently extended to 700m long during April 2023.
The combined drilling mapped out a broad (50 – 100m wide) zone of gold mineralisation along this ~700m strike, and also suggested a potential higher-grade concentration of mineralisation at the ‘core’ of Area 51.
Barton Gold is an ASX, OTCQB, and Frankfurt Stock Exchange-listed gold explorer with a pipeline of advanced exploration projects in South Australia.
The company has total attributable 1.5Moz Au JORC mineral resources endowment (47.2Mt @ 1g/t Au), a pipeline of advanced exploration projects and brownfield mines, and 100% ownership of the only regional gold mill in the central Gawler Craton of South Australia.
As of 30 December 2023, the company had $4.617 million cash and cash equivalents at hand, according to its latest quarterly report.
Write to Adam Drought at Mining.com.au
Images: Barton Gold
