Barton Gold (ASX:BGD) has kicked off exploration activities with a diamond drilling program at the Tarcoola Gold Project in South Australia.
The $41.98 million market capitalisation company says drilling will target the ‘Perseverance West’ zone, with the aim to generate additional structural context to support a potential updated Mineral Resource Estimate (MRE) on the Perseverance mine.
Commenting on the drill program, Barton Gold Managing Director Alex Scanlon says: “The Perseverance open pit mine represents an exciting potential starting point for stage one regional operations.
The mine was producing high-grade ore to our Central Gawler Mill during 2017 and 2018, and on-pit extensions could represent a very attractive source of shallow, accessible mineralisation on a fully permitted mining lease.
Perseverance is the only modern mine at Tarcoola, despite a 130 year history of high-grade gold production in a gold field hosting hundreds of shallow historical workings across our mining lease and exploration licence.
We are hoping that our recently completed seismic targeting program will generate a much more detailed map of the surface architecture and help us identify a series of shallow, high-grade open pittable deposits.”
This news comes after Barton confirmed a shallow extension of the Perseverance mine mineralisation using reverse circulation (RC) drilling during October 2021.
The company has engaged with an independent drilling company Resolution Drilling, who also completed diamond drilling for Barton in January this year.
Barton Gold is a gold exploration company, focused on its pipeline of ‘advanced’ exploration projects and brownfield mines, as well as its wholly owned gold mill in the Central Gawler Craton of South Australia.
As of 30 June 2023, the company had $10.45 million cash and cash equivalents at hand, according to its latest quarterly report.
Write to Aaliyah Rogan at Mining.com.au
Images: Barton Gold
