Barton Gold (ASX:BGD) reports it has been awarded a new ‘major’ tenement at the Tarcoola Gold Project in South Australia.
The company acquired the 435km-square tenement EL6860 through its wholly owned subsidiary Tarcoola 2, and Barton has mapped out a 14km corridor of major structures analogous to the structure hosting the Perseverance Mine.
Tarcoola’s EL6210 also hosts ML6455, the site of the Tarcoola gold rush producing around 77,000oz Au at an average grade of approximately 37.5g/t Au between 1900 and 1955, and the open pit Perseverance Mine which during 2018 sent an average of 3.8g/t Au ore to Barton’s Central Gawler Mill.
Barton also reports it has discovered the new Perseverance West ‘high-grade’ zone with multiple mineralised horizons next the Perseverance Mine.
The company’s share price was up 14.285% as of 8am AWST on the back of the announcement.
It closed trade some 3.571% higher at $0.145 per share.
Barton Gold Managing Director Alex Scanlon said the company is very pleased to acquire this tenement as an important addition to our strategic regional footprint in the Central Gawler Craton.
“Our regional prospectivity analysis indicates the potential for this new tenement area to host scale gold mineralisation analogous to that already on neighbouring tenements”
“Our regional prospectivity analysis indicates the potential for this new tenement area to host scale gold mineralisation analogous to that already on neighbouring tenements EL6210 and ML5466.”
Barton Gold is an Australian gold exploration company focused on the Tarcoola Gold Project, the Tunkillia Gold Project and the Central Gawler Mill.
The company’s total attributable mineral resources endowment is 1,100,000oz Au with 28,600,000 tonnes @ 1.2g/t Au.
Images: Barton Gold Holdings Ltd
