Barton Gold (ASX:BGD) will continue the pace of progress seen in 2023 into 2024 across its portfolio of assets in South Australia, with resource and regional drilling planned.
As previously announced, Barton Gold has wrapped up diamond drilling and a seismic survey at its Tarcoola Gold Project to improve its geological knowledge for potential resource modelling.
The $47.90 million market capitalisation company has now confirmed ‘high-priority’ targets at Tarcoola, which will be undertaken early next year.
In its AGM company presentation released today (25 October 2023), the company notes that at the Tunkillia Gold Project, multiple drill rigs are now onsite. It is also planning resource and regional exploration drilling next year, alongside targeting multiple near-term resource updates.
The company plans to continue building scale with the stage two platform at Tunkillia, as well as anchor for 150,000 ounces per annum.
Barton Gold Non-Executive Chairman Ken Williams says as the company moves into the new year with ‘significant’ momentum and a clear plan, it further highlights its mission to develop South Australia’s ‘largest independent’ gold producer.
In Barton’s presentation, the company highlights its asset monetisation initiatives are on track to generate nearly $10 million in non-dilutive cash.
The company’s asset monetisation initiatives have paid 100% of its administrative costs for the past 2 years, alongside increased capital available for exploration programs.
As of 30 June 2023, the company had $10.451 million cash and cash equivalents at hand, according to its latest quarterly report.
Barton is an ASX, OTCQB, and Frankfurt stock exchange listed Australian gold exploration company with a total attributable 1.3Moz Au JORC mineral resources endowment, 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.
Write to Aaliyah Rogan at Mining.com.au
Images: Barton Gold
