Barton Gold (ASX:BGD) is targeting multiple Mineral Resource Estimate (MRE) updates during the end of this year and into early 2024, within its Tunkillia Gold Project in South Australia.
The $40 million market capitalisation company has 3 drill rigs currently active on multiple Tunkillia growth targets, including the 223 deposit block, satellite gold zones, and the Yarlbrinda Shear Zone.
At the 223 deposit, priority reverse circulation (RC) drilling will be conducted for a potential further JORC MRE update this year.
Barton Gold, which is also listed on the OTCQB Market under the ticker code (OTCQB:BGDFF), says a combination of RC and diamond drilling will be undertaken at one or more of the satellite gold zones. The OTCQB is the middle tier of the US over-the-counter (OTC) market through which US investors can more easily access overseas stocks.
Meanwhile, RC drilling will also test the prospect identified to the southeast of the 223 deposit, targeting potential southern extensions or repeats of this style of mineralisation along the western margin of the Yarlbrinda Shear Zone.
Commenting on the drilling, Barton Gold Managing Director Alex Scanlon says: “Drilling is proceeding at pace and we expect to complete all planned drilling on the 223 deposit, satellite gold zones, and regional targets by the end of 2023.
We are prioritising and grouping drilling and assays for comprehensive and progressive updates to the market, targeting multiple near-term JORC resources updates before 30 June 2024.”
This news follows after Barton completed a 7,000m RC and 500m diamond drilling program within Tunkillia.
The Tunkillia Gold Project is located 70km south-southeast of the Tarcoola Project on a 1,360km-square tenement package. The project hosts a 1.15 million ounces of gold JORC MRE at its cornerstone 223 deposit.
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.
As of 30 June 2023, the company had $10.451 million cash and cash equivalents at hand, according to its latest quarterly report.
Write to Aaliyah Rogan at Mining.com.au
Images: Barton Gold
