Barton Gold (ASX:BGD) is well on its way to transition from ‘explorer’ to ‘producer’ as it launches a reverse circulation (RC) program drilling the floor of the ‘high-grade’ Perseverance open pit mine at the Tarcoola Gold Project.
Some 1,500m drilling is planned to test immediate pit floor mineralisation.
The current program will include about 20 RC drillholes targeting immediate extensions of mineralisation in the open pit floor. This follows diamond drilling (DD) during September 2023, where 600m of drilling was completed at the south end of the pit to obtain structural information for the Deliverance Target and Perseverance West.
Barton says analysis of the RC and DD drilling results will inform further follow-up drilling, with the objective to convert extensions of the pit to JORC mineral resources during the first half of 2024.
Other early 2024 Tarcoola programs will include drilling on high-priority targets identified in the company’s recent seismic survey.
Barton, which is listed on the ASX, OTCQB, and Frankfurt Stock Exchange, recently published the results of a large-scale seismic survey program, revealing the subsurface architecture of the ‘high-grade’ historic Tarcoola Goldfield for the first time in its 130-year history.
Barton Gold Managing Director Alex Scanlon says the company is focused on adding shallow, easily accessible mineralisation to its existing open pit as the first step to confirming an initial base of resources supporting an accelerated stage one return to production and cash flow.
“Even minor extensions can offer high-value ounces considering our fully permitted mining lease, fully licensed mill, and the significantly reduced capital and operating requirements for an existing shallow open pit mine.
We look forward to an exciting 2024 as we test several new targets identified in our recently published structural map of the Tarcoola Goldfield and determine the roadmap for Barton’s transition from ‘explorer’ to ‘producer’.”
“Even minor extensions can offer high-value ounces considering our fully permitted mining lease, fully licensed mill, and the significantly reduced capital and operating requirements for an existing shallow open pit mine“
Barton’s Tarcoola drilling programs completed during 2020 and 2021 identified multiple depth extensions of mineralisation below the Perseverance open pit mine floor. These programs confirmed a new shallow ‘high-grade gold zone’ (Perseverance West) in new structures identified behind the southern wall of the open pit.
Meanwhile, yesterday (4 December 2023), Barton Gold confirmed more than 20,000m of RC and DD drilling at the Tunkillia Gold Project has been undertaken.
More than 100 holes totaling 17,700m RC and 2,900m DD drilling (including pre-collars) were completed on 223 deposit extensions, satellite gold zones 223 North, Area 191, and Area 51, as well as the SE Offset target.
Priority RC and DD extension drilling on the 223 deposit was finished on 30 October 2023, with assays at the northern and southern targets on the deposit identifying new mineralisation potentially supporting growth.
Barton says the 223 North assays confirmed broad mineralisation complementing prior shallow, ‘high-grade’ intervals in earlier drilling.
An updated JORC Mineral Resources Estimate (MRE) for these areas is expected shortly.
Assay results for RC and DD drilling of the Area 191 and Area 51 gold zones, and the SE Offset target, are underway with first results expected early 2024.
Barton is focused on exploration in 2 large-scale mineral systems at the Tarcoola Project and Tunkillia Project, where technical work demonstrates significant new upside opportunities in historically under-invested assets.
Mining.com.au Managing Editor Adam Orlando has more than 20 years’ experience in the media having held senior roles at various publications, including as Asia-Pacific Sector Head (Mining) at global newswire Acuris (formerly Mergermarket). Adam has worked in newsrooms around the world including Hong Kong, Singapore, London, and Sydney.
Barton Gold (ASX:BGD) is lining up drilling for early 2024 after mapping several new and previously untested structures across the Tarcoola Goldfield, which holds its Tarcoola Gold Project.
The $48.88 million market capitalisation company says the structures were mapped through seismic analysis of a detailed survey using a combination of accelerated weight drop and vibroseis trucks in August this year at the Tarcoola Project.
Preliminary analysis indicates gold mineralisation is closely associated with deeper-tapping sub-vertical structures similar to the Perseverance Fault.
The company notes this is the first time that known gold occurrences can be put into a structural framework.
Managing Director and Chief Executive Officer (CEO) Alex Scanlon says the mapping of Tarcoola’s detailed architecture, coupled with little modern exploration and a history of ‘high-grade’ production, provide ‘significant’ potential for ‘exciting’ new discoveries.
“We are analysing these results in combination with our other data sets, and expect to drill test our highest-priority exploration targets during early 2024.”
Barton Gold is an ASX, OCTQB, and Frankfurt Stock Exchange-listed gold explorer with a pipeline of advanced exploration projects in South Australia.
As of 30 September, Barton Gold had $9.295 million cash and cash equivalents at hand, according to its latest quarterly report.
Born and raised in the UK, Adam is a sports fanatic with an interest in Rugby League and UFC/MMA. When not training in Muay Thai and Brazilian Jiu Jitsu, Adam attends Griffith University where he is completing his final year of a Communication & Journalism degree.
Barton Gold (ASX:BGD) has uncovered a new 300m southern gold zone via reverse circulation (RC) drilling conducted on the 223 deposit as part of its Tunkillia Gold Project in South Australia.
Barton’s new geophysical modelling for the Tunkillia mineral system previously indicated the potential to identify new gold mineralisation in previously untested areas near to, or offset from, the 223 Deposit.
As with the recently announced mineralisation identified to the north of the 223 deposit, drilling results indicate that the new 300m of mineralisation identified near the southern end of 223 is offset from the main strike trend of the April 2023 JORC mineral resources block model.
Key intersections from the latest RC drilling program include hole TKB115 with 6m @ 2.84 grams per tonne (g/t) Au from 189m; hole TKB185 with 12m @ 1.97g/t Au from 144m; and hole TKB189 with 55m @ 1.52g/t Au from 214m.
Barton Gold notes that the mineralisation in hole TKB189 is notably consistent, with low variability in grade along the quoted 55m interval.
Managing Director Alex Scanlon says combined with last week’s assay results from the northern end of the deposit, the company has added 600m of new mineralisation along strike, or about 30% of the April 2023 JORC resource footprint.
“Updated 223 deposit modelling is underway. Our objective is to confirm additional low-cost growth in the long-term JORC resources base, while awaiting assay results from the surrounding growth and discovery targets“
“Updated 223 deposit modelling is underway. Our objective is to confirm additional low-cost growth in the long-term JORC resources base, while awaiting assay results from the surrounding growth and discovery targets.”
Drilling to date comprises 23 RC drillholes for 4,938m at the Southern 223 target, to evaluate potential extensions of the 223 deposit’s mineralisation and support further growth of the 223 deposit’s MRE.
Barton Gold is an ASX, OTCQB, and Frankfurt stock exchange-listed gold explorer. The company has a pipeline of projects and brownfield mines, alongside 100% ownership of the only regional gold mill in the Central Gawler Craton of South Australia.
As of 30 September 2023, the company had $9.295 million cash at hand, according to its latest quarterly report.
Relocated from the East Coast in New Zealand to Queensland Australia, Aaliyah is a fervent journalist who has a passion for storytelling. When Aaliyah isn’t writing stories, she is either spending time with friends and family or down at the beach.
Barton Gold (ASX:BGD) has extended the mineralised strike at the 223 deposit 300m to the north after receiving reverse circulation (RC) drill results.
The company says the drill results from work at its Tunkillia Gold Project in South Australia have validated and provided increased confidence in the April 2023 Mineral Resource Estimate (MRE) block model.
Barton notes new results are in line with previously estimated grades in their respective areas within the block model.
The $45.94 million market capitalisation company reports ‘key’ intersections include hole TKB131 with 10m @ 1.67 grams per tonne (g/t) Au from 52m; and hole TKB143 with 54m @ 0.79g/t Au from 60m, including 20m @ 0.71g/t Au from 118m. These hits came from the 223 North section of the area.
Barton Gold Managing Director Alex Scanlon says the company is encouraged to see mineralisation suggesting potential growth of the 223 deposit to the north.
“Area 223 North is also interesting, with broad mineralisation complementing prior shallow, higher-grade drilling.
We will start updating the resource model and expect to share results from southern extensional drilling soon.”
“We will start updating the resource model and expect to share results from southern extensional drilling soon”
Barton is an ASX, OTCQB, and Frankfurt Stock Exchange-listed gold explorer with a pipeline of advanced exploration projects in South Australia.
As of 30 September 2023, the company had $9.295 million cash and cash equivalents at hand, according to its latest quarterly report.
Relocated from the East Coast in New Zealand to Queensland Australia, Aaliyah is a fervent journalist who has a passion for storytelling. When Aaliyah isn’t writing stories, she is either spending time with friends and family or down at the beach.
Barton Gold (ASX:BGD) has seen a notable jump in international participation in its share register as awareness of the company begins to spread globally.
The $47.90 million market capitalisation company today (6 November 2023) reports it has secured approval for real-time electronic trading and settlement of its OTCQB listed common shares in the US, via the Depository Trust & Clearing Corporation (DTCC).
As previously reported on 15 August 2023, Barton has established a secondary trading listing on the OTCQB market with the ticker code ‘BGDFF’, with JWTT Inc as its OTCQB sponsor.
The company says being approved for real-time electronic trading of its OTCQB listed common shares in the US enables the company to be traded by a wide range of full service US and online brokers.
The benefits of an OTCQB listing benefits for North American investors include quotation, trade, and settlement in US dollars, trading during normal market hours in North America, and BGDFF are the same class the company’s shares traded on the ASX.
Barton Gold Managing Director Alex Scanlon says the company has also spoken with a number of non-institutional North American investors interested to purchase Barton shares, but who for various reasons cannot easily trade ASX securities.
“We are therefore pleased to provide more convenient OTCQB access to our shares and to secure a DTCC registration opening trade in BGDFF to a broad cross-section of North American full service and online brokers.”
DTCC is a subsidiary of the Depository Trust Company, a US company that manages the electronic clearing and settlement of over $80 trillion of public securities from over 130 countries and territories.
Barton Gold is an ASX, OTCQB, and Frankfurt stock exchange listed gold explorer. The company is focused on its assets located in South Australia.
As of 30 September 2023, the company had $9.295 million cash and cash equivalents at hand, according to its latest quarterly report.
Relocated from the East Coast in New Zealand to Queensland Australia, Aaliyah is a fervent journalist who has a passion for storytelling. When Aaliyah isn’t writing stories, she is either spending time with friends and family or down at the beach.
Barton Gold (ASX:BGD) is poised to drill some 20,000m before the end of 2023, with an updated 223 deposit analysis running in parallel as work across its portfolio including the Tunkillia Gold Project ramps up.
The company has now completed priority extensional reverse circulation (RC) and diamond drilling on the cornerstone 223 deposit within the Tunkillia Project.
About 12,500m RC and 1,400m DD drilling has now been completed on the 223 deposit extensions, satellite gold zones 223 North, Area 191, and Area 51, and a new target southeast of 223.
These assays have been prioritised for a potential JORC resources update.
DD drilling has now started at the Area 51 gold zone, and RC drilling has started on the new shear zone ‘offset’ target southeast of the 223 deposit.
Some 4,000m of RC drilling is planned for the ‘offset’ target. The RC rig will then move to Area 51 for a further 1,500m to complete the current Tunkillia drilling program.
“We are targeting 223 deposit extensions, new deposits, and new discoveries as we grow Tunkillia’s large-scale footprint“
Commenting on Tunkillia drilling, Barton MD Alex Scanlon says he expects to drill more than 20,000m before the end of 2023, with updated 223 deposit analysis running in parallel.
“We are targeting 223 deposit extensions, new deposits, and new discoveries as we grow Tunkillia’s large-scale footprint.”
Scanlon recently exclusively told Mining.com.au that at a very high level, Barton Gold is a pure-play gold, pure-play South Australian developer with a narrow focus ‘because capital is scarce and the mining industry is hard enough’.
“If you have a split focus on different metals and different project areas in different countries, you have to divide your time and your team and your capital resources between multiple objectives.
That may suit somebody who believes it’s their objective just to identify something and then sell it along to someone else who’s going to drill it out, but our motivation is development.”
Based in Adelaide, Barton owns some 5,000km-square of land in South Australia’s Gawler Craton, including the Tarcoola, Tunkillia and Challenger gold projects, the latter of which is currently on care and maintenance but features the fully licensed, 650,000-tonnes-per-year Central Gawler Mill.
The company is ASX, OTCQB (OTCQB:BGDFF), and Frankfurt stock exchange (FRA:BGD3) listed with a total attributable 1.3Moz Au JORC mineral resources endowment and a pipeline of advanced exploration projects and brownfield mines.
Mining.com.au Managing Editor Adam Orlando has more than 20 years’ experience in the media having held senior roles at various publications, including as Asia-Pacific Sector Head (Mining) at global newswire Acuris (formerly Mergermarket). Adam has worked in newsrooms around the world including Hong Kong, Singapore, London, and Sydney.
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.
Relocated from the East Coast in New Zealand to Queensland Australia, Aaliyah is a fervent journalist who has a passion for storytelling. When Aaliyah isn’t writing stories, she is either spending time with friends and family or down at the beach.
Barton Gold (ASX:BGD) has added an additional 3,000m of reverse circulation (RC) drilling to its growing program at the Tunkillia Gold Project in South Australia, with overall drilling now surpassing 10,000m.
The $44.96 million market capitalisation company says this additional drilling has been added to the 223 deposit southern extension target.
About 9,900m of RC and some 700m of diamond drilling has now been completed on extensions of the 1.15 million ounce (Moz) gold 223 deposit and satellite gold zones within the 223 North, Area 191, and Area 51 deposits.
The company adds that diamond drilling at Area 191 has been completed and is ongoing at Area 51, as well as 223 North and Southern 223. Following Southern 223, about 1,500m of RC drilling will start at Area 51.
Barton Gold Managing Director Alex Scanlon says the company has its sights on an additional near-term 223 deposit mineral resource upgrade to support its Tunkillia growth strategy.
“With 3 rigs, we are drilling between 2 to 3 thousand metres weekly depending upon ground conditions.
We are accelerating extensional drilling with the goal to support another near-term 223 deposit resources upgrade, followed by results during early 2024 for surrounding Tunkillia growth targets.”
Last week, Scanlon toldMining.com.au that although the company’s Tarcoola and Tunkillia projects — located just 70km apart — are considered one monster project, it makes developmental sense to initially split the 2 should Barton reach its annual production target of 150,000 ounces without undue risk.
Based in Adelaide, Barton owns some 5,000km-square of land in South Australia’s Gawler Craton, including the Tarcoola, Tunkillia, and Challenger gold projects, the latter of which is currently on care and maintenance but features the fully-licensed, 650,000-tonnes-per-year Central Gawler Mill. It’s these assets which form the basis of the company’s grand plan, divided into 2 carefully thought-out stages, which Scanlon hopes will one day deliver “South Australia’s largest independent gold producer”.
Barton Gold had $10.451 million cash and cash equivalents at hand as of 30 June 2023, 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.
Born and raised in the UK, Adam is a sports fanatic with an interest in Rugby League and UFC/MMA. When not training in Muay Thai and Brazilian Jiu Jitsu, Adam attends Griffith University where he is completing his final year of a Communication & Journalism degree.
This article is a sponsored feature from Mining.com.au partner Barton Gold Holdings Ltd. It is not financial advice. Talk to a registered financial expert before making investment decisions.
Alex Scanlon, Managing Director and CEO of Barton Gold (ASX:BGD), is a man with a plan.
“At a very high level, Barton Gold is a pure-play gold, pure-play South Australian developer,” he says.
“We have a narrow focus because capital is scarce and the mining industry is hard enough. If you have a split focus on different metals and different project areas in different countries, you have to divide your time and your team and your capital resources between multiple objectives.
That may suit somebody who believes it’s their objective just to identify something and then sell it along to someone else who’s going to drill it out, but our motivation is development.”
Based in Adelaide, Barton owns roughly 5,000km-square of land in South Australia’s Gawler Craton, including the Tarcoola, Tunkillia and Challenger gold projects, the latter of which is currently on care and maintenance but features the fully-licensed, 650,000-tonnes-per-year Central Gawler Mill.
It’s these assets which form the basis of the company’s grand plan, divided into two carefully thought-out stages, which Scanlon hopes will one day deliver “South Australia’s largest independent gold producer”.
Stage one: Tarcoola
Although Tarcoola and Tunkillia — located just 70km apart — are considered one monster project, it makes greater developmental sense, Scanlon explains, to initially split the two if Barton is to reach its annual production target of 150,000 ounces without undue risk.
“Tarcoola and Tunkillia, they’re fundamentally one project with an enormous footprint, a huge number of structures, and already a very significant amount of mineralisation — well over a million ounces,” Scanlon says.
“So, you split off Tarcoola into stage one utilising the existing processing plant, and then stage two becomes an expansion at Tunkillia. It’s a simpler, staged model.”
Here, Barton’s advantage is its head start. Rather than beginning from scratch, the pathway to initial production is more or less as complex as recommissioning existing assets the company already owns — the historical Perseverance Mine at Tarcoola and the Central Gawler Mill, just 130km to the north-west.
“We’re essentially leveraging existing mining leases, proven logistics, proven metallurgy, proven infrastructure, and a fully-licensed mill to go into operations,” Scanlon adds.
“That means we can become a producer, we can start generating cash flow, and then we can actually fund the development of Tunkillia as an expansion.”
But even if Tunkillia represents an expansion, a certain ‘levelling-up’ for Barton, it’s not as if Tarcoola is out of tricks to pull.
“The pit, such as it is, is why we’re excited — the nature of that mineralisation. This pit is only about 70m deep at its deepest point and produced around 50,000 ounces of gold from a very shallow pit,” Scanlon says.
“Now, we’ve identified a new high-grade gold zone called Perseverance West, just behind the pit wall. This is, theoretically, a potential ‘walk-up, restart’ open pit. What we want to do is convert it into JORC resources and that essentially gives us year one of stage one.”
The high-grade mineralisation at the Perseverance Mine comes, according to Barton, from the Perseverance Fault. Interestingly, the company has identified a 15km-long zone of structures extending to the west of the open pit towards the Warburton prospect.
“What we think — what we hope — is that these structures will point to bodies of mineralisation similar to that at Perseverance. Then you keep growing that to establish several new open pits, and when you build your new mill at Tunkillia, you start sending this material to the new mill. By doing that, you increase the profitability of mineralisation, not only because the trucking distance is about half, but also because that larger mill would be even more efficient than our current one.”
Stage two: Tunkillia
The intent to build a second mill is important also for the fact that Tunkillia has a hefty resource of its own — 1.15 million ounces of gold at the 223 deposit, which Barton intends to grow even further.
“Tunkillia is the step from small, high-grade production to big, bulk efficiency,” Scanlon says.
“We grew the Tunkillia Project’s 223 deposit in April, and we’re looking to grow that again. If we think about stage one being nearer-term and stage two being medium- to longer-term, we want to keep growing the big picture because that’s the real anchor for everything. That’s the real platform on which the big picture objective stands.”
Over the last 18 months, Barton has also identified three new gold zones — 223 North, Area 191 and Area 51 — which are currently the subject of an expansion drilling program Scanlon hopes will deliver a JORC-compliant resource additional to the 223 deposit by mid-2024.
Forgetting for a moment the enviable ease with which Barton plans to start producing gold, such a strategy is potentially a great deal cheaper, too.
“At the end of the day, if you’re making an investment in the mining space, there are two questions you need to be asking yourself,” Scanlon says.
“If we don’t have to go and raise $200 million to build the first mill and $200 million to build a second mill, our shareholders will still own much, much more of our project or our company than would a competitor“
“One, who is the team that’s leading this and do they have strong alignment? And two, how much of this project am I still going to own by the time it gets into operation? You might have a 20-million-ounce gold project in the far northern reaches of Canada, past the Arctic Circle. But if it costs $2 billion in new roads to access it and $1 billion to build it, you’re not going to own very much of it by the time it gets built.
That’s really one of the key questions: if we’re creating all this value, how much are our shareholders still going to own of it? If we don’t have to go and raise $200 million to build the first mill and $200 million to build a second mill, our shareholders will still own much, much more of our project or our company than would a competitor.”
And beyond…
The importance of Barton’s infrastructure cannot be overstated. Without it, the company “would merely be an explorer,” Scanlon says.
“We’re more accurately viewed as an advanced asset manager, which is building a resources base for a more strategic, larger regional development,” he explains.
“Our objective is not to drill these targets and then sell this to a neighbouring company with a mill. That’s a very viable exploration company proposition, but our objective is to actually develop and own these operations, and to continue to grow and expand and consolidate the broader region.”
That, of course, could involve future acquisitions. While it’s not a focus at the moment, Scanlon says any potential portfolio additions will need to have some kind of “rational efficiency to be gained”.
“If we think about this in terms of economic concentric circles, we’ll always be more interested in things that are in our sphere of greater influence and where we have critical mass of operations and infrastructure,” Scanlon says.
The flip side is that a dominant infrastructural presence in the area could open the door to alternative revenue streams, such as ore purchase or toll mining agreements.
For the time being, however, Barton is all-in on the execution of its two-stage plan.
“Even in a relatively down gold market, we are outperforming. We want shareholders to understand that if you want very cost-efficient performance and outperformance, you look to Barton Gold“
“In a strange way of speaking, 2024 for us is really about crystallising and confirming the validity of this two-stage development plan, and reinforcing both stage one and stage two platforms,” Scanlon says.
“We’ve spent 2021 and 2022 proving our geological concept. We’ve spent 2023 essentially starting to now convert some of that into new gold resources — new gold zones and new mineral resources. And 2024 is about demonstrating the potential viability of this two-stage development process.
Even in a relatively down gold market, we are outperforming. We want shareholders to understand that if you want very cost-efficient performance and outperformance, you look to Barton Gold.”
Originally from Perth, Oliver has a keen interest long-form journalism. He has written for a number of publications and was most recently Contributing Editor of The Market Herald’s opinion section, Art of the Essay.
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.
Relocated from the East Coast in New Zealand to Queensland Australia, Aaliyah is a fervent journalist who has a passion for storytelling. When Aaliyah isn’t writing stories, she is either spending time with friends and family or down at the beach.
Barton Gold (ASX:BGD) confirms that a second reverse circulation (RC) drill rig has started drilling at the Tunkillia Gold Project to bolster its recently started RC and diamond drilling program.
Barton now has 2 RC and a single DD drill rig on site at Tunkillia, bringing the total to 3 rigs now operating on site.
The company is targeting further JORC mineral resources growth at the 1.15Moz gold 223 deposit (38Mt @ 0.94g/t Au) and surrounding satellite gold zones.
The second RC drill will allow Egan Drilling’s track mounted RC rig, which is ideal for accessing sandy terrain, to move to a priority regional exploration target southeast of the 223 deposit.
Barton says this target is located along the western margin of the Yarlbrinda Shear Zone, across another structure which intersects the Shear south of the 223 deposit, offsetting it to the northeast.
Barton’s geophysical modeling indicates the potential to host mineralisation similar to that identified in the 223 deposit and its satellite gold zones.
Commenting on the expansion of Tunkillia RC drilling, Barton MD Alex Scanlon says: “We are excited to get a third rig on site to test the southeast offset target this year. This has been a high priority since identifying the new gold zones at areas 223N, 191, and 51.
We are hoping to generate multiple near-term resource updates at Tunkillia, and also to open the next several kilometres of the shear zone for potential repeats of this large-scale open pit mineralisation.”
Barton is focused on exploration in two large-scale mineral systems at the Tarcoola Project and the Tunkillia Project, where the company’s latest technical work demonstrates significant new upside opportunities in historically under-invested assets.
Mining.com.au Managing Editor Adam Orlando has more than 20 years’ experience in the media having held senior roles at various publications, including as Asia-Pacific Sector Head (Mining) at global newswire Acuris (formerly Mergermarket). Adam has worked in newsrooms around the world including Hong Kong, Singapore, London, and Sydney.
Barton Gold (ASX:BGD) has completed drilling within its Tarcoola Gold Project and is now moving to its Tunkillia Gold Project to begin diamond drilling.
A total of 3 holes for 600m was completed at the Perseverance West gold zone, located within the Tarcoola project.
The company had started a reverse circulation (RC) drilling program at Tunkillia, which targeted further mineral resources growth at the 1.15 million ounce of gold 223 deposit.
The $40 million market capitalisation company says drilling will target northern and southern extensions of the 223 deposit and satellite zones, including Area 223 North, Area 191, and Area 51.
Drilling aims to generate additional geological and structural context to support the potential conversion of these targets to a new JORC Mineral Resource Estimate (MRE).
Commenting on the drill program, Barton Gold Managing Director Alex Scanlon says: “This is our broadest diamond drilling program yet and reflects our dual track strategy of regional discovery and resources conversion.
We will continue building Tunkillia’s overall mineral footprint, but we are also looking for continued near term resources growth.
Our hope is that this diamond drilling will help confirm a series of new JORC Mineral Resources across these targets, which could provide further mass and efficiency in future feasibility studies.”
In Area 51, Barton says drilling will also serve to infill the geological model with ‘higher quality’ information focused on a central zone of broad mineralisation, which graded over 40 gram-metres and included drillhole TKB43 with 17m @ 3.2g/t Au from 77m.
Barton Gold is an ASX-listed gold explorer, focused on its Tarcoola and Tunkillia projects, alongside its Central Gawler Mill. All of the company’s assets are located in 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.
Relocated from the East Coast in New Zealand to Queensland Australia, Aaliyah is a fervent journalist who has a passion for storytelling. When Aaliyah isn’t writing stories, she is either spending time with friends and family or down at the beach.
Lithium and nickel explorer and developer Azure Minerals (ASX:AZS) has concluded its $10 million Share Purchase Plan (SPP) to support work at its Andover Project in Western Australia.
The $1.16 billion market capitalisation company says the SPP closed early and oversubscribed on 8 September 2023. Under the offer, shareholders could apply for up to $30,000 of new fully paid ordinary AZS shares at an issue price of $2.40.
This is the same price as the $120 million institutional placement launched by Azure on August 21. The company plans to raise the $120 million in 2 tranches, with ‘strong’ support already received for the first tranche of $100 million.
The second $20 million tranche is subject to shareholder approval, which Azure will seek at a meeting in October.
As for the SPP, valid applications totalling under $37.765 million were received from 2,058 eligible shareholders, representing a participation rate of 27% and an average application amount of $18,350.
Applications also ‘significantly’ exceeded the stated target size of $10 million, although the SPP remained capped at $10 million.
Due to the ‘strong’ support, Azure undertook a pro-rata scaleback of applications received prior to the revised closing date.
The issue of holding statements and refunds of application funds are scheduled for 15 September 2023.
Azure plans to use the funding boost to complete exploration and resource drilling at Andover as it works to announce a maiden Mineral Resource for the project in the first quarter of next year.
Azure Minerals is focused on rapidly advancing its multi-commodity, battery metals-rich Andover Project to build lithium resources through an ‘intensive’ multi-rig drilling campaign and development studies.
The company’s portfolio of assets also includes the Barton Gold and Base Metals project, as well as the Turner River and Coongan Gold projects.
Azure Minerals had $17.4 million cash at hand as of 30 June 2023, according to its latest quarterly report.
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Barton Gold (ASX:BGD) is set to outline its strategy to emerge as a long-term leader in South Australian gold exploration and production.
The $43 million market capitalisation company is presenting this week on day 2 of the 2023 Precious Metals Summit Beaver Creek in Colorado. As part of its presentation, Barton will talk through its ambition to build South Australia’s largest independent gold producer through both its Tarcoola and Tunkillia projects.
The company notes it is applying new technologies and leveraging its asset platform to accelerate regional development, reduce exploration and discovery costs, and minimise dilution.
Barton is looking to get resource and regional exploration drilling underway in H2 2023 through to H1 2024 at Tunkillia, where it has defined a +1-million-ounce (Moz) gold platform that demonstrates ‘significant’ growth potential.
The company notes that 80% of Mineral Resource Estimate (MRE) tonnes and ounces at Tunkillia are within 200m of surface and that a 300m-long ‘high-grade’ core with 80m+ width is present.
At Tarcoola, Barton reports it has various exploration activities lined up to aid in the mapping of an ‘exciting’ system of potential repeat targets.
These activities include structural interpretation, seismic and targeting, resource drilling, and regional exploration drilling, with drilling now underway and expected to be ongoing through to H1 2024, as reported on 8 September 2023.
The company also notes it is well-funded to undertake exploration, with $10.5 million cash at hand at the time of this presentation.
Barton Gold is an ASX-listed gold explorer focused on its pipeline of exploration projects and brownfield mines, as well as its wholly owned gold mill in the Central Gawler Craton of South Australia.
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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.
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Junior explorer Barton Gold (ASX:BGD) has withdrawn from its minority joint venture (JV) arrangements over a string of Sandstone tenements in South Australia.
The company has been hit by claims from JV partner Half Moon (HMP) and its owner, Marmota (ASX:MEU), of denying access to certain Sandstone tenements under the WGCJV partnership — claims Barton has vehemently denied.
In Barton’s response to the public claims in early August, it offered HMP and Marmota a settlement, but the company now says it received no response from either party before the settlement deadline of 5pm on 31 August.
As such, Barton has made the call to withdraw from its joint ventures in the Sandstone region entirely and instead focus more on its core Tarcoola and Tunkillia gold projects and its Central Gawler Mill.
Barton Gold Managing Director Alex Scanlon says notwithstanding the company’s position on the HMP and Marmota claims, it has made ‘multiple attempts’ to settle the dispute on terms it believes are ‘commercially attractive’ to HMP. In fact, Scanlon says he believes Barton’s settlement offer was ‘far superior’ to any outcome HMP could hope to achieve in litigation.
“Based upon HMP’s conduct, we do not see any prospect for a constructive future relationship or, therefore, any merit in maintaining these joint venture interests.
They are not material to our larger regional strategy, and in any event, are unlikely to be commercially viable without substantial investment and access to an existing mill.
“The termination of these joint ventures is a significant and welcome simplification of our regional holdings“
For the reasons detailed in our 3 August 2023 ASX statement, we believe that any claim by Marmota would be ill-advised. However, if necessary, we will vigorously defend our position and bring a substantial counterclaim.
The termination of these joint ventures is a significant and welcome simplification of our regional holdings which eliminates a low-value, time-consuming distraction and allows us to sharpen our focus on the core mission of building a long-term, multi-million-ounce development platform at the Tarcoola and Tunkillia projects.”
The JV partnerships include the Sandstone JV and the WGCJV, under which Baron held around 19% and 21% gold rights interests in the JV tenements, respectively.
Baron will now look to transfer its titled interest in the Sandstone tenements to partner Coombedown Resources (CBD) and transfer its 21.16% gold rights in the WGCJV to HMP.
Barton’s mineral resources will reduce by around 61,400 ounces of gold once this withdrawal is complete, but the company says the move will have no effect on its main areas of focus, Taroola and Tunkillia.
Listed on the ASX, Frankfurt Stock Exchange, and OTCQB markets, Barton holds an ‘advanced’ portfolio of exploration projects and brownfields mines in South Australia. The company, which has a $41.98 million market capitalisation, also owns the only regional gold mill in South Australia’s Central Gawler Craton region.
Barton held a cash balance of around $11 million after completing a $3.5 million institutional placement and a $1 million share purchase plan in July.
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