'Stage 1' Resources at Central Gawler Mill Grow to 223koz Au
Barton Gold Holdings Limited (ASX:BGD)(FRA:BGD3)(OTCQB:BGDFF) (Barton or Company) is pleased to announce an updated MRE for its South Australian Challenger Gold Project (Challenger).
Challenger JORC (2012) Mineral Resources Estimate (MRE) grow to 223koz gold (9.56Mt @ 0.72 g/t Au), including 81,200oz Au contained in the existing high-grade open pit zones.
Barton has identified several potential sources of economically viable gold mineralisation adjacent to the Central Gawler Mill for use as lower-cost and lower-risk 'Stage 1′ mill feed, and is targeting feasibility studies by the end of 2025, with initial 'Stage 1' operations by the end of 2026.
Barton is also evaluating the potential to reprocess (in particular) Tailings Storage Facility (TSF) 1 to extract gold as a part of Stage 1 operations. TSF1 was constructed in 2002 and decommissioned during 2009, during which time it serviced open pit mining operations from Challenger Main and the highest-grade portion of the historical U/G mine. This highest-grade mineralisation was processed last during the operation of TSF1, resulting in a higher-grade ring of mineralisation located around the periphery of TSF1 where discharge spigots were located. Examples of the consolidation of higher-grade mineralisation around the periphery of TSF1 include:
Hole ID
Interval
Including:
CHB0044
20m @ 0.70 g/t Au from 2 metres
1m @ 1.29 g/t Au from 11 metres
CHB0047
21m @ 0.66 g/t Au from 2 metres
10m @ 0.88 g/t Au from 3 metres
CHB0056
19m @ 0.66 g/t Au from 2 metres
4m @ 1.05 g/t Au from 5 metres
CHB0084
19m @ 0.75g/t Au from 2 metres
3m @ 1.06 g/t Au from 10 metres
Table – Select Challenger TSF1 higher-grade intervals from 2023 and 2025 validation drilling
Commenting on the JORC Mineral Resources update, Barton MD Alexander Scanlon said:
'As indicated to the market for the past ~24 months, we have been analysing the potential for JORC Mineral Resources in the immediate vicinity of our fully permitted Central Gawler Mill. This infrastructure is a significant leverage point for BGD's investors, and provides the option for a shorter, lower-cost, and lower-risk pathway to operations and the re-rating of BGD to 'producer' status. There is significant arbitrage value in this 'real option'.
'With the sustained upward move in gold prices, we will now look to exercise that option. During the balance of 2025 we will complete feasibility analyses to determine the preferred development pathway, with the objective to commence our initial 'Stage 1′ operations before the end of 2026.'
Full details are contained in the complete announcement, which can be accessed on the ASX website, the investor section of Barton's website, or directly by clicking here.
Authorised by the Managing Director of Barton Gold Holdings Limited.
For further information, please contact:
Alexander Scanlon
Managing Director
a.scanlon@bartongold.com.au
+61 425 226 649
Jade Cook
Company Secretary
cosec@bartongold.com.au
+61 8 9322 1587
About Barton Gold
Barton Gold is an ASX, OTCQB and Frankfurt Stock Exchange listed Australian gold developer targeting future gold production of 150,000ozpa with 1.9Moz Au & 3.1Moz Ag JORC Mineral Resources (73.0Mt @ 0.79 g/t Au), brownfield mines, and 100% ownership of the region's only gold mill in the renowned Gawler Craton of South Australia.*
Tarcoola Gold Project Fully permitted open pit mine with ~20koz Au within trucking distance of Barton's Central Gawler Mill
Historical goldfield with new high-grade gold-silver discovery in grades up to 83.6 g/t Au and 17,600 g/t Ag
Tunkillia Gold Project 1.6Moz Au & 3.1Moz Ag JORC Mineral Resources
Optimised Scoping Study for competitive ~120kozpa gold and ~250kozpa silver bulk open pit operation
Challenger Gold Project 223koz Au JORC Mineral Resources
Region's only gold processing plant (650ktpa CIP)
Competent Persons Statement & Previously Reported Information
The information in this announcement that relates to the historic Exploration Results and Mineral Resources as listed in the table below is based on, and fairly represents, information and supporting documentation prepared by the Competent Person whose name appears in the same row, who is an employee of or independent consultant to the Company and is a Member or Fellow of the Australasian Institute of Mining and Metallurgy (AusIMM), Australian Institute of Geoscientists (AIG) or a Recognised Professional Organisation (RPO). Each person named in the table below has sufficient experience which is relevant to the style of mineralisation and types of deposits under consideration and to the activity which he has undertaken to quality as a Competent Person as defined in the JORC Code 2012 (JORC).
Activity
Competent Person
Membership
Status
Tarcoola Mineral Resource (Stockpiles)
Dr Andrew Fowler (Consultant)
AusIMM
Member
Tarcoola Mineral Resource (Perseverance Mine)
Mr Ian Taylor (Consultant)
AusIMM
Fellow
Tarcoola Exploration Results (until 15 Nov 2021)
Mr Colin Skidmore (Consultant)
AIG
Member
Tarcoola Exploration Results (after 15 Nov 2021)
Mr Marc Twining (Employee)
AusIMM
Member
Tunkillia Exploration Results (until 15 Nov 2021)
Mr Colin Skidmore (Consultant)
AIG
Member
Tunkillia Exploration Results (after 15 Nov 2021)
Mr Marc Twining (Employee)
AusIMM
Member
Tunkillia Mineral Resource
Mr Ian Taylor (Consultant)
AusIMM
Fellow
Challenger Mineral Resource
Mr Ian Taylor (Consultant)
AusIMM
Fellow
The information relating to historic Exploration Results and Mineral Resources in this announcement is extracted from the Company's Prospectus dated 14 May 2021 or as otherwise noted in this announcement, available from the Company's website at www.bartongold.com.au or on the ASX website www.asx.com.au. The Company confirms that it is not aware of any new information or data that materially affects the Exploration Results and Mineral Resource information included in previous announcements and, in the case of estimates of Mineral Resources, that all material assumptions and technical parameters underpinning the estimates, and any production targets and forecast financial information derived from the production targets, continue to apply and have not materially changed. The Company confirms that the form and context in which the applicable Competent Persons' findings are presented have not been materially modified from the previous announcements.
Cautionary Statement Regarding Forward-Looking Information
This document may contain forward-looking statements. Forward-looking statements are often, but not always, identified by the use of words such as 'seek', 'anticipate', 'believe', 'plan', 'expect', 'target' and 'intend' and statements than an event or result 'may', 'will', 'should', 'would', 'could', or 'might' occur or be achieved and other similar expressions. Forward-looking information is subject to business, legal and economic risks and uncertainties and other factors that could cause actual results to differ materially from those contained in forward-looking statements. Such factors include, among other things, risks relating to property interests, the global economic climate, commodity prices, sovereign and legal risks, and environmental risks. Forward-looking statements are based upon estimates and opinions at the date the statements are made. Barton undertakes no obligation to update these forward-looking statements for events or circumstances that occur subsequent to such dates or to update or keep current any of the information contained herein. Any estimates or projections as to events that may occur in the future (including projections of revenue, expense, net income and performance) are based upon the best judgment of Barton from information available as of the date of this document. There is no guarantee that any of these estimates or projections will be achieved. Actual results will vary from the projections and such variations may be material. Nothing contained herein is, or shall be relied upon as, a promise or representation as to the past or future. Any reliance placed by the reader on this document, or on any forward-looking statement contained in or referred to in this document will be solely at the readers own risk, and readers are cautioned not to place undue reliance on forward-looking statements due to the inherent uncertainty thereof.
*Refer to Barton Prospectus dated 14 May 2021 and ASX announcement dated 30 June 2025. Total Barton JORC (2012) Mineral Resources include 1,031koz Au (39.3Mt @ 0.82 g/t Au) in Indicated category and 834koz Au (33.8Mt @ 0.77 g/t Au) in Inferred category, and 3,070koz Ag (34.5Mt @ 2.80 g/t Ag) in Inferred category as a subset of Tunkillia gold JORC (2012) Mineral Resources.
SOURCE: Barton Gold Holdings Limited
View the original press release on ACCESS Newswire
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