Barton Gold (ASX:BGD) reports it has been awarded new tenement EL6845 at the Tunkillia Gold Project in South Australia, via its wholly owned subsidiary Tunkillia 2.
The company’s share price rose 7.142% to $0.150 as of 9.45am AWST on the back of the announcement.
Tunkillia hosts a 965,000oz Au JORC (2012) Mineral Resource at the cornerstone 223 Deposit. During the past 12 months Barton has significantly expanded the project’s mineralised footprint, with the discovery of 3 new gold zones (Areas 223 North, 191 and 51) and a ‘highergrade’ zone confirmed in the 223 Deposit.
EL6845 comprises a 77km-square surface area located adjacent to EL5901, which hosts the 223 Deposit.
Barton is currently undertaking a 9,000m reverse circulation drilling program targeting depth extensions at the 223 Deposit, with a focus on the higher-grade central and southern zones of mineralisation.
Barton expects that this drilling, together with prior drilling during July 2021 and May 2022, will provide the basis for an updated JORC (2012) Mineral Resource Estimate at Tunkillia.
Commenting on the new tenement, Barton MD Alex Scanlon said: “We are pleased to increase our strategic tenement footprint in South Australia’s central Gawler Craton, and we thank the South Australian Government for the granting of this tenement.
“The past year has clearly demonstrated the significant gold endowment and growth potential of the Tunkillia Project, with new gold mineralisation identified at every target tested”
The past year has clearly demonstrated the significant gold endowment and growth potential of the Tunkillia Project, with new gold mineralisation identified at every target tested.
We believe the upside potential here is substantial, and we are actively working to grow the project’s mineral footprint and JORC Mineral Resources well beyond the current boundaries.”
Barton is an ASX-listed Australian gold exploration company with a total attributable 1.1Moz Au JORC (2012) Mineral Resources endowment (28.68Mt @ 1.2 g/t Au), 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.
The Tunkillia Gold Project has 965,000oz Au Mineral Resources (26.1Mt @ 1.15 g/t Au) and the host structure extends 7km north and 7km south.
Write to Adam Orlando at Mining.com.au
Images: Barton Gold Ltd