Barton Gold (ASX: BGD)
Confirmed that upgrade drilling for the S1 and S2 pits at its South Australian Tunkillia Gold Project has completed ahead of schedule and under budget, with 18,893m drilled across 209 holes and 62 days.
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| Barton Gold | ASX: BGD | |
| Stage | Production, development | |
| Metals | Gold | |
| Market Cap | A$262 Million @A$1.10 | |
| Location | South Australia | |
| Website | www.bartongold.com.au |
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Barton Gold Tunkillia Upgrade Drilling – 18,900m Phase 1 Complete
First assays from highest value ‘S1’ area expected imminently
Barton Gold Holdings Limited (ASX:BGD, OTCQB:BGDFF, FRA:BGD3) (Barton or Company) is pleased to confirm that upgrade drilling for the S1 and S2 pits at its South Australian Tunkillia Gold Project (Tunkillia) has completed ahead of schedule and under budget, with 18,893m drilled across 209 holes and 62 days.
Tunkillia’s S1 ‘Starter Pit’ is modelled to yield 206koz Au at a cost of only A$997 / oz, producing over A$800m operating cash and repaying development 2x over during the first year of operations.
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HIGHLIGHTS
• Phase 1 reverse circulation (RC) upgrade drilling on Tunkillia’s high value ‘Starter Pits’ complete1
• Drilling completed ahead of schedule and under budget, with over 300m completed per day
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Barton Managing Director Alex Scanlon commented;
“Tunkillia’s S1 pit area contains the project’s highest grades in a shallow central zone. Modelling indicates that the S1 pit will pay back Tunkillia’s entire development cost more than 2x over during the first year of operations.
“Having been approached by multiple prospective development and finance partners, upgrading this area to JORC ‘Measured’ category will underwrite confidence in this profile while we evaluate the optimal path forward.
“We would like to recognise and thank Raglan Drilling for their professionalism and coordination with the Barton Gold team, delivering this Phase 1 drilling program safely, under budget, and well ahead of schedule.”
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Disclosure
At the time of writing the author holds shares in Barton Gold.
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