ADELAIDE, AUSTRALIA / ACCESSWIRE / November 7, 2024 /
HIGHLIGHTS
~8,500m aircore (AC) drilling completed to date at Tarcoola's Lake Labyrinth Shear Zone (LLSZ)
Start of Tolmer drilling follows recent high-grade assays confirming new Tolmer gold system1
Fig 1 - Tolmer plan map with previous drilling, recent high-grade assays & target AC drill collars1
Barton Gold Holdings Limited (ASX:BGD)(FRA:BGD3)(OTCQB:BGDFF) (Barton or Company) is pleased to confirm that its regional AC drilling program has moved to the Company's South Australian Tarcoola Gold Project (Tarcoola), targeting the new 'Tolmer' gold system recently confirmed by high-grade assays.1
Commenting on the Tolmer aircore drilling program, Barton MD Alexander Scanlon said:
"We are steadily mapping out the commercial pathway for potential 'Stage 1' Tarcoola operations using our fully permitted Central Gawler Mill, followed by 'Stage 2' expansion into the adjacent 130,000ozpa Tunkillia Gold Project with the construction of a second mill. As each of these commercial platforms offers greater value to new regional mineralisation, we remain focused on unlocking the scale potential of our strategic asset package."
Background
During March to July 2024 Barton completed a total ~11,250m reverse circulation (RC) drilling across targets from its latest Tarcoola structural interpretations, including the Perseverance open pit mine and targets to the west.2 Following this drilling, Barton confirmed a JORC Mineral Resources Estimate (MRE) of ~20koz Au @ ~2 g/t Au in the Perseverance Mine's open pit floor.3
Drilling also intersected gold mineralisation across neighbouring targets including School, Old Flame, Warburton, with new high-grade assay results confirming a newly interpreted gold mineralised system at Tolmer comprised of quartz sulphide veining hosted within broader zones of alteration.4
An initial ~2,000m drilling program is planned to test the potential strike of Tolmer alteration zone(s) in the vicinity of recent high grade assay results including intervals of 4m @ 24.6 g/t, 9m @ 3.92 g/t, 14m @ 1.41 g/t and 5m @ 3.15 g/t.4
Fig 2 - Collar locations and key high-grade intersections from May - July Tarcoola RC drilling4
New significant high-grade assay results from May - July 2024 drilling at Tolmer included:4
Hole ID | Interval (m) |
| Grade (g/t Au) |
| Depth (m) | Target Area |
TBM0148 | 9 | @ | 3.92 | from | 202 | Tolmer |
TBM0154 | 1 | @ | 6.20 | from | 88 | Tolmer |
TBM0161 | 4 | @ | 24.6 | from | 95 | Tolmer |
TBM0162 | 5 | @ | 3.15 | from | 97 | Tolmer |
TBM0163 | 2 | @ | 2.71 | from | 20 | Tolmer |
TBM0181 | 14 | @ | 1.41 | from | 80 | Tolmer |
Table 1 - Key high-grade Tolmer assays from May - July 2024 Tarcoola regional RC drilling
1 Refer to ASX announcement dated 27 August 2024
2 Refer to ASX announcements dated 8 / 22 April and 3 / 25 July 2024
3 Refer to ASX announcement dated 3 July 2024
4 Refer to ASX announcement dated 27 August 2024
Authorised by the Managing Director of Barton Gold Holdings Limited.
For further information, please contact:
Alexander Scanlon | Shannon Coates |
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About Barton Gold
Barton Gold is an ASX, OTCQB and Frankfurt Stock Exchange listed Australian gold developer targeting future gold production of 150,000oz annually, with ~1.6Moz Au JORC Mineral Resources (52.3Mt @ 0.94 g/t Au), multiple advanced exploration projects and brownfield mines, and 100% ownership of the only regional gold mill in the renowned central Gawler Craton of South Australia.*
Tarcoola Gold Project
Tunkillia Gold Project *
Infrastructure
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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 Dale Sims (Consultant) | AusIMM / AIG | Fellow / Member |
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 announcements dated 4 March and 16 July 2024. Total Barton JORC (2012) Mineral Resources include 833koz Au (26.9Mt @ 0.96 g/t Au) in Indicated and 754koz Au (25.4Mt @ 0.92 g/t Au) in Inferred categories.
SOURCE: Barton Gold Holdings Limited
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