Barton Gold is in the money, landing $595,000 in exploration grants from SA Government
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A significant vote of confidence in Barton Gold from the South Australian Government, with Barton awarded a $595,000 share of this year’s $3.3 million Accelerated Discovery Initiative (ADI) funding pool.
The company’s ML6455 has been the subject of significant historical gold interest, with mining during the early 1900s and the Perseverance Mine between 2017 and 2018.
However, modern exploration in the highly prospective terrain has been relatively insignificant until Barton Gold (ASX:BGD) identified a new, highly prospective system of shears and faults during 2020.
It is there, at the Tarcoola Project, that the junior gold company plans to undertake 2D seismic surveys to improve resolution of the near subsurface (up to ~1,500m depth) and the interpreted regional structural model, including conceptual drill testing of inferred structural targets to validate local interpretation.
ADI Round 3 funding will also be used to test drill and validate the GPR trial output data collected during 2021, to enhance the understanding of Tarcoola’s very near surface structural conditions.
Barton managing director Alexander Scanlon said these funds will “significantly accelerate work to map key structural and stratigraphic controls in the Tarcoola area” while also improving regional structural modelling and identifying new exploration opportunities.
“We are grateful to receive such incredible support from the South Australian Government in our mission to unlock the regional structural context and reinvigorate gold exploration in the central Gawler Craton.”
Under Round 2 of the ADI programme Barton has commenced trialling Portable PPB’s detectORETM technology, originally patented by the Commonwealth Scientific and Industrial Research Organisation (CSIRO), across high priority Tarcoola targets.
The technology offers the potential to revolutionise testing with gold results available in-field in as little as 8 hours’ time versus several weeks for conventional lab based assays.
Barton completed Phase 1 orientation sampling at the Tarcoola Gold Project in collaboration with CSIRO during December 2021 and is awaiting lab analysis results.
This article was developed in collaboration with Barton Gold, a Stockhead advertiser at the time of publishing.
This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.