It’s a move that represents the first of several value-add corporate initiatives for the company, with proceeds slated to go towards large-scale exploration.

Hard-drilling South Australian explorer, Barton Gold (ASX:BGD) has sold a portion of its central Gawler Craton mine camp for $737,500 in a cash transaction.

The camp is owned by a wholly owned subsidiary of Barton and is a part of Barton’s broader Infrastructure Hub, which includes the Central Gawler Mill.

Barton Gold managing director Alexander Scanlon says the portion sold represents capacity which is surplus to the company’s regional strategy and requirements.

Perfect storm for high-value exploration

“This sale of surplus camp represents the first of several value-add corporate initiatives we have underway in parallel with large-scale regional exploration,” he says.

“The Central Gawler Mill will initially service regional toll mining and stage-1 Tarcoola operations.

“The current environment of high asset prices presents strong opportunities to realise significant value, strategically re-stock capital from internal sources and direct proceeds towards high-value exploration.”

Pipeline of advanced exploration projects

Barton is beginning to just scratch the surface at its South Australian projects, which boast a total attributable endowment of ~1.1Moz of gold at 28.68Mt at 1.2g/t gold.

Phase-3 drilling has recently been carried out at the Tarcoola Project – a brownfield open pit mine within trucking distance of Barton’s processing plant.

During 2020 and 2020, the company identified around 200m depth extensions of mineralisation as well as a new 350m long Perseverance West gold zone adjacent to the Perseverance open pit mine.

The plan this year is to expand the initial mineral resource accessible via the existing open pit and find new regional discoveries across an historically rich mineral domain.

Meanwhile, phase-2 drilling at the Tunkilla project has so far completed 20 holes totalling 3,160m to test a high priority discovery target at Area 51 – as well as potential extensions targets at the new 223 North gold zone.

However, Barton believes there could be multiple mineralised satellites at the project after phase-1 drilling in 2021 identified two new gold zones totalling around 1.5km of new mineralisation.

The company expects the assay results will yield some interesting and informative results based upon extensive recent analysis and prior work.




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.