South Australian gold explorer Barton Gold has restocked its coffers for a major exploration push, boosting its war chest with a $725,000 cash sale of camp infrastructure in the Gawler Craton.

The sale for $725,000 + GST will sell a minority portion of the Central Gawler mine camp, near its Central Gawler Mill which is surplus to Barton’s (ASX:BGD) requirements.

It is not the first canny sale Barton has made, providing internal sources of funding for its expansive regional exploration drive.

It previously sold a separate minority portion of the Central Gawler camp for $737,500 + GST.

Those funds will go towards drilling campaigns at Tunkillia and Tarcoola, where results are expected soon.

Tunkillia and Tarcoola

Tunkillia already boasts an impressive resource base of 26.1Mt at 1.15g/t for 965,000oz in a host structure that extends 7km to the north and south.

Meanwhile Tarcoola, which Barton views as having “untapped scale potential” consists of a brownfields open pit mine within trucking distance of the 650,000tpa CIP Central Gawler Mill.

“We are pleased to share this news with investors, with this sale of surplus camp representing the continuation of several value-add corporate initiatives underway in parallel with large-scale exploration,” Barton managing director Alexander Scanlon said.

“We will continue to monetise our surplus assets to generate capital internally and without shareholder dilution, and direct the proceeds toward high-value exploration programs and development initiatives.”

In total, Barton boasts over 1Moz of mineral resources, including ~1.1Moz Au in 28.74Mt at 1.2g/t Au.




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.