Barton Gold says drilling has confirmed huge opportunities to grow its 965kox resource in SA. Pic via Getty Images.
There’s a mountain of gold hiding in the shadows at Tunkillia
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New drilling confirms opportunities to substantially grow the 965,000oz resource at Barton Gold’s advanced Tunkillia project in South Australia.
In September, Barton Gold (ASX:BGD) commenced a major drilling program at Tunkillia targeting extensions of the 965koz 223 deposit and the new Area 51 gold zone.
Barton has identified multiple targets for growing the resource, including potential plunging zones of higher-grade mineralisation.
Drilling is also testing for new zones of mineralisation in the previously untested ‘shadow’ of the dyke(s) at the footwall of mineralisation in the current resource.
Initial from 223 assays are now in, and they look good. Highlights include:
- 5m @ 9.00 g/t Au from 339m
- 1m @ 23.5 g/t Au from 146m
- 20m @ 0.88 g/t Au from 257m
- 10m @ 2.52 g/t Au from 275m
Multiple high-grade hits up to 23.5g/t support potential for higher-grade zones, including in new ‘Main Deeps’ target below the higher-grade ‘223 Central’ zone, the company says.
“We are very excited to see indications of not only depth extensions, but entirely new gold zones hiding in the ‘shadow’ of the mafic footwall dyke,” Barton managing director Alex Scanlon says.
“We are on the right track for potential resource growth and expect a steady flow of additional assay results in January, February and March.”
A resource update is planned for March 2023.
An advanced gold play
The Tunkillia project sits on a host structure extending 7km to the north and 7km to the south of the existing resource, with targets all over the joint.
Meanwhile, Barton’s Tarcoola project is a brownfields site within trucking distance of Barton’s mothballed processing plant. Yes, it already has a plant.
The $35m capped stock is very cashed up for its size with ~$10m in the bank and is currently trading at $0.21.
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.
