Barton Gold's Latest Drilling at Tarcoola Uncovers High-Grade Gold
BARTON GOLD HOLDINGS LIMITED (BGD) Share Update September 2024 Monday 30th
Barton Gold Confirms High-Grade Gold at Tarcoola Project
Barton Gold Holdings Limited (ASX: BGD, FRA: BGD3, OTCQB: BGDFF) has announced significant high-grade gold assays from its latest drilling campaign at the Tarcoola Gold Project in South Australia.
Instant Summary:
- High-grade gold assays confirmed at Tarcoola Project.
- Significant intersections include 5m @ 5.94 g/t Au from 11m and 4m @ 10.4 g/t Au from 32m.
- Potential for additional JORC Resources and extensions.
- 10 new drill holes completed, totaling 882 meters.
- New gold zone identified east of the July 2024 MRE block model.
Drilling Results
Barton Gold Holdings Limited has confirmed high-grade gold mineralization at the Perseverance Mine within the Tarcoola Gold Project. The recent drilling campaign, which included 10 new holes totaling 882 meters, has revealed significant gold intersections.
Key high-grade assays include:
- TBM0212: 5m @ 5.94 g/t Au from 11m, including 1m @ 23.8 g/t Au
- TBM0209: 4m @ 10.4 g/t Au from 32m, including 1m @ 34.4 g/t Au
- TBM0215: 6m @ 6.17 g/t Au from 39m, including 2m @ 13.4 g/t Au
- TBM0213: 7m @ 9.63 g/t Au from 67m, including 2m @ 28.0 g/t Au
New Gold Zone
The follow-up drilling has confirmed a new gold zone to the east of the July 2024 Mineral Resource Estimate (MRE) block model. This new zone is shallow, located within 10-100 meters of the pit floor, and is expected to increase the total recoverable gold ounces from the same development profile.
The company plans to review potential extensions of the mineralization as part of their strategy to position their assets for a potential 'Stage 1' operation utilizing their fully permitted Central Gawler Mill.
Resource Modelling
Barton Gold's drilling has focused on testing shallow zones of the pit floor suspected to host further gold mineralization. The goal is to infill and extend the July 2024 MRE block model and convert additional JORC Resources. The new mineralization encountered in this drilling is expected to support the definition of additional JORC Resources.
The company is also reviewing modelled, but unclassified, extensions for potential follow-up drilling.
The confirmation of high-grade gold assays at the Tarcoola Project is a positive development for Barton Gold. This discovery is likely to boost investor confidence and could lead to an increase in the company's stock price. The potential for additional JORC Resources and the identification of new gold zones highlight the project's growth potential.
Investor Reaction:
Analysts are likely to view this announcement favorably, given the high-grade nature of the gold assays and the potential for resource expansion. Investors may see this as a strong indicator of the project's viability and future profitability.
Conclusion:
Investors should keep an eye on further updates from Barton Gold, particularly regarding the potential extensions and resource modeling. The company's strategic plans for the Tarcoola Project and their fully permitted Central Gawler Mill will be crucial in maintaining and enhancing investor confidence.