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Adelaide, April 21, 2023 AEST (ABN Newswire) - During the quarter Barton Gold Holdings Limited (ASX:BGD) completed the major drilling programs underway at the Tunkillia Project (Tunkillia), including 11,840m reverse circulation drilling and 2,201m diamond drilling (plus 602m of reverse circulation and mud rotary pre-collars).
Commenting on the Company's March 2023 quarter, Barton MD Alex Scanlon said:
"It has been another very busy quarter for Barton as we progress both project and corporate development. With ~14,000m recent drilling identifying multiple extensions of mineralisation at Tunkillia, and potential new zones in previously untested areas, we are confident in the potential for significant discoveries and growth.
"We expect to shortly publish an initial MRE update for Tunkillia's 223 Deposit based on ~15,000m of new drilling.
During the balance of the year we will continue testing new discovery targets at both Tunkillia and Tarcoola.
"We will also continue asset monetisation initiatives which have proven invaluable to Barton, generating over $5m net non-dilutive capital since our IPO during June 2021, and significantly bolstering our treasury."
Drilling has focused on testing depth extensions of the 223 Deposit and the Area 51 prospect identified during September 2022.
During the quarter Barton received the bulk of results from drilling on the 223 Deposit, and subsequent to quarter end received all assays for drilling on the Area 51 prospect. Results confirmed a total ~800m length of potential 223 Deposit depth extensions, and broad mineralisation at Area 51.2 The Company is currently working on an updated MRE for the 223 Deposit, and is further reviewing Area 51.
Tunkillia Gold Project - BGD 100%
Barton has identified multiple targets for potential Resource growth in the 223 Deposit including new mineralised zones, and potential plunging higher-grade mineralisation, below the 2020 block model.
~90% of the drilling informing the 223 Deposit's 965koz Au MRE (2020) was completed when the USD gold price was mostly below $500/oz. Depth extensions and regional targets were poorly tested.
Recent drilling results support Barton's thesis of mineralisation in historically poorly tested areas outside of, and below, the 2020 block model and the potential extension to depth of the 2020 MRE.
Reverse circulation and diamond drilling assays results at the 223 Deposit include:
TKB71: 16m @ 0.79 g/t Au from 219m 32m @ 1.22 g/t Au from 319m
TKB72: 9m @ 1.74 g/t Au from 296m 14m @ 1.07 g/t Au from 312m
TKB76: 9m @ 1.38 g/t Au from 309m 17m @ 1.05 g/t Au from 335m
TKB78: 9m @ 2.20 g/t Au from 225m
TKB82: 6m @ 2.51 g/t Au from 43m 4m @ 2.88 g/t Au from 50m
TKB83: 9m @ 2.50 g/t Au from 61m 20m @ 1.00 g/t Au from 263m
TKB93: 10m @ 1.67 g/t Au from 119m 11m @ 1.08 g/t Au from 219m
TKB85D: 11.3m @ 4.04 g/t Au from 174m
TKB88D: 14.8m @ 1.01 g/t Au from 394m
TKB89D: 11m @ 3.7g/t Au from 185m
The results indicate depth extensions of mineralisation along ~800m of total strike length within the 223 Deposit, with intercepts ranging from 25 - 150m below the current JORC Resource.
223 Deposit - 'South Plunge' Target
Assays in holes TKB71 and TKB72 show broad mineralisation above and below a dacite dyke cross-cutting the MRE, and indicate a broad new zone of mineralisation ~25 - 60m below the 2020 MRE pit shell.
Drilling results indicate ~500m of potentially continuous, broad mineralisation some 25 - 150m below the 2020 MRE pit shell, and increased potential to move this area into JORC Mineral Resource classification.
223 Deposit - 'Main Deeps' North
Final drilling assays for the 223 Deposit also identified multiple broad and high-grade intersections outside the current JORC Resource at a key northern target.
Of note, shallow high-grade assays next to 223 Deposit also indicate a new zone of shallow quartz vein hosted mineralisation.
Hole TKB83 returned an assay of 9m @ 2.5 g/t Au from 61m, and hole TKB82 returned assays of 6m @ 2.51 g/t Au from 43m and 4m @ 2.88 g/t Au from 50m.
Given the relative position of the downhole intersections and logged quartz veins, Barton believes this to represent a hanging wall quartz vein hosted zone with untested potential for additional mineralisation.
These results, located less than 100m from the centre of the 223 Deposit, present another example of the potential for new discoveries in the immediate vicinity.
Results also indicate ~300m of potentially continuous, broad mineralisation some 25 - 150m below the 2020 MRE pit shell, and increased potential to move this area into JORC Mineral Resource classification.
Area 51 Prospect
In September 2022 a new ~500m gold zone was confirmed at the Area 51 prospect, northwest of the 223 Deposit.
Barton completed additional reverse circulation and diamond drilling in January and February 2023 which has extended the known mineralised strike to ~700m length, with a higher-grade central 'core'.
Key results from Area 51 drilling include:
TKB43: 17m @ 3.20 g/t Au from 77m 45m @ 0.92 g/t Au from 97m
TKB48: 8m @ 0.99 g/t Au from 140m 10m @ 1.22 g/t Au from 158m
TKB95D: 28.55m @ 1.32 g/t Au from 91.45m 25m @ 0.78 g/t Au from 125m
TKB106: 6m @ 1.99 g/t Au from 140m
TKB94D: 20m @ 0.70 g/t Au from 163m
CORPORATE PRESENTATIONS & MEDIA
During the quarter Barton presented to AMEC's Perth Investor Briefing (7 Feb), Mines & Money's Miami Conference (23 Feb), Red Cloud's Pre-PDAC event (3 Mar) and the Swiss Mining Institute (22 May 2023).
Copies of the Company's presentations and other media, including interviews and video recordings of conference presentations, are available on the 'Investor' section of Company's website:
Barton Gold Holdings Limited (ASX:BGD) (FRA:BGD3) (OTCQB:BGDFF) is an ASX listed Australian gold exploration company with a total attributable ~1.1Moz Au JORC (2012) Mineral Resources endowment (28.74Mt @ 1.2 g/t Au), a pipeline of advanced exploration projects and brownfield mines, and 100% ownership of the only regional gold mill in the central Gawler Craton of South Australia.
Contact
Alexander Scanlon Managing Director E: a.scanlon@bartongold.com.au T: +61 425 226 649
ASX:BGD) completed the major drilling programs underway at the Tunkillia Project (Tunkillia), including 11,840m reverse circulation drilling and 2,201m diamond drilling (plus 602m of reverse circulation and mud rotary pre-collars). 
Barton Gold Holdings Limited (ASX:BGD) (FRA:BGD3) (OTCQB:BGDFF) is an ASX listed Australian gold exploration company with a total attributable ~1.1Moz Au JORC (2012) Mineral Resources endowment (28.74Mt @ 1.2 g/t Au), a pipeline of advanced exploration projects and brownfield mines, and 100% ownership of the only regional gold mill in the central Gawler Craton of South Australia.
