First Mill Cleanout Materials Grade approx. 3,000 g/t Au
Adelaide, May 31, 2023 AEST (ABN Newswire) - Barton Gold Holdings Limited (
ASX:BGD) is pleased to announce that preliminary assays have been received for gold bearing materials recovered from the Central Gawler Mill.
HIGHLIGHTS
- First 3.8 tonnes of December 2022 mill cleanout materials have been cleaned and prepped
- Preliminary assays indicate an average grade of approximately 3,000 g/t Au
In December 2022 Barton completed a preliminary review of the Central Gawler Mill, during which the gold room and gravity circuit were disassembled, cleaned and placed in secure storage, with balls mills, floors and sumps stripped. An estimated 10+ tonnes of gold bearing materials were recovered.
Assays for the first 3.8 dry tonnes of materials have returned an average grade of ~3,000 g/t Au, for a contained metal value of ~375oz Au worth ~AUD $1.1 million at current AUD gold prices.
These figures are indicative only and final recoveries may vary significantly based upon sampling, metallurgical and other factors. The recovered materials are highly variable in nature, and these results do not forecast results for the balance of the gold bearing materials still in preparation for processing.
Commenting on the mill recoveries assays, Barton MD Alex Scanlon said:
"One of Barton's unique advantages is the ability to monetise a large asset portfolio, many of which are surplus to future requirements, to generate non-dilutive cash totalling more than $5.2m (net) since our June 2021 IPO.
"The Central Gawler Mill provides significant leverage for regional development of gold mineralisation, and is also yielding considerable near term value for Barton as we advance our regional exploration and development initiatives. We look forward to sharing assay results for the balance of recovered materials as they arrive."
About Barton Gold Holdings Limited
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.
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