Resources Growth in Parallel with Optimised Scoping Study at Tunkillia Gold Project
HIGHLIGHTS
Tunkillia: 5,064m reverse circulation (RC) drilling completed targeting extensions of block model to support JORC Mineral Resources Estimate (MRE) growth and an Optimised Scoping Study
ADELAIDE, AU / ACCESSWIRE / December 11, 2024 / Barton Gold Holdings Limited (ASX:BGD)(FRA:BGD3)(OTCQB:BGDFF) (Barton or Company) is pleased to confirm that 5,064m RC drilling metres have been completed at the Tunkillia Gold Project (Tunkillia). Fig 1 – Tunkillia A223 long section showing pit design in stages, March 2024 MRE & key targets 1 During the past 6 months, Barton has grown Tunkillia to a 1.5Moz Au JORC MRE and published an Initial Scoping Study for ~130kozpa gold production with an all-in sustaining cost (AISC) of ~A$1,917/oz Au, a 40% equity internal rate of return (Equity IRR), and a 1.9 year payback period.
The completion of the 5,064 meters of RC drilling at Tunkillia marks a significant milestone for Barton Gold Holdings Limited. The targeted extensions of the block model aim to support the growth of the JORC Mineral Resources Estimate (MRE) and an Optimised Scoping Study. This effort highlights Barton’s commitment to resource growth in parallel with strategic scoping studies.
By expanding the Tunkillia project to a 1.5Moz Au JORC MRE, Barton positions itself for increased gold production potential. The published Initial Scoping Study, projecting approximately 130kozpa gold production, further solidifies the company’s growth trajectory. With an all-in sustaining cost (AISC) of approximately A$1,917 per ounce of gold, a 40% equity internal rate of return (IRR), and a 1.9-year payback period, the project demonstrates strong economic viability.
Effects on Individuals
As an individual investor, the growth of Barton Gold Holdings Limited’s Tunkillia Gold Project presents an opportunity for potential investment. With the expansion of the JORC Mineral Resources Estimate and the publication of an Optimised Scoping Study, the project’s promising outlook may attract interest from investors looking to capitalize on the gold market.
Effects on the World
From a broader perspective, the development and expansion of the Tunkillia Gold Project by Barton Gold Holdings Limited contribute to the overall gold production landscape. Increased resources and optimized scoping studies could lead to enhanced sustainability and efficiency in the gold mining industry, impacting global supply and demand dynamics.
Conclusion
The completion of 5,064m RC drilling at the Tunkillia Gold Project signifies a significant step towards resource growth and an Optimised Scoping Study by Barton Gold Holdings Limited. With a strategic focus on expanding the JORC Mineral Resources Estimate and projecting increased gold production, the company showcases its commitment to sustainable growth and economic viability in the mining sector.
