First assays from highest value ‘S1′ area expected imminently
HIGHLIGHTS
-
Phase 1 reverse circulation (RC) upgrade drilling on Tunkillia’s high value ‘Starter Pits’ complete1
-
Drilling completed ahead of schedule and under budget, with over 300m completed per day
ADELAIDE, AU / ACCESS Newswire / November 24, 2025 / Barton Gold Holdings Limited (ASX:BGD)(OTCQB:BGDFF)(FRA:BGD3) (Barton or Company) is pleased to confirm that upgrade drilling for the S1 and S2 pits at its South Australian Tunkillia Gold Project (Tunkillia) has completed ahead of schedule and under budget, with 18,893m drilled across 209 holes and 62 days.
Tunkillia’s S1 ‘Starter Pit’ is modelled to yield 206koz Au at a cost of only A$997 / oz, producing over A$800m operating cash and repaying development 2x over during the first year of operations.1
Fig. 1 – Long section showing Area 223 ‘Main’ pit and stages, and Tunkillia JORC MRE block model1
Commenting on Tunkillia’s Phase 1 upgrade drilling, Barton Managing Director Alex Scanlon said:
“Tunkillia’s S1 pit area contains the project’s highest grades in a shallow central zone. Modelling indicates that the S1 pit will pay back Tunkillia’s entire development cost more than 2x over during the first year of operations.
“Having been approached by multiple prospective development and finance partners, upgrading this area to JORC ‘Measured’ category will underwrite confidence in this profile while we evaluate the optimal path forward.
“We would like to recognise and thank Raglan Drilling for their professionalism and coordination with the Barton Gold team, delivering this Phase 1 drilling program safely, under budget, and well ahead of schedule.”
Program background
Figure 2 shows Tunkillia’s S1 and S2 optimised pit outlines, with completed Phase 1 drill holes (green dots). Drilling is designed to convert S1 and S2 to JORC (2012) ‘Indicated’ category, and some of S1 to ‘Measured’, to support future conversion to ‘Proven’ and ‘Probable’ Ore Reserves (subject to technical assessment).1
The central portion of the S1 pit contains a shallow, ~300m long zone of high-grade gold mineralisation within a broad (80 – 100m wide) zone of bulk open-pittable mineralisation.1 Historical drilling in the S1 area by Barton and others has yielded broad, high-grade assays such as 10m @ 15.7 g/t Au from 54m, 9m @ 6.57 g/t Au from 72m, 17m @ 5.90 g/t Au from 79m, and 15m @ 7.64 g/t Au from 100m depth.2
Phase 2 RC upgrade drilling is planned for March to June 2026, targeting conversion of all other Tunkillia OSS modelled open pit mineralisation to JORC (2012) ‘Indicated’ category. Diamond drilling (DD) will infill and expand geotechnical and metallurgical data to support further pit optimisation and feasibility studies.
Fig. 2 – Tunkillia S1 & S2 optimised open pit outlines with completed Phase 1 drilling (green dots)
Authorised by the Board of Directors of Barton Gold Holdings Limited.
For further information, please contact:
|
Alexander Scanlon |
Jade Cook |
About Barton Gold
Barton Gold is an ASX, OTCQB and Frankfurt Stock Exchange listed Australian gold developer targeting future gold production of 150,000ozpa with 2.2Moz Au & 3.1Moz Ag JORC Mineral Resources (79.9Mt @ 0.87g/t Au), brownfield mines, and 100% ownership of the region’s only gold mill in the renowned Gawler Craton of South Australia.*
|
Challenger Gold Project
Tarcoola Gold Project
Tunkillia Gold Project
Wudinna Gold Project
|
|
Competent Persons Statement & Previously Reported Information
The information in this announcement that relates to the historic Exploration Results and Mineral Resources as listed in the table below is based on, and fairly represents, information and supporting documentation prepared by the Competent Person whose name appears in the same row, who is an employee of or independent consultant to the Company and is a Member or Fellow of the Australasian Institute of Mining and Metallurgy (AusIMM), Australian Institute of Geoscientists (AIG) or a Recognised Professional Organisation (RPO). Each person named in the table below has sufficient experience which is relevant to the style of mineralisation and types of deposits under consideration and to the activity which he has undertaken to quality as a Competent Person as defined in the JORC Code 2012 (JORC).
|
Activity |
Competent Person |
Membership |
Status |
|
Tarcoola Mineral Resource (Stockpiles) |
Dr Andrew Fowler (Consultant) |
AusIMM |
Member |
|
Tarcoola Mineral Resource (Perseverance Mine) |
Mr Ian Taylor (Consultant) |
AusIMM |
Fellow |
|
Tarcoola Exploration Results (until 15 Nov 2021) |
Mr Colin Skidmore (Consultant) |
AIG |
Member |
|
Tarcoola Exploration Results (after 15 Nov 2021) |
Mr Marc Twining (Employee) |
AusIMM |
Member |
|
Tunkillia Exploration Results (until 15 Nov 2021) |
Mr Colin Skidmore (Consultant) |
AIG |
Member |
|
Tunkillia Exploration Results (after 15 Nov 2021) |
Mr Marc Twining (Employee) |
AusIMM |
Member |
|
Tunkillia Mineral Resource |
Mr Ian Taylor (Consultant) |
AusIMM |
Fellow |
|
Challenger Mineral Resource (above 215mRL) |
Mr Ian Taylor (Consultant) |
AusIMM |
Fellow |
|
Challenger Mineral Resource (below 90mRL) |
Mr Dale Sims |
AusIMM / AIG |
Fellow / Member |
|
Wudinna Mineral Resource (Clarke Deposit) |
Ms Justine Tracey |
AusIMM |
Member |
|
Wudinna Mineral Resource (all other Deposits) |
Mrs Christine Standing |
AusIMM / AIG |
Member / Member |
The information relating to historic Exploration Results and Mineral Resources in this announcement is extracted from the Company’s Prospectus dated 14 May 2021 or as otherwise noted, available from the Company’s website at www.bartongold.com.au or on the ASX website www.asx.com.au. The Company confirms that it is not aware of any new information or data that materially affects the Exploration Results and Mineral Resource information included in previous announcements and, in the case of estimates of Mineral Resources, that all material assumptions and technical parameters underpinning the estimates, and any production targets and forecast financial information derived from the production targets, continue to apply and have not materially changed. In accordance with ASX Listing Rule 5.19.2, the Company further confirms that the material assumptions underpinning any production targets and the forecast financial information derived therefrom continue to apply and have not materially changed. The Company confirms that the form and context in which the applicable Competent Persons’ findings are presented have not been materially modified from the previous announcements.
Cautionary Statement Regarding Forward-Looking Information
This document may contain forward-looking statements. Forward-looking statements are often, but not always, identified by the use of words such as “seek”, “anticipate”, “believe”, “plan”, “expect”, “target” and “intend” and statements than an event or result “may”, “will”, “should”, “would”, “could”, or “might” occur or be achieved and other similar expressions. Forward-looking information is subject to business, legal and economic risks and uncertainties and other factors that could cause actual results to differ materially from those contained in forward-looking statements. Such factors include, among other things, risks relating to property interests, the global economic climate, commodity prices, sovereign and legal risks, and environmental risks. Forward-looking statements are based upon estimates and opinions at the date the statements are made. Barton undertakes no obligation to update these forward-looking statements for events or circumstances that occur subsequent to such dates or to update or keep current any of the information contained herein. Any estimates or projections as to events that may occur in the future (including projections of revenue, expense, net income and performance) are based upon the best judgment of Barton from information available as of the date of this document. There is no guarantee that any of these estimates or projections will be achieved. Actual results will vary from the projections and such variations may be material. Nothing contained herein is, or shall be relied upon as, a promise or representation as to the past or future. Any reliance placed by the reader on this document, or on any forward-looking statement contained in or referred to in this document will be solely at the readers own risk, and readers are cautioned not to place undue reliance on forward-looking statements due to the inherent uncertainty thereof.
* Refer to Barton Prospectus dated 14 May 2021 and ASX announcement dated 8 September 2025. Total Barton JORC (2012) Mineral Resources include 1,049koz Au (39.7Mt @ 0.82 g/t Au) in Indicated category and 1,186koz Au (40.2Mt @ 0.92 g/t Au) in Inferred category, and 3,070koz Ag (34.5Mt @ 2.80 g/t Ag) in Inferred category as a subset of Tunkillia gold JORC (2012) Mineral Resources.
1 Refer to ASX announcements dated 11 December 2023, and 4 March and 5 May 2025
2 Refer to Prospectus and ASX announcement dated 15 November 2021
SOURCE: Barton Gold Holdings Limited
View the original press release on ACCESS Newswire
