- An upgrade to the Area 51 target underpins the move
- Barton Gold continues to look around its acreage for more opportunity
- Shares closed Friday at 25c
An upgrade to the on-site Area 51 target of interest has seen Barton Gold’s (ASX:BGD) Tunkillia play lift its JORC resource to 1.5Moz of gold.
The resource assumes 51.3Mt of ore @ 0.91g/t gold with 115.2K new ounces added at Area 51 for 4.98Mt ore @ 0.72g/t gold.
The company said on Monday there is open pittable mineralisation known on-site nearby another key target, the ‘223 Deposit.’
This is the 3rd JORC upgrade for Tunkillia in a year with 0.53M ounces added for what is reportedly a cost of A$15/oz on an all in basis.
High grade targets at Tunkillia and Tarcoola continue to remain the agenda for the company’s 2024 exploration run.
Monday’s news on new resource upgrades were backed by over 8km worth of drill core results.
“The updated 1.5Moz Au Resource provides a critical mass on which to now model baseline economic analyses, while pursuing neighbouring high-grade targets like Tunkillia’s Area 191 and Tarcoola,” Barton chief Alex Scanlon said.
“These have significant potential to enhance overall project economics and support Stage 1 development leveraging our existing mill.”
Barton Gold (ASX:BGD) shares closed Friday at 25cps.