Barton Gold begins Phase 2 drilling at Tunkillia project
Barton Gold Holdings Limited (BGD) has commenced Phase 2 resource upgrade drilling at its Tunkillia Gold Project in South Australia, engaging Strike Drilling for a program totaling approximately 30,000 meters.
The Phase 2 reverse circulation drilling follows a Phase 1 program that infilled high-value S1 and S2 pit areas. The company aims to convert all optimized open pit mineralization to JORC (2012) ’Measured’ and ’Indicated’ categories to support financing and development.
According to a May 2025 Optimised Scoping Study, the Tunkillia project is projected to produce approximately 120,000 ounces of gold and 250,000 ounces of silver annually. The study calculated a net present value of A$1.4 billion and an internal rate of return of 73.2%, both unlevered and pre-tax.
Managing Director Alexander Scanlon stated that current Australian dollar gold and silver prices are over A$2,000 per ounce and A$60 per ounce respectively, higher than the prices used in the scoping study revenue estimates.
The Phase 2 drilling represents a step toward JORC (2012) Ore Reserves, a pre-feasibility study, and a Mining Lease application targeted for completion by the end of 2026. The company plans to expedite project finance discussions following submission of the Mining Lease application.
Barton Gold holds 2.2 million ounces of gold and 3.1 million ounces of silver in JORC Mineral Resources across its South Australian projects, including the Tunkillia project which contains 1.6 million ounces of gold and 3.1 million ounces of silver.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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