Barton Gold continues to reap the riches of its strategic decision to acquire the historic Central Gawler Mill in South Australia.
The company has uncovered a vast amount of gold estimated to be worth around $1.1 million dollars from a recent cleanout of the mill.
Initial assays obtained from the overhaul have identified “bonanza” grades of approximately 3,000 grams per tonne of gold.
Mill’s strategic advantage
Barton Gold managing director, Alex Scanlon, said the company continues to confirm its strategic position as the 100% owner of the only regional gold mill in the gold rich central Gawler Craton of South Australia.
“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.”
The overhaul of the mill was identified in a preliminary review which was concluded by Barton in December 2022.
The review activities included dismantling of the gold room and gravity circuit, with materials cleaned and placed in secure storage, while the balls mills, floors and sumps were also stripped.
The activities led to the recovery of estimated 10 plus tonnes of gold bearing materials, with a contained metal value of approximately 375 ounces of gold.
South Australia focus
Barton Gold has retained its South Australian focus since its June 2021 IPO and successful ASX listing.
The company retains the most dominant position in the rich Gawler area of South Australia, including its ownership of the Tunkillia gold project and the Tarcoola and Challenger gold mines.
Barton Gold currently has a total attributable 1.3 million ounces of gold JORC Mineral Resources endowment, which it is moving quickly to build on with its portfolio of advanced exploration projects and brownfield mines,
It has also revealed plans to build at second regional mill at Tunkillia to open up opportunities to support large scale regional production.
Tunkillia continues to grow
In late April, Barton reported that recent drilling in the Tunkillia gold project’s 223 deposit had led to an approximately 189 ounces of gold increase in the mineral resource estimation.
The total mineral resources at Tunkillia are now estimated at 1.15 million ounces of gold.
Mr Scanlon highlighted that the new Resource has been added to that total figure at a cost of only $12 per additional ounce.
The company is planning to follow up the 223 Deposit results with further work at Tunkillia and other key regional targets, later this year.
The Tunkillia project was acquired by Barton in December 2019 with drill testing undertaken at the 223 deposit during August 2021 to validate a theorised higher- grade central zone.
