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    BGD   AU0000153215

BARTON GOLD HOLDINGS LIMITED

(BGD)
Delayed Australian Stock Exchange  -  05/20 12:46:52 am EDT
0.2300 AUD   +9.52%
05/19Barton Gold Starts Phase 2 Drilling at Tunkillia Gold Project
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Barton Gold Holdings Limited Announces the Discovery of Another New ~650 Meter Long Gold Zone at its South Australian Tunkillia Gold Project

11/07/2021 | 05:14pm EDT

Barton Gold Holdings Limited announced the discovery of another new ~650m long gold zone at its South Australian Tunkillia Gold Project (Tunkillia). Assay results from 8 holes of the Phase 1 drilling program (total 1,128m) confirm a shallow continuous gold zone located ~3km northeast of the 223 Deposit (Area 191). Results from the first 20 holes of the program recently identified the new ~800m 223 North gold zone ~500m northwest of the 223 Deposit. The 223 Deposit hosts a JORC (2012) Mineral Resource of 965koz Au (26.1Mt at 1.15 g/t Au) on ~2.5km of strike (~68% Indicated). The 223 Deposit remains open to strike and depth extensions. The Area 191 and 223 North discoveries extend Tunkillia?s total gold mineralised strike by almost 60%, to ~4km of shallow, continuous gold mineralisation. Multiple Mineralised Horizons: Mineralisation at Area 191 occurs in multiple pronounced zones concentrated around clusters of highgrade intersections, with the local controlling structures and orientation yet to be determined. The Tunkillia Phase 1 drilling program was the first to target this area in ~15 years, and mineralisation in this area remains open for extension to depth and along strike in all directions. ~250-300m Wide Body of Shallow Mineralisation: The Area 191 gold zone presently spans some ~250 - 300m width along its predominantly N/NW strike orientation. Tunkillia Phase 1 drilling has infilled gaps in historical scout drilling and confirmed a continuous body of shallow, flat-lying gold mineralisation located 50-60m below surface. Mineralisation at Area 191 appears similar to the profile seen in the 223 Deposit, with generally lower- to medium-grade broad intersections accompanied by intermittent higher-grade intersections which may indicate locally enriched primary structures with secondary or disseminated mineralisation. ~650m Mineralised Strike on ~ 50?100m Drill Spacing: Historical drilling is less prevalent in Area 191 than in the locality of the 223 Deposit, however the addition of Tunkillia Phase 1 drilling has infilled limited prior data and confirmed continuity of mineralisation along a present strike length of ~650m. Drill hole spacing throughout Area 191 ranges from ~50 ? 100m depending upon location and has been oriented to improve understanding of the shape and distribution of mineralisation at the target. Tunkillia Phase 1 Drilling Background: The 223 Deposit hosts a JORC (2012) Mineral Resource Estimate of 965,000oz Au (26.1Mt at 1.15 g/t Au) across ~2.5km of mineralised strike (~68% Indicated). This deposit sits within a host structure extending a further ~7km to the north, and ~7km to the south on the Yarlbrinda Shear Zone. The majority of drilling in the area from the year 2000 targeted the 223 Deposit, with little investment in regional exploration for the ~20 years prior to Barton?s acquisition of the project. As a consequence, multiple promising satellite targets previously identified by shallow drilling were not followed up. Additional modern geophysical analysis has re-confirmed multiple of these satellite targets to be of significant interest. Barton will continue to systematically test these to establish potential new gold zones and an expanded overall footprint for the Tunkillia Gold Project. Pending Assay Results (Tunkillia Phase 1 Drilling Program): The Company expects the balance (742m) of Tunkillia Phase 1 drilling assay results, testing of key structural targets central to the 223 Deposit, to be released shortly.


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Financials
Sales 2021 - - -
Net income 2021 -7,73 M -5,43 M -5,43 M
Net cash 2021 14,9 M 10,5 M 10,5 M
P/E ratio 2021 -4,85x
Yield 2021 -
Capitalization 40,4 M 28,4 M 28,4 M
EV / Sales 2020 -
EV / Sales 2021 -
Nbr of Employees -
Free-Float 38,4%
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Managers and Directors
Mark Anthony Connelly Non-Executive Chairman
Christian John Paech Independent Non-Executive Director
Graham Tyler Arvidson Independent Non-Executive Director
Kenneth Graham Williams Non-Executive Chairman-Elect
Shannon Louise Coates Secretary
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