Barton Gold : Phase 3 Drilling starts at Tarcoola Gold Project

ASX Announcement

28 April 2022

Phase 3 Drilling Starts at Tarcoola Gold Project

HIGHLIGHTS

• • ~4,700 metre RC drilling commences at Tarcoola Gold Project

• • Targets include Perseverance West gold zone and major regional target Ealbara

Barton Gold Holdings Limited (ASX: BGD)(Barton or the Company) is pleased to announce that Phase 3 drilling has commenced at the Tarcoola Gold Project. Prior Phase 1 and Phase 2 programs during 2020 and 2021 identified ~200m depth extensions of mineralisation and the new ~350m long shallow high-grade Perseverance West gold zone extending from the SW end of the Perseverance open pit mine.1

Phase 3 drilling is expected to comprise approximately 24 drill holes for a total ~4,700 metres of reverse circulation drilling, seeking to further extend the Perseverance West gold zone to establish new, easily accessible Mineral Resources, and to test the priority School and Ealbara regional prospects. Ealbara lies on a major inflection zone of the Lake Labyrinth Shear Zone (LLSZ). Recent drilling by Indiana Resources (ASX:IDA) has identified significant gold mineralisation in the LLSZ at the Minos and Ariadne prospects.2

ASX: IDA

Minos & Ariadne prospect areas

Figure 1 - Tarcoola Phase 3 Drilling Locations

• 1 Refer to Barton Prospectus dated 14 May 2021 and ASX announcements dated 20 / 27 October 2021.

• 2 Refer to Indiana Resources ASX announcements dated 13 Jul and 21 Dec 2021, and 11 Jan and 23 Feb and 15 Mar 2022.

Barton Gold Holdings Limited	Registered Office
ACN: 633 442 618	Suite 5	Mark Connelly	Non Executive Chairman
ASX: BGD	62 Ord Street	Alexander Scanlon	Managing Director & CEO
West Perth, WA, 6005 Australia	Richard Crookes	Non Executive Director
Christian Paech	Non Executive Director
T [phone]	Neil Rose	Non Executive Director
www.bartongold.com.au	[e-mail]	Graham Arvidson	Non Executive Director

Company Directors

Perseverance West

Tarcoola Phases 1 and 2 drilling, completed during 2020 and 2021, identified a new ~350m long, shallow and high grade gold zone immediately adjacent to the SW end of the Perseverance open pit mine.3

The Perseverance West gold zone is offset and parallel to the Deliverance Target, extending to ~100m depth at the SW open pit wall, and has been confirmed to a depth of ~125m from surface at the western extent of its ~350m strike, and remains open to extension along strike and to depth.4

Cross Section (Figure 3 below)

Figure 2 - Perseverance Mine Long Section with 2021 Mineral Profile Extensions4

Assay results from prior drilling at the Perseverance West gold zone and Deliverance Target include:4

Perseverance West

•

4m @ 6.85 g/t Au from 28m

•

7m @ 9.72 g/t Au from 42m

•

5m @ 20.6 g/t Au from 59m

•

6m @ 8.76 g/t Au from 96m

•

4m @ 11.4 g/t Au from 111m

•

5m @ 48.9 g/t Au from 115m

Deliverance Target

•

5m @ 20.6 g/t Au from 59m

•

2m @ 56.7 g/t Au from 92m

•

4m @ 11.4 g/t Au from 107m

•

4m @ 14.8 g/t Au from 138m

•

6m @ 43.6 g/t Au from 197m

•

3m @ 33.7 g/t Au from 220m

Figure 3 - Perseverance South Cross Section with Key Intercepts4

Most intersections around the pit are not yet included in Resource estimates. Barton is targeting ~2,200 metres of drilling to support the definition of an initial, easily accessible Mineral Resource for this area.

• 3 Refer to Barton Prospectus dated 14 May 2021 and ASX announcement dated 27 October 2021.

• 4 Refer to Barton ASX announcements dated 20 / 27 October 2021.

Ealbara Prospect (LLSZ)

Ealbara is located in the northern part of the Tarcoola project area on the Lake Labyrinth Shear Zone (LLSZ) and will be a priority target in Barton's upcoming regional Tarcoola drilling program. The LLSZ is a major fault zone known to host significant gold mineralisation at Indiana Resources Limited's nearby Minos and Ariadne prospects, where drilling has intersected broad, high-grade gold mineralisation.5

Ealbara is located within an interpreted major inflection of this regional structure, coincident with an historically defined, discrete gold-in-calcrete anomaly (Figure 4 below).

Image processing and 3D inversion modelling (Figure 4 inset) of gravity data acquired over the Ealbara prospect during September 2021 supports a strong correlation of density bodies within the interpreted position of the LLSZ. 6 These results confirm multiple prospective structural targets at Ealbara.

Calcrete contours

(Au)

3 ppb

5 ppb

10 ppb

>16ppb

Figure 4: LLSZ Ealbara Prospect Showing Processed magnetic data, Interpreted Faults Positions

(black linework), Gold-in-Calcrete Contours and 3D gravity inversion modelling (insert)7

The Ealbara prospect has not been drilled historically despite its scale and prospective amenable setting to host gold mineralisation. Barton is targeting ~2,200 metres of initial drilling to test the thickness of the local Gawler Range Volcanics (GRV), validate the structural predictions hypothesised by Barton's new geophysical modelling, and test for anomalous gold mineralisation across ~1km of LLSZ strike at Ealbara.

• 5 Refer to Indiana Resources ASX announcements dated 13 Jul and 21 Dec 2021, and 11 Jan and 23 Feb and 15 Mar 2022.

• 6 Refer to Barton ASX announcements dated 14 / 27 September 2021 and 10 March 2022.

• 7 Refer to Barton ASX announcement dated 10 March 2022.

School Prospect

Prospective structures observable in the new gravity data correspond with structures interpreted from prior (2020) detailed aeromagnetic surveys and provide confidence in the targeting methodology.8 A strong density anomaly that cross-cuts the geological strike has also been identified immediately to the northwest of the School prospect. The edge of the feature corresponds with a major north-south trending break or contact in the magnetic data, a setting that is similar to other local mineralised structures.

Figure 5 - School Prospect Gravity Anomaly (Circled in Red)8

Figure 6 - ML6455 'Target Channel' with 2020 Magnetics (Yellow dots = historical gold occurrences)9

• 8 Refer to Barton Prospectus dated 14 May 2021 and ASX announcement dated 10 March 2022.

• 9 Refer to Barton Prospectus dated 14 May 2021.

Commenting on the start of Tarcoola Phase 3 drilling, Barton MD Alexander Scanlon, said:

Alexander Scanlon	Shannon Coates
Managing Director	Company Secretary
[e-mail]	[e-mail]
[phone]	[phone]

"Last year's Phase 2 drilling successfully identified a new and potentially high-value opportunity on our open pit at Perseverance, and our numerous geophysical studies have confirmed a long list of exciting regional targets.

"This year our focus at Tarcoola will be twofold: (1) Establishing an initial Mineral Resource accessible via our existing open pit, and (2) new regional discoveries across an historically rich mineral domain.

"Barton plans to complete more than 20,000 metres drilling in the coming 6 months. We are excited to test several newly validated targets, with a focus on significant growth of Tarcoola's mineralised footprint."

Authorised by the Board of Directors of Barton Gold Holdings Limited.

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