Tunkillia Scoping Study Outlines Competitive Large-Scale Gold Operation
HIGHLIGHTS
Live webinar with Q&A hosted by Sharewise on Monday, 12 August 2024
Starts at 07:30 London / 08:30 Zurich / 14:30 Perth / 16:00 Adelaide / 16:30 Sydney
ADELAIDE, AUSTRALIA / ACCESSWIRE / August 6, 2024 / Barton Gold Holdings Limited (ASX:BGD)(FRA:BGD3)(OTCQB:BGDFF) (Barton or Company) is pleased to announce a live webinar hosted by Sharewise. Barton MD Alex Scanlon will discuss the results of a preliminary Scoping Study at the Tunkillia Gold Project (Tunkillia) and other ongoing corporate activities.
This study has outlined a prospective 5Mtpa bulk open pit mining and processing project, with:1
aveg annual production of ~130koz Au at a competitive A$1,917 / oz All-in Sustaining Cost (AISC);
a higher-grade ‘Starter' pit producing ~181,000 oz payable gold and 420,000 oz payable silver during the first 18 months of mining, with average operating cashflow of ~A$2,265 / oz gold; and
an NPV7.5% of ~A$512m, a 40% IRR and a 1.9 year payback period (all unlevered, and pre-tax).
Webinar details
The webinar will be hosted by Sharewise with live Q&A following a presentation, starting at 16.30 Sydney on 12 August 2024 (07:30 London, 08:30 Zurich, 14:30 Perth, and 16:00 Adelaide). Register free here.
Commenting on the Tunkillia Project, Barton MD Alexander Scanlon said:
"We are excited to outline a project that, were it in operation today, would rank favourably by AISC among Australian gold producers. We plan to continue systematically building up Tunkillia's potential over the next 12 months, targeting an optimised Scoping Study, while pursuing other higher-grade mineralisation in the neighbouring Tarcoola Goldfield.
"With over A$10m cash we are very well positioned to continue advancing our strategy and we look forward to discussing next steps with investors next week."
Authorised by the Managing Director of Barton Gold Holdings Limited.
For further information, please contact:
Alexander Scanlon Managing Director [email protected] +61 425 226 649
Barton Gold is an ASX, OTCQB and Frankfurt Stock Exchange listed Australian gold developer targeting future gold production of 150,000oz annually, with ~1.6Moz Au JORC Mineral Resources (52.3Mt @ 0.94 g/t Au), multiple advanced exploration projects and brownfield mines, and 100% ownership of the only regional gold mill in the renowned central Gawler Craton of South Australia.*
Tarcoola Gold Project
Existing brownfield open pit mine within trucking distance of Barton's processing plant
Under-explored asset with untapped scale potential
Tunkillia Gold Project
1.5Moz Au Mineral Resources (51.3Mt @ 0.91 g/t Au)*
Scoping Study for initial 6 year, ~130kozpa Au mine
Infrastructure
650ktpa CIP process plant, mine village, and airstrip
Tarcoola ~40 person lodging to support mine operations
Tunkillia camp to support dedicated project team
Competent Persons Statement & Previously Reported Information
The information in this announcement that relates to the historic Exploration Results and Mineral Resources as listed in the table below is based on, and fairly represents, information and supporting documentation prepared by the Competent Person whose name appears in the same row, who is an employee of or independent consultant to the Company and is a Member or Fellow of the Australasian Institute of Mining and Metallurgy (AusIMM), Australian Institute of Geoscientists (AIG) or a Recognised Professional Organisation (RPO). Each person named in the table below has sufficient experience which is relevant to the style of mineralisation and types of deposits under consideration and to the activity which he has undertaken to quality as a Competent Person as defined in the JORC Code 2012 (JORC).
Activity
Competent Person
Membership
Status
Tarcoola Mineral Resource (Stockpiles)
Dr Andrew Fowler (Consultant)
AusIMM
Member
Tarcoola Mineral Resource (Perseverance Mine)
Mr Ian Taylor (Consultant)
AusIMM
Fellow
Tarcoola Exploration Results (until 15 Nov 2021)
Mr Colin Skidmore (Consultant)
AIG
Member
Tarcoola Exploration Results (after 15 Nov 2021)
Mr Marc Twining (Employee)
AusIMM
Member
Tunkillia Exploration Results (until 15 Nov 2021)
Mr Colin Skidmore (Consultant)
AIG
Member
Tunkillia Exploration Results (after 15 Nov 2021)
Mr Marc Twining (Employee)
AusIMM
Member
Tunkillia Mineral Resource
Mr Ian Taylor (Consultant)
AusIMM
Fellow
Challenger Mineral Resource
Mr Dale Sims (Consultant)
AusIMM / AIG
Fellow / Member
The information relating to historic Exploration Results and Mineral Resources in this announcement is extracted from the Company's Prospectus dated 14 May 2021 or as otherwise noted in this announcement, available from the Company's website at www.bartongold.com.au or on the ASX website www.asx.com.au. The Company confirms that it is not aware of any new information or data that materially affects the Exploration Results and Mineral Resource information included in previous announcements and, in the case of estimates of Mineral Resources, that all material assumptions and technical parameters underpinning the estimates, and any production targets and forecast financial information derived from the production targets continue to apply and have not materially changed. The Company confirms that the form and context in which the applicable Competent Persons' findings are presented have not been materially modified from the previous announcements.
Cautionary Statement Regarding Forward-Looking Information
This document may contain forward-looking statements. Forward-looking statements are often, but not always, identified by the use of words such as "seek", "anticipate", "believe", "plan", "expect", "target" and "intend" and statements than an event or result "may", "will", "should", "would", "could", or "might" occur or be achieved and other similar expressions. Forward-looking information is subject to business, legal and economic risks and uncertainties and other factors that could cause actual results to differ materially from those contained in forward-looking statements. Such factors include, among other things, risks relating to property interests, the global economic climate, commodity prices, sovereign and legal risks, and environmental risks. Forward-looking statements are based upon estimates and opinions at the date the statements are made. Barton undertakes no obligation to update these forward-looking statements for events or circumstances that occur subsequent to such dates or to update or keep current any of the information contained herein. Any estimates or projections as to events that may occur in the future (including projections of revenue, expense, net income and performance) are based upon the best judgment of Barton from information available as of the date of this document. There is no guarantee that any of these estimates or projections will be achieved. Actual results will vary from the projections and such variations may be material. Nothing contained herein is, or shall be relied upon as, a promise or representation as to the past or future. Any reliance placed by the reader on this document, or on any forward-looking statement contained in or referred to in this document will be solely at the readers own risk, and readers are cautioned not to place undue reliance on forward-looking statements due to the inherent uncertainty thereof.
1Refer to ASX announcement dated 16 July 2024.
*Refer to Barton Prospectus dated 14 May 2021 and ASX announcements dated 4 March and 16 July 2024. Total Barton JORC (2012) Mineral Resources include 824koz Au (26.8Mt @ 0.96 g/t Au) in Indicated and 750koz Au (25.4Mt @ 0.92 g/t Au) in Inferred categories.
