Barton Gold Holdings Limited (ASX: BGD) has obtained new high grade assays for the central 223 Deposit at its South Australian Tunkillia Gold Project.
The 223 Deposit hosts a JORC (2012) Mineral Resource of 965koz Au (26.1Mt @ 1.15 g/t Au) on ~2.5km of strike (~68% classified as Indicated Resources).
Managing Director, Alexander Scanlon, said assays from the final four drill holes (total 742m) of the Tunkillia Phase 1 programme confirm recent modelling suggesting a potential higher grade zone of mineralisation central to the 223 Deposit.
Barton has also recently announced the establishment of two new shallow gold zones totalling ~1.5km of new gold mineralised strike across the 223 North and Area 191 prospects, extending the total mineralised strike at Tunkillia by ~60% to a total ~4km. 2 All gold zones at Tunkillia remain open to extension(s) along strike and to depth.
“These results again reinforce the success of Barton’s first drilling program at the Tunkillia Gold Project,” Mr Scanlon said.
“In the four months since IPO, we have validated our predictions for three key targets areas and established two new gold zones with ~1.5km of new shallow, high grade mineralisation.
“With ~4km of total mineralised strike now defined in a relatively small area, Tunkillia’s project footprint is filling in nicely.
“A number of local priority targets are still to be tested, and with all gold zones open at depth and along strike we are on a clear path to build on our already large 965koz Au Mineral Resource Estimate.
“The 223 Deposit sits on the original ~2.5km of Tunkillia strike, so the confirmation that it could be anchored by a higher grade starter pit only increases our view of the broader project’s true long-term potential.
“This has long been overlooked, and with over $12 million cash we do not intend to slow down exploration. “We will also follow up at Tunkillia’s sister project, Tarcoola, where we have confirmed high grade open pit extensions and are narrowing down our highest priority drilling targets for significant discovery potential.”
Phase 1 drilling has confirmed the continuity of high grade mineralisation central to the 223 Deposit, with all 4 drill holes intersecting one or more gold intervals grading more than 30 gram x metres Au.
Shallow ~250m Long High Grade Gold Zone The high grade Area 223 gold zone presently spans some ~250m N-S strike central to the 223 Deposit.
Tunkillia Phase 1 drilling has infilled gaps in historical Resource drilling and further defined the contours of this zone which starts ~40m below surface and trends to ~175m depth toward its southern end. The northern end of this zone has not been drilled deeper than ~75m, and the high grade zone remains open to extension in all directions.
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