Acquisition of Wudinna Gold Project - Binding Terms to Acquire 279koz Au South Australian Project
Barton Gold Holdings (OTCQB:BGDFF) has announced binding terms to acquire the Wudinna Gold Project from Cobra Resources PLC. The project, located in South Australia approximately 200km southeast of Barton's Tunkillia Gold Project and 200km west of Whyalla, encompasses multiple deposits including Barns, White Tank, Clarke, and Baggy Green.
The Wudinna Gold Project contains a JORC (2012) Mineral Resources Estimate of 279,000 ounces of gold (5.81Mt @ 1.5 g/t Au). Upon completion of the transaction and including Barton's recently updated Challenger JORC estimate, the company's total South Australian gold mineral resources would increase to 2.14 million ounces (78.9Mt @ 0.85 g/t Au).
The transaction completion is subject to Cobra shareholders' approval at a general meeting expected in July 2025. The acquisition was facilitated by South Australia's new regulatory framework allowing the sub-division of mineral tenements.
Barton Gold Holdings (OTCQB:BGDFF) ha annunciato i termini vincolanti per acquisire il Progetto Oro Wudinna da Cobra Resources PLC. Il progetto, situato nel Sud Australia a circa 200 km a sud-est del Progetto Oro Tunkillia di Barton e a 200 km a ovest di Whyalla, comprende diversi depositi tra cui Barns, White Tank, Clarke e Baggy Green.
Il Progetto Oro Wudinna contiene una stima delle risorse minerarie JORC (2012) di 279.000 once d'oro (5,81 Mt a 1,5 g/t Au). Al completamento della transazione e includendo la recente stima JORC aggiornata del progetto Challenger di Barton, le risorse minerarie totali d'oro dell'azienda nel Sud Australia aumenterebbero a 2,14 milioni di once (78,9 Mt a 0,85 g/t Au).
Il completamento della transazione è soggetto all'approvazione degli azionisti di Cobra in un'assemblea generale prevista per luglio 2025. L'acquisizione è stata resa possibile dal nuovo quadro normativo del Sud Australia che consente la suddivisione dei titoli minerari.
Barton Gold Holdings (OTCQB:BGDFF) ha anunciado términos vinculantes para adquirir el Proyecto de Oro Wudinna de Cobra Resources PLC. El proyecto, ubicado en Australia del Sur, aproximadamente a 200 km al sureste del Proyecto de Oro Tunkillia de Barton y a 200 km al oeste de Whyalla, abarca múltiples depósitos, incluyendo Barns, White Tank, Clarke y Baggy Green.
El Proyecto de Oro Wudinna contiene una estimación de recursos minerales JORC (2012) de 279,000 onzas de oro (5.81 Mt a 1.5 g/t Au). Al completarse la transacción e incluyendo la estimación JORC recientemente actualizada de Challenger de Barton, los recursos minerales totales de oro de la compañía en Australia del Sur aumentarían a 2.14 millones de onzas (78.9 Mt a 0.85 g/t Au).
La finalización de la transacción está sujeta a la aprobación de los accionistas de Cobra en una junta general prevista para julio de 2025. La adquisición fue facilitada por el nuevo marco regulatorio de Australia del Sur que permite la subdivisión de concesiones mineras.
Barton Gold Holdings (OTCQB:BGDFF)는 Cobra Resources PLC로부터 Wudinna 금 프로젝트를 인수하기 위한 구속력 있는 조건을 발표했습니다. 이 프로젝트는 남호주에 위치해 있으며 Barton의 Tunkillia 금 프로젝트에서 남동쪽으로 약 200km, Whyalla에서 서쪽으로 200km 떨어진 곳에 여러 광상(Barns, White Tank, Clarke, Baggy Green)을 포함하고 있습니다.
Wudinna 금 프로젝트는 JORC (2012) 기준 279,000 온스의 금 자원 추정치(5.81Mt @ 1.5 g/t Au)를 보유하고 있습니다. 거래 완료 시 Barton의 최근 업데이트된 Challenger JORC 추정치를 포함하여 회사의 남호주 금 광물 자원 총량은 214만 온스(78.9Mt @ 0.85 g/t Au)로 증가할 것입니다.
거래 완료는 2025년 7월 예정된 주주총회에서 Cobra 주주들의 승인을 조건으로 합니다. 이번 인수는 남호주의 새로운 광물권 분할 규제 체계 덕분에 가능했습니다.
Barton Gold Holdings (OTCQB:BGDFF) a annoncé des conditions contraignantes pour acquérir le projet aurifère Wudinna auprès de Cobra Resources PLC. Le projet, situé en Australie-Méridionale à environ 200 km au sud-est du projet aurifère Tunkillia de Barton et à 200 km à l'ouest de Whyalla, comprend plusieurs gisements dont Barns, White Tank, Clarke et Baggy Green.
Le projet aurifère Wudinna contient une estimation des ressources minérales JORC (2012) de 279 000 onces d'or (5,81 Mt à 1,5 g/t Au). Une fois la transaction finalisée et en incluant la récente estimation JORC mise à jour du projet Challenger de Barton, les ressources totales en or de la société en Australie-Méridionale s'élèveraient à 2,14 millions d'onces (78,9 Mt à 0,85 g/t Au).
La finalisation de la transaction est soumise à l'approbation des actionnaires de Cobra lors d'une assemblée générale prévue en juillet 2025. L'acquisition a été rendue possible grâce au nouveau cadre réglementaire de l'Australie-Méridionale autorisant la subdivision des concessions minières.
Barton Gold Holdings (OTCQB:BGDFF) hat verbindliche Bedingungen zur Übernahme des Wudinna Goldprojekts von Cobra Resources PLC bekannt gegeben. Das Projekt liegt in Südaustralien, etwa 200 km südöstlich von Bartons Tunkillia Goldprojekt und 200 km westlich von Whyalla, und umfasst mehrere Lagerstätten, darunter Barns, White Tank, Clarke und Baggy Green.
Das Wudinna Goldprojekt enthält eine JORC (2012) Mineralressourcenschätzung von 279.000 Unzen Gold (5,81 Mt @ 1,5 g/t Au). Nach Abschluss der Transaktion und unter Einbeziehung der kürzlich aktualisierten Challenger JORC-Schätzung von Barton würden sich die gesamten Goldmineralressourcen des Unternehmens in Südaustralien auf 2,14 Millionen Unzen (78,9 Mt @ 0,85 g/t Au) erhöhen.
Der Abschluss der Transaktion steht unter dem Vorbehalt der Zustimmung der Cobra-Aktionäre auf einer Hauptversammlung, die für Juli 2025 erwartet wird. Die Übernahme wurde durch den neuen regulatorischen Rahmen Südaustraliens ermöglicht, der die Unterteilung von Bergbaulizenzen erlaubt.
- Acquisition adds significant 279,000 ounces of gold to Barton's resource portfolio
- Total South Australian gold mineral resources will increase to 2.14 million ounces post-acquisition
- Project offers low-cost optionality for long-term regional development
- Strategic location near existing Barton projects enhances regional consolidation
- Further resource growth potential with pending Challenger underground estimate update
- Transaction completion depends on Cobra shareholders' approval
- Relatively low grade resource at 1.5 g/t Au average
- Majority of resources (93%) are in Inferred category, requiring additional drilling for confidence upgrade
Barton Gold Holdings Limited (ASX:BGD)(FRA:BGD3)(OTCQB:BGDFF) (Barton or Company) is pleased to announce the acquisition of the Wudinna Gold Project (Wudinna) from Cobra Resources PLC (Cobra) (Transaction). Wudinna is located ~200km southeast of Barton's South Australian Tunkillia Gold Project (Tunkillia) and 200km west of Whyalla, South Australia in the north-central area of the Eyre Peninsula.
The Wudinna Gold Project is comprised of the Barns, White Tank, Clarke and Baggy Green Deposits hosting a combined JORC (2012) Mineral Resources Estimate (MRE) of 279,000oz Au (5.81Mt @ 1.5 g/t Au).
Deposit | Classification | Tonnes (Mt) | Grade (g/t Au) | Gold Ounces |
Barnes | Indicated | 0.44 | 1.3 | 18,000 |
Inferred | 2.19 | 1.6 | 116,000 | |
White Tank | Inferred | 0.33 | 1.5 | 16,000 |
Baggy Green | Inferred | 2.12 | 1.4 | 96,000 |
Clarke | Inferred | 0.73 | 1.4 | 33,000 |
Total | 5.81 | 1.5 | 279,000 |
Table 1 - Wudinna Gold Project September 2023 JORC (2012) Mineral Resources Estimate [1]
Subject to Completion of the Transaction, and further to Barton's other announcement of today's date updating the Challenger JORC (2012) MRE, Barton's total South Australian JORC Gold Mineral Resources endowment would then be 2.14Moz (78.9Mt @ 0.85 g/t Au), which is anticipated to grow further with the replacement of the estimate for Mineral Resources in the Challenger underground below the 900mRL level, which is currently underway. [2]
Completion of the Transaction is subject only to the approval of Cobra shareholders at a general meeting anticipated to be held during July 2025 (EGM).
Full details are contained in the complete announcement, which can be accessed on the ASX website, the investor section of Barton's website, or directly by clicking here .
Commenting on the acquisition of Wudinna, Barton Managing Director Alexander Scanlon said:
"We are pleased to announce binding terms to acquire the Wudinna Gold Project, which upon Completion of the transaction will add a further 279,000oz gold to our South Australian development portfolio. The assets offer significant low-cost optionality to Barton's long-term regional development objectives, and we will be pleased to welcome Cobra and its shareholders to Barton's register as we steadily unlock value across our entire platform.
"We applaud South Australia for a new regulatory framework permitting the sub-division of mineral tenements. This enabled both a transaction which otherwise would not have materialised, and Wudinna's advancement."
Authorised by the Managing Director of Barton Gold Holdings Limited.
For further information, please contact:
Alexander Scanlon | Jade Cook |
About Barton Gold
Barton Gold is an ASX, OTCQB and Frankfurt Stock Exchange listed Australian gold developer targeting future gold production of 150,000ozpa with 1.9Moz Au & 3.1Moz Ag JORC Mineral Resources (73.0Mt @ 0.79 g/t Au), brownfield mines, and
Tarcoola Gold Project
Tunkillia Gold Project
Challenger Gold Project
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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 Ian Taylor (Consultant) | AusIMM | Fellow |
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.
[1] Refer to Cobra announcement dated 7 September 2023 (https://investors.cobraplc.com/announcements/5350232)
[2] Refer to ASX announcement dated 30 June 2025
* Refer to Barton Prospectus dated 14 May 2021 and ASX announcement dated 30 June 2025. Total Barton JORC (2012) Mineral Resources include 1,031koz Au (39.3Mt @ 0.82 g/t Au) in Indicated category and 834koz Au (33.8Mt @ 0.77 g/t Au) in Inferred category, and 3,070koz Ag (34.5Mt @ 2.80 g/t Ag) in Inferred category as a subset of Tunkillia gold JORC (2012) Mineral Resources.
SOURCE: Barton Gold Holdings Limited
View the original press release on ACCESS Newswire
FAQ
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What are the main deposits included in BGDFF's Wudinna acquisition?
