First Challenger Assays Return Grades up to 170g/t Au

Rhea-AI Summary

Barton Gold Holdings (ASX:BGD / OTCQB:BGDFF) reported initial assays from 8,065m of recent RC drilling at the Challenger Gold Project, returning high-grade near-surface results up to 170.7 g/t Au in open pit walls and extensions.

A Definitive Feasibility Study is underway targeting a 3–4 year Stage 1 baseline operation using higher-grade historical tailings (TSF1) and limited near-surface material to support a restart of the Central Gawler Mill and regional optionality.

AI-generated analysis. Not financial advice.

Positive

• Assays up to 170.7 g/t Au in near-pit RC drilling
• 8,065m RC resource-upgrade drilling recently completed
• DFS underway targeting a 3–4 year Stage 1 baseline operation using TSF1

Negative

• Further assays for CW, CSSW and Challenger 3 are pending
• Stage 1 constrained to historical tailings and limited near-surface feed

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New zones of high-grade mineralisation identified in open pit walls

HIGHLIGHTS

• 8,065m reverse circulation (RC) Resource upgrade drilling recently completed at Challenger 'Main', 'Challenger West' (CW) open pits, and 'Challenger South-Southwest' (CSSW) and 'Challenger 3' targets^[1]

• Challenger's 'Main' open pit operated during 2002 - 2004; drilling has identified new high-grade mineralisation in the open pit's walls and extensions, where new assays include:^[2]

• Hole ID	Interval	Including:
  CHB0140	9m @ 2.20 g/t Au from 97 metres	1m @ 6.63 g/t Au from 103 metres
  CHB0158	11m @ 5.67 g/t Au from 24 metres 10m @ 17.7 g/t Au from 40 metres	1m @ 50.9 g/t Au from 27 metres 1m @ 170.7 g/t Au from 43 metres
  CHB0159	14m @ 1.01 g/t Au from 19 metres 3m @ 4.72 g/t Au from 40 metres	3m @ 2.55 g/t Au from 22 metres 1m @ 11.8 g/t Au from 40 metres
  CHB0165	3m @ 6.85 g/t Au from 121 metres	1m @ 15.0 g/t Au from 121 metres

• Further assays pending for the CW open pit, and the CSSW and Challenger 3 open pit targets

• Challenger DFS underway targeting a viable, simplified 'baseline' Stage 1 operation to underwrite restart of CGM and maximise Challenger, Tarcoola, Wudinna and Tolmer development optionality

ADELAIDE, AU / ACCESS Newswire / April 19, 2026 / Barton Gold Holdings Limited (ASX:BGD)(OTCQB:BGDFF)(FRA:BGD3) (Barton or Company) is pleased to announce initial assay results from recent drilling at its South Australian Challenger Gold Project (Challenger).

Challenger is the site of the Company's fully permitted Central Gawler Mill (CGM). A Definitive Feasibility Study (DFS) is underway targeting an initial 3 - 4 year Stage 1'baseline' operation utilising only historical higher-grade tailings from tailings storage facility 1 (TSF1) and limited, near-surface materials without disturbing Challenger's historical high-grade underground mine, its mineralisation or its infrastructure access.

Full details can be accessed in the complete announcement on the ASX website or directly by clicking here.

Commenting on the first Challenger assay results, Barton Managing Director Alexander Scanlon said:

"The Challenger open pit operated from 2002 to 2004, at a time of record low gold prices. Our drilling has been targeting 1-2 g/t Au mineralisation on open pit extensions to provide a source of lower-risk feed for Stage 1 operations.

"We were therefore surprised to find much higher-grade mineralisation than expected - up to 170 g/t Au - in previously unmodelled extensions of mineralisation immediately adjacent to the open pit. This mineralisation has not previously been drilled and is not closed off, indicating potential for further extensions and additional near-pit discoveries.

"This kind of on-pit, near-surface mineralisation adjacent to our existing Central Gawler Mill provides ideal low-risk feed to de-risk an operational restart at Challenger. We look forward to sharing further Challenger assays soon."

Authorised by the Managing Director of Barton Gold Holdings Limited.

For further information, please contact:

Alexander Scanlon Managing Director a.scanlon@bartongold.com.au +61 425 226 649

Jade Cook Company Secretary cosec@bartongold.com.au +61 8 9322 1587

[1] Refer to ASX announcements dated 2 February and 26 March 2026

[2] Refer to Prospectus dated 14 May 2021

SOURCE: Barton Gold Holdings Limited

View the original press release on ACCESS Newswire

FAQ

What assays did Barton report from the April 20, 2026 Challenger drilling (BGDFF)?

Initial assays returned high-grade hits up to 170.7 g/t Au, with multiple near-surface intervals reported. According to the company, results came from recent RC drilling at Challenger open pits and adjacent extensions.

How much drilling was completed at Challenger for the April 2026 update (BGDFF)?

Barton completed 8,065m of reverse circulation resource-upgrade drilling at Challenger. According to the company, the program targeted Main, Challenger West, CSSW and Challenger 3 targets.

What is the planned Stage 1 operation in the Barton DFS (BGDFF)?

The DFS targets a 3–4 year Stage 1 'baseline' operation using higher-grade TSF1 tailings and limited near-surface material. According to the company, this is to underwrite a restart of the Central Gawler Mill.

Do the April 2026 assays indicate potential for more near-pit discoveries at Challenger (BGDFF)?

Yes. Barton reported previously unmodelled, not-closed-off extensions with high-grade assays, indicating potential further near-pit extensions. According to the company, these zones were not previously drilled.

Are there remaining assays or drilling results outstanding from Challenger in April 2026 (BGDFF)?

Yes. Further assays remain pending for Challenger West, CSSW and Challenger 3 targets. According to the company, those results will follow the initial assay release.

How might the high-grade assays affect Barton Gold's restart plans for Central Gawler Mill (BGDFF)?

Higher-grade on-pit, near-surface mineralisation could provide low-risk feed for a restart of the mill. According to the company, these results support de-risking an operational restart and Stage 1 feed options.