Infrastructure Sterilisation Drilling Begins at Tunkillia
Rhea-AI Summary
Barton Gold (OTC:BGDFF) has commenced sterilisation drilling at its Tunkillia Gold Project in South Australia to test multiple sites for key infrastructure and avoid locating facilities over potential mineralisation. A Pre‑Feasibility Study (PFS) for large‑scale gold production is underway, targeting publication in Q1 CY27.
The May 2025 Optimised Scoping Study outlined ~120,000oz gold and ~260,000oz silver annual production, ~A$2.7bn total operating cash, ~A$1.4bn NPV (7.5%), 73.2% IRR and ~0.8‑year payback (all unlevered, pre‑tax). S1 and S2 pits are modelled to deliver 365,000oz gold, 923,000oz silver and A$1.7bn operating free cash in the first ~27 months. Barton has completed 57,653m of drilling for JORC Mineral Resource upgrades, with the PFS aiming to convert these to Ore Reserves, subject to technical assessment.
Positive
- Optimised Scoping Study economics: ~A$1.4bn NPV (7.5%), ~73.2% IRR, ~0.8‑year payback, ~A$2.7bn total operating cash (unlevered, pre‑tax).
- Strong early cashflow profile: S1 and S2 pits modelled to generate 365,000oz Au, 923,000oz Ag and ~A$1.7bn operating free cash in ~27 months.
- Significant drilling completed: 57,653m of RC and diamond drilling to upgrade Tunkillia mineralisation to JORC Measured and Indicated categories.
- PFS and development pathway: PFS underway to support a Mining Lease application and financing, targeting publication in Q1 CY27.
- Integrated regional platform: Barton highlights 2.2Moz Au and 3.1Moz Ag JORC Mineral Resources and 100% ownership of the Central Gawler Mill.
Negative
- Tunkillia remains at study stage, with the PFS only targeted for Q1 CY27, so key project approvals and financing are still pending.
- JORC Mineral Resource upgrades and conversion to Proven and Probable Ore Reserves are not yet completed and remain subject to technical assessment.
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Development programs advancing, Resource upgrades pending
HIGHLIGHTS
Pre-feasibility Study (PFS) underway for large-scale gold production, targeting Q1 CY27 publication1
Sterilisation drilling programs begin for potential locations of key project infrastructure
Gold and silver JORC Mineral Resource Estimate (MRE) upgrades pending following recent drilling2
ADELAIDE, AU / ACCESS Newswire / August 19, 2026 / Barton Gold Holdings Limited (ASX:BGD)(OTC PINK:BGDFF)(FRA:BGD3) (Barton or Company) is pleased to announce the start of sterilisation drilling programs at its South Australian Tunkillia Gold Project (Tunkillia).
Drilling has been designed to test multiple potential locations for infrastructure such as waste dumps, tailings storage facilities, and processing plant to ensure these are not sited over potentially valuable mineralisation.
Tunkillia's May 2025 Optimised Scoping Study (OSS) outlined a compelling development project combining scale and rapid capital payback, with a PFS now underway to support a Mining Lease application and financing: 1
| ~120,000oz gold and ~260,000oz silver |
| ~A |
| ~A |
| ~ |
| ~0.8 years (unlevered, pre-tax) |
Notably, within the project the S1 and S2 pits are modelled to produce 365,000oz gold, 923,000oz silver and
Resource upgrades pending
A total of 57,653m reverse circulation (RC) and diamond (DD) drilling has recently been completed to upgrade Tunkillia's modelled open pit mineralisation to JORC 'Measured' and 'Indicated' categories.2 The objective of the PFS is to convert these materials to 'Proven' and 'Probable' Ore Reserves (subject to technical assessment) and confirm high-confidence in its accelerated cashflows profile to underwrite development finance.
Commenting on the start of Tunkillia sterilisation drilling, Barton Managing Director Alex Scanlon said:
"We have recently completed over 57,000m of Resource upgrade drilling at Tunkillia, with positive surprises in some zones offering material upside potential. We look forward to sharing assays and Resource updates in due course.
"In the meantime, we continue advancing our geotechnical, metallurgical and infrastructure planning programs in parallel, which includes sterilisation drilling at various proposed sites for key infrastructure.
"Given the modelled economics of Tunkillia's large-scale gold and silver production profile, we are advancing it toward development as fast as possible. We aim to publish our PFS during Q1 CY27, followed by a Mining Lease application."
Authorised by the Board of Directors of Barton Gold Holdings Limited.
For further information, please contact:
Alexander Scanlon | Jade Cook |
About Barton Gold
Barton Gold is an ASX, OTC and Frankfurt Stock Exchange listed Australian gold developer targeting future gold production of 150,000ozpa with 2.2Moz Au & 3.1Moz Ag JORC Mineral Resources (79.9Mt @ 0.87g/t Au), brownfield mines, and
Challenger Gold Project
Tarcoola Gold Project
Tunkillia Gold Project
Wudinna 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 (above 215mRL) | Mr Ian Taylor (Consultant) | AusIMM | Fellow |
Challenger Mineral Resource (below 90mRL) | Mr Dale Sims | AusIMM / AIG | Fellow / Member |
Wudinna Mineral Resource (Clarke Deposit) | Ms Justine Tracey | AusIMM | Member |
Wudinna Mineral Resource (all other Deposits) | Mrs Christine Standing | AusIMM / AIG | Member / 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, 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. In accordance with ASX Listing Rule 5.19.2, the Company further confirms that the material assumptions underpinning any production targets and the forecast financial information derived therefrom 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.
* Refer to Barton Prospectus dated 14 May 2021 and ASX announcement dated 8 September 2025. Total Barton JORC (2012) Mineral Resources include 1,049koz Au (39.7Mt @ 0.82 g/t Au) in Indicated category and 1,186koz Au (40.2Mt @ 0.92 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.
1 Refer to ASX announcements dated 5 May 2025, and 22 June and 28 July 2026
2 Refer to ASX announcements dated 5 May 2025 and 6 August 2026
SOURCE: Barton Gold Holdings Limited
View the original press release on ACCESS Newswire