Tunkillia Upgrade Drilling – 39,000m Phase 2 Complete Targeting JORC Resource Classification Upgrades; PFS Underway
Rhea-AI Summary
Barton Gold (OTC:BGDFF) reports completion of its 'Phase 2' reverse circulation and diamond drilling campaign at the Tunkillia Gold Project in South Australia, with 38,760m drilled across 311 holes over five months. Combined with Phase 1, total drilling for the Tunkillia upgrade program reaches 57,653m in 520 holes.
According to Barton Gold, the program targets upgrading mineralisation within optimised open pits from JORC Inferred to Indicated category, with the highest‑value S1 Starter Pit material aimed for Measured classification. The S1 pit is modelled to yield 206koz gold and 491koz silver at a cash cost of A$997/oz, generating over A$800m operating cash and repaying project development more than twice in its first year. A Pre‑Feasibility Study for potential large‑scale gold production is underway, with publication targeted for Q1 CY27. Barton highlights that drilling results to date have generally exceeded expectations and anticipates significant assay and resource updates in coming months.
Positive
- Phase 2 drilling complete 38,760m across 311 RC and DD holes in five months
- Total upgrade drilling 57,653m across 520 holes at Tunkillia Phase 1 and Phase 2
- S1 Starter Pit model 206koz Au and 491koz Ag at A$997/oz cash cost
- Modelled S1 economics over A$800m operating cash and >2x development payback in year one
- PFS underway for Tunkillia large-scale gold production targeting Q1 CY27 publication
Negative
- None.
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HIGHLIGHTS
'Phase 2' reverse circulation (RC) and diamond drilling (DD) Resource upgrade drilling complete, totalling 38,760m RC and DD drilling and 311 holes during intensive 5 month, 4 drilling rig campaign
Pre-Feasibility Study (PFS) underway for large-scale gold production, targeting Q1 CY27 publication
ADELAIDE, AU / ACCESS Newswire / August 5, 2026 / Barton Gold Holdings Limited (ASX:BGD)(OTCID:BGDFF)(FRA:BGD3) (Barton or Company) is pleased to announce that 'Phase 2' Resource upgrade drilling at its South Australian Tunkillia Gold Project (Tunkillia) is complete.
A total of 57,653m has been drilled across 520 RC and DD holes during 'Phase 1' and 'Phase 2'; the objective is to upgrade mineralisation contained within the optimised open pits from Barton's May 2025 Tunkillia OSS to JORC 'Indicated' category, with the highest value of the 'S1' pit materials upgraded to 'Measured' category.
Tunkillia's S1 'Starter Pit' is modelled to yield 206koz Au and 491koz Ag at a cash cost of only A
Full details can be accessed in the complete announcement on the ASX website or directly by clicking here.
Commenting on Tunkillia's Phase 2 upgrade drilling, Barton Managing Director Alex Scanlon said:
"Firstly, I would like to thank our incredible Barton team for their massive efforts. Our drilling programs of the past 5 months have included 4 rigs across 3 different project sites, which all then converged on Tunkillia's 'Phase 2' drillout.
"Results to-date have generally exceeded expectations, with positive surprises in some zones offering material upside potential. We look forward to sharing a significant number of assays, and Resources upgrades, in the coming months."
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, 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.
SOURCE: Barton Gold Holdings Limited
View the original press release on ACCESS Newswire