Join our daily newsletter At The Bell to receive exclusive market insights
- Barton Gold (BGD) has extended mineralisation at the Perseverance mine within the Tarcoola project in South Australia
- Drilling has tested the mineralisation around the northern pit floor as well as potential depth extensions to high-grade mineralisation at the Perseverance Pit North (PPN) target
- Significantly, confirming the deeper mineralisation at PPN represents Barton’s second shallow, high-grade extensional gold discovery at the Perseverance Mine
- Barton Gold ended the day trading steady at 17 cents
Barton Gold (BGD) has received the first assay results from phase two drilling at the Tarcoola gold project in South Australia’s Gawler Craton region.
The company drilled 13 holes, for 1858 metres, to test for structure and mineralisation around the shallow northern pit floor.
Of these, seven holes tested the Perseverance Pit North (PPN) target for potential depth extensions to existing shallow, high-grade mineralisation.
Positively, six of the seven PPN drill holes intersected mineralisation above 2.5 grams of gold per tonne (g/t) including in the NW pit wall.
Results include one metre at 2.51g/t gold from 26 metres, and one metre at 2g/t gold from 111 metres, nine metres at 1.7g/t gold from 76 metres including one metre at 9.7g/t gold from 81 metres, and five metres at 4.74g/t gold from 106 metres.
This first lot of results confirmed the presence of high-grade gold in target areas around the north end of the Perseverance mine and also extended the mineralisation to about 40 metres below the northern pit wall and 90 metres below the pit floor.
Significantly, confirming the deeper mineralisation at PPN represents Barton’s
second shallow, high-grade extensional gold discovery at the Perseverance Mine.
Managing Director Alexander Scanlon said he was pleased with the results.
“These results continue to demonstrate the untapped potential of the Tarcoola mineral system. Given the degree of historical under-investment, we aren’t surprised to confirm shallow high-grade extension opportunities at both ends of the open pit,” he said.
“At only a 30-75-metre depth, it may be that the mine has quite literally just scratched the surface of its strike and depth potential.”
Mineralisation at the Perseverance mine remains open in all directions and the company considers it a high priority for conversion to a JORC-compliant mineral resource.
The next batch of assays are expected in the upcoming weeks.
Barton Gold ended Wednesday trading steady at 17 cents.
