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- Barton Gold (BGD) receives an exploration licence at the Tarcoola Gold project in South Australia’s Gawler Craton region
- The tenement covers a 435 square kilometre area with BGD mapping out a 14-kilometre corridor of major structures similar to the structure hosting the Perseverance Mine
- Commenting on the grant, Managing Director Alex Scanlon says the acquisition is an important addition to the strategic regional footprint in the Central Gawler Craton
- Shares in Barton Gold end the day 3.57 per cent in the green to close at 14.5 cents
Barton Gold (BGD) has been awarded an exploration licence through its wholly owned subsidiary Tarcoola 2 at the Tarcoola Gold project in South Australia.
The tenement covers a 435 square kilometre area with the company also mapping out a 14-kilometre corridor of major structures similar to the structure hosting the Perseverance Mine.
Commenting on the grant, Managing Director Alex Scanlon said the acquisition is an important addition to the strategic regional footprint in the Central Gawler Craton.
“Our regional prospectivity analysis indicates the potential for this new tenement area to host scale gold mineralisation analogous to that already identified on neighbouring tenements EL6210 and ML6455,” he said.
Tarcoola’s EL6210 also host the mining lease 6455, site of the gold rush producing approximately 77,000 ounces of gold at an average of around 37.5 grams per tonne (g/t).
It also hosts the open pit Perseverance Mine which sent an average of around 3.8 g/t gold ore to the company’s Central Gawler Mill.
The company received its first assay results from phase two drilling at the project in October last year.
The company drilled 13 holes, for 1858 metres, to test for structure and mineralisation around the shallow northern pit floor.
Shares in Barton Gold ended the day 3.57 per cent in the green to close at 14.5 cents.
