Tunkillia 'Phase 2' Resource Upgrade Drilling Begins
HIGHLIGHTSMay 2025 Optimised Scoping Study (OSS) outlined a compelling Tunkillia development project:[1]Annual production: ~120,000oz gold and ~250,000oz silverTotal LoM operating cash: ~A$2.7 billion (unlevered, pre-tax)Net Present Value (NPV7.5%): ~A$1.4 billion (unlevered, pre-tax)Internal Rate of Return (IRR): ~73.2% (unlevered, pre-tax); andPayback period: ~0.8 years (unlevered, pre-tax)Barton expediting Tunkillia toward Mining Lease (ML) application, with AUD gold and silver prices now over $2,000/oz and $60/oz higher (respectively) than used for OSS revenue estimates118,900m ‘Phase 1' reverse circulation (RC) Resource upgrade drilling infilled high value S1 / S2 pit areas with broad high-grade intersections, supporting rapid payback in early ‘Starter pit'2; ~30,000m ‘Phase 2' RC upgrade drilling now underway targeting balance of optimised open pits;Phase 2 RC drilling a key step to support JORC (2012) Mineral Resource upgrades and target JORC (2012) Ore Reserves, a pre-feasibility study (PFS), and an ML application by end of 2026