The Fort Worth Press - Tunkillia 'Phase 2' Resource Upgrade Drilling Begins

USD -
AED 3.6725
AFN 63.000234
ALL 83.700248
AMD 376.999869
ANG 1.790083
AOA 916.999933
ARS 1398.249816
AUD 1.42574
AWG 1.8
AZN 1.698408
BAM 1.705218
BBD 2.01395
BDT 122.699333
BGN 1.709309
BHD 0.380051
BIF 2968.481625
BMD 1
BND 1.279568
BOB 6.90963
BRL 5.330598
BSD 0.999956
BTN 92.298705
BWP 13.625703
BYN 2.958717
BYR 19600
BZD 2.010986
CAD 1.371005
CDF 2256.999505
CHF 0.789565
CLF 0.023229
CLP 917.210386
CNY 6.896601
CNH 6.89937
COP 3682.200619
CRC 470.465147
CUC 1
CUP 26.5
CVE 96.137582
CZK 21.376797
DJF 178.06356
DKK 6.528805
DOP 61.432495
DZD 133.523693
EGP 52.323245
ERN 15
ETB 156.082044
EUR 0.87378
FJD 2.228695
FKP 0.751777
GBP 0.754405
GEL 2.72991
GGP 0.751777
GHS 10.859235
GIP 0.751777
GMD 73.503014
GNF 8765.857274
GTQ 7.668163
GYD 209.198309
HKD 7.82775
HNL 26.46846
HRK 6.585502
HTG 131.112952
HUF 343.481986
IDR 16960.05
ILS 3.14434
IMP 0.751777
INR 92.58485
IQD 1309.908889
IRR 1321725.000266
ISK 126.302952
JEP 0.751777
JMD 156.894372
JOD 0.708981
JPY 159.480996
KES 129.334321
KGS 87.4497
KHR 4009.765029
KMF 431.00038
KPW 899.999945
KRW 1502.749739
KWD 0.307429
KYD 0.833253
KZT 489.524391
LAK 21426.391735
LBP 89542.177078
LKR 311.199268
LRD 182.980949
LSL 16.79428
LTL 2.95274
LVL 0.60489
LYD 6.3804
MAD 9.41776
MDL 17.443655
MGA 4151.881076
MKD 53.742535
MMK 2099.410407
MNT 3568.977207
MOP 8.06077
MRU 40.006975
MUR 46.50986
MVR 15.450488
MWK 1733.815772
MXN 17.868403
MYR 3.938504
MZN 63.91009
NAD 16.79428
NGN 1385.497647
NIO 36.793234
NOK 9.761895
NPR 147.677754
NZD 1.723705
OMR 0.384499
PAB 0.999869
PEN 3.448276
PGK 4.372466
PHP 59.590073
PKR 279.200663
PLN 3.73667
PYG 6451.022276
QAR 3.634858
RON 4.462601
RSD 102.332273
RUB 80.075839
RWF 1459.174332
SAR 3.752935
SBD 8.051718
SCR 15.267448
SDG 601.000122
SEK 9.44254
SGD 1.28152
SHP 0.750259
SLE 24.549871
SLL 20969.510825
SOS 570.469506
SRD 37.547976
STD 20697.981008
STN 21.361001
SVC 8.749292
SYP 110.52498
SZL 16.788875
THB 32.327996
TJS 9.584202
TMT 3.5
TND 2.957147
TOP 2.40776
TRY 44.195045
TTD 6.781464
TWD 32.194599
TZS 2604.734295
UAH 44.095122
UGX 3759.536161
UYU 40.1674
UZS 12073.760844
VES 442.704625
VND 26294
VUV 118.25327
WST 2.735215
XAF 571.914207
XAG 0.012319
XAU 0.000199
XCD 2.70255
XCG 1.802084
XDR 0.711278
XOF 571.914207
XPF 103.980121
YER 238.54994
ZAR 16.87195
ZMK 9001.198041
ZMW 19.462923
ZWL 321.999592
  • RBGPF

    0.1000

    82.5

    +0.12%

  • CMSD

    -0.1100

    22.99

    -0.48%

  • JRI

    -0.2300

    12.59

    -1.83%

  • RELX

    -0.0400

    34.14

    -0.12%

  • GSK

    -0.8900

    53.39

    -1.67%

  • CMSC

    -0.1500

    22.99

    -0.65%

  • BCC

    0.3800

    70

    +0.54%

  • BCE

    -0.1100

    25.57

    -0.43%

  • NGG

    0.0900

    90.9

    +0.1%

  • RIO

    -2.8700

    87.83

    -3.27%

  • VOD

    0.1000

    14.41

    +0.69%

  • RYCEF

    -1.1300

    16.12

    -7.01%

  • AZN

    -2.6000

    189.9

    -1.37%

  • BTI

    0.0400

    59.93

    +0.07%

  • BP

    0.5100

    42.67

    +1.2%

Tunkillia 'Phase 2' Resource Upgrade Drilling Begins
Tunkillia 'Phase 2' Resource Upgrade Drilling Begins

Tunkillia 'Phase 2' Resource Upgrade Drilling Begins

HIGHLIGHTS

  • May 2025 Optimised Scoping Study (OSS) outlined a compelling Tunkillia development project:[1]

    • Annual production: ~120,000oz gold and ~250,000oz silver

    • Total 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); and

    • Payback 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 estimates1

  • 18,900m ‘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

Text size:

ADELAIDE, AU / ACCESS Newswire / March 15, 2026 / Barton Gold Holdings Limited (ASX:BGD)(OTCQB:BGDFF)(FRA:BGD3) (Barton or Company) is pleased to announce the start of 'Phase 2' JORC (2012) Mineral Resource upgrade drilling at its South Australian Tunkillia Gold Project (Tunkillia). Strike Drilling has been engaged to complete a program totalling ~30,000m.

Tunkillia's Phase 2 RC upgrade drilling follows a successful 'Phase 1' program which infilled the high-value early 'S1' and 'S2' pit areas, modelled to produce ~$1.3 billion operating profit during the first 2.5 years of operation, with broad, high-grade intersections. Barton is targeting conversion of all of Tunkillia's OSS modelled open pit mineralisation to JORC (2012) 'Measured' and 'Indicated' categories to accelerate financing and development.2

Full details can be accessed in the complete announcement on the ASX website or directly by clicking here.

Commenting on Tunkillia's ongoing development drilling programs, Barton MD Alexander Scanlon said:

"The Tunkillia OSS demonstrated the financial and capital leverage available to large-scale bulk processing operations, with the major advantage of a higher-grade 'Starter Pit' that can pay back development costs 2x over in the first year - assuming A$5,000/oz gold and A$50/oz silver prices. At current gold and silver prices, Tunkillia would be modelled to produce over $1 billion operating profit in the first year, and over $2 billion operating profit in the first two years.

"Our recent 'Phase 1' Resource upgrade drilling results further confirmed the mineralisation behind these compelling economics; we are therefore now executing the balance of Tunkillia development drilling programs on an expedited timeline, targeting declared JORC Ore Reserves, a robust PFS, and a Mining Lease application by the end of 2026.

"Following the submission of our Mining Lease application, we will expedite Tunkillia's project finance discussions and work with all key stakeholders including the South Australian Government to bring Tunkillia online as soon as possible. This project can generate substantial economic benefits for Barton and all of our stakeholders, including the State."

1 Refer to ASX announcement dated 5 May 2025

2 Refer to ASX announcements dated 2 / 16 December 2025 and 21 January 2026

Authorised by the Managing Director of Barton Gold Holdings Limited.

For further information, please contact:

Alexander Scanlon
Managing Director
[email protected]
+61 425 226 649

Jade Cook
Company Secretary
[email protected]
+61 8 9322 1587

About Barton Gold
Barton Gold is an ASX, OTCQB 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 100% ownership of the region's only gold mill in the renowned Gawler Craton of South Australia.*

Challenger Gold Project

  • 313koz Au + fully permitted Central Gawler Mill (CGM)

Tarcoola Gold Project

  • 20koz Au in fully permitted open pit mine near CGM

  • Tolmer discovery grades up to 84g/t Au & 17,600g/t Ag

Tunkillia Gold Project

  • 1.6Moz Au & 3.1Moz Ag JORC Mineral Resources

  • Competitive 120kozpa gold & 250kozpa silver project

Wudinna Gold Project

  • 279koz Au project located southeast of Tunkillia

  • Significant optionality, adjacent to main highway

A map of australia with yellow squaresAI-generated content may be incorrect.

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).

*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.

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.

SOURCE: Barton Gold Holdings Limited



View the original press release on ACCESS Newswire

A.Williams--TFWP