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Planning Underway for Expedited Follow-up RC and Diamond Programs
HIGHLIGHTS
2,882m reverse circulation (RC) drilling completed at Tolmer high-grade silver discovery; recent expansion from 13 to 21 holes based upon early drilling program observations[1]
Program expanded in all directions with two additional lines to north and south
Early surface reconnaissance and drilling progress sharpen silver focus
HIGHLIGHTS
Current ~2,500m reverse circulation (RC) drilling program underway at Tolmer discovery; planned gold drilling reallocated to prioritise silver zone following early observations1
Additional target holes added north, east, south and west of high-grade ‘discovery line'2
Scoping Report to define environmental programs for ML Application
HIGHLIGHTS
Recent Tunkillia OSS confirms large-scale gold project generating $2.7bn operating free cash1
Barton Gold fully funded to accelerate key long-lead PFS and Mining Lease programs
ERIAS engaged to lead environmental assessments for future Mining Lease applications
$2.7bn operating cash || $1.4bn NPV || 73% Equity IRR || 1 year payback 'Starter Pit' yields $825m operating cash from 206koz Au in ~1.1 years
Accelerating near-term production and large-scale growth plans
Targeting 2026 ‘Stage 1' operations and 1st quartile AISC cost profile
~120koz gold added, silver formally classified for Optimised Scoping Study
Comminution analyses indicate significant processing efficiency gains
HIGHLIGHTS
July 2024 Initial Scoping Study (ISS) validated efficiencies of scale, with a 5Mtpa producing ~130,000oz gold per annum at a competitive All-in-Sustaining-Cost (AISC) of A$1,917/oz Au[1]
Optimised Scoping Study (OSS) commenced November 2024, with key objectives to reduce power consumption, improve economics, and de-risk project working capital requirements[2]
Other OSS work programs underway include updated JORC Mineral Resources Estimate (MRE) block modelling, comminution testwork and scenario analyses, capex and opex optimisation, preliminary power options analyses, and open pit mine design and scheduling opportunities
Comminution testwork and scenario analyses now complete, with meaningful efficiency gains indicated; other programs remain underway, with OSS to be completed before 30 June 2025
Broad mineralisation intersected 50 - 100m below modelled pit floor
Grades up to 83.6 g/t Au and 312 g/t Ag in Quartz Veining
Focus on Resources Growth in Parallel with Optimised Scoping Study
HIGHLIGHTS
Tunkillia: 5,064m reverse circulation (RC) drilling completed targeting extensions of block model to support JORC Mineral Resources Estimate (MRE) growth and an Optimised Scoping Study
Tunkillia Scoping Study Outlines Competitive Large-Scale Gold Operation
HIGHLIGHTS
Live webinar with Q&A hosted by Sharewise on Monday, 12 August 2024
Starts at 07:30 London / 08:30 Zurich / 14:30 Perth / 16:00 Adelaide / 16:30 Sydney
Program completes with follow up to recent open pit floor JORC MRE
Targeting efficiencies of scale in gold production & future optimisation
HIGHLIGHTS
Live webinar with Q&A hosted by Small Caps Australia
Tuesday, 23 July @ 09:00 London / 10:00 Zurich / 16:00 Perth / 18:00 Sydney
Potential large-scale operation; multiple optimisation opportunities
EXECUTIVE SUMMARY
Initial Scoping Study completed for Barton's South Australian Tunkillia Gold Project (100%), for potential 5Mtpa bulk open pit mining and processing model targeting capital economies of scale
Initial 6.4 year life-of-mine (LoM) and total ~8 year project life (including construction), with a total of 30.7Mt processed materials grading an avg 0.93 g/t gold (Au) and 2.52 g/t silver (Ag)
Initial LoM estimates include:
total payable metal of ~833koz Au and ~1,993koz Ag
avg annual production of ~130koz Au and ~311koz Ag
avg operating cashflow of ~A$1,626 / oz Au (net of by-product Ag credits), and
Available for distribution to new eligible investors before 30 June 2025
HIGHLIGHTS
Up to $1,488,500 in refundable tax offsets / franking credits available to eligible investors
Offsets / franking credits apply to new shares issued during the 2024 / 2025 financial year