Barton Gold ASX:BGD (OTCQB: BGDFF) has reported further broad gold intersections from Phase 2 resource upgrade drilling at its Tunkillia gold project in South Australia, with results infilling Area 223 North and the southern end of the main Area 223 optimised open pit.

The latest batch forms part of an expanded reverse circulation program of about 40,000 metres that is nearing completion, with a large number of assays still pending.

Results included 29m at 1.24 grams per tonne gold from 48m with 4m at 4.08g/t, and 22m at 0.93g/t gold from 44m with 4m at 2.82g/t.

Barton expects the completed program to support gold and silver Mineral Resource upgrades ahead of a pre-feasibility study (PFS) targeted for the first quarter of calendar 2027.

Broad Results Fill Key Zones

The new drilling further infilled existing mineralisation in Area 223 North and the southern zone of Area 223, where Barton is upgrading confidence in material incorporated within the optimised open-pit design.

Deeper results included separate intersections of 16m at 0.84g/t gold from 183m and 20m at 1.24g/t from 205m, with the latter containing 3m at 3.87g/t.

Another hole returned 19m at 1.34g/t gold from 149m, including 4m at 2.85g/t, while a nearby result delivered 16m at 1.15g/t from 134m.

All reported intercepts are downhole lengths rather than true widths, with Barton planning representative cross-sections once every assay from the current program has been received.

S1 and S2 Targets

Phase 2 has followed earlier upgrade drilling across the high-value S1 and S2 pit areas and is targeting additional zones within those pits alongside S3, Area 223 North and Area 51.

Assays reported to date have combined broad mineralised intervals with discrete higher-grade zones, while drilling at Area 51 identified broader and higher-grade extensions beyond the previously modelled mineralisation.

“Tunkillia continues to deliver confirmation of broad mineralisation in key target areas, with assays to-date identifying new and higher-grade mineralisation that supports potential quantity and grade improvements in multiple zones,” managing director Alexander Scanlon said.

“We look forward to completing these programs in the near future, following which we anticipate mineral resources upgrades for both gold and silver, the completion of our PFS, and the submission of our mining lease application.”

Study Work Advancing

The May 2025 Optimised Scoping Study (OSS) outlined annual production of about 120,000 ounces of gold and 250,000oz silver, with total life-of-mine operating cash of about A$2.7 billion on an unlevered, pre-tax basis.

Within the OSS schedule, the S1 and S2 pits were modelled to produce 365,000oz gold and 923,000 oz silver during the first 27 months, generating about A$1.3bn in operating free cash at assumed gold and silver prices of A$5,000 and A$50/oz.

Work supporting the PFS includes resource upgrade and diamond drilling, environmental and cultural heritage surveys, geotechnical and metallurgical analysis and studies covering tailings storage, other infrastructure and potential renewable energy options.

Barton is allowing the PFS schedule to accommodate the expanded drilling and prospective Mineral Resource upside before targeting completion in early 2027.