Barton Gold Initiates Phase 2 Drilling at Tunkillia

Barton Gold Holdings Limited has commenced Phase 2 of the resource upgrade drilling at their Tunkillia Gold Project in South Australia. This phase involves approximately 30,000 meters of reverse circulation drilling, following a successful Phase 1 that targeted high-grade intersections in the 'S1' and 'S2' pit areas. These efforts are aimed at integrating Tunkillia's open pit mineralisation into the JORC (2012) 'Measured' and 'Indicated' categories.

The Optimised Scoping Study released in May 2025 positioned Tunkillia as a promising development project. With projected annual productions of 120,000 ounces of gold and 250,000 ounces of silver, the study estimated an unlevered, pre-tax operating cash flow of approximately A$2.7 billion. The project is expected to achieve a payback period of 0.8 years at a NPV of A$1.4 billion.

The increased gold and silver prices, now exceeding A$2,000/oz and A$60/oz, respectively, have bolstered confidence in the project's potential profitability. Barton aims for a Mining Lease application by 2026 end, with preparatory steps for a pre-feasibility study underway.