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Highlights
- Barton Gold (BGD) completes $5M gold concentrate sale.
- Funds boost key development projects and operational efficiency.
- Latest drilling programs target growth in Tunkillia and Tarcoola projects.
Barton Gold (ASX:BGD) has finalized its $5 million gold concentrate sale, further enhancing its position as a leading explorer in South Australia. The sale, derived from December 2022 clean-out and preservation activities at the Central Gawler Mill, marks another milestone in the company’s focus on efficient resource monetization.
The final payment of $775,000 has been received, completing the sale of approximately 1,425 ounces of gold concentrate under a treatment and refining contract. Barton estimates the total costs associated with the recovery and processing at approximately $800,000. This translates to a net profit margin of about $2,950 per ounce, providing valuable financial support for ongoing development initiatives.
Strategic Development and Growth
Barton Gold’s approach to monetization has proven instrumental in supporting its corporate and exploration costs. Since its IPO in June 2021, Barton has generated over $10 million in non-dilutive cash, offsetting corporate overhead expenses and extending cost-effective exploration programs. This strategy minimizes equity dilution, preserving shareholder value.
The latest sale reinforces Barton’s ability to deliver competitive outcomes in the gold market while progressing its key development projects. The company continues to focus on optimizing project economics and extending the life of its assets.
Tunkillia Drilling Program
Barton recently announced the completion of its latest drilling program at the Tunkillia project. The initiative targeted parallel lodes and depth extensions in areas with previous indications of mineralization, aiming to grow the resource base and enhance project economics. By identifying unassessed gold zones, the company seeks to strengthen the long-term viability of Tunkillia while optimizing key cost drivers.
Advancing Tarcoola Commercialization
Simultaneously, Barton is advancing its Tarcoola gold project. Following the promising Tolmer discovery, confirmed in August with high-grade assays, Barton has launched a new drilling program to accelerate development. Tolmer’s quartz-sulphide veining within altered zones highlights the broader potential for multiple shallow, high-grade gold zones across Tarcoola. These efforts align with Barton’s broader vision to maximize resource potential and commercialize its assets efficiently.
Through continued exploration and development, Barton Gold remains well-positioned to expand its resource base and operational capabilities, delivering on its strategic goals across South Australia.
