BARTON GOLD HLDGS LTD - BGDFF STOCK NEWS

Barton Gold Holdings has released an initial Scoping Study for its wholly-owned Tunkillia Gold Project in South Australia. The study suggests a potential large-scale operation with a 5Mtpa bulk open pit mining and processing model.

The project has an estimated 6.4-year life-of-mine (LoM) with an additional 1.6 years for construction, processing a total of approximately 30.7Mt of materials. Average grades are projected at 0.93 g/t gold (Au) and 2.52 g/t silver (Ag), resulting in ~833koz of payable Au and ~1,993koz of payable Ag.

Initial estimates include an average annual production of ~130koz Au and ~311koz Ag, with an average operating cash flow of ~A$1,626/oz Au, and an average All-in Sustaining Cost (AISC) of ~A$1,917/oz Au. The initial capital cost is ~A$374m, leading to a Net Present Value (NPV) of ~A$512m at a 7.5% discount rate, and a 40% IRR with a 1.9-year payback period.

The study was prepared by GR Engineering and Mining Associates, and complies with JORC Code 2012 standards. Additional funding of ~A$492 million will be required, and there is no certainty Barton will secure this funding, which may affect shareholder value.

Barton Gold Holdings (ASX:BGD, OTCQB:BGDFF) has been allocated $1,488,500 in Junior Minerals Exploration Incentive (JMEI) credits by the Australian Taxation Office for the 2024/25 financial year. These credits can be distributed to eligible investors who acquire new Barton shares between July 1, 2024, and June 30, 2025.

The JMEI scheme allows eligible exploration companies to offer refundable tax offsets or franking credits to new investors. The actual amount received by each investor will depend on factors such as the total new shares issued, Barton's greenfields exploration expenditure, and the company's tax loss for the year.

Barton's Managing Director, Alex Scanlon, highlighted that this allocation adds to the company's track record of generating non-dilutive funding, which has exceeded $10 million over the past three years. While Barton currently has over $10 million in cash and no plans for new capital raising, the JMEI credits offer potential value to investors.

Barton Gold Holdings has increased its JORC Mineral Resources Estimate (MRE) at the Tarcoola Gold Project's Perseverance Mine to approximately 20,000 ounces (koz) of gold at an average grade of 2 grams per tonne (g/t) within 60-80 meters of the open pit floor. The total MRE for Tarcoola is now 29.5 koz Au, with 45% classified as 'Indicated'.

This update follows recent drilling of 1,688 meters, confirming high-grade extensions and identifying new structures. The historical Tarcoola Goldfield, which has produced 77 koz of gold between 1893 and 1955, is being evaluated for additional high-grade potential. Barton is also testing regional targets for new mineralization.

The company has plans to leverage its fully permitted mill and further extend the resources at Tarcoola. Barton's broader strategy includes integrating resources from the neighboring Tunkillia Gold Project, which has grown to an MRE of 1.5 Moz Au over the past two years.

Barton Gold Holdings has announced the appointment of Nicola Frazer as its new Chief Financial Officer, effective immediately. Nicola brings over 25 years of experience in South Australia's mining and oil & gas sectors, including roles at Normandy Mining and Beach Energy. Her expertise spans corporate finance, investor relations, commercial development, and grant funding. Nicola will play a key role in advancing Barton's Tunkillia Gold Project, currently in its early planning stages. This appointment aligns with Barton's strategy to secure non-dilutive funding and expand its commercial and project-level development initiatives.

Barton Gold Holdings announced the sale of approximately 1,400 ounces of gold, recovered from its December 2022 mill cleanout and preservation program. The sale was executed under a treatment and refining contract, with an initial provisional payment of USD $2.82 million (AUD $4.25 million) received, representing 90% of the gold’s estimated value. Final payment will depend on further weighing, sampling, and assay results, expected by July 2024. The company highlights this sale as a significant achievement, contributing to over AUD $10 million in non-dilutive cash generated since its IPO in June 2021. These funds have covered all corporate costs and strengthened Barton's financial position.

Barton Gold Holdings (ASX:BGD, OTCQB:BGDFF, FRA:BGD3) announced high-grade assay results from its drilling activities at the Perseverance open pit mine in the Tarcoola Goldfield, Australia. Over 26 reverse circulation (RC) drill holes and 3 diamond drill (DD) holes were completed, revealing multiple shallow high-grade extensions and new structures. Specifically, shallow intersections up to ~12 g/t Au were discovered, with notable intercepts including 12m @ 1.67 g/t Au from 12m depth and 6m @ 11.9 g/t Au from 20m depth. The ongoing 7,000m RC drill program aims to explore additional high-priority targets across the Tarcoola Goldfield. Managing Director Alex Scanlon highlighted the success in connecting deeper mineralization with existing pit floor structures, which is a positive development toward potential 'Stage 1' operations. The new findings provide valuable geological context and continuity of mineralized zones, enhancing the potential for future mining operations.

Barton Gold Holdings announced seismic survey results from the Tarcoola Gold Project in Australia. The survey, conducted in August 2023, mapped new and untested structures in the Tarcoola Goldfield, revealing deeper sub-vertical structures associated with gold mineralisation. This is the first detailed architectural analysis since the goldfield's discovery 130 years ago. The company plans to drill test key exploration targets in early 2024. Historical data reprocessing in 2020 confirmed the Perseverance Fault's location, which controls mineralisation at the Perseverance Mine, operational in 2017-2018 with an average ore grade of 3.8 g/t Au.

Barton Gold Holdings has secured DTCC approval for real-time electronic trading and settlement of its OTCQB shares (BGDFF) in the USA. This enables BGDFF shares to be traded by a wide range of US full-service and online brokers. The approval significantly reduces counterparty and custodial risks for market participants. Barton's MD, Alex Scanlon, noted the increased international participation in their share register and the convenience this provides to North American investors interested in Barton shares. The move enhances Barton's engagement with North American investors, allowing trading in US dollars during North American market hours.

Barton Gold Holdings (ASX:BGD) announced an independent valuation report for its Central Gawler Mill in Adelaide, Australia. The mill, important for Barton's future Stage 1 operations, has been valued at over $100 million in replacement value, and over $50 million in indemnity value. Key equipment has been preserved to aid in future recommissioning. Barton MD, Alex Scanlon, highlighted the mill's strategic value in supporting regional gold mineralization development, potentially through third-party toll milling or accelerated operations. The mill's full permits and licenses are seen as advantageous for low-risk, cost-efficient operations that could generate early cash flow for long-term projects.