Tunkillia S1 Pit Drilling Yields Broad Intervals Above 2.5 g/t Gold, Projected $825m Profit

Strong Assay Results Reinforce Tunkillia’s Grade Potential

Barton Gold Holdings Limited has released compelling assay results from its recent infill drilling program at the Tunkillia Gold Project in South Australia. The assays reveal broad intervals of high-grade gold mineralisation within the central portion of the S1 ‘Starter Pit’, a key zone that Barton is prioritising for resource upgrade and early production.

The standout results include multiple intersections with grades exceeding 2.5 grams per tonne (g/t) over significant widths, and some intervals reaching exceptional grades above 20 g/t. These findings support a higher-grade mineralisation model for the S1 pit, which is critical for underpinning the project's economic viability and financing.

Financial Outlook Bolstered by Resource Upgrade Efforts

Modelling indicates that the S1 pit alone could generate an operating profit of approximately A$825 million in its first year, based on an average grade of 1.19 g/t gold and production of over 200,000 ounces. This would more than double the initial development costs within the first year of operations, highlighting the project's strong cash flow potential.

Barton is actively conducting infill drilling to convert mineral resources from the JORC Inferred and Indicated categories to the higher-confidence Measured category. This upgrade is essential to secure project financing and advance development. The company expects to receive the remaining Phase 1 assay results by January 2026, with an updated Mineral Resource Estimate targeted for March 2026.

Strategic Drilling and Future Development Plans

The infill drilling program has focused on the shallow, high-grade central zone of the S1 pit, which is approximately 300 meters long and 80 to 100 meters wide. This area is considered the most valuable part of the pit due to its grade and accessibility. Barton’s Managing Director, Alexander Scanlon, emphasised the importance of these results in de-risking the project and supporting financing efforts.

Looking ahead, Barton plans a Phase 2 drilling campaign from March to June 2026. This program aims to upgrade additional open pit mineralisation to the JORC Indicated category and to gather geotechnical and metallurgical data through diamond drilling. These efforts will feed into further pit optimisation and feasibility studies, advancing the project closer to production.

Context Within Barton Gold’s Portfolio

The Tunkillia Gold Project is a cornerstone asset within Barton Gold’s portfolio, which also includes the Challenger, Tarcoola, and Wudinna projects. With a combined JORC Mineral Resource of over 1.6 million ounces of gold and 3.1 million ounces of silver at Tunkillia, the company is positioning itself as a significant gold producer in South Australia’s Gawler Craton.

These latest assay results and resource upgrades at Tunkillia reinforce Barton Gold’s strategy to develop brownfield mines with existing infrastructure, including ownership of the region’s only gold mill. The company’s focus on high-grade, open-pittable mineralisation bodes well for efficient and profitable operations.