Barton Gold Holdings Limited announced an updated JORC Mineral Resources Estimate (MRE) for the Tunkillia Gold Project (Tunkillia). Approximately 15,200m of drilling has added approximately 224,000 oz Au in the cornerstone 223 Deposit and the 223 North satellite gold zone for an estimated ?all in' cost of approximately AUD 16 /new ounce. Total Tunkillia Mineral Resources are now 1.38Moz Au (46.3Mt @ 0.93 g/t Au), with approximately 58% classified in the ?Indicated' category.

An updated Tunkillia plan map showing the updated December 2023 MRE outlines, and regional targets Area 51, Area 191 and SE Offset. The updated Tunkillia MRE includes a northern extension of the 223 Deposit, a new offset zone of mineralisation proximal to its southern extent of the 223 Deposit (Southern 223), and the conversion of the 223 North gold zone into JORC classification. The updated JORC MRE for the Tunkillia Gold Project is now 1.38 Million ounces gold (46.3Mt @ 0.93 g/t Au), as reported in accordance with JORC (2012).

Barton acquired Tunkillia in December 2019 as a 558koz Au deposit with the view that Tunkillia had significant growth potential due to limited historical exploration during a period of low gold prices. Around 77% of all Tunkillia drilling was completed from 1996 to 2005 (USD gold below $400/oz), with another approximately 8% from 2005 to 2008 (USD gold average price approximately $650/oz). As a result, approximately 85% of all historical drilling was therefore completed with a weighted average gold price below USD 425/oz, and was on average very shallow.

Barton has since confirmed multiple Tunkillia depth extensions and three new gold zones at Areas 223 North, 191, and 51, with three JORC MRE updates. 1 In November 2021 Barton confirmed the central zone of the 223 Deposit as a higher-grade priority development target area. In April 2023 the 223 Deposit MRE was upgraded from 965koz Au (26.1Mt @ 1.15 g/t Au) to 1.15Moz Au (38Mt @ 0.94 g/t Au) via significant depth extensions of 50 - 150m in three key target zones.

This MRE update adds approximately 800m of mineralisation into JORC classification in northern and southern zones proximal to the 223 Deposit, plus a further approximately 780m into JORC classification within the ?223 North' satellite gold zone. A total approximately 8.3Mt and approximately 224,000 new ounces have been added for an estimated ?all in' cost of only approximately AUD 16 /oz with 89 RC holes (15,189m) completed at an estimated ?all in' cost of AUD 3.6 million (including drilling, assays, logistics, labour, and Native Title costs).