Barton Gold (ASX: BGD) has reported significant progress at its Tunkillia and Tarcoola gold projects in South Australia, marking a strong quarter with a minimal net cash burn of $38,000. The company’s strategic asset monetization and grants initiatives have generated over $12 million since its IPO in June 2021, mitigating equity dilution while enhancing shareholder value.
Key developments include an updated resource estimate for Tunkillia, increasing gold content to 1.6Moz and introducing an inferred silver resource of 3.1Moz. Drilling extensions below the main ‘Area 223’ deposit support a higher-grade ‘starter pit’ projected to produce over 180,000oz of gold at a cash cost below $1,250/oz. Furthermore, Barton Gold discovered a new western silver zone at Tarcoola, yielding high-grade silver assays, independent of gold. The company is expediting follow-up drilling programs to map the extensions of this zone and accelerating Tunkillia feasibility studies. With $7 million cash reserves and a track record of asset monetization, Barton Gold is well-positioned to advance its projects.