After its ASX listing in June, Barton Gold (ASX: BGD) has secured $300,000 in funding from the South Australian Government to advance exploration at its Tarcoola project in the state.
The company secured the $300,000 under the South Australian Government’s accelerated discovery initiative.
This grant offers Barton the $300,000 in co-funding to finance an approved program of works at Tarcoola.
Barton managing director Alexander Scanlon said the company was “honoured” to receive support from the South Australian Government in its efforts to revive exploration in the state’s central Gawler Craton.
Barton noted there has been “significant historical interest” in the gold potential at Tarcoola.
The project was mined during the early 1900s and again at the Perseverance deposit between 2017 and 2018.
Little modern exploration
Mr Scanlon said Tarcoola and the company’s other project in the region Tunkillia were underexplored over the past 20-or-so years.
“However, our recent work has identified considerable new potential across large scale structures,” he added.
Barton acquired new high-resolution aeromagnetics for Tarcoola in 2020 and completed a regional seismic reinterpretation.
This led to the identification of a new, highly prospective system of shears and faults analogous to the Perseverance Shear which was the major structure of the previous mine.
Mr Scanlon said the funding will assist with mapping out further key structural and stratigraphic controls on mineralisation at the project to firm up priority drill targets.
Upcoming work will comprise high-resolution gravity surveys, ground penetrating radar, advanced geochemical techniques and drill testing of targets.
A ground penetrating radar survey is already underway after beginning last month. This survey is covering a 2.6sq km area and will include near mine sections.
Tarcoola is Barton’s initial focus due to its proximity to the company’s 650,000 tonne per annum processing plant and associated site infrastructure including accommodation, labs and an airstrip.
The project covers 1,202sq km and hosts numerous high-grade historic workings that produced about 77,000 ounces of gold at 37.5 grams per tonne between 1900 and 1955.