Seismic Survey Reveals Tarcoola Goldfield Architecture

ADELAIDE, AUSTRALIA / ACCESSWIRE / June 14, 2024 /

HIGHLIGHTS

• Known Tarcoola gold mineralisation tied into consistent structural framework
• Multiple new previously untested structures mapped across key target zone
• Aerial footage of August 2023 seismic program in action can be viewed here

Barton Gold Holdings Limited (ASX:BGD)(FRA:BGD3)(OTCQB:BGDFF) (Barton or the Company) is pleased to announce seismic analysis results from the Tarcoola Gold Project (Tarcoola), where in August 2023 HiSeis completed a detailed survey using a combination of accelerated weight drop and Vibroseis trucks.1

The survey successfully mapped several new and previously untested structures across the historical Tarcoola Goldfield, with preliminary analysis indicating that gold mineralisation is closely associated with deeper-tapping sub-vertical structures similar to the Perseverance Fault.

Fig 1 – Tarcoola NE trending (blue), NE sinistral (green), and NW trending (purple) fault structures

Commenting on the Tarcoola seismic survey results, Barton MD Alex Scanlon said:

“We are excited to see the Tarcoola Goldfield’s detailed architecture for the first time since its discovery 130 years ago. With little modern exploration and a history of high-grade production from over 600 shallow historical workings, the potential for exciting new discoveries is significant. We are analysing these results in combination with our other data sets, and expect to drill test our highest-priority exploration targets during early 2024.”

Background & Program Overview

During 2020 Barton completed a high-definition reprocessing of historical seismic data around Tarcoola to better understand the local structural architecture.1 The results confirmed the location and orientation of the Perseverance Fault (which controls the mineralisation of the Perseverance Mine) and identified a system of major structures analogous to the Perseverance Fault across the historical Tarcoola Goldfield.2

In August 2023 the Company completed a new seismic survey over this target area, collecting over 40 line-km of data along 5 lines to develop a higher resolution model of near surface (0-500m depth) structures.3

Fig 2 – Interpreted Tarcoola 2D structural architecture from 2020 seismic reprocessing 2Fig 3 – August 2023 survey lines (black) and historical survey lines (pink) with RTP magnetics

Key Observations from New August 2023 Seismic Survey

The Perseverance Mine is located on Mining Lease (ML) 6455 and was operated during 2017 and 2018, with an average ore grade of ~3.8 g/t Au sent to the Company’s Central Gawler Mill during 2018.4 The latest analysis indicates a corridor of Perseverance Fault-like structures located just west of the open pit.

Fig 4 – Interpreted analogous structures located adjacent and parallel to the Perseverance Fault

The new model (fig. 5) suggests that gold tends to occur in association with early NE trending structures (blue), in the footwall of NNE trending sinistral basin faults (green), and in the footwall of later NW trending faults (purple). This is the first time that known gold occurrences can be put into a structural framework. Larger occurrences appear to be closely associated with deep-tapping sub-vertical structures like the Perseverance Fault, with several such structures newly identified through this seismic analysis.

Fig 5 – Tarcoola interpreted structural architecture with key known regional gold occurrences

Authorised by the Board of Directors of Barton Gold Holdings Limited.

For further information, please contact:

1 Refer to ASX announcements dated 7 / 14 August 2023
2 Refer to Prospectus dated 14 May 2021
3 Refer to ASX announcements dated 7 / 14 August 2023
4 Refer to Prospectus dated 14 May 2021

Competent Persons Statement

The information in this announcement that relates to new Exploration Results for the Tarcoola Gold Project (including drilling, sampling, geophysical surveys and geological interpretation) is based upon, and fairly represents, information and supporting documentation compiled by Mr Marc Twining BSc (Hons). Mr Twining is an employee of Barton Gold Holdings Ltd and is a Member of the Australasian Institute of Mining and Metallurgy Geoscientists (AusIMM Member 112811) and has sufficient experience with the style of mineralisation, the deposit type under consideration and to the activity being undertaken, to qualify as a Competent Person as defined in the 2012 Edition of the “Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves” (The JORC Code). Mr Twining consents to the inclusion in this announcement of the matters based upon this information in the form and…