Barton Gold (ASX:BGD) launched an 8,000-meter reverse circulation drilling program at its Challenger Gold Project in South Australia.
The critical resource upgrade program targets the conversion of open-pit mineralisation into "indicated" categories, laying the groundwork for a definitive feasibility study and an initial "Stage 1" ore reserve estimate, both expected by June 30.
The drilling focuses on the Challenger Main, West, and South-Southwest open pits, following recent JORC (2012) mineral resource upgrades that boosted the project’s total resource to 313koz Au.
Barton’s strategy centers on a low-risk, "baseline" operational model designed to restart the company’s wholly-owned Central Gawler Mill.
By prioritising near-surface materials and historical high-grade tailings, the company aims to achieve producer status while deferring the costs and technical risks associated with underground mining.
Managing Director Alexander Scanlon noted that this "Stage 1" approach not only capitalizes on record gold and silver prices but also unlocks development optionality for the company’s regional assets, including the Tarcoola, Wudinna, and Tolmer projects.
At the time of reporting, Barton Gold’s share price was $1.12.