Barton Gold (ASX:BGD) commenced a diamond drilling programme at its Tunkillia Gold Project in South Australia.
Foraco Drilling has been commissioned to execute a 3,000-metre programme using two rigs, focused on enhancing geotechnical and metallurgical databases.
The works are essential for the upcoming JORC (2012) mineral resource estimate upgrades and open-pit design optimisation, which underpin the pre-feasibility study targeted for completion by the end of 2026.
The announcement follows a May 2025 optimised scoping study, which projected an annual production of approximately 120,000oz of gold and 250,000oz of silver.
The project boasts compelling economics, including an unlevered net present value (NPV_7.5\%) of $1.4 billion and a staggering internal rate of return (73.2%).
Current market conditions have seen gold and silver prices rise significantly above the OSS estimates, further bolstering the project’s potential.
Managing Director Alexander Scanlon emphasised that the "Starter Pit" strategy allows for rapid capital recovery, potentially paying back development costs twice over within the first year.
With three rigs now active on-site—including ongoing Phase 2 reverse circulation drilling—Barton Gold is operating on an expedited timeline.
At the time of reporting, Barton Gold’s share price was $0.98.