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Barton Gold Identifies Gold Mineralization at South Australia Gold Project

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Barton Gold Holdings (ASX:BGD) said it identified gold mineralization from recent drilling at its Challenger Gold Project in South Australia, according to a Wednesday Australian bourse filing.

The results were up to 8 meters at 1.7 grams per tonne gold from 55 meters, including 1 meter at 7.6 grams per tonne gold from 57 meters.

The company said the new assays confirm Challenger South-Southwest and Challenger 3 mineralization and support a potential new JORC 2012-compliant mineral resource estimate (MRE) for Challenger 3.

A definitive feasibility study is underway targeting a viable, simplified Stage 1 operation to underwrite the restart of the Challenger Gold Mine and maximize development optionality across Challenger, Tarcoola, Wudinna, and Tolmer, the filing added.

The company's shares fell nearly 2% in recent Wednesday trade.

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