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Barton Gold Holdings Limited ( (AU:BGD) ) has issued an announcement.
Barton Gold has completed 8,065 metres of reverse circulation drilling and commenced a 1,490-metre diamond drilling program at its Challenger Gold Project in South Australia, adjacent to its Central Gawler Mill. The work aims to upgrade near-surface mineralisation around the Challenger open pits to JORC 2012 Indicated status and ultimately convert part of the 313,000-ounce resource into Ore Reserves.
The drilling underpins a Definitive Feasibility Study for a three- to four-year Stage 1 baseline operation using higher-grade tailings and limited shallow ore, while deliberately deferring any restart of Challenger’s historic high-grade underground mine. By focusing first on lower-risk, near-surface material and reactivating the Central Gawler Mill, Barton aims to reduce restart risk and enhance development options for its broader regional portfolio, including the Tarcoola, Wudinna and Tolmer projects.
The most recent analyst rating on (AU:BGD) stock is a Hold with a A$0.82 price target. To see the full list of analyst forecasts on Barton Gold Holdings Limited stock, see the AU:BGD Stock Forecast page.
More about Barton Gold Holdings Limited
Barton Gold Holdings is an Australian gold exploration and development company focused on advancing its Challenger, Tarcoola and Wudinna projects in South Australia. The company owns the Central Gawler Mill, positioning it to process ore from multiple regional gold and silver assets and pursue a staged restart of operations in the Central Gawler Craton.
Average Trading Volume: 656,432
Technical Sentiment Signal: Buy
Current Market Cap: A$174.3M
For a thorough assessment of BGD stock, go to TipRanks’ Stock Analysis page.