Tunkillia Optimised Scoping Study: Progress Update and Efficiency Gains

Barton Gold Holdings Limited (ASX:BGD)(FRA:BGD3)(OTCQB:BGDFF) has provided a progress update on its ongoing Optimised Scoping Study (OSS) for the Tunkillia Gold Project in South Australia. The OSS, which commenced in November 2024, aims to reduce power consumption, improve economics, and decrease project working capital requirements. Recent comminution testwork and scenario analyses have shown significant efficiency gains, including reduced work indices and power consumption for all material types, with increased effective throughput rates of softer oxide materials during early operations.

These findings are now under review for validation by a second, independent technical consultancy, with capex, power options, and mine scheduling underway for completion of the OSS before 30 June 2025. Barton MD Alexander Scanlon commented on the ongoing Tunkillia OSS: "Tunkillia's Initial Scoping Study validated Barton's thesis for an efficient, large-scale operation at Tunkillia. The key objectives of the Optimised Scoping Study are not only to further improve economics, but also to de-risk the project by reducing total power consumption, working capital requirements and exposure to energy price risk. We anticipate that the Tunkillia OSS will demonstrate meaningful cost and efficiency gains, with our preliminary scenarios analyses and power studies better informing a budget and plan for expedited feasibility studies."

The Initial Scoping Study (ISS) for the Tunkillia Gold Project, published in July 2024, demonstrated a 5Mtpa operation producing approximately 130,000oz gold annually at an All-in-Sustaining-Cost (AISC) of A$1,917/oz Au. The OSS aims to build upon these results by further optimising the project's economics and reducing risks. The ongoing studies include updated JORC Mineral Resources Estimate block modelling, capex and opex optimization, preliminary power options analyses, and open pit mine design.



The Tunkillia Gold Project is South Australia's largest undeveloped gold-only project, located west of BHP's Prominent Hill, Olympic Dam, and Carrapateena Copper-Gold mines along Australia's main Sydney-Perth rail corridor. The project has a total 1.5Moz Au JORC Resources with the addition of the new Area 51 Deposit, and the ISS targeted economies of scale with a 5Mtpa operation producing 130kozpa gold and 311kozpa silver at a competitive AISC.

The recent comminution testwork and scenario analyses indicate significant processing efficiency gains, which can lead to lower operating costs and improved project economics. These efficiency gains, combined with the project's strategic location and large resource base, position Tunkillia as a promising gold development opportunity in the renowned central Gawler Craton of South Australia.



In conclusion, the Tunkillia Optimised Scoping Study is on track to demonstrate meaningful cost and efficiency gains, with preliminary scenarios analyses and power studies better informing a budget and plan for expedited feasibility studies. The project's strategic location, large resource base, and recent efficiency gains position Tunkillia as a promising gold development opportunity in the central Gawler Craton of South Australia. Investors should closely monitor the progress of the OSS and the potential benefits it may bring to the project's economics and long-term viability.