Barton is party to 2 joint ventures on Exploration Licenses in the vicinity of the Challenger Mill.
Western Gawler Craton JV
The WGCJV is a joint venture between Barton and Half Moon Pty Ltd, a wholly-owned subsidiary of Tyranna Resources Limited (TYX). Barton has a present 21.99% interest in the WGCJV gold rights.
Sandstone 'All Minerals' JV
The Sandstone JV is a joint venture between Barton and Coombedown Resources Pty Ltd. Coombedown holds a 10% titled and free-carried interest until decision to mine. The Sandstone JV and WGCJV overlap on ELs 6569 and 5998, reducing Barton's effective net gold rights interest to 19.79%.
Map of Company Joint Ventures in the Vicinity of the Challenger Project
Mineralisation at the WGCJV encompasses the 'Jumbuck' group of deposits, comprising 6 small surface gold deposits. These area all located within ~40km of the Challenger Mill, and include:
on EL 6569 – Campfire Bore and Golf Bore;
on EL 5998 – Mainwood and Greenewood; and
on EL 6502 (southern portion) – Typhoon and Monsoon.
The Jumbuck deposits hosts JORC (2012) Mineral Resource Estimate of 319koz Au (8.7Mt @ 1.1 g/t Au).
For clarification and the avoidance of doubt, pursuant to the current terms of the WGCJV and the All Minerals JV, the Company has a present gold rights interest of 21.99% in the Monsoon and Typhoon deposits, and 19.79% in the Golf Bore, Campfire Bore, Greenewood and Mainwood deposits. Accordingly, the Company’s approximate attributable Mineral Resources inventory from the WGCJV is 63,900 ounces Au.