The All Ordinaries Index (ASX: XAO) is down in morning trade today, but that's not holding back this rocketing ASX All Ords gold stock.
The surging miner in question is Barton Gold Holdings Ltd (ASX: BGD). Barton Gold only officially joined the All Ords Index on Monday, following the S&P Dow Jones Indices September quarterly rebalance of the S&P/ASX Indices.
Barton Gold shares closed yesterday trading for $1.11. In morning trade on Wednesday, shares are changing hands for $1.23 apiece, up 10.8%.
This sees the Barton Gold share price up an eye-popping 409% since this time last year.
Here's what's driving investor interest today.
Image source: Getty Images
ASX All Ords gold stock jumps on exploration results
The Barton Gold share price is charging higher after the company announced promising new gold and silver exploration results.
The assay results stem from ultrafine soil sampling programs completed at Barton's Tolmer and Black Oak Tank prospects at its Tarcoola Gold Project, located in South Australia.
The ASX All Ords gold stock said it collected the samples in July over a 1.9 square kilometre area surrounding the prior Tolmer gold and silver discoveries, along with a 23 square kilometre area covering the LLSZ (Lake Labyrinth Shear Zone).
And the Barton Gold share price is lifting off with the miner reporting that the new soil assays indicate potential northwest-southeast orientation of mineralisation and confirm broad surface gold, silver, and lead anomalism across Tolmer.
The miner added that it sees potential for "material extensions" of gold, silver, and lead mineralisation in the so-called 'western silver zone'.
What did management say?
Commenting on the promising assays sending the ASX All Ords gold stock flying higher today, Barton Gold CEO Alexander Scanlon said, "These assays provide the first hints as to orientation at Tolmer, indicating a potential overall northwest-southeast trend to the western silver zone and the potential for material extensions of its high-grade silver-gold footprint."
Scanlon added:
We have also identified potential new opportunities located between the 'western silver' and 'eastern gold' zones, where coincident Au-Ag-Pb anomalies present secondary targets analogous to the more prominent footprint of the 'western silver zone'.
We expect that pending assays from our recent diamond drilling program in the 'eastern gold zone' will materially assist our interpretation of local structural controls, and guide follow up drilling targeting.
The ASX All Ords gold stock expects assays for 595.3 metres of oriented Tolmer diamond drilling in early November. The miner said those results will help inform structural interpretation and follow up targeting across the gold and silver prospect.
