Barisan Gold Intersects 202 Metres of 0.7 g/t Gold + 0.4% Copper +
0.01% Molybdenum in Hole UTD-004 at Upper Tengkereng Prospect
Assays Pending for Remainder of Hole UTD-004 to Final Depth of
1,465 Meters
Drilling Continues With Hole UTD-005 to Begin Shortly From New
Drill Pad Located at End of Recently Built 130-Meter Road Near
Center of Deposit
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Jan 9, 2014) -
Barisan Gold Corporation (TSX-VENTURE:BG) is pleased to announce
the first batch of drill results for hole UTD-004 at its Upper
Tengkereng porphyry prospect, located in the Province of Aceh,
Indonesia.
Hole UTD-004 was completed on January 8, 2014 at a final length
of 1,465 metres, making it the longest and deepest hole ever
drilled at the Barisan porphyry prospects. Similar to the three
previous holes, UTD-004 was fully mineralized, intercepting
porphyry mineralization six metres from surface all the way to the
end of the hole at 1,465 metres, with only a narrow 82 metre barren
zone intercepted towards the top of the hole (compared with two
barren zones for a combined 158 metres in UTD-003). As a result,
the porphyry system remains open in all directions as well as at
depth (true depth of UTD-004 is estimated at 1,394 metres) after
the first four holes.
Assays have been received for the first 986 metres of UTD-004,
results of which are presented below. Despite being drilled away
from the high-grade zone identified in UTD-002 and UTD-003, UTD-004
returned two intercepts that include similar high grades to those
intercepted in UTD-002 and UTD-003. From 320 to 350 metres, UTD-004
returned 30 metres at 1.2 g/t gold + 0.4% copper, similar to the
1.2 g/t gold + 0.5% copper intersected from 638 metres in UTD-002.
The UTD-004 intercept is 40 metres to the southwest and 300 metres
shallower than the UTD-002 intercept, hence widening the potential
shell of that high-grade zone both horizontally and vertically.
Deeper down hole, from 664 to 866 metres, UTD-004 returned 202
metres at 0.7 g/t gold + 0.4% copper + 0.01% molybdenum. This
202-metre long continuous high-grade zone is located 185 metres to
the east and 200 metres deeper than the high-grade zone of
UTD-002/003, potentially extending that zone on an east-west and
depth basis.
"We are very pleased with the first batch of results received
from hole UTD-004," said Alex Granger, Chief Executive Officer of
Barisan Gold. "Although we were drilling away from the high grade
zone identified in the last two holes, we still managed to
intercept two similar high grade zones in UTD-004 to those in holes
UTD-002 and UTD-003, including one zone that is 202 metre wide at
the 664 metre level, the second widest high grade zone intersected
in the deposit so far. The results appear to indicate that the high
grade zone is going much further to the west than our geological
models predicted."
Following UTD-003, Barisan Gold had identified a 60 by 25 metre
high-grade zone (with a depth of 250 metres). The potential
footprint of this high-grade zone has now been increased to 100 by
210 metre (with a depth of 530 metres) as a result of the two new
intercepts drilled in UTD-004.
In addition, UTD-004 has also returned the first meaningful
molybdenum intercepts identified at the Upper Tengkereng porphyry
prospect. The first 986 metres of UTD-004 average approximately
0.01% molybdenum with assays as high as 0.12% molybdenum in some
areas.
The following table presents the assays received to date for
UTD-004.
From (m) |
To (m) |
Interval (m) |
Gold (g/t) |
Copper (%) |
Moly (%) |
Rock Type |
6 |
186 |
180 |
0.16 |
0.16 |
0.011 |
AA-ARG, Hydro Breccia, FP |
186 |
238 |
52 |
0.37 |
0.23 |
0.006 |
AA-ARG, FP |
238 |
320 |
82 |
Barren Zone (grade below 0.1% copper eq.) |
Propylitic, HDI |
320 |
350 |
30 |
1.22 |
0.41 |
- - |
Phyllic/AA-ARG, FP |
350 |
482 |
132 |
0.36 |
0.17 |
- - |
Phyllic/AA-ARG, HFP |
482 |
664 |
182 |
0.30 |
0.12 |
- - |
SCC, HFP |
664 |
720 |
56 |
0.73 |
0.27 |
- - |
SCC/Phyllic, FP |
720 |
774 |
54 |
0.72 |
0.38 |
- - |
SCC, FP/EDI |
774 |
824 |
50 |
0.68 |
0.49 |
0.014 |
SCC, EDI |
824 |
866 |
42 |
0.46 |
0.37 |
0.011 |
SCC, EDI |
866 |
878 |
12 |
0.22 |
0.14 |
0.009 |
SCC, HFP |
878 |
904 |
26 |
0.39 |
0.29 |
0.021 |
SCC/Potassic, EDI |
904 |
946 |
42 |
0.25 |
0.19 |
0.010 |
SCC/Potassic, EDI |
946 |
986 |
40 |
0.10 |
0.07 |
0.010 |
SCC, EDI |
AA-ARG = Advanced Argillic-Argillic, ARG = Argillic, UA =
Unaltered, SCC = Chlorite-Sericite |
FP = Feldspar Porphyry, HFP = Hornblende
Feldspar Porphyry, HDI = Hornblende Diorite, EDI = Equigranular
Diorite |
The rest of hole UTD-004, from 986 to 1,465 metres, remains in a
series of dioritic and tonalitic intrusions which contain some
visually interesting zones that could yield meaningful intercepts.
From 1,044-1,080 & 1,097-1,193 metres, a tonalite rock
formation was intercepted which seems to contain meaningful
chalcopyrite mineralization. From 1,307-1,317 metres, a potassic
rock formation was intercepted which seems to contain meaningful
chalcopyrite mineralization. From 1,356-1,448 metres, meaningful
chalcopyrite mineralization has been visually identified.
Separately, on December 24, 2013, Barisan Gold completed the
construction of the new 130-metre road to the new drilling area on
time and below budget, allowing for the construction of the next
drill pad. The new drill pad is now ready to receive for set up the
rig as soon as de-commissioning of hole UTD-004 is complete. The
drilling contractor is currently pulling the rods out of UTD-004,
following which the rig will be moved to the new drill platform and
drilling of hole UTD-005 will begin. The transition between drill
pads is expected to take approximately two weeks.
Hole UTD-005 is being planned with an azimuth of 55 degrees and
an inclination of 76 degrees. UTD-005 is designed to test the north
eastern boundary of the high-grade zone identified in UTD-002 and
UTD-003 by pursuing the UTD-002 intercept of 59 metre grading 1.2
g/t gold + 0.5% copper both in the north eastern direction and at
depth. In addition, UTD-005 will be testing the limestone contact
zone identified at surface, located north east of the diorite
footprint. Very little is currently known about the limestone
present at surface and UTD-005 will help in determining the
vertical inclination of the limestone and how the mineralization
interacts in the contact zone between the porphyry and the
limestone zone. UTD-005 is planned to a length of 1,200 metres,
unless it hits a vertically dipping limestone zone prior to
that.
"UTD-005 is an exciting hole for Barisan Gold," further added
Alex Granger. "With completion of the permitting and construction
of the new drill pad located closer to the center of the deposit,
we will be able to target new highly prospective areas of the
porphyry deposit that were unreachable from the previous drill pad.
UTD-005 is lined up parallel to UTD-002 and will chase both the
northeast extension of the UTD-002 high-grade zone at a steeper
angle and the yet to be targeted contact zone between the diorite
and the limestone."
Barisan Gold intends on updating the market early in February
with final assays for the 986-1,465 metre section of UTD-004 as
well as a general progress update on drilling at UTD-005. Should
UTD-005 reach its targeted length of 1,200 metres, it is
anticipated be completed by mid/late March 2014.
Dibiansyah Hamid, MAIG, the designated QP within the meaning of
NI 43-101, has reviewed and approved the content of this
release.
Neither TSX
Venture Exchange nor its Regulation Services Provider (as that term
is defined in the policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this
release.
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About Barisan Gold Corporation
Barisan Gold (TSX-VENTURE:BG) is a Canadian-based minerals
exploration company listed on the TSX Venture Exchange under the
symbol "BG". The Company is engaged in the exploration, acquisition
and development of mineral properties in Indonesia. Barisan Gold
currently owns and operates two gold and gold-copper properties in
Indonesia's Aceh Province on the northern tip of Sumatra Island,
namely the Barisan gold-copper porphyry belt and the Abong
epithermal gold project. Barisan Gold currently has 40,721,186
shares outstanding.
Caution Regarding Forward Looking Statements
Certain statements in this News Release, which are not
historical in nature, constitute "forward looking statements"
within the meaning of that phrase under applicable Canadian
securities law. These statements include, but are not limited to,
statements or information concerning future work programs at the
Company's Upper Tengkereng Porphyry prospect, results and timing of
any work programs, the Company's performance or events as of the
date hereof. These statements reflect management's current
assumptions and expectations and by their nature are subject to
certain underlying assumptions, known and unknown risks and
uncertainties and other factors which may cause actual results,
performance or events to be materially different from those
expressed or implied by such forward looking statements. Those
risks include the interpretation of drill results; the geology,
grade and continuity of mineral deposits; the possibility that
future exploration, development or mining results will not be
consistent with our expectations; commodity and currency price
fluctuation; failure to obtain adequate financing; regulatory,
recovery rates, refinery costs, and other relevant conversion
factors, permitting and licensing risks; and general market and
mining exploration risks. Forward looking statements should not be
construed as investment advice. Readers should perform a detailed,
independent investigation and analysis of the Company and are
encouraged to seek independent professional advice before making
any investment decision. Accordingly, readers should not place
undue reliance on any forward looking statement. Except as required
by applicable securities laws, the Company disclaims any obligation
to update or revise any forward looking statements to reflect
events or changes in circumstances that occur after the date
hereof.
Barisan Gold CorporationSteven FeldmanManager Investor
Relations+1 604 684 8676info@barisangold.comwww.barisangold.com
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