Barisan Gold Intersects 190 Metres of 1.3 g/t Gold & 0.6%
Copper (1.4% Copper Equivalent) Within 348 Metres of 0.9 g/t Gold
& 0.4% Copper (1.0% Copper Equivalent)
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Mar 31, 2014) -
Barisan Gold Corporation (TSX-VENTURE:BG) is pleased to announce
drill results for hole UTD-005 at its Upper Tengkereng gold-copper
porphyry prospect, located in the Province of Aceh, Indonesia.
Hole UTD-005 was completed on March 17, 2014 at a final length
of 1,121 metres. UTD-005 is the most successful drill hole to date
at Upper Tengkereng in terms of both grades and intercept width.
From 520 to 710 metres, UTD-005 returned 190 metres of 1.3 g/t gold
+ 0.6% copper (1.4% copper equivalent at current market prices)
within a wider intercept of 348 metres of 0.9 g/t gold + 0.4%
copper (1.0% copper equivalent at current market prices). In
addition, higher up hole, from 442 to 472 metres, UTD-005 returned
30 metres of 0.8 g/t gold + 0.3% copper + 0.002% molybdenum (0.8%
copper equivalent).
"Hole UTD-005 is an extraordinary drill hole and continues to
validate Upper Tengkereng's potential as a significant new
gold-copper porphyry system in a country that hosts some of the
world's richest porphyry deposits," said Alex Granger, Chief
Executive Officer of Barisan Gold. "Our geological models had
predicted a 150 metre wide high grade zone of 1% copper equivalent
from 525 metres; instead UTD-005 hit a 348 metre high grade zone of
1% copper equivalent from 520 metres. In addition, our geological
models had predicted we would hit the vertical limestone contact
wall at the 750 metre mark; instead limestone was never intersected
anywhere along the hole. This has resulted in changes to our
geological models which now show an extended and wider high grade
zone and a limestone contact zone that is diagonally dipping away
from the deposit rather than vertical."
Hole UTD-005 was drilled with an azimuth of 55 degrees and an
inclination of 78 degrees. The hole was mineralized six metres from
surface until the bottom of the hole. Two narrow barren zones (same
as the ones intersected in holes UTD-002/003/004) were intersected
at the 126-258 metre level and 472-520 metre level. From the
956-metre level, UTD-005 entered volcanoclastic sedimentary rock.
At the contact between the porphyry and volcanoclastic sedimentary
rock, UTD-005 intersected a skarn/calc-silicate zone which
returned, from 956-970 metres, 14 metres at 0.3 g/t gold + 0.3%
copper + 1.1% zinc. From 970 metres, the volcanoclastic sedimentary
zone remains mineralized, albeit at lower grades than those
experienced in the porphyry/diorite zones. The presence of this
skarn/calc-silicate zone in UTD-005 makes it more likely that there
exists skarn mineralization at the contact zone between the
limestone and the porphyry, which, if present, would likely be of
much higher grade than this skarn/calc-silicate zone as the skarn
identified in UTD-005 is only affected by calcareous sediment, not
pure limestone. No limestone was intersected in UTD-005, which
indicates that the limestone cap located east and north of the
diorite footprint is not vertically dipping but more likely
diagonally dipping away from the deposit, horizontally lying or
sitting much closer to surface. An updated geological
interpretation of the UTD-002/005 cross section can be found in the
latest version of the investor presentation located on the Barisan
Gold website (www.barisangold.com).
Assays have been received for the first 1,000 metres of UTD-005,
results of which are presented below. Assays for the remaining of
the final 121 metres are pending but are assumed to not be
meaningful as that zone is located in the volcanoclastic rock.
From |
To |
Interval |
Gold |
Copper |
Moly |
Rock Type |
(m) |
(m) |
(m) |
(g/t) |
(%) |
(%) |
|
6 |
76 |
70 |
0.31 |
0.30 |
0.014 |
AA-ARG, Hydro Breccia |
76 |
90 |
14 |
0.09 |
0.09 |
0.001 |
ARG, HFP |
90 |
126 |
36 |
0.27 |
0.19 |
0.001 |
ARG, Hydro Breccia |
126 |
258 |
132 |
Barren Zone (grade below 0.1% copper eq.) |
Propylitic, HDI |
258 |
280 |
22 |
0.60 |
0.21 |
0.001 |
AA-ARG, Hydro Breccia |
280 |
302 |
22 |
0.53 |
0.13 |
0.001 |
ARG, HFP |
302 |
370 |
68 |
0.59 |
0.24 |
0.001 |
AA-ARG/Phyllic, FP |
370 |
378 |
8 |
0.15 |
0.02 |
0.010 |
ARG, HFP |
378 |
442 |
64 |
0.41 |
0.12 |
0.001 |
Phyllic/ARG, HFP/FP/Hydro Breccia |
442 |
472 |
30 |
0.81 |
0.25 |
0.002 |
AA-ARG/Phyllic, FP |
472 |
520 |
48 |
Barren Zone (grade below 0.1% copper eq.) |
Propylitic, HDI |
520 |
710 |
190 |
1.30 |
0.55 |
0.001 |
ARG/Phyllic/SCC/Potassic, FP |
710 |
714 |
4 |
0.10 |
0.05 |
0.002 |
Propylitic, HFP |
714 |
742 |
28 |
0.65 |
0.48 |
0.002 |
SCC/Potassic, EDI |
742 |
868 |
126 |
0.25 |
0.19 |
0.001 |
SCC/Potassic, EDI |
868 |
956 |
88 |
0.13 |
0.11 |
0.020 |
SCC/Potassic, EDI |
956 |
970 |
14 |
0.25 |
0.30 |
0.002 |
Skarn/Calc-Silicate, Volcanoclastics Sediments |
970 |
1,000 |
30 |
0.06 |
0.06 |
0.001 |
SCC/Propylitic, Volcanoclastics Sediments |
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 |
In light of the results of UTD-005 (more precisely the presence
of skarn/calc-silicate and the lack of limestone), Barisan Gold has
hired, on a two-month contract, a team of geologists, whose sole
focus will be to map in detail the limestone area sitting to the
east and north of the diorite footprint. Barisan Gold aims to
identify key areas and build a drill pad atop the limestone over
the next few months in order to drill test the potential for skarn
mineralization at the contact zone between the porphyry and the
limestone.
In the meantime, drilling continues at Upper Tengkereng and, on
March 26, 2014, drilling commenced at hole UTD-006. UTD-006 is
being drilled using the same drill platform as UTD-005 with an
azimuth of 267 degrees and an inclination of 75 degrees. UTD-006
has been planned to test the south western part of the diorite
footprint where there hasn't been any drilling to date. The azimuth
is lined up to intersect one of the four high grade copper-gold
geochemical anomalies mapped at surface, located at the south west
corner of the diorite footprint. UTD-006 is also expected to
intersect, in the upper parts of the hole, the high grade copper
quartz-alunite zone where UTD-002 intersected 114 metres at 0.3 g/t
gold + 0.7% copper from 226 metres to 340 metres in length. UTD-006
is planned to a length of 1,500 metres, which is where it is
expected to reach the western edge of the diorite footprint. An
updated map is available on the Barisan Gold website
(www.barisangold.com/barisanporphyry/uppertengkereng) that shows
the positioning and direction of UTD-006.
As of March 29, 2014, UTD-006 had reached a length of 100
metres. The hole is mineralized 1 metre from surface until the
current position. Assuming forecast drilling pace is maintained,
UTD-006 should reach 1,500 metres towards the end of May 2014.
Barisan Gold retained the laboratory services of PT Intertek
Utama Services of Jakarta, Indonesia, which, in the case of
UTD-005, employed the fire assay method (FA50) on gold samples and
for other precious and base metal analyses, ICP with multi acid
digestion.
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.
To receive or stop receiving BG news via email, please email
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line.
FOR FURTHER INFORMATION, visit the Company's website at
www.barisangold.com.
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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