Barisan Gold Provides Exploration Update at Upper Tengkereng
Prospect
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Jun 5, 2014) -
Barisan Gold Corporation (TSX-VENTURE:BG) is pleased to provide an
update on its exploration activities at its Upper Tengkereng
gold-copper porphyry discovery, located in the Province of Aceh,
Indonesia.
Activities at Upper Tengkereng are at an all time high with two
deep (1,750-metre) drill rigs operating 24 hours per day. Below is
a summary of results at the recently completed UTD-006 hole, as
well as summary of operations at the active UTD-007 and UTD-008
holes.
Hole UTD-006
Final assays for hole UTD-006 have been received from the
laboratory. From 4 to 990 metres, UTD-006 returned 986 metres of
0.5 g/t gold + 0.3% copper (0.6% copper equivalent at current
market prices), including 272 metres of 0.6 g/t gold + 0.6% copper
(1.0% copper equivalent at current market prices) within 594 metres
of 0.6 g/t gold + 0.4% copper (0.8% copper equivalent at current
market prices). On a whole, UTD-006 is the highest-grade hole
drilled so far at Upper Tengkereng.
Upon further review of the core, UTD-006 intersected two
distinct but continuous mineralized zones from 142 to 736 metres
that returned significant mineralization.
From 142 to 362 metres, UTD-006 intersected a high-grade
covellite rich silica-pyrophyllite-alunite zone, which returned a
220 metre intercept grading 0.6 g/t gold + 0.6% copper (1.0% copper
equivalent at current market prices). This covellite rich zone was
first intersected in UTD-002 where, from 226 to 340 metres, a 114
metre intercept returned 0.3 g/t gold + 0.7% copper (0.9% copper
equivalent at current market prices). The covellite rich zone
appears to sit close to surface and has returned the highest-grade
copper assays so far intersected at Upper Tengkereng. It appears to
be around 200+ metres in thickness and remains open in all
directions. UTD-008, currently being drilled, continues to test
this zone.
From 362 to 736 metres, UTD-006 intersected a high grade
chalcocite-chalcopyrite rich zone, which returned a 374 metre
intercept grading 0.6 g/t gold + 0.3% copper (0.7% copper
equivalent at current market prices), including a 76 metre
intercept grading 0.8 g/t gold + 0.3% copper (0.9% copper
equivalent at current market prices) from 634 to 710 metres. This
chalcocite-chalcopyrite rich zone was first intersected in UTD-004
where, from 656 to 906 metres, UTD-004 intersected 250 metres
grading 0.6 g/t gold + 0.4% copper (0.7% copper equivalent at
current market prices), including 160 metres grading 0.7 g/t gold +
0.4% copper (0.9% copper equivalent at current market prices). This
high-grade zone appears to sit immediately underneath the rich
covellite zone, starts at approximately 350 metres in depth, is at
least 500 metres in thickness and remains open in all directions
and at depth. UTD-008 is also testing the extent of this zone below
the covellite rich zone.
Following the results of UTD-006, Barisan Gold has now
identified three distinct high-grade zones at Upper Tengkereng, all
of which are open in all directions and at depth. Drilling over the
next few months will look to expand these high-grade zones,
delineate them in more details and target the potential for
additional high-grade zones. An updated investor presentation can
be found on the Barisan Gold website, where a number of tables and
maps show the location and grade distribution of all three
high-grade zones.
Hole UTD-007
Drilling at hole UTD-007 began on May 7, 2014. UTD-007 is being
drilled with an azimuth of 220 degrees and an inclination of 87
degrees from a new drill platform that has been built on the north
side of the highway. The objectives of UTD-007 are to test the
vertical true depth and length of the high-grade zone discovered on
the eastern edge of the deposit in holes UTD-002, UTD-003 &
UTD-005. Due to topographical challenges, the new drill platform
could not be built immediately above the high-grade zone but is
located 22 metres to northwest of the high-grade zone.
As of June 3, 2014, drilling at UTD-007 had reached 486 metres.
Drilling has been slower than anticipated due to the unusually high
rainfall experienced at site during most of the month of May. Since
May 24, 2014, the rain has subsided and drilling is now progressing
at a normal rate.
From surface until approximately 162 metres in length, UTD-007
intersected strong argillic-advanced argillic hydrothermal breccia
mineralization. All four holes (UTD-003/004/005/006) drilled from
that part of the deposit have intersected this mineralization in
the first 100-200 metres from surface. This zone has returned
material gold and copper assays in all previous four holes.
From 162 to 310 metres in length, UTD-007 intersected limestone
sulfidic breccia mineralization. UTD-007 is being drilling from the
eastern edge of the deposit adjacent to the limestone surface
contact zone. Indications are that the limestone contact zone
slightly curves into the porphyry deposit on the eastern edge at a
depth of 150-300 metres. The limestone intersected contains gold
and copper mineralization.
From approximately 326 metres until the present position,
UTD-007 has intersected strong argillic altered feldspar porphyry
intercut by hornblende feldspar porphyry mineralization as it
entered the core of the deposit. Mineralization intersected in this
section is akin to that in the high-grade zone intersected in holes
UTD-002/003/005. Should this prove correct, UTD-007 would have
extended the high-grade zone by another 100 metres closer to
surface.
Hole UTD-007 is being planned to a maximum depth of 1,500 metres
or until UTD-007 exits the high grade zone vertically or
horizontally.
Hole UTD-008
Drilling at hole UTD-008 began on May 23, 2014. The hole is
being drilled with an azimuth of 235 degrees and an inclination of
80 degrees from the same drill platform where holes UTD-005/006
were drilled. Barisan Gold had initially planned to drill UTD-008
from a new drill platform built in the south of the deposit area,
however heavy rainfall during the month of May has rendered such a
plan impossible due to the potential for landslides. That proposed
hole will now be drilled later this year during the dry season.
Hole UTD-008 is being drilled such to scissor cut hole UTD-002.
The objectives of UTD-008 are to (1) test the extension of the
covellite rich zone intersected in UTD-002/006 and (2) test the
extension of the chalcocite-chalcopyrite rich zone intersected in
UTD-004/006.
As of June 3, 2014, drilling at UTD-008 had reached 462 metres.
Drilling has been faster than anticipated, averaging over 40 metres
per day.
From surface until approximately 62 metres in length, UTD-008
intersected strong argillic-advanced argillic hydrothermal breccia
mineralization. Hole UTD-006 intersected this mineralization in the
first 75 metres from surface and returned material gold and copper
assays.
From approximately 62 metres until the present position, UTD-008
has intersected strong advanced argillic altered covellite rich
silica-pyrophyllite-alunite porphyry mineralization. Mineralization
intersected in this section is akin to that in the high-grade zone
intersected in holes UTD-002/006. Should this prove correct,
UTD-008 would have extended the high-grade zone by another 100
metres closer to surface and by 100 metres further at depth.
Hole UTD-008 is being planned to a maximum depth of 1,500 metres
or until UTD-008 exits the high-grade chalcocite-chalcopyrite rich
zone vertically or horizontally.
Barisan Gold retained the laboratory services of PT Intertek
Utama Services of Jakarta, Indonesia, which, in the case of
UTD-006, 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
info@barisangold.com and state your preference in the subject
line.
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
RelationsVancouver: +1 604 684
8676info@barisangold.comwww.barisangold.com
Barisan Gold Corporation (TSXV:BG)
Historical Stock Chart
From May 2024 to Jun 2024
Barisan Gold Corporation (TSXV:BG)
Historical Stock Chart
From Jun 2023 to Jun 2024