Barisan Gold Intersects 104 Metres of 1.0% Copper + 0.7g/t Gold (1.4% Copper Equivalent) Within 212 Metres 0.8% Copper + 0.6g...
23 June 2014 - 10:00PM
Marketwired
Barisan Gold Intersects 104 Metres of 1.0% Copper + 0.7g/t Gold
(1.4% Copper Equivalent) Within 212 Metres 0.8% Copper + 0.6g/t
Gold (1.1% Copper Equivalent)
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Jun 23, 2014) -
Barisan Gold Corporation (TSX-VENTURE:BG) is pleased to announce
the first tranche of assay results for hole UTD-008 at its Upper
Tengkereng gold-copper porphyry discovery, located in the Province
of Aceh, Indonesia.
Assays have been received from the first 400 metres of hole
UTD-008. Hole UTD-008 is being drilled parallel to UTD-002 but in
an opposite direction, scissor crossing that hole, with the
objective of expanding and further defining the second high grade
zone discovered in holes UTD-002 and UTD-006. UTD-008 is
mineralized 4 metres from surface. From 296 to 400 metres, UTD-008
returned 104 metres of 0.7 g/t gold + 1.0% copper (1.4% copper
equivalent at current market prices) within a wider intercept of
212 metres of 0.6 g/t gold + 0.8% copper (1.1% copper equivalent at
current market prices). The high-grade mineralization remains open
down hole at a depth below 400 metres.
|
From (m) |
To (m) |
Intercept (m) |
Gold (g/t) |
Copper (%) |
Gold Eq. (g.t) |
Copper Eq. (%) |
|
4 |
400 |
396 |
0.42 |
0.56 |
1.4 |
0.9 |
Incl. |
188 |
400 |
212 |
0.57 |
0.75 |
1.8 |
1.1 |
Incl. |
226 |
400 |
174 |
0.61 |
0.82 |
2.0 |
1.2 |
Incl. |
296 |
400 |
104 |
0.74 |
0.95 |
2.3 |
1.4 |
Copper Eq. & Gold Eq. calculated using current market
prices. No adjustments have been made for metallurgical recovery as
these remain uncertain at this time.
Hole UTD-008, as a whole, is the highest-grade hole drilled so
far at Upper Tengkereng averaging 0.9% copper equivalent over its
entire length to-date and returning the first 100-metre long
intercept of greater than 1% copper assays. In addition to further
validating the second high-grade zone initially discovered in holes
UTD-002 and UTD-006, UTD-008 has extended the high-grade zone
further to the south by over 50 metres and further at depth by
another 50 metres. The high-grade zone is not limited to the first
400 metres with indications it continues below that level.
This second high-grade zone, returning mineralization above 1.0%
copper equivalent, now covers an area of 100m x 100m at surface
based on the three holes drilled to-date and is open in all
directions. Further drilling in that area will seek to identify the
width of the high-grade zone on a north-south axis as all three
holes so far have been drilled on an east-west axis.
"Drilling at Upper Tengkereng continues to return outstanding
copper and gold mineralization", said Alex Granger, Chief Executive
Officer of Barisan Gold. "UTD-008 has not only returned the highest
grade intercept so far drilled at Upper Tengkereng but has also
done so in a zone that sits very close to surface, reinforcing the
economic potential of the deposit. The first high-grade zone
discovered at Upper Tengkereng seems to start 400-500 metres below
surface. This second high-grade zone starts within 150 metres from
surface with significant economic grades in the mineralization
above it. Upper Tengkereng continues to prove itself as a
world-class discovery and, to-date, demonstrates the possibility
that the high-grade Upper Tengkereng discovery and associated
porphyry-style mineralization may develop into a meaningful
copper-gold deposit."
An updated investor presentation can be found on the Barisan
Gold website, where the tables and maps have been updated to show
the location and grade distribution of this newly validated
high-grade zone.
Drilling continues at Upper Tengkereng despite minor technical
issues at both UTD-007 and UTD-008 that impacted drilling over the
past couple of weeks.
Drilling at UTD-007 was interrupted for one week in early June
due to technical issues with the rig. Since June 15, 2014, drilling
is back to normal and as of June 21, 2014 drilling had reached 773
metres in length. UTD-007 is testing the depths of the first
high-grade zone discovered in the eastern part of the deposit.
Drilling at UTD-008 was interrupted for a 10-day period in early
June due to technical issues with the rig. Since June 17, 2014,
drilling is back to normal and as of June 21, 2014, drilling had
reached 640 metres in length. Visual interpretation indicates that
the high-grade zone continues at depth below 400 metres.
Barisan Gold retained the laboratory services of PT Intertek
Utama Services of Jakarta, Indonesia, which, in the case of
UTD-008, 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.
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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 8676
info@barisangold.comwww.barisangold.com
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