Barisan Gold Discovers Second High Grade Zone at Upper Tengkereng Gold-Copper Porphyry Discovery With 272 Metres of 0.6 g/t G...
12 5월 2014 - 9:00PM
Marketwired Canada
Barisan Gold Corporation (TSX VENTURE:BG) is pleased to announce that drilling
at hole UTD-006 has confirmed the presence of a second distinct high-grade zone
located in the south-central part of the Upper Tengkereng gold-copper porphyry
discovery, located in the Province of Aceh, Indonesia.
Assays have been received from the first 600 metres of hole UTD-006, which
confirm the existence of a second high-grade zone. From 142 to 414 metres,
UTD-006 returned 272 metres of 0.6 g/t gold + 0.6% copper (1.0% copper
equivalent at current market prices) within a wider intercept of 458 metres of
0.6 g/t gold + 0.5% copper (0.9% copper equivalent at current market prices).
This new high-grade zone remains open down hole and is anticipated to return
meaningful grades until at least the 730-metre mark in length.
This newly validated high-grade zone was initially encountered in the upper part
of hole UTD-002, where 114 metres at 0.3 g/t gold + 0.7% copper from 226 metres
to 340 metres was intersected. UTD-006 was drilled approximately 110 metres
north of UTD-002, also on an east-west axis, and intersected that same
mineralization, hence validating this as a high-grade zone. An updated investor
presentation has been uploaded onto the Barisan Gold website, where a number of
tables and maps show the location and grade distribution of this newly
discovered high-grade zone.
This high-grade zone (#2) is separate and distinct from the high-grade zone
previously discovered in the eastern part of the deposit (#1) by holes
UTD-002/003/005. High-grade zone #2 is characterized by covellite rich
mineralization located within a strong advanced argillic altered zone.
High-grade zone #2 starts close to surface (intersected at approximately 100
metre true depth in UTD-006) and contains a higher concentration of
copper-to-gold, 60:40 (Cu:Au ratio at current market prices). On the other hand,
high-grade zone #1, located in the eastern part of the porphyry discovery is
characterized by chalcopyrite-chalcocite rich mineralization located within a
strong advanced argillic-phyllic/chlorite-sericite zone. High-grade zone #1 has
been intersected deeper (intersected at approximately 400 metre true depth in
UTD-003) and contains a more balanced concentration of copper-to-gold, 45:55
(Cu:Au at current market prices).
The following table summarizes the results received in the first 6 holes of the
two high-grades that have been validated.
----------------------------------------------------------------------------
Cu
From To Intercept Au Cu eq.
Hole # (m) (m) (m) (g/t) (%) (%) Main Mineralization Alteration
----------------------------------------------------------------------------
High-Grade Zone #1
----------------------------------------------------------------------------
Argillic-
002 638 696 58 1.2 0.5 1.2 Chalcopyrite/Chalcocite Phyllic
----------------------------------------------------------------------------
Argillic-
003 428 690 262 0.8 0.5 1.0 Chalcopyrite/Chalcocite Phyllic
----------------------------------------------------------------------------
Argillic-
005 520 710 190 1.3 0.6 1.3 Chalcopyrite/Chalcocite Phyllic
----------------------------------------------------------------------------
----------------------------------------------------------------------------
High-Grade Zone #2
----------------------------------------------------------------------------
Advanced
002 254 340 86 0.4 0.7 1.0 Covellite Argillic
----------------------------------------------------------------------------
Advanced
006 142 414 272 0.6 0.6 1.0 Covellite Argillic
----------------------------------------------------------------------------
Cu Eq. calculated using current market prices
"We are extremely pleased with the results of hole UTD-006", said Alex Granger,
Chief Executive Officer of Barisan Gold. "Discovering a new high-grade zone that
sits right at surface and has the highest copper values intersected so far has
significantly improved the economics of the Upper Tengkereng deposit. The Upper
Tengkereng discovery continues to produce stellar results with all six holes
drilled so far returning meaningful intercepts over 1% copper equivalent. We
have now validated two material high-grade zones and identified the potential
for two more that have yet to be validated. Additional blue sky opportunities
remain under the limestone cap located to the east of the deposit, under the
hydro-breccia located to the south of the deposit and below the high-grade soil
geochemistry anomalies."
As a whole, UTD-006 is the highest-grade hole that has been drilled so far at
Upper Tengkereng. UTD-006 is mineralized 4 metres from surface and returned a
596-metre intercept grading 0.5g/t gold + 0.4% copper (0.7% copper equivalent at
current market prices) over the entire length of the hole so far. Summary assay
results are presented in the following table.
----------------------------------------------------------------------------
From To Interval Gold Copper Moly Rock Type
(m) (m) (m) (g/t) (%) (%)
----------------------------------------------------------------------------
4 34 30 0.27 0.26 0.019 ARG, Hydro Breccia
----------------------------------------------------------------------------
34 56 22 0.18 0.09 0.005 AA-ARG, HFP
----------------------------------------------------------------------------
56 74 18 0.29 0.50 0.014 AA-ARG, Hydro Breccia
----------------------------------------------------------------------------
74 82 8 0.14 0.06 0.007 ARG, HFP
----------------------------------------------------------------------------
82 104 22 0.24 0.43 0.019 AA-ARG, FP
----------------------------------------------------------------------------
104 140 36 0.20 0.07 0.005 ARG, HFP
----------------------------------------------------------------------------
140 288 148 0.57 0.64 0.006 AA-ARG, FP
----------------------------------------------------------------------------
288 290 2 0.19 0.25 0.003 Phyllic, HFP
----------------------------------------------------------------------------
290 600 310 0.58 0.37 0.007 AA-ARG/Phyllic/SCC, FP
----------------------------------------------------------------------------
AA-ARG = Advanced Argillic-Argillic, ARG = Argillic, SCC = Chlorite-Sericite
FP = Feldspar Porphyry, HFP = Hornblende Feldspar Porphyry
Following the discovery of a new high-grade zone located in the south-central
part of the porphyry, Barisan Gold has decided to build a new drill platform at
the southern end of the deposit. Hole UTD-008, which is currently in the
preparation stage, will target the high-grade zone #2 on a north-south axis
(UTD-002/006 were both drilled on an east-west axis) to determine the true width
of the high-grade zone on that axis. UTD-008 will also target a high-grade
intercept from hole UTD-004 further to the north where UTD-004 returned 242
metres of 0.6g/t gold + 0.4% copper (0.8% copper equivalent) from 664 metres to
906 metres. More details about hole UTD-008 will be provided once drilling plans
are finalized on this new platform.
Barisan Gold remains well financed to advance the next stage of drilling at its
Upper Tengkereng gold-copper porphyry discovery.
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
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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.
FOR FURTHER INFORMATION PLEASE CONTACT:
Barisan Gold Corporation
Steven Feldman
Manager Investor Relations
+1 604 684 8676
info@barisangold.com
www.barisangold.com
Barisan Gold Corporation (TSXV:BG)
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