Barisan Gold Commences Drilling Hole UTD-007 at Its Upper Tengkereng Gold-Copper Porphyry Discovery
May 08 2014 - 7:00AM
Marketwired
Barisan Gold Commences Drilling Hole UTD-007 at Its Upper
Tengkereng Gold-Copper Porphyry Discovery
VANCOUVER, BRITISH COLUMBIA--(Marketwired - May 8, 2014) -
Barisan Gold Corporation (TSX-VENTURE:BG) is pleased to announce
that drilling has now commenced at hole UTD-007 at its Upper
Tengkereng gold-copper porphyry discovery, located in the Province
of Aceh, Indonesia.
Hole UTD-007 is being drilled using the second drill rig
recently mobilized at site. UTD-007 is being planned 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. Due to topographical challenges, the new drill platform is
located 22 metres to northwest of the high-grade zone identified in
the eastern part of the Upper Tengkereng porphyry, which will allow
for a drill hole that is almost vertically inclined through the
high-grade zone.
The objectives of UTD-007 are to test the vertical true depth
and length of the high-grade zone. All three holes that have
intersected the high-grade zone to date have entered and exited the
high-grade zone on a horizontal axis. As such, no information has
so far been collected on how close to surface the high-grade zone
reaches or the true depth of the high-grade zone.
Based only on drill results received at UTD-002, UTD-003 &
UTD-005, the high-grade zone identified starts at approximately the
400-metre level true depth and ends at approximately the 700-metre
level true depth. It is approximately 100-metre wide and 400-metre
long on a northwest-southeast axis. The high-grade zone remains
open in all directions as well as at depth.
The following table summarizes the key intercepts of the
high-grade zone drilled to-date, detailed assays of which have
previously been released.
Hole |
From (m) |
To (m) |
Intercept (m) |
Gold (g/t) |
Copper (%) |
Gold Eq. (g/t) |
Copper Eq. (%) |
Intercepts located west and south of the post
mineral intrusive - barren zone |
UTD-002 |
576 |
596 |
20 |
0.90 |
0.26 |
1.33 |
0.80 |
UTD-003 |
276 |
292 |
16 |
0.70 |
0.31 |
1.22 |
0.74 |
UTD-005 |
444 |
472 |
28 |
0.83 |
0.26 |
1.27 |
0.77 |
Intercepts located east and north of the post
mineral intrusive - barren zone |
UTD-002 |
638 |
696 |
58 |
1.20 |
0.48 |
1.99 |
1.20 |
UTD-003 |
428 |
636 |
208 |
0.86 |
0.51 |
1.70 |
1.03 |
UTD-005 |
520 |
742 |
222 |
1.19 |
0.53 |
2.07 |
1.26 |
Intercept located at the north-eastern tip of the
high grade zone |
UTD-003 |
636 |
754 |
118 |
0.58 |
0.40 |
1.24 |
0.75 |
Gold equivalent and copper equivalent grades based on current
market prices and include molybdenum credits. |
Hole UTD-007 is planned to a minimum length of 700 metres and a
maximum length of 1,750 metres depending on how deep the high-grade
zone goes. Based on the drilling pace achieved at previous holes,
it is anticipated that UTD-007 will reach the 700-metre level by
the end of May 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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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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