May 12, 2014
Barisan Gold Discovers Second High Grade Zone at Upper Tengkereng Gold-Copper Porphyry Discovery with 272 Metres of 0.6 G/T Gold & 0.6% Copper (1.0% Copper Equivalent) Intercept in Upper Part of Hole UTD-006
VANCOUVER, B.C. – May 12, 2014 — Barisan Gold Corporation (TSXV-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.
"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.
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.
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About Barisan Gold Corporation
Barisan Gold (BG-TSXV) 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.
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