Apr 24, 2014
Barisan Gold Mobilizes Second Drill Rig at Upper Tengkereng Prospect
VANCOUVER, B.C. - April 24, 2014 - Barisan Gold Corporation (TSXV-BG) is pleased to announce that it is in the process of mobilizing a second drill rig to its Upper Tengkereng gold-copper porphyry discovery, located in the Province of Aceh, Indonesia.
Following successful drill results in the first five holes, Barisan Gold is accelerating the drill program at Upper Tengkereng by mobilizing a second drill rig to site. The second rig will test the numerous high-grade zones intersected to date as well as test a number soil geochemistry anomalies identified during surface mapping and sampling programs. In addition, the second drill rig will also test the large limestone cover lying to the east and north of the mineral intrusive for potential high grade copper-gold skarn mineralization and the hydrothermal breccia cover lying to the south of the diorite footprint.
"Bringing in a second rig allows us to accelerate the discovery and delineation of the Upper Tengkereng porphyry prospect," said Alex Granger, Chief Executive Officer of Barisan Gold. "As we are drilling deep holes of up to 1,750 metre depth at Upper Tengkereng, each hole is taking approximately two months to complete. By adding a second rig, we will increase our production rate to one hole completed every month, accelerating the definition of the mineralization and disclosure of assays. We anticipate a significant decrease in our already low drilling costs per metre as the addition of the second rig requires no additional fixed overhead costs and very limited additional flexible costs."
PT. Indodrill Indonesia, the current drilling operator at Upper Tengkereng, is in the process of moving a second rig to site, which has the same capacity (1,750 metres) as the current rig. The rig is schedule to arrive in the next two weeks and will immediately be put to use.
Barisan Gold will immediately begin prepping a new drill pad location where the second rig will shortly begin drilling hole UTD-007. The drill pad will be located across the highway drilling back in the opposite direction of holes UTD-002 and UTD-005 on the same axis. The objective of UTD-007 is to scissor cut the high-grade zone identified in holes UTD-002 and UTD-005 (190 metres of 1.3 g/t gold + 0.6% copper intersected in UTD-005) as well as attempt to determine both the true shallowness and true depth of the high-grade zone. UTD-007 will be drilled at a very steep angle, over 85 degrees incline, in an attempt to get a sense of the vertical width of the high-grade zone. An updated map is available on the Barisan Gold website (www.barisangold.com/barisanporphyry/uppertengkereng) that shows the positioning and direction of UTD-007.
Work continues on the mapping and sampling program of the limestone cover located to the east and north of the mineral intrusive. Once the campaign is completed and results are compiled, it is expected that one of the two rigs will be moved to a new drill pad to be located atop the limestone to start drilling high probability skarn prospects. Drilling atop the limestone should begin in two-to-three months time.
Separately, drilling continues at Upper Tengkereng. Hole UTD-006, which is being drill with an azimuth of 267 degrees and an inclination of 75 degrees, had reached a length of 862 metres as of April 22, 2014. The hole is fully mineralized from surface to the current position of the hole and so far no barren zones have been intersected. From 140 metres to 280 metres, UTD-006 intersected similar looking quartz-alunite mineralization intersected in hole UTD-002, which returned 114 meters at 0.3 g/t gold + 0.7% copper (0.9% copper equivalent at current market prices) from 226 metres to 340 metres in length. UTD-006 continues to be planned to a length of 1,500 metres and is chasing a high-grade target associated with a high copper-gold soil geochemistry anomaly in the western part of the mineralized intrusion.
Dibiansyah Hamid, MAIG, the designated QP within the meaning of NI 43-101, has reviewed and approved the content 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.
You can view the Next News Releases item: Thu May 8, 2014, Barisan Gold Commences Drilling Hole UTD-007 at its Upper Tengkereng Gold-Copper Porphyry Discovery
You can view the Previous News Releases item: Mon Mar 31, 2014, Barisan Gold Intersects 190 Metres of 1.3 G/T Gold & 0.6% Copper (1.4% Copper Equivalent) within 348 Metres of 0.9 G/T Gold & 0.4% Copper (1.0% Copper Equivalent)
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