VANCOUVER, BRITISH COLUMBIA--(Marketwired - Mar 3, 2014) - Barisan Gold Corporation (TSX VENTURE:BG) is pleased to provide investors with an update on drilling activities at its Upper Tengkereng porphyry prospect, located in the Province of Aceh, Indonesia.
Barisan Gold commenced drilling of Hole UTD-005 on January 29, 2014. Hole UTD-005 is being drilled with an azimuth of 55 degrees and an inclination of 78 degrees. As of February 28, 2014, drilling had reached 836 metres in length, ahead of the schedule provided in the January 29, 2014 press release. Although no assays have yet to be received on UTD-005, Barisan Gold is extremely satisfied with the results to date. UTD-005 has so far matched our geological model for the eastern part of the Upper Tengkereng prospect, hence increasing our confidence of the geological continuity at Upper Tengkereng. Furthermore, the higher-grade zone forecast to be intersected from 525-675 metres seems to have been extended further to the current depth of 836 metres and seems to continue at depth. High-resolution pictures of the tray cores for the higher-grade zone between 542-762 metres are available on the Barisan Gold website (http://www.barisangold.com/photogallery/uppertengkereng).
The following table presents the visual interpretation of UTD-005 up to the 836-metre mark.
|Length||Rock Type||Mineralization (Visual Interpretation Only)|
|0 - 5 m||Soil||- -|
|5 - 74 m||Advanced Argillic-Argillic, Hydro Breccia||Chalcocite: 0.2-0.3%, Chalcopyrite: 0.2-0.3%|
|74 - 82 m||Argillic, Hornblende Feldspar Porphyry||Chalcopyrite: 0.3%|
|82 - 125 m||Argillic, Hydro Breccia||Chalcopyrite: 0.2%|
|125 - 259 m||Propylitic, Hornblende Diorite||- -|
|259 - 268 m||Advanced Argillic-Argillic, Hydro Breccia||Chalcocite: 0.1%, Chalcopyrite: 0.1%|
|268 - 304 m||Argillic, Hornblende Feldspar Porphyry||Chalcopyrite: 0.1-0.4%|
|304 - 324 m||Advanced Argillic-Argillic, Feldspar Porphyry||Chalcocite: 0.3%|
|324 - 342 m||Advanced Argillic-Argillic, Hornblende Feldspar Porphyry||Chalcocite: 0.1%, Chalcopyrite: 0.2%|
|342 - 378 m||Phyllic, Feldspar Porphyry||Chalcocite: 0.3-0.4%|
|378 - 430 m||Phyllic, Hornblende Feldspar Porphyry||Chalcocite: 0.2%|
|430 - 453 m||Phyllic-Argillic, Feldspar Porphyry/Hydro Breccia||Chalcocite: 0.2-0.3%, Chalcopyrite: 0.2-0.3%|
|453 - 471 m||Advanced Argillic-Phyllic, Feldspar Porphyry||Chalcocite: 0.3-1.0%, Chalcopyrite: 0.3-0.5%|
|471 - 526 m||Propylitic, Hornblende Diorite||- -|
|526 - 638 m||Argillic-Phyllic, Feldspar Porphyry||Chalcocite: 0.3-0.5%, Chalcopyrite: 0.3-1.0%|
|638 - 710 m||Chlorite-Sericite/Potassic, Feldspar Porphyry||Chalcocite: 0.3%, Chalcopyrite: 1.5-2.0%|
|710 - 836 m||Chlorite-Sericite/Potassic, Equigranular Diorite||Chalcopyrite: 0.6-2.0%|
In addition, UTD-005 has yet to intersect any limestone contact zone, which we predicted would be intersected at the 750-metre mark if it had been vertically dipping. This means that the limestone contact zone is either diagonally dipping away from the deposit or horizontally lying closer to surface.
Although UTD-005 was planned to a final length of 750 metres, Barisan Gold intends on pursuing UTD-005 until the earlier of (i) hitting the limestone contact zone, (ii) drilling out of porphyry mineralization and (iii) reaching the design capacity of the rig, which is 1,750 metres.
In other news, Barisan Gold has received the final assays for UTD-004. There were no new meaningful higher-grade intercepts in the final section from 986 to 1,465 metres. UTD-004 ended up with 1,459 metres of 0.3g/t gold + 0.2% copper, including 30 metres of 1.2g/t gold + 0.4% copper and 202 metres of 0.7g/t gold + 0.4% copper + 0.01% molybdenum. UTD-004 was fully mineralized 6 metres from surface until the end of the hole at 1,465 metres.
Barisan Gold retained the laboratory services of PT Intertek Utama Services of Jakarta, Indonesia, which, in the case of UTD-004, 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.