Barisan Gold intersects 262 meters of 1.0% copper equivalent at Upper Tengkereng prospect

By Ruli Setiawan

Vancouver-based Barisan Gold Corporation said it has completed the initial drilling program at its Upper Tengkereng prospect in Aceh Province, Indonesia.

The company said in a statement made available on Tuesday that the drilling of hole UTD-003 was completed on October 4 to a depth of 922 meters and final assays have been received.

The statement provides the following details.

Porphyry mineralization was intersected in UTD-003 from 18 meters to the end of the hole at 922 meters. UTD-003 validated the geological model of the Upper Tengkereng porphyry prospect by confirming the width and depth of the high grade zone identified in hole UTD-002. UTD-002, drilled in December 2010, intersected a 59-meter interval grading 1.21 g/t gold + 0.48% copper (2.0g/t gold equivalent or 1.2% copper equivalent) at the bottom of its hole.

At the same depth and area, UTD-003 intersected important copper and gold mineralization, including a 262-meter interval grading 0.81 g/t gold + 0.49% copper (1.6g/t gold equivalent or 1.0% copper equivalent).

UTD-003 has significantly increased the width of mineralisation along a southeast-northwest direction on the north-eastern edge of the system, further validating the mineralization intersected in UTD-002.

"We are very pleased with this first hole of the new drill program," said Alex Granger, Chief Executive Officer of Barisan Gold. "We have validated one of the highest-grade porphyry discoveries anywhere in the world of the past decade. There are very few new porphyry discoveries that have returned intercepts of 1% copper equivalent over more than 250 meters. This is even more impressive by the fact that we have not yet drilled down to the potassic zone and associated bornite mineralization of the Upper Tengkereng porphyry system where higher grades are usually intersected. The grades we are intersecting higher up in this system are higher than those that other recent discoveries have found in bornite rich mineralization within potassic zones."

Drilling of hole UTD-004, began on October 24, 2013. UTD-004 is being drilled from the same drill platform as UTD-003 with an azimuth of 290 degrees and an inclination of 75 degrees. UTD-004 is designed to test the center of the surface identified diorite intrusive, which has yet to be targeted by the first three holes.

In addition, the steep inclination of the hole is meant to try to target the potassic core mineralization of the porphyry prospect at depth, where grades are anticipated to be higher. UTD-004 is planned to a depth of 1,400 metres and, should it reach that depth, is likely to be completed by the end of the year with assays available early in the New Year. As of today, UTD-004 has reached a length of 192 meters and is fully mineralized starting at 6.6 meters from surface to the current point.

Barisan Gold is also currently in the process of planning, approving and building a 130 meter road from the current drill platform to an area where the next drill platform will be built. The road and new drill platform are expected to be completed by year end. The following few holes will be drilled from that platform, which will have the advantage of being located closer to the middle of the deposit rather than on its eastern edge like the first two drilling platforms. An updated map of Upper Tengkereng, including the locations of UTD-003, UTD-004 as well as the proposed road and new drill platform is available on Barisan Gold's.

Barisan Gold remains well financed to advance drilling at its Upper Tengkereng prospect with an estimated $3.6 million of cash on hand at end as at September 30, 2013, the company said.

Editing by Reiner Simanjuntak