Barisan Gold intersects gold, copper at hole UTD-008 in Upper Tengkereng
Tuesday, July 22 2014 - 01:09 AM WIB
TSX-listed Barisan Gold Corporation announced Monday the second tranche of assay results for hole UTD-008 at its Upper Tengkereng gold-copper porphyry discovery, located in the Province of Aceh.
The company provides details of the results in the following statement.
Assays have now been received from the first 600 metres of hole UTD-008 with the first 400 metres disclosed in the company's press release dated June 23, 2014. UTD-008 was drilled parallel to UTD-002 but in an opposite direction, scissor crossing that hole, with an azimuth of 235 degrees and an inclination of 80 degrees from the same drill platform as UTD-005 & UTD-006. UTD-008 was completed on July 6, 2014 at a final length of 994 metres.
Hole UTD-008 is mineralized 4 metres from surface and, as a whole, is the highest-grade hole drilled so far at Upper Tengkereng averaging over 0.9% copper equivalent (1.5g/t gold equivalent) over its entire length to-date. From 188 to 600 metres, UTD-008 returned 412 metres of 0.7g/t gold + 0.7% copper (1.1% copper equivalent at current market prices). High-grade mineralization remains open down hole at a depth below 600 metres with the final 32 metres of the intercept (from 568 to 600 metres) returning 0.9 g/t gold + 0.6% copper (1.2% copper equivalent at current market prices).
The mineralization in hole UTD-008 can be generally characterized as follows: (a) from 4 to 188 metres, top layer of advanced argillic altered hydro breccia mineralization, (b) from 188 to 464 meters, high-grade covellite rich silica-pyrophyllite-alunite mineralization and (c) from 464 to 600 metres, high-grade chalcocite-chalcopyrite mineralization. Hole UTD-008 has validated the high-grade zone initially intercepted in holes UTD-002 and UTD-006. Drilling to-date indicates this zone lies very close to surface (within 100 metres) and has a higher copper-to-gold ratio than the first high-grade zone discovered at depth in the eastern part of the deposit. This high-grade zone now covers an area of 100m x 100m at surface based on the three holes drilled to-date and is open in all directions.
Drilling has commenced at hole UTD-009, which is seeking to identify the width of the high-grade zone on a north-south axis as all three holes so far have been drilled on an east-west axis.
"Hole UTD-008 continues to return spectacular assays," said Alex Granger, Chief Executive Officer of Barisan Gold. "This 400+ metre intercept at 1.1% copper equivalent is twice the length of the previous longest intercept above 1% copper equivalent returned in the first seven holes at Upper Tengkereng. We now have a significantly large high-grade zone that sits right at surface and remains open in all directions. Hole UTD-009 will seek to add a third dimension, on a north-south axis, to what has currently been delineated. UTD-009 has the potential to significantly grow the size of this high-grade zone."
Following completion of UTD-008, the rig was moved approximately 50 metres to the south to a newly built drill platform from which UTD-009 is currently being drilled (see updated maps and charts in the investor presentation on the Barisan Gold website). UTD-009 is being drilled with an azimuth of 302 degrees and a dip of 50 degrees. Hole UTD-009 is the first hole to be drilled on a north-south axis into the high-grade zone validated in hole UTD-008. The objective of hole UTD-009 is to test the width of the high-grade covellite rich silica-pyrophyllite-alunite mineralization on a north-south basis. As the covellite rich zone sits within 500 metres from surface, UTD-009 is being drilled with a shallow dip, in an attempt to test the true width of the zone without exiting it vertically.
Drilling at hole UTD-009 began on July 11, 2014. As of July 19, 2014, UTD-009 had reach 239 metres in length and visual indications are that it entered the high-grade covellite rich zone from approximately the 50-metre mark, which continues until the current position. If this is confirmed through assays, it will have intersected the high-grade zone 100 metres closer to surface than in previous holes.
Later this week, the company anticipates to disclose initial assays for hole UTD-007, which was recently completed, as well as give an update on drilling at hole UTD-010. It should be noted that drilling is expected to be suspended at Upper Tengkereng from approximately July 27, 2014 to August 3, 2014 so that Barisan Gold's Indonesian employees can celebrate the Idul Fitri holiday with their respective families.
Barisan Gold retained the independent laboratory services of PT Intertek Utama Services of Jakarta, Indonesia, which, in the case of UTD-008, employed the fire assay method (FA50) on gold samples and for other precious and base metal analyses, ICP with multi acid digestion.
Editing by Reiner Simanjuntak