BG-V
Barisan Gold Mobilizes Second Drill Rig at Upper Tengkereng Prospect
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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