Begins Exploration of 23 New Structural Study Targets February 14, 2022 – TheNewswire - Vancouver, BC - Baru Gold Corp (the “Company” or “Baru”) (TSXV:BARU) | (OTC:BARUF) is pleased to announce that it has commenced field analysis of the 23 new exploration targets identified in the structural study with some promising initial results.
Initial field analysis began with mapping and sampling of artisanal workings beyond the western boundary of the Priority 1 Kingston Target which has been named Kingston West and then progressed to the mapping and sampling of outcrops found within Kingston.
Assay results of the samples taken from the Kingston West Target returned an average gold grade of 1.84g/t and 2.89g/t for silver. Kingston West contains potential ore grade samples obtained from strongly oxidised quartz veins in tuffaceous andesite returning assays ranging from 0.83g/t – 5.57g/t for gold and 0.90g/t – 9.10g/t for silver.
Assay results from the samples taken from within the Kingston Target returned an average gold grade of 3.89g/t and 3.79g/t for silver. Kingston contains potential ore grade samples obtained from oxidised hydrothermal breccia with tuffaceous andesite and from strongly oxidised quartz veins in tuffaceous andesite returning assays ranging from 0.84g/t – 14.60g/t for gold and 1.70g/t – 13.10g/t for silver.
The 14.60g/t gold assay was obtained from a tuffaceous andesite containing a 0.73m wide strongly oxidised sheeted vein stockwork containing veinlets of quartz ranging from 0.5cm – 10cm wide. An example of the quartz veinlet is shown in Figure 1.
These initial sample results from the Kingston West and the Priority 1 Kingston Target areas have provided some ground truthing of the first of 23 New Exploration Targets defined by the structural study conducted by Murphy Geological Services.
Mr. Frank Rocca, Chief Geologist of Baru, commented, “These are exciting times for the exploration team as we seek to expand our knowledge of the CoW beyond the known Binebase-Bawone deposits for additional ore resources. I look forward to reporting the results of further Field Analysis by the exploration team in due course.”
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Figure 1. Quartz veinlet sample assayed as 14.60g/t Au & 4.00g/t Ag
ABOUT SANGIHE GOLD PROJECT
The Sangihe Gold Project (“Sangihe”) is located on the Indonesian island of Sangihe, off the northern coast of Sulawesi. Sangihe has an existing National Instrument 43-101 inferred mineral resource of 114,700 indicated and 105,000 inferred ounces of gold, as reported in the Company's "Independent Technical Report on the Mineral Resource Estimates of the Binebase and Bawone Deposits, Sangihe Project, North Sulawesi, Indonesia" (May 30, 2017). Readers are cautioned that mineral resources that are not mineral reserves do not have demonstrated economic viability. The Company intends to proceed to production without the benefit of first establishing mineral reserves supported by a feasibility study.
The Company's 70-percent interest in the Sangihe-mineral-tenement Contract of Work ("CoW") is held through PT. Tambang Mas Sangihe (“TMS”). The remaining 30-percent interest in TMS is held by three Indonesian corporations. The term of the Sangihe CoW agreement is 30 years upon commencement of the production phase of the project.
Baru has met all the requirements of the Indonesian government and has been granted its environmental permit. The Company has received approval for the upgrade of its licence to advance the Sangihe project to construction and production in 2022.
ABOUT BARU GOLD CORP.
Baru Gold Corporation is a dynamic junior gold developer with NI 43-101 gold resources in Indonesia, one of the top ten gold producing countries in the world. Based in Indonesia and North America, Baru’s team of mining and finance professionals boasts extensive experience in starting and operating small-scale gold and coal assets. With sufficient funds and strong retail and institutional shareholder support, Baru is positioned to become Indonesia’s next gold producer.
https://barugold.com/
https://www.thenewswire.com/press-releases/1kWVFY6ex-baru-gold-begins-exploration-of-23-new-structural-study-targets-with-promising-results-from-kingston-target.html