BARU GOLD Continues Exploration of 23 New Structural Study Targets at Rome and Canberra East and Samples up to 72.0 G/T GOLD and 97.0 G/T Silver over 0.15 Meters at Rome Target
News Release
March 9, 2022 Trading Symbol: “BARU: TSX.V | BARUF: OTCQB”
BARU GOLD CONTINUES EXPLORATION OF 23 NEW STRUCTURAL STUDY
TARGETS AT ROME AND CANBERRA EAST AND SAMPLES UP TO 72.0 g/t GOLD
AND 97.0 g/t SILVER OVER 0.15 METERS AT ROME TARGET
Vancouver, BC - Baru Gold Corp (the “Company” or “Baru”) is pleased to announce that
the continuing field analysis of the 23 new exploration targets identified in the s tructural
study has provided promising results.
Initial Field Analysis continued with mapping and sampling of artisanal workings and
outcrops found within the Priority 1 Rome Target area. The analysis then progressed to
mapping and sampling beyond the eastern boundary of the Priority 1 Canberra Target,
which has been named Canberra East.
Assay results of the samples taken from the Rome Target returned an average grade of
42.18g/t gold and 48.42g/t silver. The Rome Target contains samples obtained from
strongly oxidised 0.15m and 0.2m wide quartz veins in tuffaceous andesite returning
assays ranging from 41.9g/t – 72.0g/t for gold and 5.30g/t – 97.0g/t for silver.
At the Rome Target, the 72.0g/t gold assay was obtained from a tuffaceous andesite
containing a 0.15m wide strongly oxidised quartz vein which is shown in Figure 1.
Assay results from the samples taken from within the Canberra East Target returned an
average grade of 2.42g/t gold and 5.27g/t silver. The Canberra East samples were
obtained from strongly oxidised silica, alunite, pyrite breccia and from strongly oxidised
silica clay altered tuffaceous rocks returning assays ranging from 0.31 g/t – 5.88g/t for
gold and 0.80g/t – 20.70g/t for silver.
These initial sample results from the Priority 1 Rome Target and the Canberra East areas
have provided some further ground truthing of the 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 expand our knowledge of the CoW beyond the known Binebase -
Bawone deposit s and locate these outcrops which could develop into additional ore
resources. I look forward to reporting the results of further Field Analysis by the
exploration team in due course.”
Baru Gold Corporation
9th Floor 1021 West Hastings St
Vancouver, BC V6C 1L6
www.barugold.com
Figure 1. Quartz vein 0.15m wide in situ assayed as 72.0g/t Au & 90.4g/t Ag
Drilling Progress Update
Baru announced a 25,000- meter drilling program to test various targets identified in the
Sangihe 2010 National Instrument 43-101 report which identified 835,000 ounces of gold
as an inferred resource between Binebase and Bawane villages over 1.2 kilometers. To
date the Company has prepared 27 drill pads.
The drill rig arrived on the island on December 20, 2021 and preparations were made to
commence drilling immediately. However, due to logistical problems encountered
enroute to the site , the drill rig was returned to the drilling contractor. Currently, a ll but
one final component of the drill rig is on- site which will be delivered as soon as suitable
transportation is secured.
The Company has met all the requirements of the Indonesian government and has been
granted its environmental permi t and the upgrade of its licence to advance the Sangihe
project to construction and production in 2022. All permits for transportation of the final
drill rig component have been secured and the Company is ready to st art drilling
immediately upon delivery of the final component.
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
0.15m
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 suppor ted
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 t erm of the Sangihe CoW
agreement is 30 years upon commencement of the production phase of the project.
Note: The Company cautions readers that the any production decision made by the Company
will not be based on a NI 43-101 feasibility study of mineral reserves that demonstrates economic
and technical viability and as such, there may be involved increased uncertainty and various
technological and economic risks such as 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; general market and mining
exploration risks and production and economic risks related to design and engineering,
manufacturing, technological processes and test procedures and the risk that the pr oject's output
will not be salable at a price that will cover the project's operating and maintenance costs.
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 ins titutional shareholder support, Baru is positioned to
become Indonesia’s next gold producer.
Frank Rocca, BAppSc.(Geology), MAusIMM, MAIG, CPI -KCMI, Chief Geologist of
Baru Gold Corp. is the Qualified Person as defined under NI 43 -101 who has reviewed
and approves the content of this release.
BARU GOLD CORP
Per: “Terry Filbert”
Terry Filbert, Director
President & CEO
+1-206-890-8285
For investor contacts more information, please contact:
Kevin Shum
Investor Relations
647-725-3888 ext 702
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.
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, 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; general market and mini ng exploration risks and production and economic risks related to design and
engineering, manufacturing, technological processes and test procedures and the risk that the project’s output will not
be salable at a price that will cover the project’s operati ng and maintenance costs. 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.