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Baru Gold has started construction of phase one of the Sangihe gold project in Indonesia

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Baru Gold’s focus will be on digging out the pregnant solution pond, constructing pond berms, and compacting to engineering specifications in preparation for installation of the leach pad liner and the processing facility.

Additional Information:

Company: Baru Gold Corp .
Website: http://www.BaruGold.com
Stock Symbol: TSXV: BARU
Date Published: Oct 6, 2021
Transcript: Available

Video Transcript:

I’m Ebony North for Investmentpitch Media

Baru Gold Corp, a mineral resource exploration company focused on developing producing precious metals projects in Indonesia, has started construction of phase one of the Sangihe gold project.

Sangihe is located on Sangihe Island, between the northern tip of Sulawesi Island, Indonesia and the south tip of Mindanao, Philippines.

Baru Gold holds a 70% in the mineral tenement which consists of one block covering the southern half of Sangihe Island, with three Indonesian companies holding the remaining 30% interest.

The term of the agreement is 30 years upon commencement of the production phase of the project.

Construction will consist of clearing land, building two 100,000 tonnes heap leach pads, pit overburden removal, preparation of waste dumps, a crushing facility, and a processing plant area including access roads.

The focus will be on digging out the pregnant solution pond, constructing pond berms, and compacting to engineering specifications in preparation for installation of the leach pad liner and the processing facility.

Baru COO Garry Kielenstyn and the Indonesian team are currently on site to supervise the engineering and contractor management, oversee site activities and keep costs in line and within budget.

Construction of the heap leach pad system is targeted to be completed and operational by December 2021, with first production gold pour in Q1 2022.

Terry Filbert, President and CEO, stated: “The successful start of construction of the pit, pads, and pond facilities is a tremendous milestone for our Sangihe project. Once operations are running smoothly and Sangihe starts generating reliable cashflow we will invest that cashflow to expand the resource through an extended exploration and drilling program. This will allow us to expand production and the mine’s life. We will provide further updates on the heap leach operations in the weeks to come.”

Sangihe has an existing NI 43-101 inferred mineral resource of 114,700 indicated and 105,000 inferred ounces of gold.

The company intends to proceed to production without the benefit of first establishing mineral reserves supported by a feasibility study.

Management believes that with sufficient funds on hand and strong retail and institutional shareholder support, the company is positioned to become Indonesia’s next gold producer.

The shares are trading at $0.10.

For more information on the company and its other gold project, which also has an indicated and inferred gold resource, please visit the company’s website, www.BaruGold.com, contact Terry Filbert, President and CEO, at 206-890-8285 or by email at info@barugold.com.

Investor Relations is handled by Kevin Shum of Jemini Capital, who can be reached at 647-725-3888 ext 702 or by email at kevin@JeminiCapital.com.

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I’m Ebony North for Investmentpitch Media