News & Press Releases
Batero Extends Continuity of Higher Grade Core of Oxidized Gold Mineralization
Vancouver, British Columbia, March 8, 2016
Batero Gold Corp. ("Batero", "the Company") [TSX-V:BAT] is pleased to report results from the holes drilled at the La Cumbre deposit ("La Cumbre") at the Company's 100% owned Batero-Quinchia project ("the Project") located in Risaralda, Colombia. These 11 holes represent 36% of the Company's planned 2015/2016 infill drill program.
La Cumbre Near Surface Drill Highlights
- DDH-ZO-011: 106.9 m grading 1.47 g/t gold and 2.34 g/t silver from 4.5 m to 111.4 m
- including 17.5 m grading 2.05 g/t gold and 0.72 g/t silver from 4.5 m to 22.0 m
- DDH-ZO-004: 22.3 m grading 1.19 g/t gold and 1.25 g/t silver from 3.7 m to 26 m
- DDH-ZO-005: 35.5 m grading 1.02 g/t gold and 5.33 g/t silver from 2.5 m to 38.0 m
- DDH-ZO-009: 37.4 m grading 0.81 g/t gold and 2.96 g/t silver from 4.6 m to 42 m
Program Overview
The 2015/2016 infill drill program was initiated after receipt of a gap analysis from Heap Leach Consulting SAC outlining steps required to move towards a production decision on the higher grade central portion of the La Cumbre deposit. Prior to drilling, 9,593 meters of drill core were re-logged and an updated geological model was completed.
Drill Program Statistics
- Total planned: 30 infill drill holes / 3,000 metres
- Completed to date: 11 drill holes / 907.95 metres (results reported here)
- Completed, awaiting results: 12 additional drill holes
- Performance: Completed on time and under budget
- Core re-logging: 9,593 meters completed prior to drilling
The infill drill results at La Cumbre continue to outline additional volumes of higher grade oxidized gold mineralization in the deposit's core which grades in excess of 1.0 g/t gold and occurs near and at surface. Infill drill results also extend the trend of La Cumbre's higher grade core to the south. The 11 holes reported here total 907.95 metres and are located within a 530 metre northwest-southeast striking zone of continuous gold mineralization that starts at surface.
CEO Commentary
"We are pleased that the results from our 2016 drill program continue to outline grades of over 1+ g/t gold in the large continuous zones of mineralization at La Cumbre," stated Felipe Ferraro, Batero's President and Chief Executive Officer. "These positive drill results serve as encouraging signs for the future of the Batero-Quinchia project."
Drill Program Objectives
The 2015/2016 development drill program was designed to:
- (i) Infill the areas of interpolated higher grade mineralization along a northwest-southeast trending corridor
- (ii) Step out to the northwest and southeast to extend the areas of interpolated higher grade mineralization
- (iii) Step out to the north of La Cumbre towards the El Centro zone to test near surface higher grade linkage between the deposits
The drill holes were sited to provide both geological and geotechnical information including definition of the oxide, transition and sulphide zone depths.
Table 1 - Drill Hole Results
| HOLE ID | From (m) | To (m) | Thickness (m)* | Au (g/t) | Ag (g/t) | Comments |
|---|---|---|---|---|---|---|
| DDH-ZO-001 | ||||||
| 0.80 | 73.20 | 72.40 | 0.34 | 1.85 | ||
| 0.80 | 21.40 | 20.60 | 0.41 | 1.72 | Oxide Zone | |
| 0.80 | 12.00 | 11.20 | 0.48 | 1.46 | including | |
| 21.40 | 45.00 | 23.60 | 0.33 | 2.28 | Transition Zone | |
| DDH-ZO-002 | ||||||
| 1.90 | 100.00 | 98.10 | 0.68 | 2.58 | Gold grains visible in drill core | |
| 1.90 | 45.40 | 43.50 | 0.78 | 3.04 | Oxide Zone | |
| 45.40 | 54.60 | 9.20 | 0.73 | 3.15 | Transition Zone | |
| DDH-ZO-003 | ||||||
| 2.20 | 91.00 | 88.80 | 0.64 | 1.52 | ||
| 2.20 | 35.60 | 33.40 | 0.97 | 1.27 | Oxide Zone | |
| 3.70 | 26.00 | 22.30 | 1.19 | 1.25 | DDH-ZO-004 Highlight | |
| 2.50 | 38.00 | 35.50 | 1.02 | 5.33 | DDH-ZO-005 Highlight | |
| 4.60 | 42.00 | 37.40 | 0.81 | 2.96 | DDH-ZO-009 Highlight | |
| DDH-ZO-011 | 4.50 | 111.40 | 106.90 | 1.47 | 2.34 | Thickest section |
| 4.50 | 22.00 | 17.50 | 2.05 | 0.72 | High-grade zone | |
* Thickness is the downhole thickness of the intersection and is not a true width. There is currently insufficient information to determine the true widths of the intersections.
Next Steps
Batero is working towards the preparation of an updated resource estimate focused on La Cumbre's high grade oxidized gold mineralization at surface as the basis of a comprehensive technical report. The high grade core at La Cumbre is expected to improve both the average grade and contained ounces as the +1 g/t grade is well above the average grade of the oxide mineral resource estimate previously reported.
Development Plans
- Evaluating most efficient and cost effective mine scenario
- Assessing leach processing circuit options
- Determining optimum starter pit production rate
- Including transition zone in evaluation (not in initial oxide resource)
- Advancing engineering, EIA, archaeological and social baseline studies
- Initiating hydrogeological study for future environmental permits
Batero is focused on accelerating the La Cumbre deposit towards a development decision. Engineering, environmental impact assessment, archaeological studies and social baseline studies are all sufficiently advanced to support any development option.
Quality Assurance/Quality Control
Core is collected, logged (geological & geotechnical), cut and sampled at Batero Gold's drilling camp at the project area. Core samples are bagged and securely stored before shipment to ALS Minerals' sample preparation facilities in Medellin, Colombia. Prepared samples are then shipped to ALS Minerals' analytical facilities in Lima, Peru for analyses. Gold is analyzed by atomic absorption following fire-assay of a 50 gram aliquot sample.
The Company's QA/QC program includes the regular insertion of blanks, multiple certified assay standards and duplicate samples into the sample shipments. These QC samples are inserted in every assay batch with approximately 12% QC samples. A third party check laboratory receives 5% of all samples to verify the original assay analyses.
Qualified Person
Roger Moss, Ph.D., P.Geo., Consultant to Batero Gold, is the qualified person as defined by National Instrument 43-101 and has reviewed and approved the technical information provided in this news release.
📅 PDAC Exhibition
Batero Gold Corp will be exhibiting at PDAC on March 8th and 9th. Please visit booth 3129 in the Investors Exchange Area.
ON BEHALF OF THE BOARD OF BATERO GOLD CORP.
Felipe Ferraro
President & CEO
Batero Gold Corp.
For further information, please contact:
Batero Gold Corp.
Tel: 604.568.6378 or
Email: info@baterogold.com
About Batero
Batero is a precious and base metals exploration and development company focused on moving the La Cumbre oxide deposit toward a production decision. Once the appropriate level of study has been completed, Batero intends to target the near surface higher grade oxidized gold mineralization at the deposit. Batero is also pursuing opportunities to acquire prospective high-grade, production focused mineral properties in Colombia and Latin America. Common shares of the company trade on the TSXV under the symbol "BAT".
Forward-Looking Statements
This news release includes forward-looking statements that are subject to risks and uncertainties. Although Batero believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in forward-looking statements.
Factors that could cause actual results to differ materially include market prices, exploitation and exploration successes, continued availability of capital and financing, and general economic, market or business conditions. This news release does not constitute an offer to sell or a solicitation of an offer to sell any securities in the United States.
Neither the 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.