Batero Gold Expands Higher Grade Core of Oxidized Gold Mineralization at La Cumbre
13 Septembre 2012 - 2:30PM
Marketwired Canada
Batero Gold Corp. ("the Company") (TSX
VENTURE:BAT)(PINKSHEETS:BELDF)(FRANKFURT:68B) is pleased to report initial drill
results from the 2012 development drill program at the La Cumbre deposit ("La
Cumbre") at the Company's 100% owned Batero-Quinchia project ("Project") located
in Risaralda, Colombia. The initial drill results at La Cumbre outline gold
grades greater than 1.0 g/t gold from near surface in the central core area of
the deposit and all drill holes reported in this release end in significant gold
mineralization.
Drill Highlights:
-- Drill Hole LC036: from 3.40 metres to 100.00 metres (end of hole)
grading 1.14 g/t gold and 2.37 g/t silver
-- Drill Hole LC037: from 2.60 metres to 100.00 metres (end of hole)
grading 1.00 g/t gold and 1.87 g/t silver
-- Drill Hole LC039: from 3.15 metres to 170.00 metres (end of hole)
grading 0.91 g/t gold and 2.17 g/t silver
See Figure 1 at the end of this release for Plan View Map of 2012 Drill Hole
Locations.
See Table 1 for 2012 Drill Hole Results and Table 2 for Drill Hole Specifications.
The Company is evaluating the most efficient and cost effective mine scenario,
including a leach processing circuit and the optimum starter pit production rate
from the near and at surface higher grade mineralization of the Oxide and
Transition zones at the La Cumbre deposit.
"We are pleased that multiple drill holes indicate an expansion of the 1+ g/t
gold core that occurs within large, continuous zones of near and at surface
oxide gold mineralization. Hole LC036 has an average grade of over 1.00 g/t gold
with significant intercepts averaging between 1.30 g/t gold and 1.45 g/t gold.
In addition, other drill holes reported have encountered higher grade
structurally controlled zones averaging over 2.00 g/t gold," stated Mr. Brandon
Rook, President and CEO of the Company. "Today, there is a surface expression
that the Company is targeting as a potential leachable production scenario that
is approximately 600 metres long by 200 metres wide and up to 200 metres deep.
These recent drill results have the potential to enhance our evaluation of the
optimum production scenario at La Cumbre."
The mineral resources at La Cumbre will be modelled and potentially upgraded to
the measured and indicated resource category if supported by results at the end
of the current drill campaign. The Company is focused on aggressively fast
tracking the Project to be in a position to make a production decision.
Engineering, environmental impact assessment, archaeological studies, and social
baseline studies are currently well advanced to support any development option
at La Cumbre.
To date, the 2012 drill program has completed 29 holes of 35 holes
(approximately 4,100 metres of 5,100 metres); drilling is expected to be
completed by the end of September, 2012. The drill hole lengths vary from 100
metres vertical to approximately 200 metres vertical. Seven drill holes are
reported in this release.
La Cumbre Deposit Highlights:
-- Greater than 1.0 g/t gold intercepts occur within the Oxide Zone of gold
mineralization that extends from surface to a depth of up to 70 metres
and in the underlying Transition Zone that exists over a vertical
distance of 150 metres to 250 metres
-- Metallurgical bottle role testing in 2012 yielded gold recoveries of 93%
and 94% for mineralization in the Oxide Zone and recoveries from 82% to
86% in the Transition Zone
-- Step out drilling is testing for extensions of the trend of near surface
gold mineralization along a northwest-southeast corridor
-- The current drill program is part of the 2012-2013 work program designed
to evaluate a cost effective mine development plan for the higher grade
oxidized mineralization at La Cumbre
-- The topography of the near and at surface mineralization suggests a low
strip ratio
-- The Company has 100% ownership of surface rights over La Cumbre Deposit
-- La Cumbre is one of three gold porphyry deposits at the Project
-- 70% of the Project area remains untested
The drill holes reported in this release were designed to delimit the higher
grade core to the north and infill the core of the higher grade sector of the La
Cumbre deposit to 50 metre centres and potentially increase the average grade of
mineralization. These initial holes cover an area striking 150 metres NW-SE by
100 metres NE-SW across the diorite - magmatic breccia contact zone.
-- LC036 is located 50 metres west of QAP009 (213.7 m @ 1.11 g/t Au) and
confirms an average grade of over 1.00 g/t gold with significant
intercepts averaging between 1.30 g/t gold and 1.45 g/t gold
-- LC037 is 50 metres NW of LC036 and 30 metres west of LC012 (113 m @ 0.74
g/t Au) and confirms the presence of near surface gold grades of over
1.00 g/t gold as well as encountering a higher grade zone at the end of
the drill holes programmed depth
-- LC038 is approximately 100 metres SW of LC037 and 30 metres west of
LC010 (90.7 m @ 0.84 g/t Au) confirming similar overall gold grades
while encountering higher grade structurally controlled zones of over
2.00 g/t gold
-- LC039 is 90 metres NW of LC038 and 25 metres south of LC007 (203.1m @
0.81 g/t Au) and expands the volume of known +1.00 g/t gold material;
similar to LC038 this hole also terminates in gold grades over 1.50 g/t
gold
-- LC040 is approximately 40 metres north of LC033 (22m @ 0.54 g/t Au) and
50 metres east of LC032 (377 m @ 0.51 g/t) and confirms similar grades
but ends in mineralization grading over 1.00 g/t gold
-- LC042 is on the north side of the La Cumbre deposit adjacent to the
Amarilla Structural Corridor approximately 50 metres to the northeast of
QAP016 (160 m @ 0.97 g/t Au) and confirms +1.00 g/t gold porphyry style
mineralization that shows intervals of structurally controlled
mineralization up to 2.89 g/t gold over 4.4 metres
-- LC043 is approximately 75 metres northwest of LC040 and suggests the
edge of the structurally controlled overprint of the Cumbre porphyry
system at the northwest edge of the deposit
All holes confirmed stockwork style control on mineralization within the
potassic alteration zone of the diorite-magmatic breccia for this high grade
zone.
Table 1 - Initial 2012 Drill Hole Results
----------------------------------------------------------------------------
From To Interval Au Ag Cu
Drill Hole (m) (m) (m) (g/t) (g/t) (%)
----------------------------------------------------------------------------
----------------------------------------------------------------------------
LC036 3.40 100.00 96.60 1.14 2.37 0.16
----------------------------------------------------------------------------
including 26.40 56.00 29.60 1.38 3.38 0.14
----------------------------------------------------------------------------
including 63.50 74.00 10.50 1.44 3.18 0.27
----------------------------------------------------------------------------
including 84.80 100.00 15.20 1.32 2.63 0.26
----------------------------------------------------------------------------
----------------------------------------------------------------------------
LC037 2.60 100.00 97.40 1.00 1.87 0.15
----------------------------------------------------------------------------
including 2.60 16.50 13.90 1.25 3.36 0.24
----------------------------------------------------------------------------
including 44.50 50.00 5.50 1.09 4.35 0.33
----------------------------------------------------------------------------
including 58.20 82.00 23.80 0.64 1.64 0.14
----------------------------------------------------------------------------
including subinterval 62.30 74.00 11.70 1.31 1.87 0.18
----------------------------------------------------------------------------
including 86.00 96.00 10.00 1.41 2.34 0.19
----------------------------------------------------------------------------
----------------------------------------------------------------------------
LC038 0.00 150.00 150.00 0.71 2.50 0.16
----------------------------------------------------------------------------
including 3.50 13.40 9.90 0.77 0.31 0.09
----------------------------------------------------------------------------
including 19.90 50.70 30.80 0.71 2.74 0.18
----------------------------------------------------------------------------
including subinterval 36.90 41.00 4.10 1.10 3.63 0.27
----------------------------------------------------------------------------
including 55.00 116.70 61.70 0.84 3.06 0.18
----------------------------------------------------------------------------
including subinterval 65.50 69.50 4.00 1.03 3.58 0.17
----------------------------------------------------------------------------
including subinterval 77.50 83.50 6.00 1.43 4.36 0.23
----------------------------------------------------------------------------
including subinterval 106.70 108.70 2.00 2.15 3.55 0.26
----------------------------------------------------------------------------
including 128.70 150.00 21.30 0.70 2.65 0.18
----------------------------------------------------------------------------
including subinterval 146.70 150.00 3.30 1.14 3.67 0.25
----------------------------------------------------------------------------
----------------------------------------------------------------------------
LC039 3.15 170.00 166.85 0.91 2.17 0.14
----------------------------------------------------------------------------
including 18.00 26.00 8.00 1.04 0.48 0.04
----------------------------------------------------------------------------
including 30.00 38.00 8.00 1.00 1.84 0.13
----------------------------------------------------------------------------
including 42.00 45.00 3.00 1.73 2.37 0.12
----------------------------------------------------------------------------
including 66.00 82.00 16.00 1.04 1.89 0.17
----------------------------------------------------------------------------
including 99.00 106.00 7.00 1.07 1.27 0.07
----------------------------------------------------------------------------
including 112.00 120.00 8.00 1.42 3.75 0.18
----------------------------------------------------------------------------
including 131.00 147.50 16.50 1.02 5.95 0.37
----------------------------------------------------------------------------
including 165.00 170.00 5.00 1.60 4.07 0.21
----------------------------------------------------------------------------
----------------------------------------------------------------------------
LC040 3.00 93.00 90.00 0.62 1.72 0.09
----------------------------------------------------------------------------
including 5.90 13.90 8.00 1.03 1.06 0.08
----------------------------------------------------------------------------
----------------------------------------------------------------------------
LC042 4.00 100.00 96.00 0.74 1.03 0.09
----------------------------------------------------------------------------
including 4.00 33.00 29.00 0.76 1.14 0.09
----------------------------------------------------------------------------
including 47.00 49.00 2.00 1.06 1.25 0.08
----------------------------------------------------------------------------
including 57.80 100.00 42.20 0.96 1.11 0.11
----------------------------------------------------------------------------
including subinterval 61.50 65.90 4.40 2.89 1.99 0.11
----------------------------------------------------------------------------
including subinterval 81.00 83.00 2.00 1.14 0.91 0.16
----------------------------------------------------------------------------
including subinterval 89.00 93.00 4.00 1.23 1.49 0.16
----------------------------------------------------------------------------
----------------------------------------------------------------------------
LC043 9.00 95.00 86.00 0.28 0.86 0.05
----------------------------------------------------------------------------
including 15.00 21.20 6.20 0.64 0.64 0.06
----------------------------------------------------------------------------
(i)Interval length represents downhole length
Table 2 - Drill Hole Specifications
----------------------------------------------------------------------------
Drill Hole Easting Northing Elevation (m) Azimuth Dip Depth (m) Comment
----------------------------------------------------------------------------
LC036 420960 585350 1876 0 -90 100 Infill
----------------------------------------------------------------------------
LC037 420911 585397 1875 0 -90 100 Infill
----------------------------------------------------------------------------
LC038 420825 585352 1898 0 -90 150 Infill
----------------------------------------------------------------------------
LC039 420795 585428 1920 0 -90 170 Infill
----------------------------------------------------------------------------
LC040 420756 585388 1920 0 -90 93 Delimit
----------------------------------------------------------------------------
LC042 421055 585409 1870 0 -90 100 Delimit
----------------------------------------------------------------------------
LC043 420726 585434 1936 0 -90 100 Delimit
----------------------------------------------------------------------------
To see all maps, figures and strip logs please visit www.baterogold.com.
Joyce Musial Promoted to Vice President, Corporate Development
Joyce Musial has been promoted to the position of Vice President, Corporate
Development effective immediately.
Ms. Musial has over 25 years of experience with junior and senior international
gold exploration and mining companies. Throughout her career, she has gained
strategic corporate experience in investor relations, corporate communication,
and corporate development, and community, governmental and aboriginal relations.
She was Manager, Investor Relations for Cumberland Resources as Cumberland
advanced its gold project through feasibility, permitting, production decision,
project financing and initial construction until the company was acquired at a
value of $710 million by Agnico-Eagle Mines in 2007. Ms. Musial held various
positions with Placer Dome, Westmin Resources, Teck Exploration, the Hunter
Dickinson Group, and various federal and provincial governments. Joyce Musial
holds an Honours Bachelors of Science degree in Geology from the University of
Western Ontario.
Batero Gold will be presenting at the Junior Exploration Forum in Medellin,
Colombia, October 16, 2012.
Sample Preparation, Assays and Quality Assurance/Quality Control
Core is collected and logged (geological & geotechnical), cut and sampled at
Batero Gold's drilling camp at the project area. All QC samples are introduced
before shipment to ALS Minerals sample preparation facilities in Medellin,
Colombia. Prepared samples are then shipped to ALS's analytical facilities in
Lima, Peru for analyses. Gold is fire-assayed using a 50 gram aliquot sample and
Atomic Absorption finish. Multi-element analysis is achieved by Four Acid
Digestion and an Induced Coupled Plasma - Emission Spectroscopy finish.
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, each batch comprising 24 samples.
Monitoring of these QC samples is a critical part of Batero Gold Corps QA/QC
protocols.
Darryl Lindsay, Ph.D., P.Geo., Senior Vice President and Chief Operating Officer
at Batero Gold, is the qualified person as defined by National Instrument 43-101
and is responsible for the technical information provided in this release and
all future news releases.
ON BEHALF OF THE BOARD OF BATERO GOLD CORP.
Brandon Rook, President & CEO
Batero Gold Corp.
ABOUT BATERO GOLD
Batero Gold Corp. is a precious and base metals exploration and development
company focused in the emerging and prolific Mid-Cauca porphyry gold and copper
belt in the Quinchia district of Colombia. Batero has a 100% interest in the
Batero-Quinchia gold project and is currently focused on advancing La Cumbre
deposit toward a production decision optimizing the most efficient leach
processing circuit. The Company is first targeting the near and at surface
higher grade oxidized gold mineralization. Batero has assembled a strong
management and technical team that have contributed to significant discoveries
and mineral development programs in Colombia and South America. Batero plans to
leverage its strategic share structure with strong local and regional
relationships, and long-term financial partners, to develop its Batero-Quinchia
exploration project into a gold producing operation. Shares of the
Vancouver-based company trade on the Toronto Venture Exchange under the symbol
BAT.
FORWARD-LOOKING STATEMENTS: Certain of the statements and information in this
press release constitute "forward-looking statements" or "forward-looking
information" Any statements or information that express or involve discussions
with respect to predictions, expectations, beliefs, plans, projections,
objectives, assumptions or future events or performance (often, but not always,
using words or phrases such as "expects", "anticipates", "believes", "plans",
"estimates", "intends", "targets", "goals", "forecasts", "objectives",
"potential" or variations thereof or stating that certain actions, events or
results "may", "could", "would", "might" or "will" be taken, occur or be
achieved, or the negative of any of these terms and similar expressions) are not
statements of historical fact and may be forward-looking statements or
information.
Forward-looking statements or information relate to, among other things:
developing the most efficient and cost-effective leach processing circuit for
the Cumbre gold deposit, the timing and scope of expected diamond drilling;
resource estimate, grades on the Batero-Quinchia project; scope of
mineralization within the Batero-Quinchia project; timing of receipt of permits
and regulatory approvals; the sufficiency of the Company's capital to finance
the Company's operations; geological interpretations and potential mineral
recovery processes.
Forward-looking statements or information are subject to a variety of known and
unknown risks, uncertainties and other factors that could cause actual events or
results to differ from those reflected in the forward-looking statements or
information, including, without limitation, risks relating to: fluctuations in
the spot and forward price of gold or certain other commodities; changes in
national and local government legislation, taxation, controls, regulations and
political or economic developments in Canada, Colombia or other countries in
which the Company may carry on business in the future; the uncertainties
involved in interpreting geological data; business opportunities that may be
presented to, or pursued by, the Company; operating or technical difficulties in
connection with mining activities; the speculative nature of gold exploration
and development, including the risks of obtaining necessary licenses and
permits; diminishing quantities or grades of reserves; and contests over title
to properties, particularly title to undeveloped properties. In addition, there
are risks and hazards associated with the business of gold exploration,
development and mining, including environmental hazards, industrial accidents,
unusual or unexpected formations, pressures, cave-ins, flooding and gold bullion
losses (and the risk of inadequate insurance, or the inability to obtain
insurance, to cover these risks).
This list is not exhaustive of the factors that may affect any of the Company's
forward-looking statements or information. Forward-looking statements or
information are statements about the future and are inherently uncertain, and
actual achievements of the Company or other future events or conditions may
differ materially from those reflected in the forward-looking statements or
information due to a variety of risks, uncertainties and other factors,
including, without limitation, those referred to in the Company's Filing
Statement dated as of June 22, 2010 under the heading "Risk Factors". Although
the Company has attempted to identify important factors that could cause actual
results to differ materially, there may be other factors that cause results not
to be as anticipated, estimated, described or intended. Accordingly, readers
should not place undue reliance on forward-looking statements or information.
The Company's forward-looking statements and information are based on the
assumptions, beliefs, expectations and opinions of management as of the date of
this press release, and other than as required by applicable securities laws,
the Company does not assume any obligation to update forward-looking statements
and information if circumstances or management's assumptions, beliefs,
expectations or opinions should change, or changes in any other events affecting
such statements or information. For the reasons set forth above, investors
should not place undue reliance on forward-looking statements and information.
To view Figure 1 - Plan Map showing Drill Hole Locations, please visit the
following link: http://media3.marketwire.com/docs/818712.pdf.
Please visit http://www.baterogold.com/en/maps/la-cumbre-section-maps if you are
unable to view this map.
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