Batero Gold
Announces Appointment of Dr. Darryl Lindsay to Senior Vice President and
Director
Batero Gold Corp. (TSX-V: BAT) is
pleased to announce Dr. Darryl Lindsay has been appointed Senior Vice President
of the Company and President of the Company's wholly owned Colombian
subsidiary, Minera Quinchia
S.A.S. Dr. Lindsay has also been appointed to the Board of Directors of the
Company effective immediately.
�As we have moved into a brownfields development plan, Dr. Lindsay's
extensive experience will facilitate the early development of the Batero-Quinchia project.� said Brandon Rook, President and
CEO.
"Dr. Lindsay's success in the development, management and completion of
major mineral development projects in South America identifies him as the ideal
leader entering into the next phase at the Batero-Quinchia
project," said Mr. Rook. "His demonstrated ability to direct major
resource development programs, in all their geological, social and
environmental responsibilities, enhances the confidence of all of us engaged in
the efforts to identify a world-class gold and copper deposit at the Batero-Quinchia project."
In order to accommodate the appointments of Dr. Lindsay, Mr. Rafael
Alfonso Roa has resigned as a Director of the
Company and also as President of the Company's wholly owned subsidiary in
Colombia, Minera Quinchia
S.A.S.
�We are pleased that Dr. Lindsay has accepted this senior position
and taken on these responsibilities to assist our transition from a successful
exploration company to an exploration and development company
starting in 2012� said Mr. Rook.
Brandon Rook, President and CEO states, �We thank Mr. Rafael Alfonso Roa for his leadership and as one of the Company�s founders
leading the exploration team to significant success in a short period of time.
The change today is consistent for the long term plans of Mr. Rafael
Alfonso Roa to focus his strong efforts on initial
identification and exploration of Greenfield projects and on Corporate Social Responsibility
(CSR) initiatives.�
The Company is poised to achieve its first major milestone, that being
publishing its first resource estimate that has spanned approximately 18 months
from company inception, through a phase 1 field exploration program followed by
the completion of a 55,755 metre diamond drill
program.
Following the publication of the initial mineral resource estimate in January,
2012 the Company will continue aggressively developing the project by
immediately initiating a Preliminary Economic Assessment (PEA). The work
program will include additional metallurgical studies on representative samples
from each deposit area for both higher grade near surface oxide zone
mineralization and primary sulphide associated
mineralization in order to determine an optimal mining process flow sheet,
infill drilling of the mineralized centres discovered
during the 2011 drill program, as well as an orientated drill program for
geotechnical and hydrogeological models to support pit slope designs, and
a mine infrastructure location study.
Simultaneously, the Company will build upon 2011�s successful field exploration
and diamond drill program by strategically expanding the near and at surface
higher grade gold mineralization at La Cumbre
porphyry that remains open in all directions, and the Company will define the
size and extent of the near surface high grade gold epithermal mineralization
in and adjacent to the Amarilla Structural Corridor,
which is contiguous to the eastern boundary of La Cumbre
porphyry. This high priority target is over 3 kilometres
in length, ranges from 200m to 400m wide, and strikes NNW-SSE across the
Company�s tenement. Further to defining the higher grade gold oxidation
zone, in 2012 the Company will test the continuation of this mineralized
horizon to the east beyond the eastern contact of La Cumbre
porphyry past the Amarilla Structural Corridor to an
under explored area called El Cedral. Initial
prospecting in this area confirms an extensive oxidation horizon with anomalous
gold-in-soil anomalies.
The Company will continue to evaluate all data received from the 2011 diamond
drill program to finalize a focused follow-up drill program both to expand the
initial resource and to work towards defining future mineral reserves.
The areas to be included are the Matecana
porphyry target in the south, La Cumbre porphyry, the
El Centro Zone and the Dos Quebradas porphyry in the
north; these mineralized centres occur within an area
of an approximate and continuous N-S strike length greater than 2.8 kilometres by 1.5 kilometres
E-W.
The substantive work completed during 2011 coupled with an efficient, targeted
and systematic diamond drill program in 2012 (as described above) and a
comprehensive phase 1 field exploration program on additional unexplored high
priority and prospective exploration targets located immediately adjacent to
the current project area (over 50% of the project area is yet to undergo phase
1 field exploration), the Company anticipates it will significantly further the
overall project size and deposit potential in 2012.
Kieran Downes, Ph.D., P.Geo., a qualified person
as defined by National Instrument 43-101, is responsible for the technical
information provided in this release.
ON BEHALF OF THE BOARD
OF
BATERO GOLD CORP.
Brandon Rook