VANCOUVER, BRITISH COLUMBIA--(Marketwired - Jan. 28, 2015) - Batero Gold Corp. ("Batero", or the "Company") (News - Market indicators) is pleased to provide results of a study of the oxide mineralization of the La Cumbre deposit and surrounding areas at the Batero-Quinchia project, Risaralda, Colombia. The study included mapping potential extensions of the oxide, sampling the oxide where exposed in new areas and auger sampling of the saprolite hosted oxide mineralization below overburden and a barren ash layer. The sampling was undertaken both within the area of the current resource, to further define higher grade areas, as well as outside the resource area to check for additional oxide mineralization. Results of 102 samples indicate values up to 1.46 g/t gold in channel samples and up to 2.03 g/t gold in auger samples of the oxide layer.
The oxide zone at Batero-Quinchia occurs at or near surface, forming the top of the three gold porphyries La Cumbre, El Centro and Dos Quebradas. The oxide zone contains measured and indicated resources of 12.1 million tonnes grading 0.68 g/t gold (264,000 oz gold) and inferred resources of 7.5 million tonnes grading 0.48 g/t gold (116,000 oz gold) at a 0.3g/t cut-off grade (see Technical Report dated December 16, 2013 and filed on Sedar on December 18, 2013).
"We are pleased with the success of our low cost exploration of the near surface oxide mineralization at Batero-Quinchia, undertaken while preserving our strong treasury," stated Roger Moss, President and CEO of Batero Gold. "Further work is planned to follow up on the results of the program as we continue to develop the exploration potential of the property."
In addition to confirming the presence of the oxide zone in the vicinity of La Cumbre, two new areas in the vicinity of La Lenguita and Dos Quebradas were also outlined. A summary of the results are shown in the table below and a map showing the location of samples can be viewed at http://www.baterogold.com/en/sample-location-map.
Channel samples of the outcropping oxide mineralization were typically 2 metres long. Auger samples of approximately 2kg were taken at depths ranging from 1 to 15.5 metres, depending on the thickness of barren cover (volcanic ash and/or colluvium). All samples were placed in heavy duty plastic bags, labelled, sealed and securely stored before transport to the laboratory. Samples were analyzed at ALS Laboratories in Lima Peru, following preparation at ALS in Medellin Colombia. Gold was assayed by atomic absorption spectroscopy following standard fire assay preparation (FA-AAS). Batero submitted blanks and standards with the sample batches as part of its QA/QC program. Quality control samples comprised 7% of the samples analyzed.
Dr. Roger Moss, P.Geo., the Company's Qualified Person, prepared the technical information in this news release.
ON BEHALF OF THE BOARD OF BATERO GOLD CORP.
Roger Moss, President and CEO
Batero Gold Corporation
ABOUT BATERO GOLD
Batero Gold Corp. is a precious and base metals exploration and development Company focused on two primary objectives. The first of these objectives is the advancement of the La Cumbre oxide deposit. La Cumbre is located within the Company's 100% owned Batero-Quinchia Gold Project, which sits within Colombia's emerging and prolific Mid Cauca gold and copper belt. Batero is moving the La Cumbre oxide deposit towards the goal of making a production decision, once the appropriate level of study has been completed, and intends to first target the near and at surface higher grade oxidized gold mineralization at the deposit. Batero's second objective is to pursue opportunities to acquire prospective high-grade, production focused mineral properties in Colombia and Latin America. In pursuing both these objectives, Batero plans to leverage its secure treasury position, strong regional relationships, experienced management team, and long-term financial partners. Shares of the Vancouver-based company trade on the TSX-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 may 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 estimates; grades on the Batero-Quinchia project; scope of mineralization within the Batero-Quinchia project; receipt and/or timing of required permits and regulatory approvals; the sufficiency of the Company's capital to finance the Company's operations; and geological interpretations and potential mineral recovery processes.
Forward-looking statements and 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.
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 or information in the event that circumstances or management's assumptions, beliefs, expectations or opinions should change, or there should occur or develop 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.
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.
