Jul 13 2015
Batero Gold Corp. ("Batero", or the "Company") is pleased to announce results from the oxide sampling program at its 100% owned Batero-Quinchia Project in the Department of Risaralda, Colombia. The latest auger sampling results show values up to 2.64 grams per tonne gold from the La Cumbre area, with 27 of the 67 samples (40%) having values greater than 0.75 grams per tonne gold and 14 samples (21%) having values greater than 1 gram per tonne gold. Batero has also begun work on a Work and Investment Plan (PTO) for the La Cumbre oxide deposit.
Oxide Sampling
Auger sampling of the La Cumbre oxide to date have defined a mineralized zone, averaging more than 0.75 grams per tonne gold, over 500 metres in a northwest - southeast direction and varying in width from 100 to 250 metres wide. This zone is parallel to a dominant northwest-southeast structural trend that is one of the mineralization controls in the district. There is also a smaller 120 by 120 metre mineralized zone defined just to the southwest (See map at http://www.baterogold.com/en/oxide-sampling-map-0 or www.baterogold.com). Both zones remain open to the south and are in the process of being followed up with further auger sampling.
Results of the latest batch of 67 samples vary from 0.022 grams per tonne gold to a high of 2.64 grams per tonne gold and average 0.63 grams per tonne gold.
Work and Investment Plan
Batero has retained CoalSupport SAS, a leading Colombian energy and mining consulting firm, to complete a Work and Investment Plan (Programa de Trabajos y Obras "PTO") for the La Cumbre oxide deposit. The PTO will outline an operating plan for La Cumbre and must be approved by the Agencia Nacional de Mineria (ANH), a division of the Ministry of Mines and Energy, as part of the mining license approval process which also includes the approval of an Environmental Impact Assessment (EIA). Batero intends to begin work on an Environmental Impact Assessment once the PTO is completed in late July.
"Batero continues to advance the Batero-Quinchia project in a cost efficient manner, executing on the milestones set out earlier this year" stated Roger Moss, President and CEO of Batero Gold. "The results of our auger sampling indicate near surface, bulk mineable oxides of good grade, particularly at La Cumbre. We will continue to advance the project with metallurgical test work and the implementation of an Environmental Impact Assessment ( EIA ) in the near future."
Quality Control and Quality Assurance
All sampling was undertaken by Batero Gold personnel. Auger samples of approximately 2kg were taken at depths ranging from 1 to 15 metres, depending on the thickness of barren cover (volcanic ash and/or colluvium). 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, duplicates and standards with the sample batches as part of its QA/QC program. Quality control samples comprised 14% of the samples analyzed.
Dr. Roger Moss, Ph.D., 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