Jan 6 2011
Batero Gold Corp. (TSX VENTURE:BAT) has provided an exploration update at the Batero-Quinchia project in Risaralda department, Colombia.
The Company is currently on Diamond Drillhole ("DDH") number eight. There are currently three drill rigs in operation at the Project, the fourth has been mobilized, and is in final stages of set up. Two rigs are drilling at La Cumbre, a third is drilling at La Lenguita and the fourth will be drilling at Matecaña.
The core from the initial drill holes is being logged, split and samples sent to the assay lab for independent analysis. The Company is awaiting receipt of initial assay results and once received a news release on assay results can be issued.
The Company has just recently completed its ground-based IP, radiometric, and magnetometry surveys. This work program included the completion of 57 line kilometres of geophysical profiling on a 50-metre line-spaced grid covering approximately 40% of the Batero-Quinchia Project including three known porphyry centres - La Cumbre, Manzanillo-Mandeval, and Dos Quebradas.
Initial magnetic data interpretation suggests the largest Reduced to the Pole ("RTP") Total field magnetic anomaly highs are located in the southern region of the study area, in La Cumbre and Matecaña sectors. These anomalies can possibly be attributed to mineralized diorite porphyry intrusive bodies located in this area. Intermediate anomaly highs are observed in the central region in the Manzanillo-Mandeval, La Lenguita and El Cedral. These anomalies can also be possibly attributed to mineralized diorite porphyry intrusive bodies. The smallest magnetic anomaly highs are located in the northern region in Dos Quebradas and La Lenguita-San Luis.
The Induced Polarization (IP) survey has been useful in outlining sulphide distribution in porphyry deposits related to chargeability anomaly highs. The survey identified few major chargeability highs and few discontinuities at depths from 170m to 310m and several small chargeability highs and several discontinuities at depths from 20m to 100m depth. These chargeability highs and discontinuities possibly suggest that the diorite porphyry intrusion has been intensively fractured and that sulphide mineralization has been emplaced along these fracture zones.
According to preliminary results, approximately 40% portion of the Batero-Quinchia mining project covered by the induced polarization survey has the potential to host porphyry style alteration zones and sulphide zones.
A radiometric survey was also conducted in conjunction with the IP and Magnetic survey to potentially capture alteration signatures that may be related to altered porphyry bodies. A total of 5417 radiometric stations were acquired along 24 north-south line profiles.
Additional processing and interpretation is currently being conducted to include 3-D magnetic and IP inversion modeling and target identification will follow after the final processing is complete.
The Batero-Quinchia Project is located in the prolific Middle Cauca Belt which hosts two gold deposits: Marmato deposit (Medoro Resources) located approximately 20 kilometres north of the Batero-Quinchia Project and La Colosa deposit (AngloGold Ashanti) located approximately 100 kilometres south of the Batero-Quinchia Project. This belt is also host to other recognized porphyry gold deposits including Titiribi, La Mina, and Quebradona.