March 07, 2011
Batero Gold Intersects 460.00 Metres Grading 0.70 g/t Gold And 0.12% Copper
Including 261.00 Metres Of 1.00 g/t Gold And 0.16% Copper Starting From 10
Metres Below Surface
Significant highlights include:
| Hole | From (m) | To (m) | Length | Au (g/t) | Cu (%) |
| QAP-DDH-009 | 10.00 | 470.00 | 460.00 | 0.70 | 0.12 |
| including | 10.00 | 91.00 | 81.00 | 1.40 | 0.15 |
| including | 10.00 | 223.70 | 213.70 | 1.11 | 0.17 |
| inlcuding | 10.00 | 271.00 | 261.00 | 1.00 | 0.16 |
| QAP-DDH-010 | no significant values | ||||
| QAP-DDH-011 | 7.50 | 415.00 | 407.50 | 0.64 | 0.13 |
| including | 7.50 | 89.00 | 81.50 | 1.00 | 0.15 |
| including | 7.50 | 162.00 | 154.50 | 0.80 | 0.14 |
*Maps, drill hole profiles for hole 9 and 11 and all other drill holes at La Cumbre, and drill core photos may be viewed at www.baterogold.com in the project section of the website
Drill hole QAP-DDH-011 results for the final 118 metres (from 415.0m - 533.0m) are still pending; results will be reported once received, verified and analyzed.
"The results from drill holes 9 and 11 further confirm evidence of a significant deposit developing at La Cumbre. Most significant, the 261 metres of drill hole 9 is grading at 1.00 grams of gold per tonne and 0.16% copper," said Brandon Rook, President and CEO. "We will continue to work aggressively to complete our Phase 1 drill program by the end of Q2 and anticipate publishing a compliant updated NI 43-101 resource later this year."
These holes, especially QAP-DDH-009 and 011 have shown two important aspects of exploration at La Cumbre porphyry: the mineralization appears to be continuous in the area immediately surrounding QAP-DDH-009 and begins to show the potential of a higher grade zone within the La Cumbre porphyry; and the mineralization is expanding to the north as shown by QAP-DDH-011.
This area remains open towards the NNW and SE. The exact extension and geometry of the mineralized porphyry system will be continually defined with systematic exploration drilling.
Batero's fully funded drill program consists of 4 drills operating 24/7. The company's goal is to define the mineralized extent of two gold and copper porphyry centres previously identified in 2006-07, and to explore newly discovered targets.
Currently four drills are on site with two being used to delineate and further explore the company's La Cumbre porphyry. So far, a total of 16 diamond drill holes have been completed at La Cumbre by Batero.
Batero is using a third drill at La Lenguita target - a new exploration target area discovered by Batero. Considered a top priority, La Lenguita is situated 500m northeast of the La Cumbre target area.
A fourth drill is approaching the completion of its first hole at Batero's other high-priority and new exploration target at Matecana, located 340 metres lower in elevation and one kilometre southeast of the La Cumbre porphyry.
The fifth drill will target a new area at Manzanillo, a site approximately 500 metres north of La Cumbre porphyry identified recently by Batero's geophysics and geochemical program. The drill is currently being mobilized.
Batero commenced its phase 1 - 16,000-metre - drill program in late October 2010. The company has drilled, as of March 5, a total of 9826.45 metres over a total of 21 holes.
The company anticipates a total of eight drill rigs to be in operation over the coming months.
Drill Hole Summary
(To view drill profiles and location map see Figure 1 below)
Hole QAP-DDH-009
This hole was collared at 421000E, 585375N, at 1866m elevation, and was drilled
at an orientation of 160/-65 degrees for a total of 479.9 metres. This hole was
drilled to the southeast to confirm mineralization extends between previously
drilled holes QAP-DDH-002 and QAP-DDH-008, which covers a horizontal distance of
approximately 170.0 metres. The hole mainly drilled through variably fractured
quartz diorite porphyry and hydrothermal breccias. Mineralization is composed
mostly of stockwork veining composed of A and B-type veinlets of variably
density and disseminated pyrite and magnetite with trace amounts of chalcopyrite
and molybdonite. Chloritic and biotitic alteration is dominant with more
abundant silicification at the top of the hole. (See drill hole 009 profile
below).
Hole QAP-DDH-010
This hole was collared at 421180E, 585530N, at 1871.2m elevation, and was
drilled at an orientation of 340/- 65 degrees for a total of 201.05 metres. This
hole was drilled to the northeast to investigate an area where favourable
geochemical surface samples were collected within La Angelica creek area and was
drilled off the same platform as QAP-DDH-006. From top to bottom this hole
drilled predominantly through clast supported hydrothermal breccia.
Hole QAP-DDH-011
This hole was collared at 420964E, 585446N, at 1877.0m elevations, and was
drilled at an orientation of 270/-60 degrees for a total 533.0 metres. The hole
was designed as a step out hole to the north of historic holes DQ-DDH-007, which
intersected 265.3 metres of 0.49 g/t Au and 0.09% Cu, and DQ-DDH-008, which
intersected 276.65 metres of 0.75 g/t Au and 0.14% Cu. The hole intersected
approximately 200.0 metres of breccia at the top of the hole followed by
alternating porphyritic quartz diorite with breccias and moderate amounts of
fault zones to the holes completion. Mineralization is mainly disseminated
pyrite and magnetite with trace amounts of chalcopyrite and molybdonite and
stockwork veining of varying density composed of A and B-type veinlets. (See
drill hole 011 profile below)
Batero Gold will be exhibiting at the Prospectors and Developers Association of
Canada Convention 2011, and would like to invite all to visit Booth #3341 in the
Investors Exchange.
For further information about the PDAC please visit: http://www.pdac.ca/pdac/conv/index.aspx
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 and copper deposits including Titiribi, La Mina, and Quebradona.
Darren Anderson, PGeo, the qualified person for the company, has reviewed the
accuracy of the technical portion of the news release.
Sample preparation, assays and quality assurance/quality control
Core is collected and initially logged at Batero Gold's drilling camp at the
project area. The core is then securely shipped in core boxes to Batero's core
processing facility in Pereira, Colombia. Here the core is logged in detail, cut
and sampled, and all QC samples are introduced before the samples are shipped to
ALS Chemex's sample preparation facility in Bogota, Colombia. Prepared samples
are then shipped by ALS to their analytical facility in Lima, Peru for analyses.
Gold is fire assayed using a 50.0 gram aliquot sample using an Atomic Absorption
finish (AA) and multi-element analysis is by Four Acid Digestion using and
Induced Coupled Plasma (ICP) 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, which is composed of 25 samples.
Regular monitoring of these QC samples is a critical part of Batero Gold Corps
QA/QC protocols.
ON BEHALF OF THE BOARD OF
BATERO GOLD CORP.
Brandon Rook
Brandon Rook,
President & CEO
Batero Gold Corp.
For further information please contact:
Batero Gold Corp.
Tel: 604.568.6378 or
info@baterogold.com
About Batero Gold:
Batero Gold Corp. (TSX-V:BAT) is a Vancouver-based precious and base metals
exploration and development company focused in Colombia's emerging and prolific
Mid-Cauca porphyry gold and copper belt. Batero is located within the Quinchia
district and has 100% ownership in the Batero-Quinchia Project, comprising a
1407 hectare tenement. The Batero-Quinchia Project includes three known gold
porphyry target centres. The Quinchia district and Batero's project is
considered socially stable and mining friendly and is supported with a
comprehensive infrastructure network. Batero has assembled a strong management
and technical team in Colombia whom have contributed to numerous significant
discoveries throughout Colombia. Batero plans to leverage its share structure
with strategic local and regional relationships, and long-term financial
partners, to develop its prospective project into what the Company believes will
be Colombia's next major mining venture.
FORWARD LOOKING STATEMENTS: This press release contains forward-looking
statements. Forward-looking statements are statements that are not historical
facts and are generally, but not always, identified by the words expects, plans,
anticipates, believes, intends, estimates, projects, potential and similar
expressions, or that events or conditions will, would, may, could or should
occur. Although the Company believes the expectations expressed in such
forward-looking statements are based on reasonable assumptions, such statements
are not guarantees of future performance and actual results may differ
materially from those in forward looking statements. Forward-looking statements
are based on the beliefs, estimates and opinions of the Company's management on
the date such statements were made. The Company expressly disclaims any
intention or obligation to update or revise any forward-looking statements
whether as a result of new information, future events or otherwise.
"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.
