VANCOUVER, BRITISH COLUMBIA – March 1, 2015 - Batero Gold Corp. (“Batero”, or the “Company”) (TSX-V: BAT) is pleased to provide an exploration update for the La Cumbre deposit and surrounding areas at the 100% owned Batero-Quinchia project, Risaralda, Colombia. The Company continues to advance the project with ongoing auger sampling of the saprolite hosted gold mineralization in recently identified extensions of the oxide zone where values up to 1.44 grams per tonne gold were obtained (see news release dated January 28, 2015). The company expects to complete the sampling of the oxide zone during the second quarter of 2015.
Following the completion of the oxide sampling, the Company intends to begin bulk sampling of the oxide mineralization for further metallurgical test work. The sampling is expected to begin in Q3-2015 with test work continuing through to year end. Previous phases of test work showed gold recoveries of 91.2% from 12 bottle roll tests on size fractions ranging from 70 microns to 100 microns. Column leach tests on half inch material, leached for 30 days, resulted in gold recoveries of 79.5 and 85.8% (see summary in Technical Report dated December 16, 2013 and filed on Sedar on December 18, 2013).
In addition to the technical studies contemplated for the year, the company also intends to begin an Environmental Impact Assessment (EIA) in Q3-2015. Approval of such an EIA is a necessary step for advancement of the La Cumbre oxide deposit.
“We are excited to be making significant progress again at the Batero-Quinchia Project. The work planned for this year will give us a good understanding of the oxide zone at La Cumbre and the surrounding areas and completion of an EIA will be a major step for the project“ stated Roger Moss, President and CEO of Batero Gold. “We remain focussed on keeping our exploration costs under control without sacrificing the quality of the work or of our personnel.”
The company is also pleased to announce the election of all nominated Directors at the Annual General Meeting held on February 27, 2015 and welcomes Mr. Ernesto Bendezu to the board. Mr. Bendezu is a Peruvian-based lawyer with more than 20 years of experience in the mining industry, 15 of which have been as Legal Manager with Consorcio Minero Horizonte S.A., a position he still holds.
From March 1 to 4, 2015, Batero will be exhibiting at the Prospectors and Developers Association of Canada event at the Metro Toronto Convention Centre in Toronto, Canada. Existing and prospective shareholders are encouraged to visit the Company at Booth 3230.
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.
President and CEO
Batero Gold Corporation
For further information please contact:
Tel: 604.568.6378 or
Tel: 416-704-8291 or
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 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.