VANCOUVER, BRITISH COLUMBIA – July 9, 2015 - Batero Gold Corp. (“Batero”, or the “Company”) (TSX-V: BAT) 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
For further information please contact:
Michael Mills
Tel: 604.568.6378 or
Roger Moss
Tel: 416-704-8291 or
Email:This email address is being protected from spambots. You need JavaScript enabled to view it.
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.
