December 15, 2011 08:00 ET
Batero Gold Extends Mineralization Length at Dos Quebradas Porphyry to 950 Metres
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Dec. 15, 2011) - Batero Gold Corp. (TSX VENTURE:BAT) is pleased to report the latest drill results from its recently completed 55,755 metre 2011 diamond drill program on the company's 100-per-cent-owned Batero-Quinchia project in Risaralda, Colombia. A total of nine holes (4,118.59 metres) are being released. Today's results are from delineation and in-fill drilling at Dos Quebradas porphyry and delineation drill testing the western and south-central extents at El Centro.
The drill holes reported in this release have extended in a north-south strike length the gold and copper mineralization at Dos Quebradas to approximately 950 metres. Drill hole SB-021 is located on the northern boundary of the Company's concession and drill hole MZ-004 is located in the south and west zone at El Centro. (Please refer to figure 1 Plan Map and figure 2 Plan Map for Dos Quebradas drill hole locations.)
To view the map associated with this press release, "figure 1 Plan Map," please visit the following link: http://media3.marketwire.com/docs/Fig1planmapBAT1512.pdf.
To view the map associated with this press release, "figure 2 Plan Map," please visit the following link: http://media3.marketwire.com/docs/Fig2planmapBAT1512.pdf.
"We are encouraged by the continuity of the Dos Quebradas gold-copper system from the El Centro porphyry mineralization in the south through to our concession boundary in the north. The drill results show a large extension of intrusion related porphyry mineralization within the basalt host rocks continuing to the northern limits of our concession. Also, the new results indicate that mineralization is present near surface and at depth," stated Brandon Rook, President and CEO.
"We are also pleased with the results from the drill holes testing the western extent of the El Centro zone which intersected significant porphyry style mineralization in drill hole MZ-004 and higher grade epithermal mineralization discovered in drill hole MZ-005 (Manzanillo) which possibly may connect to the epithermal mineralization intersected to the south at La Cumbre."
Drill hole highlights include:
SB-021 intersecting from 227.00 metres below surface, 138.00 metres grading 0.70 g/t gold and 0.06% copper; including 96.00 metres grading 0.82 g/t gold and 0.08% copper.
SB-017 intersecting from 8.00 metres below surface, 265.00 metres grading 0.35 g/t gold and 0.08% copper.
MZ-004 intersecting from 39.00 metres below surface, 100.00 metres grading 0.56 g/t gold and 0.04% copper; including 58.00 metres grading 0.75 g/t gold and 0.04% copper.
(For results of all drill holes please refer to Table 1, and 2)
Five drill holes (SB-011, SB-012, SB-014, SB-015 and SB-017) located in the Dos Quebradas south-El Centro zone are significant as these holes were also mineralized lending more evidence that the mineralization is continuous between Dos Quebradas porphyry in the north and La Cumbre porphyry in the south.
Exploratory drilling continues to expand the expected zone of higher grade epithermal gold mineralization which is believed to be overprinting the porphyry mineralization. Drill hole MZ-005 was drilled to test the western extent of the El Centro zone and epithermal mineralization was discovered at depth intersecting 1.26 g/t gold over a two metre interval. Other drill holes located nearby MZ-005 that have also intersected epithermal mineralization include QAP-DDH-044 located approximately 300 metres west-southwest grading 1.75 g/t gold over a two metre interval and QAP-DDH-034 located approximately 180 metres south-southeast grading 3.73 g/t gold and 0.02% copper over 23.30 metres; including 11.42 g/t gold over 5.80 metres (N.R. July 27, 2011). The epithermal mineralization intersected near surface and at depth at La Cumbre and discovered at, or near surface at El Centro will continue to be delineated along the trend of the Amarilla Structural Corridor.
The Company has completed its 55,755 metre 2011 diamond drill program and anticipates receiving final drill results from the entire 2011 drill program during December, 2011. The Company will finalize its initial resource estimate by the end of the year, and will publish its first independent resource estimate report by Roscoe Postle Associates Inc. in January, 2012. The mineral resource estimate report will comprise approximately 60,000 metres of diamond drilling, being 55,755 metres from the Company's drill program and the remaining metres from historical drilling, and will also include the results from the Company's initial metallurgical test work prepared by G&T Metallurgical Services. For a full corporate update see news release November 30, 2011.
A new website (www.explorebatero.com) has recently been uploaded describing the Company's Corporate Social Responsibility (CSR) initiatives. This also includes six short documentary movies that explore Batero's sustainability commitments. To view the videos with non-compatible QuickTime devices follow this link (http://www.baterogold.com/corporate/social-and-environmental-videos).
Table 1 - Significant Intersections
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