Batero Gold Corp. Announces Significant Drill Results at Batero-Quinchia Project

Strategic Insights -

Batero Gold Corp., a Vancouver-based precious and base metals exploration and development company, has announced its most significant drill results to date at the Batero-Quinchia Project in Risaralda Department, Colombia. The company's 100%-owned project has yielded impressive results, confirming the presence of porphyry mineralization and extending the mineralized area.

"The drill results confirm our strategic approach to step-out drilling and our strong belief that La Cumbre mineralization extends at depth," said Brandon Rook, President and CEO of Batero Gold Corp. "Drill hole number 8 is the most significant intercept to date at our Quinchia project. We look forward to further expanding on these positive results."

Batero's fully funded drill program consists of 4 drill rigs operating 24/7, with the goal of defining the mineralized extent of porphyry bodies found in 2006 and testing newly discovered target areas. The company is reporting on results from drill holes 3-8 at La Cumbre porphyry, where five historic drill holes yielded and confirmed the porphyry body.

Key Takeaways:

  • The company has announced its most significant drill results to date at the Batero-Quinchia Project, confirming the presence of porphyry mineralization and extending the mineralized area.
  • Drill hole QAP-DDH-008 intersected significant hydrothermal breccia and significant mineralization, making it the most significant intercept to date at the Quinchia project.
  • The company is using a third drill rig at its QAP-DDH-014 La Lenguita target, a new exploration target area discovered by Batero, which has shown potential for gold mineralization.
  • A fourth drill rig is nearing completion of its first hole at Batero's Matecana target, which is located 340 meters lower in elevation and one kilometer southeast of the La Cumbre porphyry.
  • Batero plans to bring a fifth drill rig to the project, expected to be operational by March 2011, and anticipates a total of eight drill rigs to be in operation over the coming months.
  • The company's goal is to define the mineralized extent of porphyry bodies found in 2006 and test newly discovered target areas.
  • Batero's management and technical team have contributed to numerous significant discoveries throughout Colombia, and the company is confident in its ability to develop the Batero-Quinchia Project into a major mining venture.

Statistics:

  • 11 holes have been drilled at La Cumbre by Batero Gold Corp.
  • The company's drill program consists of 4 drill rigs operating 24/7.
  • Batero has 100% ownership in the Batero-Quinchia Project, comprising a 1407.43 hectare tenement.
  • The Batero-Quinchia Project includes three known gold porphyry target centers.
  • The Quinchia district and Batero's project are considered socially stable and mining friendly, with a comprehensive infrastructure network in place.

Sources:

  • Batero Gold Corp. (2011) Press release: Batero Gold Corp. Announces Significant Drill Results at Batero-Quinchia Project.
  • TSX Venture Exchange (2011) News release: Batero Gold Corp. (BAT) announced drill results at the Batero-Quinchia project.
  • Marketwire (2011) Press release: Batero Gold Corp. Announces Significant Drill Results at Batero-Quinchia Project.