Batero Gold Corp.
TSX VENTURE : BAT

Batero Gold Corp.

May 19, 2011 08:30 ET

Batero Gold Drills Deepest Mineralized Intercept to Date in Vertical Hole Ending in Mineralization at 602.50 Metres

VANCOUVER, BRITISH COLUMBIA--(Marketwire - May 19, 2011) - Batero Gold Corp. (TSX VENTURE:BAT) reports assay results from 8 new drill holes from its 100%-owned Batero-Quinchia project in Risaralda Department, Colombia. QAP-DDH-013 intersected 0.45 g/t Au and 0.12 % Cu over 592.5 metres, and bottomed in gold and copper mineralization at a depth of 602.5 metres (Table 2). This is the longest vertical mineralized intersection to date. The intersection also includes 260.80 metres grading 0.73 g/t Au and 0.15% Cu and 135.70m grading 1.00 g/t Au and 0.16% Cu from 10m below surface. A 1,000-metre vertical drill hole is now drilling to test the open mineralization. Four drill rigs are currently operating at La Cumbre to delineate the gold and copper mineralization.

Additional significant new drill hole highlights include:

  • QAP-DDH-011 intersecting 7.50m below surface 458.50m grading 0.64 g/t Au and 0.12% Cu including from 7.50m below surface 154.50m grading 0.80 g/t Au and 0.14% Cu
  • QAP-DDH-015 intersecting 8m below surface 234.00m grading 0.54 g/t Au and 0.08% Cu including from 8m below surface 114.70m grading 0.78 g/t Au and 0.12% Cu
  • QAP-DDH-016 intersecting 14m below surface 219m grading 0.82 g/t Au and 0.13% Cu including 138m grading 1.00 g/t Au and 0.16% Cu
  • QAP-DDH-022 intersecting 251.25m grading 0.55 g/t Au and 0.12% Cu
  • QAP-DDH-023 intersecting 510.85m grading 0.42 g/t Au and 0.11% Cu including 106.7m grading 0.69 Au g/t and 0.12% Cu

See La Cumbre Zone Drilling map at the following link: http://media3.marketwire.com/docs/batdrm519.pdfor go towww.baterogold.comand click on recent news.

Today's La Cumbre porphyry drill results are part of Batero's now completed Phase 1 - 16,000-metre drilling campaign. A Phase 2 – 24,000-metre drilling campaign is currently underway. A total of 18 drill holes from La Cumbre porphyry have now been press released.

A significant zone of secondary enrichment is present in the La Cumbre porphyry (Table 1). The secondary enriched zone continues to be expanded and drill tested in all directions and the company considers this a high priority to further refine and define as this may become a significant positive factor contributing to any future development of the La Cumbre porphyry target.

Brandon Rook, President and CEO stated, "These positive drill results confirm our expectations for the La Cumbre porphyry. The deposit remains open in two directions and continues to require further delineation at depth but more importantly a significant secondary enrichment zone has been identified near surface, which we continue to drill test and develop. The existence of a substantial near surface secondary enrichment zone could significantly enhance the development opportunities of this project."

Please visit: http://media3.marketwire.com/docs/batfig1r19.pdfto view "La Cumbre Zone drilling map with histograms and approximate porphyry boundaries", or go towww.baterogold.comand click on recent news.

Highlight results from the drill program thus far in the developing zone of secondary enrichment at La Cumbre porphry include:

TABLE 1
Hole IdFrom (m)To (m)Interval (m)Au (g/t)Cu (%)Dip°
QAP-DDH-0088.00186.20178.201.000.15-60
QAP-DDH-00910.00271.00261.001.000.16-65
including10.00223.70213.701.110.17-65
and10.0091.0081.001.400.15-65
*QAP-DDH-0117.50162.00154.500.800.14-60
QAP-DDH-01310.00270.80260.800.730.15-90
including10.00145.70135.701.000.16-90
QAP-DDH-0158.00122.70114.700.780.12-90
QAP-DDH-01614.00233.00219.000.820.13-75
including14.00152.00138.001.000.16-75
and14.00174.00160.000.970.15-75
QAP-DDH-0202.0021.3519.350.810.10-65
QAP-DDH-0232.0023.7021.700.960.12-65

The company's findings to date from the Phase 1 drill campaign has identified the presence of a potential structural corridor which is presently considered to host the La Cumbre porphyritic complex (as shown in Figure 1 and Figure 2) and trends to the NNW, dips to the west and remains open to the NNW, SSE, and remains open at depth. The total approximate length of the porphyry to date (which remains open in both directions) is 0.6km and a width approximated between 200m – 400m and an open depth projection potentially greater than 600m. An aggressive drill program (4 dedicated drills) continues at La Cumbre to delineate the porphyry and also infill drill the porphyry in anticipation of a NI-43-101 resource estimate to be published Q4, 2011.

To view details of the drill holes currently underway or recently completed which are delineating the porphyry please visit the following link: http://media3.marketwire.com/docs/batfig2519.pdf or go to www.baterogold.com and click on recent news.

Batero's fully funded drill program consists of 8 drills now turning. The company's goal is to define the mineralized extent of two gold and copper porphyry centres previously identified by AngloGold Ashanti in 2006-2007, namely La Cumbre porphry and Dos Quebradas porphyry. Batero is also exploring new high priority targets identified from a comprehensive ongoing field program. The ultimate goal is to consolidate the company's gold and copper mineralization throughout the project into a compliant NI-43-101 resource estimate, which is now expected to be published in Q4, 2011. Metallurgical work is on-going and results are expected over the coming months.

TECHNICAL DATA

Attached in Table 2 below are the full results of the 8 drill holes released today:

TABLE 2
Hole IdFrom (m)To (m)Interval (m)Au (g/t)Cu (%)Dip°
*QAP-DDH-0117.5466.0458.50.640.12-60
including7.5162.0154.50.80.14-60
QAP-DDH-01310.0602.5592.50.450.12-90
including10.0270.8260.80.730.15-90
and10.0145.7135.71.000.16-90
QAP-DDH-0158.0242.0234.00.540.08-90
including8.0122.7114.70.780.12-90
QAP-DDH-015290.0323.033.00.390.08-90
QAP-DDH-015361.0419.058.00.40.08-90
QAP-DDH-015492.0589.397.30.290.11-90
QAP-DDH-01614.0233.0219.00.820.13-75
including14.0152.0138.01.000.16-75
and14.0174.0160.00.970.15-75
QAP-DDH-0178.0143.0135.00.380.06-65
Including8.074.066.00.540.09-65
QAP-DDH-017427.0484.057.00.260.08-65
QAP-DDH-0202.021.3519.350.810.10-65
**QAP-DDH-02231.4268.2236.80.420.07-65
**QAP-DDH-022334.1585.35251.250.550.12-65
**QAP-DDH-0232.023.721.70.960.12-65
**QAP-DDH-02365.2576.05510.850.420.11-65
including210.3256.145.80.580.18-65
and340.3447.0106.70.690.12-65
* Drill Hole QAP-DDH-011 was previously press released up to 415.00m dated March 07, 2011.
** Drill hole's QAP-DDH-022 and QAP-DDH-023 have Cu re-assays pending for intervals 69.3m – 95.1m and 72.6m – 92.0m respectively. These re-runs are not expected to affect the overall reported Cu values. If the Cu values do change, the company will update the results in a subsequent press release.

Interval lengths represent down-hole distance and not true width with the exception of QAP-DDH-013 and QAP-DDH-015 which are vertical drill holes.

Maps, drill hole profiles of each individual drill hole, and all other drill holes press released at La Cumbre, and drill core photos may be viewed at www.baterogold.com in the project section of the website.

Drill Hole Summary

Hole QAP-DDH-011

This hole was collared at 420955E, 585440N, at 1890.0m elevation, 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 and 008 region , 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.

Drill Hole QAP-DDH-013 and Drill Hole QAP-DDH-015

Drill hole QAP-DDH-013 was collared at 421010E, 585379N, at 1892m elevation, and was drilled at an orientation of 360/-90 degrees for a total 602.5 metres. Drill holes QAP-DDH-013 and QAP-DDH-015 were drilled vertically in the centre of the La Cumbre target area. QAP-DDH-013 intersected a substantial interval including 0.45 g/t Au and 12% Cu starting in saprolite and extending to a depth of 592.5m in faulted diorite and hydrothermal magmatic breccia. The interval includes a section grading 1.00 g/t Au and 0.16% Cu over 135.7m.

Drill hole QAP-DDH-015 was collared at 420955E, 585440N, at 1890m elevation, and was drilled at an orientation of 360/-90 degrees for a total 596.50 metres. QAP-DDH-015 reported 0.54 g/t Au and 0.08% Cu over 234.0m starting from the saprolite zone from diorite and hydrothermal magmatic breccia. This interval includes a zone containing 0.78 g/t and 0.12% Cu over 114.7m.

Drill Hole QAP-DDH-016

This hole was collared at 421010E, 585379N, at 1892m elevation, and was drilled at an orientation of 090/-75 degrees for a total 603.0 metres. QAP-DDH-016 was collared in the eastern region of the La Cumbre porphyry body to test the eastern extension of the mineralization. After drilling through overburden and saprolitic rock at the top of the hole until approximately 46.0 metres, it cut through mainly medium grained quartz diorite porphyry with alternating breccia zones. Mineralization was composed mostly of pyrite and magnetite (disseminated and in veinlets); minor chalcopyrite intersected in the upper hole regions.

Drill Hole QAP-DDH-017

This hole was collared at 420955E, 585440N, at 1890m elevation, and was drilled at an orientation of 360/-65 degrees for a total 602.0 metres. QAP-DDH-017 was collared in the northern regions of the La Cumbre porphyry body and was drilled to the north to test the northern extension of the mineralization. This hole initially drilled through alternating medium grained quartz diorite porphyry until approximately 398.0 metres, after which, basalt was cut until the end of the hole. Mineralization was mostly pyrite and magnetite as disseminations and within veinlets with trace amounts of chalcopyrite.

Drill Hole QAP-DDH-020

This hole was collared at 420717E, 585300N, at 1908m elevation, and was drilled at an orientation of 110/-65 degrees for a total 75.0 metres. QAP-DDH-020 was collared on the western edge of the La Cumbre mineralized area and reported 0.81 g/t and 0.10% Cu from 2.0m depth to 21.4m. This hole was shut down due to complications in the hole.

Drill Hole QAP-DDH-022

This hole was collared at 420910E, 585526N, at 1898m elevation, and was drilled at an orientation of 180/-65 degrees for a total 590.10 metres. QAP-DDH-022 was drilled within the northern region of La Cumbre porphyry and drilled to the south. This hole tested the mineralization potential within a larger area that was defined by drill holes QAP-DDH-011 and QAP-DDH-017. This hole drilled through predominantly alternating fine to medium grained quartz diorite porphyry.

Drill Hole QAP-DDH-023

This hole was collared at 420717E, 585300N, at 1908m elevation, and was drilled at an orientation of 110/-65 degrees for a total 601.50 metres. QAP-DDH-023 was drilled on the same platform and orientation as QAP-DDH-020. It was designed to complete what QAP-DDH-020 could not complete. QAP-DDH-023 completed the targeted depth of the hole and drilled through mostly medium grained quartz diorite porphyry with occasional fault zones.

Darren Anderson, P.Geo, the independent 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, President & CEO

Batero Gold Corp.

About Batero Gold:

Batero Gold Corp. (TSX VENTURE: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:

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 relate to, among other things: [the timing and scope of expected diamond drilling; the timing of the delivery of a resource estimate on the Batero-Quinchia project; potential existence and size of mineralization within the Batero-Quinchia project; timing of receipt of permits and regulatory approvals; the sufficiency of the Company's capital to finance the Company's operations; geological interpretations and potential mineral recovery processes].

Forward-looking statements or 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, including, without limitation, risks relating to: [fluctuations in the spot and forward price of gold or certain other commodities; changes in national and local government legislation, taxation, controls, regulations and political or economic developments in Canada, Colombia or other countries in which the Company may carry on business in the future; the uncertainties involved in interpreting geological data; business opportunities that may be presented to, or pursued by, the Company; operating or technical difficulties in connection with mining activities; the speculative nature of gold exploration and development, including the risks of obtaining necessary licenses and permits; diminishing quantities or grades of reserves; and contests over title to properties, particularly title to undeveloped properties. In addition, there are risks and hazards associated with the business of gold exploration, development and mining, including environmental hazards, industrial accidents, unusual or unexpected formations, pressures, cave-ins, flooding and gold bullion losses (and the risk of inadequate insurance, or the inability to obtain insurance, to cover these risks)].

This list is not exhaustive of the factors that may affect any of the Company's forward-looking statements or information. Forward-looking statements or information are statements about the future and are inherently uncertain, and actual achievements of the Company or other future events or conditions may differ materially from those reflected in the forward-looking statements or information due to a variety of risks, uncertainties and other factors, including, without limitation, those referred to in the Company's Filing Statement dated as of June 22, 2010 under the heading "Risk Factors". Although the Company has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be as anticipated, estimated, described or intended. Accordingly, readers should not place undue reliance on 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 and information if circumstances or management's assumptions, beliefs, expectations or opinions should change, or 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."

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