Batero Gold Corp.
TSX VENTURE : BAT

Batero Gold Corp.

March 07, 2011 08:31 ET

Batero Gold Intersects 460.00 Metres Grading 0.70 g/t Gold and 0.12% Copper Including 261.00 Metres of 1.00 g/t Gold and 0.16% Copper Starting From 10 Metres Below Surface

VANCOUVER, BRITISH COLUMBIA--(Marketwire - March 7, 2011) - Batero Gold Corp. (TSX VENTURE:BAT) today announced the latest drill results from the company's Phase 1 - 16,000-metre drilling campaign at the company's 100-per-cent-owned Batero-Quinchia project in Risaralda Department, Colombia.

Significant highlights include:

Hole From (m) To (m) Length Au (g/t) Cu (%)
QAP-DDH-009 10.00 470.00 460.00 0.70 0.12
including 10.00 91.00 81.00 1.40 0.15
including 10.00 223.70 213.70 1.11 0.17
inlcuding 10.00 271.00 261.00 1.00 0.16
           
QAP-DDH-010 no significant values
           
QAP-DDH-011 7.50 415.00 407.50 0.64 0.13
including 7.50 89.00 81.50 1.00 0.15
including 7.50 162.00 154.50 0.80 0.14
 
*Interval lengths represent down-hole distance and not true width.
 
*Maps, drill hole profiles for hole 9 and 11 and all other drill holes at La Cumbre, and drill core photos may be viewed at www.baterogold.com in the project section of the website.

Drill hole QAP-DDH-011 results for the final 118 metres (from 415.0m – 533.0m) are still pending; results will be reported once received, verified and analyzed.

"The results from drill holes 9 and 11 further confirm evidence of a significant deposit developing at La Cumbre. Most significant, the 261 metres of drill hole 9 is grading at 1.00 grams of gold per tonne and 0.16% copper," said Brandon Rook, President and CEO. "We will continue to work aggressively to complete our Phase 1 drill program by the end of Q2 and anticipate publishing a compliant updated NI 43-101 resource later this year."

These holes, especially QAP-DDH-009 and 011 have shown two important aspects of exploration at La Cumbre porphyry: the mineralization appears to be continuous in the area immediately surrounding QAP-DDH-009 and begins to show the potential of a higher grade zone within the La Cumbre porphyry; and the mineralization is expanding to the north as shown by QAP-DDH-011.

This area remains open towards the NNW and SE. The exact extension and geometry of the mineralized porphyry system will be continually defined with systematic exploration drilling.

Batero's fully funded drill program consists of 4 drills operating 24/7. The company's goal is to define the mineralized extent of two gold and copper porphyry centres previously identified in 2006-07, and to explore newly discovered targets.

Currently four drills are on site with two being used to delineate and further explore the company's La Cumbre porphyry. So far, a total of 16 diamond drill holes have been completed at La Cumbre by Batero.

Batero is using a third drill at La Lenguita target – a new exploration target area discovered by Batero. Considered a top priority, La Lenguita is situated 500m northeast of the La Cumbre target area.

A fourth drill is approaching the completion of its first hole at Batero's other high-priority and new exploration target at Matecana, located 340 metres lower in elevation and one kilometre southeast of the La Cumbre porphyry.

The fifth drill will target a new area at Manzanillo, a site approximately 500 metres north of La Cumbre porphyry identified recently by Batero's geophysics and geochemical program. The drill is currently being mobilized.

Batero commenced its phase 1 – 16,000-metre – drill program in late October 2010. The company has drilled, as of March 5, a total of 9826.45 metres over a total of 21 holes.

The company anticipates a total of eight drill rigs to be in operation over the coming months.

Drill Hole Summary

(Click here to view drill profiles and location map)

Hole QAP-DDH-009

This hole was collared at 421000E, 585375N, at 1866m elevation, and was drilled at an orientation of 160/-65 degrees for a total of 479.9 metres. This hole was drilled to the southeast to confirm mineralization extends between previously drilled holes QAP-DDH-002 and QAP-DDH-008, which covers a horizontal distance of approximately 170.0 metres. The hole mainly drilled through variably fractured quartz diorite porphyry and hydrothermal breccias. Mineralization is composed mostly of stockwork veining composed of A and B-type veinlets of variably density and disseminated pyrite and magnetite with trace amounts of chalcopyrite and molybdonite. Chloritic and biotitic alteration is dominant with more abundant silicification at the top of the hole. (Click here to see drill hole profile).

Hole QAP-DDH-010

This hole was collared at 421180E, 585530N, at 1871.2m elevation, and was drilled at an orientation of 340/-65 degrees for a total of 201.05 metres. This hole was drilled to the northeast to investigate an area where favourable geochemical surface samples were collected within La Angelica creek area and was drilled off the same platform as QAP-DDH-006. From top to bottom this hole drilled predominantly through clast supported hydrothermal breccia.

Hole QAP-DDH-011

This hole was collared at 420964E, 585446N, at 1877.0m elevations, 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, 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. (Click here to see drill hole profile).

Batero Gold will be exhibiting at the Prospectors and Developers Association of Canada Convention 2011, and would like to invite all to visit Booth #3341 in the Investors Exchange.

For further information about the PDAC please visit: http://www.pdac.ca/pdac/conv/index.aspx

The Batero-Quinchia Project is located in the prolific Middle Cauca Belt which hosts two gold deposits: Marmato deposit (Medoro Resources) located approximately 20 kilometres north of the Batero-Quinchia Project and La Colosa deposit (AngloGold Ashanti) located approximately 100 kilometres south of the Batero-Quinchia Project. This belt is also host to other recognized porphyry gold and copper deposits including Titiribi, La Mina, and Quebradona.

Darren Anderson, PGeo, the 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: This press release contains forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words expects, plans, anticipates, believes, intends, estimates, projects, potential and similar expressions, or that events or conditions will, would, may, could or should occur. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in forward looking statements. Forward-looking statements are based on the beliefs, estimates and opinions of the Company's management on the date such statements were made. The Company expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise.

"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."

Contact Information