Batero Gold Reports Announces Update on La Cumbre Project - Oxide Zone
Batero Gold Reports Announces Update on La Cumbre
Project - Oxide Zone
Vancouver, British Columbia--(Newsfile Corp. - March 1, 2019) -
Batero Gold Corp. (TSXV: BAT) (FSE: 68B) (OTC:
BELDF)
("Batero,"
The
"Company")
is pleased to give an update on the La Cumbre - Oxide Zone, which is part of the
Batero-Quinchía project (the "Project") 100% owned by the Company and located in the department of Risaralda, Colombia.
Exploration of the oxide zone continues in sectors adjacent to the La Cumbre deposit, with a systematic geochemical survey in
the La Cumbre Sur sector. A total of five rock samples, ten soil samples and twelve samples in trenches were collected during
the last quarter of 2018.
The analysis of the results obtained from the different samples collected shows that the anomaly continues to be present in the
La Cumbre Sur sector, where development of the oxide zone with potential to concentrate gold and silver mineralization is
observed.
SAMPLE_ID
SAMPLE_TYPE
AU_PPM
AG_PPM
MQ-7310
AUGER
0.02
0.33
MQ-7312
AUGER
0.101
0.11
MQ-7313
AUGER
0.209
0.1
MQ-7314
AUGER
0.142
0.19
MQ-7315
AUGER
0.276
0.29
MQ-7316
AUGER
0.247
0.41
MQ-7317
AUGER
0.515
0.4
MQ-7318
OUTCROP
0.208
1.15
MQ-7319
OUTCROP
0.273
0.95
MQ-7320
OUTCROP
0.212
1.16
MQ 7321
OUTCROP
0.05
0.75
MQ 7322
OUTCROP
0.362
1.48
MQ 7323
OUTCROP
0.22
0.69
MQ 7324
OUTCROP
0.034
0.11
MQ 7326
OUTCROP
0.009
0.08
MQ 7327
TRENCH
0.263
1.13
MQ 7328
TRENCH
0.223
0.95
MQ 7329
TRENCH
0.104
0.6
MQ 7331
TRENCH
0.599
0.76
MQ 7332
TRENCH
0.389
0.58
MQ 7333
TRENCH
0.095
0.11
MQ 7334
TRENCH
0.143
0.08
MQ 7335
TRENCH
0.114
0.13
MQ 7337
TRENCH
0.161
0.12
MQ 7338
TRENCH
0.114
0.07
MQ 7339
TRENCH
0.102
0.12
MQ 7340
TRENCH
0.339
0.25
Table 1. Surface sampling results of Cumbre Sur Zone
Figure 1. Geochemical sampling location La Cumbre Sur
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The company Geo-Logic-Peru SRL (GLP) presented conceptual results of phase 1 and 2 of studies carried out on technical and
socio-environmental characterization of the different alternatives for locating areas for the main infrastructure of the project (leach
pads and dumps). A total of 12 possibilities were identified, of which five were chosen for the purpose of advancing with more
detailed studies to define the location of the project infrastructure.
The Peruvian company METTS Metallurgical Testing Services Company presented the results of metallurgical tests carried out
on samples from the oxide zone and the transitional zone from La Cumbre deposit. It is important to note that these first tests are
experimental, and the results obtained should be considered preliminary. Additional optimization tests will be required to
complete the program before moving on to a higher-level study.
The main conclusions of the results achieved are as follows:
The gold and silver recoveries reached for the mineralized material range from 88% to 92% for gold and 45% to 69% for
silver, for 40 days of leaching.
The best gold recoveries were achieved by reducing the particle size from 3" to 1".
Reagent consumption (lime and cyanide), are on the order of 1.0 to 1.4 Kg / ton for cyanide and 1.5 Kg per ton for lime.
The irrigation period is reduced from 42 to 30 days when working with a finer grain size, resulting in an industrial operation
of about 24 days of irrigation.
The elements that accompany the oxidized mineral do not present major damage to the dissolution of gold and silver since
they do not produce excess consumption of lime or cyanide reagents, the analysis of head and tailings indicates little
dissolution of elements such as As, Pb, Cu, Zn, S and Fe.
The mineralized oxide material has low permeability for the passage of solutions through the mineralized material.
Therefore cement / lime / water must be used to achieve a permeable agglomerate.
Work on the Environmental Impact Study continues and, from the technical and socio-environmental analysis of the different
feasible alternatives, the area of influence of the La Cumbre Project has been identified and classified according to the General
Methodology for Elaboration and Presentation of Environmental Studies of the ANLA - National Environmental Licensing
Authorization. At present, the environmental characteristics and restrictions of the Piedras and Mandeval basins, their
subterranean and superficial water resources are known. Likewise, the present terrestrial flora and their relationship with other
species and ecosystems have been identified. At the same time, during the collection of this information, engagement with the
communities has been carried out in order to establish their relationship with the territory, their customs, organizations,
economic and cultural activities, and finally to classify the ecosystem services from which they benefit.
QA/QC Procedure
Core is collected, logged (geological & geotechnical), cut and sampled at Batero's drilling camp in the project area. All quality
control ("QC") samples are introduced before shipment to ALS Minerals' sample preparation facilities in Medellin, Colombia.
The prepared samples are then shipped to ALS Minerals' analytical facilities in Lima, Peru for analyses. Gold is fire-assayed
using a 50 gram aliquot sample and Atomic Absorption finish. Multi- element analysis is achieved by Four Acid Digestion and
an Induced Coupled Plasma- Emission Spectroscopy 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, with each batch comprising 12% of
such samples. Monitoring of these QC samples is a critical part of Batero's QA/QC protocols that involve the re-analysis of a
minimum of 10 samples bounding any failed control sample. A third-party check laboratory receives 5% of all samples to verify
the original assays.
Roger Moss, Ph.D., P.Geo., consultant to Batero, is the qualified person as defined by National Instrument 43-101 and has
reviewed and approved the technical information provided in this news release.
ON BEHALF OF THE BOARD OF BATERO GOLD CORP.
Gonzalo de Losada President and CEO Batero Gold Corporation
For further information, please contact:
Michael Mills
Tel: 604.568.6378 or
Email:
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 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 news 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: grades on the Project; scope of mineralization
within the Project; results of exploration activities; receipt and/or timing of required permits and regulatory approvals; the
Company's objectives with respect to advancement of the Project and acquisition of prospective high-grade, production-focused
mineral properties in Colombia and Latin America; scope and results of EIA; the sufficiency of the Company's capital to finance
the Company's operations; and geological interpretations and potential mineral recovery processes.
The Company's actual results could differ materially from those anticipated in forward-looking statements and information.
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, including,
but not limited to, the following: uncertainty of whether there will ever be development or production at the Company's mineral
exploration properties; geological, technical, drilling or processing problems; liabilities and risks, including environmental
liabilities and risks, inherent in mineral exploration and development; fluctuations in currency exchange and interest rates;
incorrect assessments of the value of acquisitions; unanticipated results of exploration activities; competition for, among other
things, capital, undeveloped lands and skilled personnel; lack of availability of additional financing and/or joint venture partners;
unpredictable weather conditions, as well as those other risk factors described under the heading "Financial Instruments and
Other Risk Exposures" set forth in the Company's management's discussion and analysis.
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 news release, including, but not limited to, that the results of planned exploration activities
are as anticipated, the price of metals, the anticipated cost of planned exploration activities, that general business and
economic conditions will not change in a material adverse manner, that financing will be available if and when needed and on
reasonable terms, and that third party contractors, equipment and supplies and governmental and other approvals required to
conduct the Company's planned exploration activities will be available on reasonable terms and in a timely manner. 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.
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