Batero Gold Completes Geophysical Survey and Provides Exploration Update
-- Posted Wednesday, 5 January 2011 | Digg This Article | | Source: GoldSeek.com
VANCOUVER, BRITISH COLUMBIA - January 5, 2011 - Batero Gold Corp. (TSX-V: BAT) is pleased to provide an exploration update at the Batero-Quinchia project in Risaralda department, Colombia.
The Company is currently on Diamond Drillhole ("DDH") number eight. There are currently three drill rigs in operation at the Project, the fourth has been mobilized, and is in final stages of set up. Two rigs are drilling at La Cumbre, a third is drilling at La Lenguita and the fourth will be drilling at Matecaña.
The core from the initial drill holes is being logged, split and samples sent to the assay lab for independent analysis. The Company is awaiting receipt of initial assay results and once received a news release on assay results can be issued.
The Company has just recently completed its ground-based IP, radiometric, and magnetometry surveys. This work program included the completion of 57 line kilometres of geophysical profiling on a 50-metre line-spaced grid covering approximately 40% of the Batero-Quinchia Project including three known porphyry centres - La Cumbre, Manzanillo-Mandeval, and Dos Quebradas (Figure 1).
Initial magnetic data interpretation suggests the largest Reduced to the Pole ("RTP") Total field magnetic anomaly highs are located in the southern region of the study area, in La Cumbre and Matecaña sectors. These anomalies can possibly be attributed to mineralized diorite porphyry intrusive bodies located in this area. Intermediate anomaly highs are observed in the central region in the Manzanillo-Mandeval, La Lenguita and El Cedral. These anomalies can also be possibly attributed to mineralized diorite porphyry intrusive bodies. The smallest magnetic anomaly highs are located in the northern region in Dos Quebradas and La Lenguita-San Luis. (Figure 2).
The Induced Polarization (IP) survey has been useful in outlining sulphide distribution in porphyry deposits related to chargeability anomaly highs. The survey identified few major chargeability highs and few discontinuities at depths from 170m to 310m and several small chargeability highs and several discontinuities at depths from 20m to 100m depth. These chargeability highs and discontinuities possibly suggest that the diorite porphyry intrusion has been intensively fractured and that sulphide mineralization has been emplaced along these fracture zones. Figures 3 and 4 show Chargeability at 170m and 310m depth, respectively.
According to preliminary results, approximately 40% portion of the Batero-Quinchia mining project covered by the induced polarization survey has the potential to host porphyry style alteration zones and sulphide zones.
A radiometric survey was also conducted in conjunction with the IP and Magnetic survey to potentially capture alteration signatures that may be related to altered porphyry bodies. A total of 5417 radiometric stations were acquired along 24 north-south line profiles. Maps processed from the data include: total count; potassium; equivalent uranium; and equivalent thorium (see Figure 5 - Natural Source Spectrometry (Th/K x 10-4).
Additional processing and interpretation is currently being conducted to include 3-D magnetic and IP inversion modeling and target identification will follow after the final processing is complete.
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 deposits including Titiribi, La Mina, and Quebradona.
Darren Anderson, P.Geo, the qualified person for the Company, has reviewed the accuracy of the technical portion of the news release.
ON BEHALF OF THE BOARD OF
BATERO GOLD CORP.
Brandon Rook
Brandon Rook, President & CEO
Batero Gold Corp.
For further information please contact: Batero Gold Corp. Tel: 604.568.6378 or info@baterogold.com
About Batero Gold:
Batero Gold Corp. (TSX-V: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.
-- Posted Wednesday, 5 January 2011 | Digg This Article | Source: GoldSeek.com
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