Batero Gold Reports Announces Update on La Cumbre Project - Oxide Zone
Vancouver, 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.
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.
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.
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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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