Project

Batero is evaluating a high grade development opportunity at La Cumbre porphyry deposit in the southern area of the Quinchia project

Mineralization at Quinchia occurs within a cluster of gold porphyry deposits – the La Cumbre, El Centro and Dos Quebradas porphyries – which extends over a continuous zone of mineralization approximately two kilometres in strike length by 600 metre in width.

The mineral resources at Quinchia contain 3.5 million ounces of gold in the indicated resource category ( 248.5 million tonnes averaging 0.44 g/t gold ) and 2.6 million ounce of gold in the inferred mineral resource category ( 242.4 million tonnes averaging 0.33 g/t gold ) as reported in the initial mineral resource estimate reported in February 2012 (see Quinchia mineral resource estimate). 

The mineral resources are defined by a Whittle pit and associated economic parameters.  Additional mineralization is identified in a gold envelope that surrounds the resource estimate. Based on mineralization already intersected in the immediate vicinity of the resource, the gold envelope is in the range of 100 million tonnes to 400 million tonnes of mineralization averaging 0.25 g/t gold to 0.45 g/t gold.  The potential quantity and grade is conceptual in nature and there has been insufficient exploration to define a mineral resource.

The La Cumbre deposit, the southern-most porphyry deposit, contains a majority of the near surface high grade mineral resources and multiple targets have been identified to evaluate in an updated mineral resource estimate. There is a clear northwest-southeast mineralized trend at La Cumbre that may remain open beyond the Whittle pit and gold enevelope, and will be drill tested. Geophysical and geochemical anomolies associated with the La Cumbre deposit may also remain open to the south and will be evaluated