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Batero Gold Discovers New Zone Of Porphyry Mineralization
VANCOUVER, BRITISH COLUMBIA - September 09, 2010 - Batero Gold Corp. (TSX-V: BAT) is pleased to announce the discovery of a new porphyry target named Matecaña, located approximately 1 kilometre southeast of the Company's La Cumbre porphyry deposit's discovery drill hole #8, at the Batero-Quinchia Project, Department of Risaralda, Republic of Colombia.
The discovery was made from a reconnaissance exploration program located in the southeast sector of La Cumbre Sur. A linear chip sampling program was conducted and initial mapping indicates a similar diorite composition to La Cumbre porphyry deposit. This also is coincident with an approximate 400 metres x 500 metres magnetic anomaly (See Figure 1)
A total of 30 linear chip samples representing 60 metres were collected. Highlights from this sampling program include 24 continuous metres resulting in values ranging from 0.348 g/t gold to 1.035 g/t gold for a weighted average of 0.642 g/t gold, including 12 continuous metres with a weighted average of 0.812 g/t gold. The mineralization encountered has been interpreted to be within the core of the porphyry's potassic alteration. The rock is characterized by the presence of biotite and disseminated magnetite accompanied with dense stockwork and a composite of quartz veinlets, magnetite and pyrite.
The Matecaña porphyry is located at an elevation of 1610 metres, 340 metres in elevation below La Cumbre porphyry and 1 kilometre southeast from La Cumbre porphyry historical discovery diamond drill hole #8 which intersected mineralization from 6 metres below surface and ended in mineralization; this mineralized zone is represented by 276.65 metres grading 0.75 g/t gold and 0.14% copper (See Figure 2).
Matecaña is a high priority target area for the Company. The Company has started a systematic soil and rock sampling program coinciding with detailed geological mapping covering the magnetic anomaly located in this sector.
Brandon Rook, President and CEO stated, "We are pleased with this early discovery as we begin a detailed and systematic exploration program at our Batero-Quinchia Project. We will be following up this discovery with a systematic and focused work program followed by a targeted drill program. We are confident this is just the first of what we anticipate to be more discoveries at the project and that the project will yield significant returns over many years."
The Batero-Quinchia Project is located in the prolific Middle Cauca Belt which hosts two significant 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 Sunward's Titiribi, Belhaven's La Mina, and B2Gold's Quebradona.
For further information please go to our website at www.baterogold.com and the project section of the website for further information of the Matecaña porphyry.
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.
President & CEO
Batero Gold Corp.
For further information please contact:
Batero Gold Corp.
Tel: 604.568.6378 or
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 the right to earn a 100% ownership in the 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.
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