You are here
Batero Gold Engages Consultant For Initial Ni-43-101 Resource Estimate And Provides Project Update
VANCOUVER, BRITISH COLUMBIA -- November 19, 2010 - Batero Gold Corp. (TSX-V: BAT) is pleased to advise that it has engaged the services of Scott Wilson Roscoe Postle Associates Inc. (Scott Wilson RPA) to prepare the Company's initial NI-43-101 compliant resource estimate. Scott Wilson RPA will carry out a comprehensive Quality Assurance/Quality Control and data review program for the Batero-Quinchia Project and will follow-up by preparing a NI 43-101 Technical Report based on the results of the current drilling program. Batero is pleased to be working with a Company that is considered the leader in its field of work. Scott Wilson RPA's geologist is currently on site at the Project.
The Company's Phase 1, 16,000 metre, four drill rig program is proceeding on schedule. The first drill hole has been recently completed and is considered a delineation drill hole collared approximately 150 metres ESE from the eastern most historic drill hole completed in 2006 at La Cumbre porphyry. The Company has targeted average drill hole depths for the Phase 1 drill program at 350 metres with several drill holes planned to drill 1,000 metre's to test the vertical extent of La Cumbre porphyry. The first drill hole was programmed to a depth of 350 meters but the Company decided to extend the depth to the drill rig's capacity of 600 meters. Drill results are anticipated to be released shortly. Currently two drill rigs are in operation at the Project with the third and fourth drill rigs scheduled to arrive over the next month. Phase I is scheduled to be completed within four months of mobilization of all four drill rigs to the Project.
In addition, the Company's Project-wide auger drilling soils' program is nearing completion. Channel sampling and trenching is ongoing. The total number of samples collected to date is in excess of 1000. Further, the ground based geophysical program (see October 12, 2010 press release) is also nearing completion targeting the Company's multiple prospective targets and porphyry target centres defined from the historic 2006 drill program. A summary of results are pending and will be released once received, verified and evaluated.
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.
For further information please go to our website at www.baterogold.com.
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 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.