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Project
Batero-Quinchia Project
Overview
The Batero-Quinchia Project encompasses multiple porphyry gold target centres that have been early stage drill tested in 2006. Three historic Miocene intrusive centers have been identified, spaced out over a 3km north-south strike length trend, and are at elevations between 1600m and 1950m. These intrusive centres are composed of dykes and stocks emplaced in intermediate to felsic volcanic rocks of the Miocene Combia Formation and in Cretaceous basalts. All target centres host gold and copper mineralization. Additional targets have been identified from the Company's Phase 1 field program comprising field mapping and geochemical and geophysical programs.
The Batero-Quinchia Project is located within the Municipality of Quinchia, Department of Risaralda, Republic of Colombia, approximately 55 kilometres to the north of the regional capital, Pereira. The property consists of a 1,407.43 hectare tenement and is supported with full infrastructure including roads, water and power. The Municipality of Quinchia is recognized as a stable and secure social and political environment.
All of the mineralized zones encountered to date, together with the Amarilla Structural Corridor's epithermal gold mineralization, are part of a large, regional mineralizing system/mineral district covering more than 300 hectares. This district's recognized core extends over two kilometres from La Cumbre through the "El Centro" Zone (Manzanillo, La Lenguita, and El Cedral target areas) to Dos Quebaradas. Further, Batero's new exploration drilling discovery at Matecana, located approximately 800 meters SE from La Cumbre porphyry, indicates the district has strong potential to be expanded with further drilling. The potential successful expansion of new mineralization from Matecana to La Cumbre would further extend the North to South strike length of the project's gold-copper mineralization to approximately 3 kilometres.
Progress is advancing aggressively. On the ground, however, Batero is doing more than just explore. We are also investing in environmental and social programs to help build positive relationships with local communities and ensure the sustainability of the company's long-term objectives.
The Middle Cauca Belt hosts two significant gold deposits: Marmato (12.4 million ounces of gold contained; Gran Colombia - located approximately 20 kilometre's north of the Batero-Quinchia Project) and La Colosa (16.27 million ounces of gold; AngloGold Ashanti -- located approximately 100 kilometre's SSE of the Batero-Quinchia Project). This belt is also host to other significant porphyry gold deposits including Titiribi, La Mina, and Quebradona.
Colombian Gold Belts and Districts:
Current Program
The Company has completed its 55,755 metre drill program 2011 diamond drill program on time and on budget. The Company anticipates receiving final drill results from the entire 2011 drill program during December, 2011 and will verify these results once received. The Company will build upon 2011's successful field exploration and diamond drill program by strategically expanding the near and at surface higher grade gold mineralization at La Cumbre porphyry that remains open in all directions, and the Company will define the size and extent of the near surface high grade gold epithermal mineralization in and adjacent to the Amarilla Structural Corridor, which is contiguous to the eastern boundary of La Cumbre porphyry. This high priority target is over 3 kilometres in length, ranges from 200m to 400m wide, and strikes NNW-SSE across the Company's concessions. Significant 2011drill hole highlights in the Corridor include QAP-DDH-034 intersecting from 9.80 metres below surface (inclined 60 degrees) 5.80 metres grading 11.42 g/t gold.
Further to defining the higher grade gold oxidation zone, in 2012 the Company will test the continuation of this mineralized horizon to the east beyond the eastern contact of La Cumbre porphyry past the Amarilla Structural Corridor to an under explored area called El Cedral. Initial prospecting in this area confirms an extensive oxidation horizon with anomalous gold-in-soil anomalies.
The Company will continue to evaluate all data received from the 2011 diamond drill program to finalize a focused follow-up drill program both to expand the initial resource and to work towards defining future mineral reserves. The areas to be included are the Matecana porphyry target in the south, La Cumbre porphyry, the El Centro Zone and the Dos Quebradas porphyry in the north; these mineralized centres occur within an area of an approximate and continuous N-S strike length greater than 2.8 kilometres by 1.5 kilometres E-W.
The Company anticipates finalizing its initial resource estimate by the end of the year, and will publish its first independent resource estimate report by Roscoe Postle Associates Inc. in early 2012. The mineral resource estimate report will comprise approximately 60,000 metres of diamond drilling and include the results from the Company's initial metallurgical test work prepared by G&T Metallurgical Services.
All drill target areas (see Map below) are confined to within a 2.8 km x 1.5 km E-W area and are at elevations between 1600m and 1950m.
