Batero Gold Corp TSXV:BAT announced the maiden resource estimate for its Batero-Quinchia project in Risaralda Department, Colombia. The project has indicated resources of 3.5 million ounces gold, 12.3 million ounces silver and 438 million pounds copper; it has inferred resources of 2.6 million ounces gold, 14 million ounces silver and 320 million pounds copper.
President/CEO Brandon Rook commented, “We are very pleased that after our first year of drilling we were able to establish a significant first indicated and inferred mineral resource estimate within the prolific Mid Cauca belt of Colombia. We look forward to take the next step by completing a preliminary economic assessment in a timely fashion. We are also excited about the continued exploration potential of the Batero-Quinchia project area for expansion of the La Cumbre-El Centro-Dos Quebradas porphyry cluster and also the exploration potential throughout the greater Quinchia property. We have significant mineralization intersected directly adjacent and underneath the pit shell, which is not included in the resource estimate. We look forward to growing the resource through drilling of multiple, high-priority exploration targets during 2012.”
Batero Gold Corp
by Ted Niles