Batero Gold (CVE:BAT) announced Friday the start of its 2012 diamond drill program at its La Cumbre deposit, part of the company’s Batero-Quinchia gold project in the department of Risaralda, Colombia.
The drill program is planned to include a minimum 2,000 metres and up
to 6,000 metres of diamond drilling, including infill, step-out,
metallurgical and geotechnical drilling.
The work plan will begin with a single drill rig and will add in a second rig as required.
La Cumbre is one of the three porphyry deposits at the
Batero-Quinchia project, and the company said the drill program is part
of the 2012 to 2013 work program designed to advance the deposit toward a
The program will test for the most efficient and cost effective leach
processing circuit initially targeting the near and at surface
higher-grade oxidized gold mineralization.
The project has an initial NI 43-101 resource estimate of 3.5 million
ounces of indicated gold and 2.6 million ounces of inferred gold. The
open pit resource estimate is based on a 0.16 grams per tonne (g/t) cut
off, with 70 per cent of the project remaining unexplored.
The drill program will target infill drilling to upgrade the
indicated mineral resources at La Cumbre to the NI 43-101 compliant
measured mineral resource category, and will evaluate potential
extensions of the mineral resources.
Existing drill spacing suggests the likelihood that only limited
drilling may be required to upgrade the oxidized mineralization to a
measured resource category, said Batero.
Highlights from the La Cumbre deposit include at and near surface
oxidized gold mineralization grading greater than 1.0 g/t gold in the
central core of the deposit, and lateral and vertical continuity of gold
Initial gold recovery results at La Cumbre range from 91 to 94 per
cent in oxide material, and that topography and location of gold
mineralization support a low strip ratio.
The company also discussed further details of its 2012-2013 work
program last week, including comprehensive metallurgical testing,
geotechnical studies, environmental studies, social baseline studies and
permitting, which will determine the optimum starter pit production
The miner said that it will do step-out drilling to potentially
increase oxidized mineralization at La Cumbre’s starter pit location,
and additional metallurgical testing, including column leach tests to
determine the optimum process flow sheet and to provide additional
Batero has full ownership of surface rights over the La Cumbre
deposit and as it owns 100 per cent of the project, there are no net
smelter royalties or back-in rights.
Earlier in July, the company announced that its board approved a
shareholder rights plan agreement to protect the company from hostile
Batero is a Canada-based exploration company focused on the
exploration and development of its mineral property interest in
Shares traded at 45 cents Friday morning.