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Batero Gold Corp.
Summary
| Project: | Batero-Quinchia | |
|---|---|---|
| Deposit: | La Cumbre | |
| Location: | Colombia | |
| Commodities: | Gold-Silver | |
| Date: | 11/9/2018 | |
| Report Code: | NI43-101 | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 9-11-2018: Batero Gold Corp. announces a Resource Estimation report for its La Cumbre deposit at the Batero-Quinchia project. Updated mineral resource estimate at La Cumbre. Linares Americas Consulting S.A.C. (LINAMEC) was retained by Batero Gold Corp. (B | |
| Resources: | (Resource, M+I): 24.853Mt @ 0.717g/t Au, 1.768g/t Ag for 573Koz Au, 1.42Moz Ag | |
| CP/QP: | [Resources]: Edgard Vilela Acosta (Linares Americas Consulting S.A.C.) | |
| ABSTRACT: | Linares Americas Consulting S.A.C. (LINAMEC) was retained by Batero Gold Corp. (Batero) to prepare an update of the mineral resource estimate for the La Cumbre gold project (the Project) located in the Department of Risaralda, Colombia. The purpose of this report is to provide an update of the mineral resources at the Project following additional drilling carried out on the Project since the previous resource estimate in 2013. This technical report conforms to NI 43-101 Standards of Disclosure for Mineral Projects. This new resource estimate incorporates the results of forty drill holes totalling 4,574.16 m drilled in 2016 – 2017 in the area known as “La Cumbre.” The aim of this drilling campaign was to evaluate the oxide and transitional mineral zones and to update the mineral resource estimation of the La Cumbre deposit for the oxide and transitional zones. The present mineral resource estimate does not include the resources of the primary sulfide zone. 1.2 PROPERTY DESCRIPTION, OWNERSHIP AND HISTORY Information in this section has been extract and updated from Evans et al. (2013). The Batero-Quinchia property comprises one exploration licence and two concession contracts in a contiguous block totalling 1,407.3 ha, located within the Municipality of Quinchia, Department of Risaralda, Colombia. The property is located on the IGAC Planchas 186-IV-6 and 205-II-A topographic maps (1:25,000 scale), within a rectangular area extending for approximately 6.3 km in an east-west direction and 5.4 km in a northsouth direction. The Universal Transverse Mercator (UTM) co-ordinates for the approximate centre of this area are 422,500mE, 584,500mN (WGS-84, Zone 18N). The licences that comprise the Quinchia property were initially acquired by Juan David Uribe Hurtado and Silvia Stella Rios Martinez in 1998. The property was optioned to AngloGold Ashanti (AGA) in 2005. In November 2007, Caribbean Copper and Gold Corporation (Caribbean) entered into an agreement with AGA whereby it could earn a 100% interest in the property. Caribbean assumed AGA’s responsibilities with respect to the underlying agreement. In 2009, Caribbean and AGA terminated the option agreement and the property reverted to the vendors. In 2010, Batero acquired the Quinchia property through its acquisition of all the issued and outstanding shares of Bahia, as described under Land Tenure. Artisanal mining has taken place in the Batero-Quinchia property area from PreColombian to modern times. Artisanal gold production in the area was greatest during the 1950s. Interest was renewed in the area in the late 1970s and culminated in the 1980s in the Miraflores area with the “Association de Mineros de Miraflores”, a local artisanal mining cooperative. | |
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