"Gosh, Batman, this camel grass juice is great." – Robin, Batman (TV series). Shares of Batero, a junior miner focused on the Batero-Quinchia copper-gold project in Colombia, have been on fire since February 17 (up more than 50%) when the company released the results from an additional five drill holes completed at the La Cumbre zone of its project. The most significant result was returned from Hole 8, which returned 592 metres grading 0.72 g/t gold and 0.13% copper. This hole effectively doubles the depth extension of the porphyry mineralization compared with the drilling completed by AngloGold (AU) in 2006.
This hole also, importantly, demonstrates the potential for a near surface high-grade zone of mineralization at La Cumbre.
Included in the 592-metre intercept is a 178 metre interval of 1.0 g/t gold and 0.15% copper (from 8-186 metres) as well as a 528-metre interval of 0.80 g/t gold and 014% copper (from 8-528 metres). This is the best drill hole returned to date from the Batero Quinchia project. Two drills are working on delineating the La Cumbre porphyry and testing for extensions of the porphyry mineralization. A third drill rig is testing the La Lenguita zone, located 500 metres northeast of the La Cumbre target area. Drill Hole 14 (assays yet to be reported) has tested the La Lenguita target with assay results expected shortly. Batero indicated that initial visual observations from the current drill hole indicate that gold mineralization is present. Given that this is an entirely new target that was never drilled by AngloGold, this would add another dimension to Batero-Quinchia. The fourth drill rig active at Batero-Quinchia is testing the Matecana zone, another new target area that was never drilled by AngloGold.
Additional drill results from La Cumbre as well as initial drill results from the La Lenguita and Matecana targets are expected tobe reported over the next week or two.
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