Batero Gold Reports Updated NI 43-101 Resource Estimate at La Cumbre Deposit

Original announcement by tmx on

Company
Batero Gold Corp.
Ticker
BAT
Exchange
TSX
Region
Risaralda, Colombia
Primary commodity
Gold
Secondary commodities
Silver
Document categories
Resource update, Metallurgy
Extracted
2026-09-19 17:29:25 UTC

Analysis by Minestarters Atlas

Minestarters Atlas analysis

Summary

Batero Gold Corp. has reported an updated NI 43-101 mineral resource estimate for the La Cumbre Deposit in Colombia, totaling 24.85 Mt at 0.717 g/t gold and 1.768 g/t silver. The resource includes a significant measured component and is supported by metallurgical test work showing up to 92% gold recovery in the oxide zone.

Reasoning: The update establishes a substantial 24.8 Mt resource with a significant measured component, supported by promising oxide metallurgical results.

Positive factors

  • Significant measured resource established
  • High gold recovery (92%) in oxide test work
  • NI 43-101 compliant with QP sign-off

Negative factors

  • Resource is primarily Inferred (approx 36%)
  • Low grade (0.717 g/t Au average)

Facts used in scoring: 29

Classification and evidence

NI 43-101 Compliantpositive

Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.

Why it applies: The release explicitly states it is an updated NI 43-101 resource estimate prepared by a QP.

Evidence · text

“updated National Instrument 43-101 Measured, Indicated and Inferred mineral resource estimate”

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: Edgard Vilela, CP and MAusIMM is named as the Qualified Person.

Evidence · text

“The Qualified Person for the estimate is Mr. Edgard Vilela, CP and MAusIMM.”

Cut-off Disclosedpositive

Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.

Why it applies: Cut-off grades for oxide and transitional zones are explicitly stated.

Evidence · text

“Mineral Resources (Oxide) are reported using a 0.22 g/t Au cutoff grade.”

Inferred Resourcenegative

Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.

Why it applies: A significant portion of the resource is in the Inferred category.

Evidence · text

“Inferred Mineral Resources comprising 8.914 million tonnes”

Heap Leach Routeneutral

Processing via heap leach — lower CAPEX and OPEX, lower recovery expected.

Why it applies: the document describes a heap_leach route ("heap leaching")

Single Domain Onlynegative

Testing limited to one composite or domain — representativeness not established.

Why it applies: only one composite was tested

Extracted facts

Stored fact records: 29. Some facts used in scoring do not have a stored record.

Resource Estimates (28)

measuredLa Cumbre Deposit · goldTonnes: 20014332Grade: 0.759Grade Unit: g/tContained Metal: 488336Contained Unit: ozView all details
Link to this fact

Identity

Project
La Cumbre Deposit
Commodity
gold
Region
colombia
Reported Region
Risaralda, Colombia
Ticker
BAT

Resource scope

Estimate type
resource
Effective date
2018-09-12T00:00:00.000Z
Reporting standards
ni_43_101
QP Signed
Yes
Qualified person names
Edgard Vilela, Edgard A. Vilela Acosta
Resource group id
resource:4cfa70b273fc35bd2210
Deposit or zone
La Cumbre Deposit
Ownership percent
100 %

Resource Data

Category
measured
Tonnes
20014332
Grade
0.759
Grade Unit
g/t
Contained Metal
488336
Contained Unit
oz
Cutoff Grade
0.22
Cutoff Unit
g/t Au

Prior Estimate

Resource Date
2018-09-12

Review

Needs Review
No
Historical
No

Dates

Event date
2018-11-09T00:00:00.000Z

Reasoning: Strong measured component for the project.

Positive factors

  • High tonnage in measured category

Evidence · table

“0.759”

Context: 20,014,332

Tags used in scoring

Measured Resourcepositive

Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves.

Why it applies: category is "measured"

Cut-off Disclosedpositive

Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.

Why it applies: cutoff_grade is stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

NI 43-101 Compliantpositive

Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.

Why it applies: reporting_standards includes ni_43_101

measuredLa Cumbre Deposit · silverTonnes: 20014332Grade: 1.837Grade Unit: g/tContained Metal: 1189327Contained Unit: ozView all details
Link to this fact

Identity

Project
La Cumbre Deposit
Commodity
silver
Region
colombia
Reported Region
Risaralda, Colombia
Ticker
BAT

Resource scope

Estimate type
resource
Effective date
2018-09-12T00:00:00.000Z
Reporting standards
ni_43_101
QP Signed
Yes
Qualified person names
Edgard Vilela, Edgard A. Vilela Acosta
Resource group id
resource:4cfa70b273fc35bd2210
Deposit or zone
La Cumbre Deposit
Ownership percent
100 %

Resource Data

Category
measured
Tonnes
20014332
Grade
1.837
Grade Unit
g/t
Contained Metal
1189327
Contained Unit
oz

Prior Estimate

Resource Date
2018-09-12

Review

Needs Review
No
Historical
No

Dates

Event date
2018-11-09T00:00:00.000Z

Reasoning: Secondary metal reported alongside gold.

Evidence · table

“1.837”

Context: 20,014,332

Tags used in scoring

Measured Resourcepositive

Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves.

Why it applies: category is "measured"

Cut-off Undisclosednegative

High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff_grade was stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

NI 43-101 Compliantpositive

Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.

Why it applies: reporting_standards includes ni_43_101

indicatedLa Cumbre Deposit · goldTonnes: 4838786Grade: 0.546Grade Unit: g/tContained Metal: 84864Contained Unit: ozView all details
Link to this fact

Identity

Project
La Cumbre Deposit
Commodity
gold
Region
colombia
Reported Region
Risaralda, Colombia
Ticker
BAT

Resource scope

Estimate type
resource
Effective date
2018-09-12T00:00:00.000Z
Reporting standards
ni_43_101
QP Signed
Yes
Qualified person names
Edgard Vilela, Edgard A. Vilela Acosta
Resource group id
resource:2854ff68e221b35338fd
Deposit or zone
La Cumbre Deposit
Ownership percent
100 %

Resource Data

Category
indicated
Tonnes
4838786
Grade
0.546
Grade Unit
g/t
Contained Metal
84864
Contained Unit
oz
Cutoff Grade
0.22
Cutoff Unit
g/t Au

Prior Estimate

Resource Date
2018-09-12

Review

Needs Review
No
Historical
No

Dates

Event date
2018-11-09T00:00:00.000Z

Reasoning: Standard indicated resource component.

Evidence · table

“0.546”

Context: 4,838,786

Tags used in scoring

Indicated Resourcepositive

Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.

Why it applies: category is "indicated"

Cut-off Disclosedpositive

Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.

Why it applies: cutoff_grade is stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

NI 43-101 Compliantpositive

Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.

Why it applies: reporting_standards includes ni_43_101

inferredLa Cumbre Deposit · goldTonnes: 8914657Grade: 0.628Grade Unit: g/tContained Metal: 179876Contained Unit: ozView all details
Link to this fact

Identity

Project
La Cumbre Deposit
Commodity
gold
Region
colombia
Reported Region
Risaralda, Colombia
Ticker
BAT

Resource scope

Estimate type
resource
Effective date
2018-09-12T00:00:00.000Z
Reporting standards
ni_43_101
QP Signed
Yes
Qualified person names
Edgard Vilela, Edgard A. Vilela Acosta
Resource group id
resource:1d81e760d78f31b7292e
Deposit or zone
La Cumbre Deposit
Ownership percent
100 %

Resource Data

Category
inferred
Tonnes
8914657
Grade
0.628
Grade Unit
g/t
Contained Metal
179876
Contained Unit
oz
Cutoff Grade
0.22
Cutoff Unit
g/t Au

Prior Estimate

Resource Date
2018-09-12

Review

Needs Review
No
Historical
No

Dates

Event date
2018-11-09T00:00:00.000Z

Reasoning: Inferred resource component.

Negative factors

  • Inferred category limits economic confidence

Evidence · table

“0.628”

Context: 8,914,657

Tags used in scoring

Inferred Resourcenegative

Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.

Why it applies: category is "inferred"

Cut-off Disclosedpositive

Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.

Why it applies: cutoff_grade is stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

NI 43-101 Compliantpositive

Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.

Why it applies: reporting_standards includes ni_43_101

measuredTable 1 - 1 Total Mineral Resource Estimate for La Cumbre · goldTonnes: 20014332Grade: 0.759Grade Unit: g/tContained Metal: 488336Contained Unit: ozView all details
Link to this fact

Identity

Project
Table 1 - 1 Total Mineral Resource Estimate for La Cumbre
Commodity
gold
Ticker
BAT

Resource scope

Estimate type
resource
Effective date
2018-09-12T00:00:00.000Z
Reporting standards
ni_43_101
Resource group id
resource:56205905ede967c9b5b1
Ownership percent
100 %

Resource Data

Category
measured
Tonnes
20014332
Grade
0.759
Grade Unit
g/t
Contained Metal
488336
Contained Unit
oz

Review

Needs Review
No
Historical
No

Dates

Event date
2018-11-09T00:00:00.000Z

Reasoning: Expanded from multi-commodity resource table for completeness.

Negative factors

  • Fact expanded from resource table columns (model omitted this commodity).

Evidence · table

“0.759”

Context: 20,014,332

Tags used in scoring

Measured Resourcepositive

Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves.

Why it applies: category is "measured"

Cut-off Undisclosednegative

High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff_grade was stated

NI 43-101 Compliantpositive

Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.

Why it applies: reporting_standards includes ni_43_101

measuredTable 1 - 1 Total Mineral Resource Estimate for La Cumbre · silverTonnes: 20014332Grade: 1.837Grade Unit: g/tContained Metal: 1189327Contained Unit: ozView all details
Link to this fact

Identity

Project
Table 1 - 1 Total Mineral Resource Estimate for La Cumbre
Commodity
silver
Ticker
BAT

Resource scope

Estimate type
resource
Effective date
2018-09-12T00:00:00.000Z
Reporting standards
ni_43_101
Resource group id
resource:56205905ede967c9b5b1
Ownership percent
100 %

Resource Data

Category
measured
Tonnes
20014332
Grade
1.837
Grade Unit
g/t
Contained Metal
1189327
Contained Unit
oz

Review

Needs Review
No
Historical
No

Dates

Event date
2018-11-09T00:00:00.000Z

Reasoning: Expanded from multi-commodity resource table for completeness.

Negative factors

  • Fact expanded from resource table columns (model omitted this commodity).

Evidence · table

“1.837”

Context: 20,014,332

Tags used in scoring

Measured Resourcepositive

Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves.

Why it applies: category is "measured"

Cut-off Undisclosednegative

High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff_grade was stated

NI 43-101 Compliantpositive

Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.

Why it applies: reporting_standards includes ni_43_101

indicatedTable 1 - 1 Total Mineral Resource Estimate for La Cumbre · goldTonnes: 4838786Grade: 0.546Grade Unit: g/tContained Metal: 84864Contained Unit: ozView all details
Link to this fact

Identity

Project
Table 1 - 1 Total Mineral Resource Estimate for La Cumbre
Commodity
gold
Ticker
BAT

Resource scope

Estimate type
resource
Effective date
2018-09-12T00:00:00.000Z
Reporting standards
ni_43_101
Resource group id
resource:bdd71716d89a9e1e44db
Ownership percent
100 %

Resource Data

Category
indicated
Tonnes
4838786
Grade
0.546
Grade Unit
g/t
Contained Metal
84864
Contained Unit
oz

Review

Needs Review
No
Historical
No

Dates

Event date
2018-11-09T00:00:00.000Z

Reasoning: Expanded from multi-commodity resource table for completeness.

Negative factors

  • Fact expanded from resource table columns (model omitted this commodity).

Evidence · table

“0.546”

Context: 4,838,786

Tags used in scoring

Indicated Resourcepositive

Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.

Why it applies: category is "indicated"

Cut-off Undisclosednegative

High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff_grade was stated

NI 43-101 Compliantpositive

Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.

Why it applies: reporting_standards includes ni_43_101

indicatedTable 1 - 1 Total Mineral Resource Estimate for La Cumbre · silverTonnes: 4838786Grade: 1.485Grade Unit: g/tContained Metal: 232970Contained Unit: ozView all details
Link to this fact

Identity

Project
Table 1 - 1 Total Mineral Resource Estimate for La Cumbre
Commodity
silver
Ticker
BAT

Resource scope

Estimate type
resource
Effective date
2018-09-12T00:00:00.000Z
Reporting standards
ni_43_101
Resource group id
resource:bdd71716d89a9e1e44db
Ownership percent
100 %

Resource Data

Category
indicated
Tonnes
4838786
Grade
1.485
Grade Unit
g/t
Contained Metal
232970
Contained Unit
oz

Review

Needs Review
No
Historical
No

Dates

Event date
2018-11-09T00:00:00.000Z

Reasoning: Expanded from multi-commodity resource table for completeness.

Negative factors

  • Fact expanded from resource table columns (model omitted this commodity).

Evidence · table

“1.485”

Context: 4,838,786

Tags used in scoring

Indicated Resourcepositive

Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.

Why it applies: category is "indicated"

Cut-off Undisclosednegative

High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff_grade was stated

NI 43-101 Compliantpositive

Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.

Why it applies: reporting_standards includes ni_43_101

indicatedTable 1 - 1 Total Mineral Resource Estimate for La Cumbre · goldTonnes: 24853118Grade: 0.717Grade Unit: g/tContained Metal: 573200Contained Unit: ozView all details
Link to this fact

Identity

Project
Table 1 - 1 Total Mineral Resource Estimate for La Cumbre
Commodity
gold
Ticker
BAT

Resource scope

Estimate type
resource
Effective date
2018-09-12T00:00:00.000Z
Reporting standards
ni_43_101
Resource group id
resource:3a2f580c8a516d667d44
Ownership percent
100 %

Resource Data

Category
indicated
Tonnes
24853118
Grade
0.717
Grade Unit
g/t
Contained Metal
573200
Contained Unit
oz

Review

Needs Review
No
Historical
No

Dates

Event date
2018-11-09T00:00:00.000Z

Reasoning: Expanded from multi-commodity resource table for completeness.

Negative factors

  • Fact expanded from resource table columns (model omitted this commodity).

Evidence · table

“0.717”

Context: 24,853,118

Tags used in scoring

Indicated Resourcepositive

Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.

Why it applies: category is "indicated"

Cut-off Undisclosednegative

High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff_grade was stated

NI 43-101 Compliantpositive

Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.

Why it applies: reporting_standards includes ni_43_101

indicatedTable 1 - 1 Total Mineral Resource Estimate for La Cumbre · silverTonnes: 24853118Grade: 1.768Grade Unit: g/tContained Metal: 1422297Contained Unit: ozView all details
Link to this fact

Identity

Project
Table 1 - 1 Total Mineral Resource Estimate for La Cumbre
Commodity
silver
Ticker
BAT

Resource scope

Estimate type
resource
Effective date
2018-09-12T00:00:00.000Z
Reporting standards
ni_43_101
Resource group id
resource:3a2f580c8a516d667d44
Ownership percent
100 %

Resource Data

Category
indicated
Tonnes
24853118
Grade
1.768
Grade Unit
g/t
Contained Metal
1422297
Contained Unit
oz

Review

Needs Review
No
Historical
No

Dates

Event date
2018-11-09T00:00:00.000Z

Reasoning: Expanded from multi-commodity resource table for completeness.

Negative factors

  • Fact expanded from resource table columns (model omitted this commodity).

Evidence · table

“1.768”

Context: 24,853,118

Tags used in scoring

Indicated Resourcepositive

Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.

Why it applies: category is "indicated"

Cut-off Undisclosednegative

High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff_grade was stated

NI 43-101 Compliantpositive

Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.

Why it applies: reporting_standards includes ni_43_101

inferredTable 1 - 1 Total Mineral Resource Estimate for La Cumbre · goldTonnes: 8914657Grade: 0.628Grade Unit: g/tContained Metal: 179876Contained Unit: ozView all details
Link to this fact

Identity

Project
Table 1 - 1 Total Mineral Resource Estimate for La Cumbre
Commodity
gold
Ticker
BAT

Resource scope

Estimate type
resource
Effective date
2018-09-12T00:00:00.000Z
Reporting standards
ni_43_101
Resource group id
resource:b55580ea1f8423c2e034
Ownership percent
100 %

Resource Data

Category
inferred
Tonnes
8914657
Grade
0.628
Grade Unit
g/t
Contained Metal
179876
Contained Unit
oz

Review

Needs Review
No
Historical
No

Dates

Event date
2018-11-09T00:00:00.000Z

Reasoning: Expanded from multi-commodity resource table for completeness.

Negative factors

  • Fact expanded from resource table columns (model omitted this commodity).

Evidence · table

“0.628”

Context: 8,914,657

Tags used in scoring

Inferred Resourcenegative

Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.

Why it applies: category is "inferred"

Cut-off Undisclosednegative

High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff_grade was stated

NI 43-101 Compliantpositive

Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.

Why it applies: reporting_standards includes ni_43_101

inferredTable 1 - 1 Total Mineral Resource Estimate for La Cumbre · silverTonnes: 8914657Grade: 1.328Grade Unit: g/tContained Metal: 462592Contained Unit: ozView all details
Link to this fact

Identity

Project
Table 1 - 1 Total Mineral Resource Estimate for La Cumbre
Commodity
silver
Ticker
BAT

Resource scope

Estimate type
resource
Effective date
2018-09-12T00:00:00.000Z
Reporting standards
ni_43_101
Resource group id
resource:b55580ea1f8423c2e034
Ownership percent
100 %

Resource Data

Category
inferred
Tonnes
8914657
Grade
1.328
Grade Unit
g/t
Contained Metal
462592
Contained Unit
oz

Review

Needs Review
No
Historical
No

Dates

Event date
2018-11-09T00:00:00.000Z

Reasoning: Expanded from multi-commodity resource table for completeness.

Negative factors

  • Fact expanded from resource table columns (model omitted this commodity).

Evidence · table

“1.328”

Context: 8,914,657

Tags used in scoring

Inferred Resourcenegative

Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.

Why it applies: category is "inferred"

Cut-off Undisclosednegative

High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff_grade was stated

NI 43-101 Compliantpositive

Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.

Why it applies: reporting_standards includes ni_43_101

measuredTable 1 - 2 Mineral Resource Estimate for La Cumbre · goldTonnes: 14434475Grade: 0.78Grade Unit: g/tContained Metal: 362114Contained Unit: ozView all details
Link to this fact

Identity

Project
Table 1 - 2 Mineral Resource Estimate for La Cumbre
Commodity
gold
Ticker
BAT

Resource scope

Estimate type
resource
Effective date
2018-09-12T00:00:00.000Z
Reporting standards
ni_43_101
Resource group id
resource:59653c2d263f5496263a
Ownership percent
100 %

Resource Data

Category
measured
Tonnes
14434475
Grade
0.78
Grade Unit
g/t
Contained Metal
362114
Contained Unit
oz

Review

Needs Review
No
Historical
No

Dates

Event date
2018-11-09T00:00:00.000Z

Reasoning: Expanded from multi-commodity resource table for completeness.

Negative factors

  • Fact expanded from resource table columns (model omitted this commodity).

Evidence · table

“0.780”

Context: 14,434,475

Tags used in scoring

Measured Resourcepositive

Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves.

Why it applies: category is "measured"

Cut-off Undisclosednegative

High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff_grade was stated

NI 43-101 Compliantpositive

Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.

Why it applies: reporting_standards includes ni_43_101

measuredTable 1 - 2 Mineral Resource Estimate for La Cumbre · silverTonnes: 14434475Grade: 1.893Grade Unit: g/tContained Metal: 878612Contained Unit: ozView all details
Link to this fact

Identity

Project
Table 1 - 2 Mineral Resource Estimate for La Cumbre
Commodity
silver
Ticker
BAT

Resource scope

Estimate type
resource
Effective date
2018-09-12T00:00:00.000Z
Reporting standards
ni_43_101
Resource group id
resource:59653c2d263f5496263a
Ownership percent
100 %

Resource Data

Category
measured
Tonnes
14434475
Grade
1.893
Grade Unit
g/t
Contained Metal
878612
Contained Unit
oz

Review

Needs Review
No
Historical
No

Dates

Event date
2018-11-09T00:00:00.000Z

Reasoning: Expanded from multi-commodity resource table for completeness.

Negative factors

  • Fact expanded from resource table columns (model omitted this commodity).

Evidence · table

“1.893”

Context: 14,434,475

Tags used in scoring

Measured Resourcepositive

Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves.

Why it applies: category is "measured"

Cut-off Undisclosednegative

High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff_grade was stated

NI 43-101 Compliantpositive

Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.

Why it applies: reporting_standards includes ni_43_101

indicatedTable 1 - 2 Mineral Resource Estimate for La Cumbre · goldTonnes: 2633937Grade: 0.553Grade Unit: g/tContained Metal: 46804Contained Unit: ozView all details
Link to this fact

Identity

Project
Table 1 - 2 Mineral Resource Estimate for La Cumbre
Commodity
gold
Ticker
BAT

Resource scope

Estimate type
resource
Effective date
2018-09-12T00:00:00.000Z
Reporting standards
ni_43_101
Resource group id
resource:e9b05f31dd2c376d896f
Ownership percent
100 %

Resource Data

Category
indicated
Tonnes
2633937
Grade
0.553
Grade Unit
g/t
Contained Metal
46804
Contained Unit
oz

Review

Needs Review
No
Historical
No

Dates

Event date
2018-11-09T00:00:00.000Z

Reasoning: Expanded from multi-commodity resource table for completeness.

Negative factors

  • Fact expanded from resource table columns (model omitted this commodity).

Evidence · table

“0.553”

Context: 2,633,937

Tags used in scoring

Indicated Resourcepositive

Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.

Why it applies: category is "indicated"

Cut-off Undisclosednegative

High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff_grade was stated

NI 43-101 Compliantpositive

Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.

Why it applies: reporting_standards includes ni_43_101

indicatedTable 1 - 2 Mineral Resource Estimate for La Cumbre · silverTonnes: 2633937Grade: 1.522Grade Unit: g/tContained Metal: 128901Contained Unit: ozView all details
Link to this fact

Identity

Project
Table 1 - 2 Mineral Resource Estimate for La Cumbre
Commodity
silver
Ticker
BAT

Resource scope

Estimate type
resource
Effective date
2018-09-12T00:00:00.000Z
Reporting standards
ni_43_101
Resource group id
resource:e9b05f31dd2c376d896f
Ownership percent
100 %

Resource Data

Category
indicated
Tonnes
2633937
Grade
1.522
Grade Unit
g/t
Contained Metal
128901
Contained Unit
oz

Review

Needs Review
No
Historical
No

Dates

Event date
2018-11-09T00:00:00.000Z

Reasoning: Expanded from multi-commodity resource table for completeness.

Negative factors

  • Fact expanded from resource table columns (model omitted this commodity).

Evidence · table

“1.522”

Context: 2,633,937

Tags used in scoring

Indicated Resourcepositive

Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.

Why it applies: category is "indicated"

Cut-off Undisclosednegative

High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff_grade was stated

NI 43-101 Compliantpositive

Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.

Why it applies: reporting_standards includes ni_43_101

indicatedTable 1 - 2 Mineral Resource Estimate for La Cumbre · goldTonnes: 17068412Grade: 0.745Grade Unit: g/tContained Metal: 408919Contained Unit: ozView all details
Link to this fact

Identity

Project
Table 1 - 2 Mineral Resource Estimate for La Cumbre
Commodity
gold
Ticker
BAT

Resource scope

Estimate type
resource
Effective date
2018-09-12T00:00:00.000Z
Reporting standards
ni_43_101
Resource group id
resource:441ff37bffdbf8ed7a99
Ownership percent
100 %

Resource Data

Category
indicated
Tonnes
17068412
Grade
0.745
Grade Unit
g/t
Contained Metal
408919
Contained Unit
oz

Review

Needs Review
No
Historical
No

Dates

Event date
2018-11-09T00:00:00.000Z

Reasoning: Expanded from multi-commodity resource table for completeness.

Negative factors

  • Fact expanded from resource table columns (model omitted this commodity).

Evidence · table

“0.745”

Context: 17,068,412

Tags used in scoring

Indicated Resourcepositive

Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.

Why it applies: category is "indicated"

Cut-off Undisclosednegative

High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff_grade was stated

NI 43-101 Compliantpositive

Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.

Why it applies: reporting_standards includes ni_43_101

indicatedTable 1 - 2 Mineral Resource Estimate for La Cumbre · silverTonnes: 17068412Grade: 1.836Grade Unit: g/tContained Metal: 1007512Contained Unit: ozView all details
Link to this fact

Identity

Project
Table 1 - 2 Mineral Resource Estimate for La Cumbre
Commodity
silver
Ticker
BAT

Resource scope

Estimate type
resource
Effective date
2018-09-12T00:00:00.000Z
Reporting standards
ni_43_101
Resource group id
resource:441ff37bffdbf8ed7a99
Ownership percent
100 %

Resource Data

Category
indicated
Tonnes
17068412
Grade
1.836
Grade Unit
g/t
Contained Metal
1007512
Contained Unit
oz

Review

Needs Review
No
Historical
No

Dates

Event date
2018-11-09T00:00:00.000Z

Reasoning: Expanded from multi-commodity resource table for completeness.

Negative factors

  • Fact expanded from resource table columns (model omitted this commodity).

Evidence · table

“1.836”

Context: 17,068,412

Tags used in scoring

Indicated Resourcepositive

Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.

Why it applies: category is "indicated"

Cut-off Undisclosednegative

High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff_grade was stated

NI 43-101 Compliantpositive

Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.

Why it applies: reporting_standards includes ni_43_101

inferredTable 1 - 2 Mineral Resource Estimate for La Cumbre · goldTonnes: 247781Grade: 0.392Grade Unit: g/tContained Metal: 3121Contained Unit: ozView all details
Link to this fact

Identity

Project
Table 1 - 2 Mineral Resource Estimate for La Cumbre
Commodity
gold
Ticker
BAT

Resource scope

Estimate type
resource
Effective date
2018-09-12T00:00:00.000Z
Reporting standards
ni_43_101
Resource group id
resource:d4c4d74c61cfd6d9e6a5
Ownership percent
100 %

Resource Data

Category
inferred
Tonnes
247781
Grade
0.392
Grade Unit
g/t
Contained Metal
3121
Contained Unit
oz

Review

Needs Review
No
Historical
No

Dates

Event date
2018-11-09T00:00:00.000Z

Reasoning: Expanded from multi-commodity resource table for completeness.

Negative factors

  • Fact expanded from resource table columns (model omitted this commodity).

Evidence · table

“0.392”

Context: 247,781

Tags used in scoring

Inferred Resourcenegative

Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.

Why it applies: category is "inferred"

Cut-off Undisclosednegative

High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff_grade was stated

NI 43-101 Compliantpositive

Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.

Why it applies: reporting_standards includes ni_43_101

inferredTable 1 - 2 Mineral Resource Estimate for La Cumbre · silverTonnes: 247781Grade: 1.364Grade Unit: g/tContained Metal: 10863Contained Unit: ozView all details
Link to this fact

Identity

Project
Table 1 - 2 Mineral Resource Estimate for La Cumbre
Commodity
silver
Ticker
BAT

Resource scope

Estimate type
resource
Effective date
2018-09-12T00:00:00.000Z
Reporting standards
ni_43_101
Resource group id
resource:d4c4d74c61cfd6d9e6a5
Ownership percent
100 %

Resource Data

Category
inferred
Tonnes
247781
Grade
1.364
Grade Unit
g/t
Contained Metal
10863
Contained Unit
oz

Review

Needs Review
No
Historical
No

Dates

Event date
2018-11-09T00:00:00.000Z

Reasoning: Expanded from multi-commodity resource table for completeness.

Negative factors

  • Fact expanded from resource table columns (model omitted this commodity).

Evidence · table

“1.364”

Context: 247,781

Tags used in scoring

Inferred Resourcenegative

Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.

Why it applies: category is "inferred"

Cut-off Undisclosednegative

High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff_grade was stated

NI 43-101 Compliantpositive

Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.

Why it applies: reporting_standards includes ni_43_101

measuredTable 1 - 3 Mineral Resource Estimates for La Cumbre · goldTonnes: 5579857Grade: 0.704Grade Unit: g/tContained Metal: 126222Contained Unit: ozView all details
Link to this fact

Identity

Project
Table 1 - 3 Mineral Resource Estimates for La Cumbre
Commodity
gold
Ticker
BAT

Resource scope

Estimate type
resource
Effective date
2018-09-12T00:00:00.000Z
Reporting standards
ni_43_101
Resource group id
resource:03297ed2948f993bccd7
Ownership percent
100 %

Resource Data

Category
measured
Tonnes
5579857
Grade
0.704
Grade Unit
g/t
Contained Metal
126222
Contained Unit
oz

Review

Needs Review
No
Historical
No

Dates

Event date
2018-11-09T00:00:00.000Z

Reasoning: Expanded from multi-commodity resource table for completeness.

Negative factors

  • Fact expanded from resource table columns (model omitted this commodity).

Evidence · table

“0.704”

Context: 5,579,857

Tags used in scoring

Measured Resourcepositive

Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves.

Why it applies: category is "measured"

Cut-off Undisclosednegative

High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff_grade was stated

NI 43-101 Compliantpositive

Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.

Why it applies: reporting_standards includes ni_43_101

measuredTable 1 - 3 Mineral Resource Estimates for La Cumbre · silverTonnes: 5579857Grade: 1.732Grade Unit: g/tContained Metal: 310715Contained Unit: ozView all details
Link to this fact

Identity

Project
Table 1 - 3 Mineral Resource Estimates for La Cumbre
Commodity
silver
Ticker
BAT

Resource scope

Estimate type
resource
Effective date
2018-09-12T00:00:00.000Z
Reporting standards
ni_43_101
Resource group id
resource:03297ed2948f993bccd7
Ownership percent
100 %

Resource Data

Category
measured
Tonnes
5579857
Grade
1.732
Grade Unit
g/t
Contained Metal
310715
Contained Unit
oz

Review

Needs Review
No
Historical
No

Dates

Event date
2018-11-09T00:00:00.000Z

Reasoning: Expanded from multi-commodity resource table for completeness.

Negative factors

  • Fact expanded from resource table columns (model omitted this commodity).

Evidence · table

“1.732”

Context: 5,579,857

Tags used in scoring

Measured Resourcepositive

Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves.

Why it applies: category is "measured"

Cut-off Undisclosednegative

High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff_grade was stated

NI 43-101 Compliantpositive

Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.

Why it applies: reporting_standards includes ni_43_101

indicatedTable 1 - 3 Mineral Resource Estimates for La Cumbre · goldTonnes: 2204849Grade: 0.537Grade Unit: g/tContained Metal: 38060Contained Unit: ozView all details
Link to this fact

Identity

Project
Table 1 - 3 Mineral Resource Estimates for La Cumbre
Commodity
gold
Ticker
BAT

Resource scope

Estimate type
resource
Effective date
2018-09-12T00:00:00.000Z
Reporting standards
ni_43_101
Resource group id
resource:232bc642da31a09eeb35
Ownership percent
100 %

Resource Data

Category
indicated
Tonnes
2204849
Grade
0.537
Grade Unit
g/t
Contained Metal
38060
Contained Unit
oz

Review

Needs Review
No
Historical
No

Dates

Event date
2018-11-09T00:00:00.000Z

Reasoning: Expanded from multi-commodity resource table for completeness.

Negative factors

  • Fact expanded from resource table columns (model omitted this commodity).

Evidence · table

“0.537”

Context: 2,204,849

Tags used in scoring

Indicated Resourcepositive

Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.

Why it applies: category is "indicated"

Cut-off Undisclosednegative

High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff_grade was stated

NI 43-101 Compliantpositive

Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.

Why it applies: reporting_standards includes ni_43_101

indicatedTable 1 - 3 Mineral Resource Estimates for La Cumbre · silverTonnes: 2204849Grade: 1.468Grade Unit: g/tContained Metal: 104070Contained Unit: ozView all details
Link to this fact

Identity

Project
Table 1 - 3 Mineral Resource Estimates for La Cumbre
Commodity
silver
Ticker
BAT

Resource scope

Estimate type
resource
Effective date
2018-09-12T00:00:00.000Z
Reporting standards
ni_43_101
Resource group id
resource:232bc642da31a09eeb35
Ownership percent
100 %

Resource Data

Category
indicated
Tonnes
2204849
Grade
1.468
Grade Unit
g/t
Contained Metal
104070
Contained Unit
oz

Review

Needs Review
No
Historical
No

Dates

Event date
2018-11-09T00:00:00.000Z

Reasoning: Expanded from multi-commodity resource table for completeness.

Negative factors

  • Fact expanded from resource table columns (model omitted this commodity).

Evidence · table

“1.468”

Context: 2,204,849

Tags used in scoring

Indicated Resourcepositive

Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.

Why it applies: category is "indicated"

Cut-off Undisclosednegative

High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff_grade was stated

NI 43-101 Compliantpositive

Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.

Why it applies: reporting_standards includes ni_43_101

indicatedTable 1 - 3 Mineral Resource Estimates for La Cumbre · goldTonnes: 7784706Grade: 0.656Grade Unit: g/tContained Metal: 164282Contained Unit: ozView all details
Link to this fact

Identity

Project
Table 1 - 3 Mineral Resource Estimates for La Cumbre
Commodity
gold
Ticker
BAT

Resource scope

Estimate type
resource
Effective date
2018-09-12T00:00:00.000Z
Reporting standards
ni_43_101
Resource group id
resource:85adc81a9a7436ba372f
Ownership percent
100 %

Resource Data

Category
indicated
Tonnes
7784706
Grade
0.656
Grade Unit
g/t
Contained Metal
164282
Contained Unit
oz

Review

Needs Review
No
Historical
No

Dates

Event date
2018-11-09T00:00:00.000Z

Reasoning: Expanded from multi-commodity resource table for completeness.

Negative factors

  • Fact expanded from resource table columns (model omitted this commodity).

Evidence · table

“0.656”

Context: 7,784,706

Tags used in scoring

Indicated Resourcepositive

Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.

Why it applies: category is "indicated"

Cut-off Undisclosednegative

High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff_grade was stated

NI 43-101 Compliantpositive

Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.

Why it applies: reporting_standards includes ni_43_101

indicatedTable 1 - 3 Mineral Resource Estimates for La Cumbre · silverTonnes: 7784706Grade: 1.657Grade Unit: g/tContained Metal: 414785Contained Unit: ozView all details
Link to this fact

Identity

Project
Table 1 - 3 Mineral Resource Estimates for La Cumbre
Commodity
silver
Ticker
BAT

Resource scope

Estimate type
resource
Effective date
2018-09-12T00:00:00.000Z
Reporting standards
ni_43_101
Resource group id
resource:85adc81a9a7436ba372f
Ownership percent
100 %

Resource Data

Category
indicated
Tonnes
7784706
Grade
1.657
Grade Unit
g/t
Contained Metal
414785
Contained Unit
oz

Review

Needs Review
No
Historical
No

Dates

Event date
2018-11-09T00:00:00.000Z

Reasoning: Expanded from multi-commodity resource table for completeness.

Negative factors

  • Fact expanded from resource table columns (model omitted this commodity).

Evidence · table

“1.657”

Context: 7,784,706

Tags used in scoring

Indicated Resourcepositive

Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.

Why it applies: category is "indicated"

Cut-off Undisclosednegative

High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff_grade was stated

NI 43-101 Compliantpositive

Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.

Why it applies: reporting_standards includes ni_43_101

inferredTable 1 - 3 Mineral Resource Estimates for La Cumbre · goldTonnes: 8666875Grade: 0.634Grade Unit: g/tContained Metal: 176755Contained Unit: ozView all details
Link to this fact

Identity

Project
Table 1 - 3 Mineral Resource Estimates for La Cumbre
Commodity
gold
Ticker
BAT

Resource scope

Estimate type
resource
Effective date
2018-09-12T00:00:00.000Z
Reporting standards
ni_43_101
Resource group id
resource:b0d98544f972ba9c423a
Ownership percent
100 %

Resource Data

Category
inferred
Tonnes
8666875
Grade
0.634
Grade Unit
g/t
Contained Metal
176755
Contained Unit
oz

Review

Needs Review
No
Historical
No

Dates

Event date
2018-11-09T00:00:00.000Z

Reasoning: Expanded from multi-commodity resource table for completeness.

Negative factors

  • Fact expanded from resource table columns (model omitted this commodity).

Evidence · table

“0.634”

Context: 8,666,875

Tags used in scoring

Inferred Resourcenegative

Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.

Why it applies: category is "inferred"

Cut-off Undisclosednegative

High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff_grade was stated

NI 43-101 Compliantpositive

Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.

Why it applies: reporting_standards includes ni_43_101

inferredTable 1 - 3 Mineral Resource Estimates for La Cumbre · silverTonnes: 8666875Grade: 1.621Grade Unit: g/tContained Metal: 451729Contained Unit: ozView all details
Link to this fact

Identity

Project
Table 1 - 3 Mineral Resource Estimates for La Cumbre
Commodity
silver
Ticker
BAT

Resource scope

Estimate type
resource
Effective date
2018-09-12T00:00:00.000Z
Reporting standards
ni_43_101
Resource group id
resource:b0d98544f972ba9c423a
Ownership percent
100 %

Resource Data

Category
inferred
Tonnes
8666875
Grade
1.621
Grade Unit
g/t
Contained Metal
451729
Contained Unit
oz

Review

Needs Review
No
Historical
No

Dates

Event date
2018-11-09T00:00:00.000Z

Reasoning: Expanded from multi-commodity resource table for completeness.

Negative factors

  • Fact expanded from resource table columns (model omitted this commodity).

Evidence · table

“1.621”

Context: 8,666,875

Tags used in scoring

Inferred Resourcenegative

Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.

Why it applies: category is "inferred"

Cut-off Undisclosednegative

High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff_grade was stated

NI 43-101 Compliantpositive

Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.

Why it applies: reporting_standards includes ni_43_101

Metallurgical Results (1)

leachLa Cumbre Deposit · goldRecovery: 92 %View all details
Link to this fact

Identity

Project
La Cumbre Deposit
Commodity
gold
Region
colombia
Reported Region
Risaralda, Colombia
Ticker
BAT

Test Work

Program Status
preliminary
Test Type
leach
Sample
oxide mineralization

Recovery

Recovery
92 %
Recovery Basis
actual_test

Review

Needs Review
No
Historical
No

Dates

Event date
2018-11-09T00:00:00.000Z

Reasoning: Promising metallurgical results for the oxide zone.

Positive factors

  • High recovery reported

Evidence · text

“returned up to 92% gold recovery”

How Atlas produces this analysis

Minestarters Atlas uses automated extraction to summarize mining announcements, identify reported measurements, and classify supporting evidence. Sentiment reflects the extracted narrative and classification rules; it is an interpretation, not a reported measurement. Evidence quotes and context are provided where available. Missing data, low-confidence results, and review flags indicate limitations. Check the original publisher announcement before relying on an interpretation.