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

Canonical Atlas analysis: https://atlas-extractions.minestarters.com/news/batero-gold-reports-updated-ni-43-101-resource-estimate-at-la-cumbre-deposit--ac4344c3-c9b9-441e-8641-52c94a264cfd

Original source: https://money.tmx.com/en/quote/BAT/news/5258250004025921/batero-gold-reports-updated-ni-43-101-resource-estimate-at-la-cumbre-deposit

Publisher: tmx

Original announcement: 2018-11-09T13:42:21.000Z

Analysis by Minestarters Atlas

Atlas analysis published: Unknown date

Atlas analysis updated: Unknown date

- 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

Narrative sentiment: 0.60 · Bullish

## Minestarters Atlas 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 factor: Significant measured resource established

- Positive factor: High gold recovery \(92%\) in oxide test work

- Positive factor: NI 43-101 compliant with QP sign-off

- Negative factor: Resource is primarily Inferred \(approx 36%\)

- Negative factor: Low grade \(0.717 g/t Au average\)

Facts used in scoring: 29

## Classification and evidence

**NI 43-101 Compliant**

Polarity: positive

Definition: 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 Signed**

Polarity: positive

Definition: 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 Disclosed**

Polarity: positive

Definition: 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 Resource**

Polarity: negative

Definition: 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 Route**

Polarity: neutral

Definition: 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 Only**

Polarity: negative

Definition: 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)

### measured

[Link to this fact](https://atlas-extractions.minestarters.com/news/batero-gold-reports-updated-ni-43-101-resource-estimate-at-la-cumbre-deposit--ac4344c3-c9b9-441e-8641-52c94a264cfd#fact-resource-facts-1)

La Cumbre Deposit · gold

#### 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 factor: High tonnage in measured category

Evidence · table

> 0.759

Context: 20,014,332

#### Tags used in scoring

**Measured Resource**

Polarity: positive

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

Why it applies: category is "measured"

**Cut-off Disclosed**

Polarity: positive

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

Why it applies: cutoff\_grade is stated

**QP/CP Signed**

Polarity: positive

Definition: 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 Compliant**

Polarity: positive

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

Why it applies: reporting\_standards includes ni\_43\_101

### measured

[Link to this fact](https://atlas-extractions.minestarters.com/news/batero-gold-reports-updated-ni-43-101-resource-estimate-at-la-cumbre-deposit--ac4344c3-c9b9-441e-8641-52c94a264cfd#fact-resource-facts-2)

La Cumbre Deposit · silver

#### 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 Resource**

Polarity: positive

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

Why it applies: category is "measured"

**Cut-off Undisclosed**

Polarity: negative

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

Why it applies: no cutoff\_grade was stated

**QP/CP Signed**

Polarity: positive

Definition: 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 Compliant**

Polarity: positive

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

Why it applies: reporting\_standards includes ni\_43\_101

### indicated

[Link to this fact](https://atlas-extractions.minestarters.com/news/batero-gold-reports-updated-ni-43-101-resource-estimate-at-la-cumbre-deposit--ac4344c3-c9b9-441e-8641-52c94a264cfd#fact-resource-facts-3)

La Cumbre Deposit · gold

#### 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 Resource**

Polarity: positive

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

Why it applies: category is "indicated"

**Cut-off Disclosed**

Polarity: positive

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

Why it applies: cutoff\_grade is stated

**QP/CP Signed**

Polarity: positive

Definition: 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 Compliant**

Polarity: positive

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

Why it applies: reporting\_standards includes ni\_43\_101

### inferred

[Link to this fact](https://atlas-extractions.minestarters.com/news/batero-gold-reports-updated-ni-43-101-resource-estimate-at-la-cumbre-deposit--ac4344c3-c9b9-441e-8641-52c94a264cfd#fact-resource-facts-4)

La Cumbre Deposit · gold

#### 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 factor: Inferred category limits economic confidence

Evidence · table

> 0.628

Context: 8,914,657

#### Tags used in scoring

**Inferred Resource**

Polarity: negative

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

Why it applies: category is "inferred"

**Cut-off Disclosed**

Polarity: positive

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

Why it applies: cutoff\_grade is stated

**QP/CP Signed**

Polarity: positive

Definition: 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 Compliant**

Polarity: positive

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

Why it applies: reporting\_standards includes ni\_43\_101

### measured

[Link to this fact](https://atlas-extractions.minestarters.com/news/batero-gold-reports-updated-ni-43-101-resource-estimate-at-la-cumbre-deposit--ac4344c3-c9b9-441e-8641-52c94a264cfd#fact-resource-facts-5)

Table 1 - 1 Total Mineral Resource Estimate for La Cumbre · gold

#### 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 factor: Fact expanded from resource table columns \(model omitted this commodity\).

Evidence · table

> 0.759

Context: 20,014,332

#### Tags used in scoring

**Measured Resource**

Polarity: positive

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

Why it applies: category is "measured"

**Cut-off Undisclosed**

Polarity: negative

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

Why it applies: no cutoff\_grade was stated

**NI 43-101 Compliant**

Polarity: positive

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

Why it applies: reporting\_standards includes ni\_43\_101

### measured

[Link to this fact](https://atlas-extractions.minestarters.com/news/batero-gold-reports-updated-ni-43-101-resource-estimate-at-la-cumbre-deposit--ac4344c3-c9b9-441e-8641-52c94a264cfd#fact-resource-facts-6)

Table 1 - 1 Total Mineral Resource Estimate for La Cumbre · silver

#### 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 factor: Fact expanded from resource table columns \(model omitted this commodity\).

Evidence · table

> 1.837

Context: 20,014,332

#### Tags used in scoring

**Measured Resource**

Polarity: positive

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

Why it applies: category is "measured"

**Cut-off Undisclosed**

Polarity: negative

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

Why it applies: no cutoff\_grade was stated

**NI 43-101 Compliant**

Polarity: positive

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

Why it applies: reporting\_standards includes ni\_43\_101

### indicated

[Link to this fact](https://atlas-extractions.minestarters.com/news/batero-gold-reports-updated-ni-43-101-resource-estimate-at-la-cumbre-deposit--ac4344c3-c9b9-441e-8641-52c94a264cfd#fact-resource-facts-7)

Table 1 - 1 Total Mineral Resource Estimate for La Cumbre · gold

#### 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 factor: Fact expanded from resource table columns \(model omitted this commodity\).

Evidence · table

> 0.546

Context: 4,838,786

#### Tags used in scoring

**Indicated Resource**

Polarity: positive

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

Why it applies: category is "indicated"

**Cut-off Undisclosed**

Polarity: negative

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

Why it applies: no cutoff\_grade was stated

**NI 43-101 Compliant**

Polarity: positive

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

Why it applies: reporting\_standards includes ni\_43\_101

### indicated

[Link to this fact](https://atlas-extractions.minestarters.com/news/batero-gold-reports-updated-ni-43-101-resource-estimate-at-la-cumbre-deposit--ac4344c3-c9b9-441e-8641-52c94a264cfd#fact-resource-facts-8)

Table 1 - 1 Total Mineral Resource Estimate for La Cumbre · silver

#### 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 factor: Fact expanded from resource table columns \(model omitted this commodity\).

Evidence · table

> 1.485

Context: 4,838,786

#### Tags used in scoring

**Indicated Resource**

Polarity: positive

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

Why it applies: category is "indicated"

**Cut-off Undisclosed**

Polarity: negative

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

Why it applies: no cutoff\_grade was stated

**NI 43-101 Compliant**

Polarity: positive

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

Why it applies: reporting\_standards includes ni\_43\_101

### indicated

[Link to this fact](https://atlas-extractions.minestarters.com/news/batero-gold-reports-updated-ni-43-101-resource-estimate-at-la-cumbre-deposit--ac4344c3-c9b9-441e-8641-52c94a264cfd#fact-resource-facts-9)

Table 1 - 1 Total Mineral Resource Estimate for La Cumbre · gold

#### 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 factor: Fact expanded from resource table columns \(model omitted this commodity\).

Evidence · table

> 0.717

Context: 24,853,118

#### Tags used in scoring

**Indicated Resource**

Polarity: positive

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

Why it applies: category is "indicated"

**Cut-off Undisclosed**

Polarity: negative

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

Why it applies: no cutoff\_grade was stated

**NI 43-101 Compliant**

Polarity: positive

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

Why it applies: reporting\_standards includes ni\_43\_101

### indicated

[Link to this fact](https://atlas-extractions.minestarters.com/news/batero-gold-reports-updated-ni-43-101-resource-estimate-at-la-cumbre-deposit--ac4344c3-c9b9-441e-8641-52c94a264cfd#fact-resource-facts-10)

Table 1 - 1 Total Mineral Resource Estimate for La Cumbre · silver

#### 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 factor: Fact expanded from resource table columns \(model omitted this commodity\).

Evidence · table

> 1.768

Context: 24,853,118

#### Tags used in scoring

**Indicated Resource**

Polarity: positive

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

Why it applies: category is "indicated"

**Cut-off Undisclosed**

Polarity: negative

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

Why it applies: no cutoff\_grade was stated

**NI 43-101 Compliant**

Polarity: positive

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

Why it applies: reporting\_standards includes ni\_43\_101

### inferred

[Link to this fact](https://atlas-extractions.minestarters.com/news/batero-gold-reports-updated-ni-43-101-resource-estimate-at-la-cumbre-deposit--ac4344c3-c9b9-441e-8641-52c94a264cfd#fact-resource-facts-11)

Table 1 - 1 Total Mineral Resource Estimate for La Cumbre · gold

#### 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 factor: Fact expanded from resource table columns \(model omitted this commodity\).

Evidence · table

> 0.628

Context: 8,914,657

#### Tags used in scoring

**Inferred Resource**

Polarity: negative

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

Why it applies: category is "inferred"

**Cut-off Undisclosed**

Polarity: negative

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

Why it applies: no cutoff\_grade was stated

**NI 43-101 Compliant**

Polarity: positive

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

Why it applies: reporting\_standards includes ni\_43\_101

### inferred

[Link to this fact](https://atlas-extractions.minestarters.com/news/batero-gold-reports-updated-ni-43-101-resource-estimate-at-la-cumbre-deposit--ac4344c3-c9b9-441e-8641-52c94a264cfd#fact-resource-facts-12)

Table 1 - 1 Total Mineral Resource Estimate for La Cumbre · silver

#### 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 factor: Fact expanded from resource table columns \(model omitted this commodity\).

Evidence · table

> 1.328

Context: 8,914,657

#### Tags used in scoring

**Inferred Resource**

Polarity: negative

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

Why it applies: category is "inferred"

**Cut-off Undisclosed**

Polarity: negative

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

Why it applies: no cutoff\_grade was stated

**NI 43-101 Compliant**

Polarity: positive

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

Why it applies: reporting\_standards includes ni\_43\_101

### measured

[Link to this fact](https://atlas-extractions.minestarters.com/news/batero-gold-reports-updated-ni-43-101-resource-estimate-at-la-cumbre-deposit--ac4344c3-c9b9-441e-8641-52c94a264cfd#fact-resource-facts-13)

Table 1 - 2 Mineral Resource Estimate for La Cumbre · gold

#### 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 factor: Fact expanded from resource table columns \(model omitted this commodity\).

Evidence · table

> 0.780

Context: 14,434,475

#### Tags used in scoring

**Measured Resource**

Polarity: positive

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

Why it applies: category is "measured"

**Cut-off Undisclosed**

Polarity: negative

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

Why it applies: no cutoff\_grade was stated

**NI 43-101 Compliant**

Polarity: positive

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

Why it applies: reporting\_standards includes ni\_43\_101

### measured

[Link to this fact](https://atlas-extractions.minestarters.com/news/batero-gold-reports-updated-ni-43-101-resource-estimate-at-la-cumbre-deposit--ac4344c3-c9b9-441e-8641-52c94a264cfd#fact-resource-facts-14)

Table 1 - 2 Mineral Resource Estimate for La Cumbre · silver

#### 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 factor: Fact expanded from resource table columns \(model omitted this commodity\).

Evidence · table

> 1.893

Context: 14,434,475

#### Tags used in scoring

**Measured Resource**

Polarity: positive

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

Why it applies: category is "measured"

**Cut-off Undisclosed**

Polarity: negative

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

Why it applies: no cutoff\_grade was stated

**NI 43-101 Compliant**

Polarity: positive

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

Why it applies: reporting\_standards includes ni\_43\_101

### indicated

[Link to this fact](https://atlas-extractions.minestarters.com/news/batero-gold-reports-updated-ni-43-101-resource-estimate-at-la-cumbre-deposit--ac4344c3-c9b9-441e-8641-52c94a264cfd#fact-resource-facts-15)

Table 1 - 2 Mineral Resource Estimate for La Cumbre · gold

#### 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 factor: Fact expanded from resource table columns \(model omitted this commodity\).

Evidence · table

> 0.553

Context: 2,633,937

#### Tags used in scoring

**Indicated Resource**

Polarity: positive

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

Why it applies: category is "indicated"

**Cut-off Undisclosed**

Polarity: negative

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

Why it applies: no cutoff\_grade was stated

**NI 43-101 Compliant**

Polarity: positive

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

Why it applies: reporting\_standards includes ni\_43\_101

### indicated

[Link to this fact](https://atlas-extractions.minestarters.com/news/batero-gold-reports-updated-ni-43-101-resource-estimate-at-la-cumbre-deposit--ac4344c3-c9b9-441e-8641-52c94a264cfd#fact-resource-facts-16)

Table 1 - 2 Mineral Resource Estimate for La Cumbre · silver

#### 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 factor: Fact expanded from resource table columns \(model omitted this commodity\).

Evidence · table

> 1.522

Context: 2,633,937

#### Tags used in scoring

**Indicated Resource**

Polarity: positive

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

Why it applies: category is "indicated"

**Cut-off Undisclosed**

Polarity: negative

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

Why it applies: no cutoff\_grade was stated

**NI 43-101 Compliant**

Polarity: positive

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

Why it applies: reporting\_standards includes ni\_43\_101

### indicated

[Link to this fact](https://atlas-extractions.minestarters.com/news/batero-gold-reports-updated-ni-43-101-resource-estimate-at-la-cumbre-deposit--ac4344c3-c9b9-441e-8641-52c94a264cfd#fact-resource-facts-17)

Table 1 - 2 Mineral Resource Estimate for La Cumbre · gold

#### 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 factor: Fact expanded from resource table columns \(model omitted this commodity\).

Evidence · table

> 0.745

Context: 17,068,412

#### Tags used in scoring

**Indicated Resource**

Polarity: positive

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

Why it applies: category is "indicated"

**Cut-off Undisclosed**

Polarity: negative

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

Why it applies: no cutoff\_grade was stated

**NI 43-101 Compliant**

Polarity: positive

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

Why it applies: reporting\_standards includes ni\_43\_101

### indicated

[Link to this fact](https://atlas-extractions.minestarters.com/news/batero-gold-reports-updated-ni-43-101-resource-estimate-at-la-cumbre-deposit--ac4344c3-c9b9-441e-8641-52c94a264cfd#fact-resource-facts-18)

Table 1 - 2 Mineral Resource Estimate for La Cumbre · silver

#### 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 factor: Fact expanded from resource table columns \(model omitted this commodity\).

Evidence · table

> 1.836

Context: 17,068,412

#### Tags used in scoring

**Indicated Resource**

Polarity: positive

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

Why it applies: category is "indicated"

**Cut-off Undisclosed**

Polarity: negative

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

Why it applies: no cutoff\_grade was stated

**NI 43-101 Compliant**

Polarity: positive

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

Why it applies: reporting\_standards includes ni\_43\_101

### inferred

[Link to this fact](https://atlas-extractions.minestarters.com/news/batero-gold-reports-updated-ni-43-101-resource-estimate-at-la-cumbre-deposit--ac4344c3-c9b9-441e-8641-52c94a264cfd#fact-resource-facts-19)

Table 1 - 2 Mineral Resource Estimate for La Cumbre · gold

#### 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 factor: Fact expanded from resource table columns \(model omitted this commodity\).

Evidence · table

> 0.392

Context: 247,781

#### Tags used in scoring

**Inferred Resource**

Polarity: negative

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

Why it applies: category is "inferred"

**Cut-off Undisclosed**

Polarity: negative

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

Why it applies: no cutoff\_grade was stated

**NI 43-101 Compliant**

Polarity: positive

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

Why it applies: reporting\_standards includes ni\_43\_101

### inferred

[Link to this fact](https://atlas-extractions.minestarters.com/news/batero-gold-reports-updated-ni-43-101-resource-estimate-at-la-cumbre-deposit--ac4344c3-c9b9-441e-8641-52c94a264cfd#fact-resource-facts-20)

Table 1 - 2 Mineral Resource Estimate for La Cumbre · silver

#### 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 factor: Fact expanded from resource table columns \(model omitted this commodity\).

Evidence · table

> 1.364

Context: 247,781

#### Tags used in scoring

**Inferred Resource**

Polarity: negative

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

Why it applies: category is "inferred"

**Cut-off Undisclosed**

Polarity: negative

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

Why it applies: no cutoff\_grade was stated

**NI 43-101 Compliant**

Polarity: positive

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

Why it applies: reporting\_standards includes ni\_43\_101

### measured

[Link to this fact](https://atlas-extractions.minestarters.com/news/batero-gold-reports-updated-ni-43-101-resource-estimate-at-la-cumbre-deposit--ac4344c3-c9b9-441e-8641-52c94a264cfd#fact-resource-facts-21)

Table 1 - 3 Mineral Resource Estimates for La Cumbre · gold

#### 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 factor: Fact expanded from resource table columns \(model omitted this commodity\).

Evidence · table

> 0.704

Context: 5,579,857

#### Tags used in scoring

**Measured Resource**

Polarity: positive

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

Why it applies: category is "measured"

**Cut-off Undisclosed**

Polarity: negative

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

Why it applies: no cutoff\_grade was stated

**NI 43-101 Compliant**

Polarity: positive

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

Why it applies: reporting\_standards includes ni\_43\_101

### measured

[Link to this fact](https://atlas-extractions.minestarters.com/news/batero-gold-reports-updated-ni-43-101-resource-estimate-at-la-cumbre-deposit--ac4344c3-c9b9-441e-8641-52c94a264cfd#fact-resource-facts-22)

Table 1 - 3 Mineral Resource Estimates for La Cumbre · silver

#### 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 factor: Fact expanded from resource table columns \(model omitted this commodity\).

Evidence · table

> 1.732

Context: 5,579,857

#### Tags used in scoring

**Measured Resource**

Polarity: positive

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

Why it applies: category is "measured"

**Cut-off Undisclosed**

Polarity: negative

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

Why it applies: no cutoff\_grade was stated

**NI 43-101 Compliant**

Polarity: positive

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

Why it applies: reporting\_standards includes ni\_43\_101

### indicated

[Link to this fact](https://atlas-extractions.minestarters.com/news/batero-gold-reports-updated-ni-43-101-resource-estimate-at-la-cumbre-deposit--ac4344c3-c9b9-441e-8641-52c94a264cfd#fact-resource-facts-23)

Table 1 - 3 Mineral Resource Estimates for La Cumbre · gold

#### 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 factor: Fact expanded from resource table columns \(model omitted this commodity\).

Evidence · table

> 0.537

Context: 2,204,849

#### Tags used in scoring

**Indicated Resource**

Polarity: positive

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

Why it applies: category is "indicated"

**Cut-off Undisclosed**

Polarity: negative

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

Why it applies: no cutoff\_grade was stated

**NI 43-101 Compliant**

Polarity: positive

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

Why it applies: reporting\_standards includes ni\_43\_101

### indicated

[Link to this fact](https://atlas-extractions.minestarters.com/news/batero-gold-reports-updated-ni-43-101-resource-estimate-at-la-cumbre-deposit--ac4344c3-c9b9-441e-8641-52c94a264cfd#fact-resource-facts-24)

Table 1 - 3 Mineral Resource Estimates for La Cumbre · silver

#### 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 factor: Fact expanded from resource table columns \(model omitted this commodity\).

Evidence · table

> 1.468

Context: 2,204,849

#### Tags used in scoring

**Indicated Resource**

Polarity: positive

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

Why it applies: category is "indicated"

**Cut-off Undisclosed**

Polarity: negative

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

Why it applies: no cutoff\_grade was stated

**NI 43-101 Compliant**

Polarity: positive

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

Why it applies: reporting\_standards includes ni\_43\_101

### indicated

[Link to this fact](https://atlas-extractions.minestarters.com/news/batero-gold-reports-updated-ni-43-101-resource-estimate-at-la-cumbre-deposit--ac4344c3-c9b9-441e-8641-52c94a264cfd#fact-resource-facts-25)

Table 1 - 3 Mineral Resource Estimates for La Cumbre · gold

#### 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 factor: Fact expanded from resource table columns \(model omitted this commodity\).

Evidence · table

> 0.656

Context: 7,784,706

#### Tags used in scoring

**Indicated Resource**

Polarity: positive

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

Why it applies: category is "indicated"

**Cut-off Undisclosed**

Polarity: negative

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

Why it applies: no cutoff\_grade was stated

**NI 43-101 Compliant**

Polarity: positive

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

Why it applies: reporting\_standards includes ni\_43\_101

### indicated

[Link to this fact](https://atlas-extractions.minestarters.com/news/batero-gold-reports-updated-ni-43-101-resource-estimate-at-la-cumbre-deposit--ac4344c3-c9b9-441e-8641-52c94a264cfd#fact-resource-facts-26)

Table 1 - 3 Mineral Resource Estimates for La Cumbre · silver

#### 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 factor: Fact expanded from resource table columns \(model omitted this commodity\).

Evidence · table

> 1.657

Context: 7,784,706

#### Tags used in scoring

**Indicated Resource**

Polarity: positive

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

Why it applies: category is "indicated"

**Cut-off Undisclosed**

Polarity: negative

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

Why it applies: no cutoff\_grade was stated

**NI 43-101 Compliant**

Polarity: positive

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

Why it applies: reporting\_standards includes ni\_43\_101

### inferred

[Link to this fact](https://atlas-extractions.minestarters.com/news/batero-gold-reports-updated-ni-43-101-resource-estimate-at-la-cumbre-deposit--ac4344c3-c9b9-441e-8641-52c94a264cfd#fact-resource-facts-27)

Table 1 - 3 Mineral Resource Estimates for La Cumbre · gold

#### 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 factor: Fact expanded from resource table columns \(model omitted this commodity\).

Evidence · table

> 0.634

Context: 8,666,875

#### Tags used in scoring

**Inferred Resource**

Polarity: negative

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

Why it applies: category is "inferred"

**Cut-off Undisclosed**

Polarity: negative

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

Why it applies: no cutoff\_grade was stated

**NI 43-101 Compliant**

Polarity: positive

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

Why it applies: reporting\_standards includes ni\_43\_101

### inferred

[Link to this fact](https://atlas-extractions.minestarters.com/news/batero-gold-reports-updated-ni-43-101-resource-estimate-at-la-cumbre-deposit--ac4344c3-c9b9-441e-8641-52c94a264cfd#fact-resource-facts-28)

Table 1 - 3 Mineral Resource Estimates for La Cumbre · silver

#### 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 factor: Fact expanded from resource table columns \(model omitted this commodity\).

Evidence · table

> 1.621

Context: 8,666,875

#### Tags used in scoring

**Inferred Resource**

Polarity: negative

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

Why it applies: category is "inferred"

**Cut-off Undisclosed**

Polarity: negative

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

Why it applies: no cutoff\_grade was stated

**NI 43-101 Compliant**

Polarity: positive

Definition: 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)

### leach

[Link to this fact](https://atlas-extractions.minestarters.com/news/batero-gold-reports-updated-ni-43-101-resource-estimate-at-la-cumbre-deposit--ac4344c3-c9b9-441e-8641-52c94a264cfd#fact-metallurgical-facts-0)

La Cumbre Deposit · gold

#### 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 factor: 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.