B2Gold Corp. and Calibre Mining Corp. Announce Further Positive Drill Results at the Primavera Gold and Copper Porphyry Proje...
June 28 2012 - 8:54AM
Marketwired
B2Gold Corp. (TSX:BTO)(OTCQX:BGLPF)(NAMIBIAN:B2G) ("B2Gold") and
Calibre Mining Corp. (TSX VENTURE:CXB) ("Calibre") are pleased to
announce final phase I drill results at the Primavera Gold and
Copper Porphyry joint venture project in Nicaragua. A 10,000 metre
phase II drilling program at Primavera began in mid-June with one
drill rig. A second drill is expected on site in the next month.
Commensurate with the drilling, an aggressive exploration effort
including a Lidar topographic survey, air-mag, and IP as well as
regional soil sampling is in progress.
Final results from the remaining three drill holes from the
phase I drilling program include 159.53 metres of 0.46 grams per
tonne "g/t" gold and 0.2% copper (PR-12-011), 97 metres of 0.34 g/t
gold and 0.16% copper (PR-12-012), and 22.5 metres of 0.44 g/t gold
and 0.21% copper (PR-12-013). All three drill holes lie along the
eastern side of the Primavera porphyry deposit and northwest of the
vein cut in drill hole PR-12-010.
--------------------------------------------------------------
Drill Hole From To Interval Gold Copper
--------------------------------------------------------------
(metres) (metres) (metres) (ppm) (ppm)
--------------------------------------------------------------
PR-12-011 6.95 166.48 159.53 0.46 2,008
--------------------------------------------------------------
including 6.95 95.65 88.70 0.53 2,225
--------------------------------------------------------------
and 166.48 215.50 49.02 0.21 977
--------------------------------------------------------------
and 262.00 285.15 23.15 0.19 1,306
--------------------------------------------------------------
PR-12-012 6.00 103.00 97.00 0.34 1,646
--------------------------------------------------------------
PR-12-013 24.00 46.50 22.50 0.44 2,090
--------------------------------------------------------------
and 46.50 87.00 40.50 0.25 1,150
--------------------------------------------------------------
The ongoing regional soil sampling and mapping program on the
Primavera claims has generated additional targets that will require
more detailed work as the exploration effort continues. Numerous
occurrences of skarn and hornfels alteration and gold-copper
mineralization associated with intermediate intrusive rocks
indicate potential for other porphyry targets exists elsewhere on
the property. Trenching will follow up in these areas. The largest
of these occurrences found to date lies immediately adjacent and to
the west of the Primavera zone itself at Copper Hill and is
comprised of an andesitic volcanic sequence intercalated with
strongly altered (hornfelsed) sediments cut by copper-gold bearing
quartz veins. The copper-gold anomaly that includes both Primavera
and Copper Hill covers an area over 900 metres long and 600 metres
wide. The Copper Hill Zone lies within the Primavera hanging wall
along a north-north-east trending fault intersected in the phase I
drilling program. None of the drilling to date has tested this
hanging wall for the faulted portion of the porphyry
mineralization.
Phase II drilling will concentrate on expansion of the main
Primavera zone, additional drilling along the northeast trending
vein zone to the south of Primavera, and test for the offset
porphyry mineralization at Copper Hill and the intervening covered
area in-between Primavera and Copper Hill itself. Also several
drill holes will be located peripheral to the main porphyry
discovery where anomalous soil samples were not investigated in the
first phase of drilling.
Several drill holes have been located to test the extent and
continuity of the vein style mineralization cut in hole PR-12-010
south of Primavera. The vein itself is approximately 13 metres wide
(apparent width) and contained abundant chalcopyrite and other base
metal mineralization. The soil and rock chip anomaly associated
with the vein zone extends for just over 900 metres.
The excellent infrastructure at Primavera allows for easy access
to the main Primavera Zone which will be drilled using a track
mounted CS-1000 to allow for deep drilling. Some of the peripheral
targets will be drilled using a man-portable machine. The drilling
is expected to take two to three months to complete in the area of
Primavera itself while the geophysical surveys and sampling program
should be finished by early July. In all likelihood the drilling
program will include some additional targets that have begun to
emerge from the regional exploration effort.
Quality assurance and quality control procedures include the
systematic insertion of blanks, standards and duplicates into the
rock sample strings. Samples are placed in sealed bags and shipped
directly to Inspectorate Labs in Managua, Nicaragua for sample
preparation. A split was sent from Inspectorate to ALS Labs in
Vancouver for gold and silver fire assay and ICP multi-element
analysis.
Tom Garagan is the Qualified Person as defined under National
Instrument 43-101 for B2Gold and Gregory Smith, P.Geo., President
& Chief Executive Officer, is the Qualified Person for
Calibre.
On Behalf of B2GOLD CORP.
Tom Garagan, Senior Vice President of Exploration
On Behalf of CALIBRE MINING CORP.
Gregory Smith, President & Chief Executive Officer
The securities described herein have not been and will not be
registered under the United States Securities Act of 1933, as
amended, and may not be offered or sold in the United States absent
registration or an applicable exemption from registration
requirements.
Some of the statements contained in this release are
forward-looking statements, such as estimates and statements that
describe the Company's future plans, objectives or goals, including
words to the effect that the Company or management expects a stated
condition or result to occur. Since forward-looking statements
address future events and conditions, by their very nature, they
involve inherent risks and uncertainties. Actual results in each
case could differ materially from those currently anticipated in
such statements.
Neither the Toronto Stock Exchange nor the TSX Venture Exchange
approves nor disapproves the information contained in this news
release.
Contacts: B2Gold Corp. Ian MacLean Vice President, Investor
Relations 604-681-8371 B2Gold Corp. Kerry Suffolk Manager, Investor
Relations 604-681-8371 www.b2gold.com Contacts: Calibre Mining
Corp. Mark Carruthers Manager, Investor Relations 604-681-9944
www.calibremining.com
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