VANCOUVER, Dec. 9, 2019 /CNW/ - B2Gold Corp. (TSX: BTO, NYSE
AMERICAN: BTG, NSX: B2G) ("B2Gold" or the "Company") announces
positive year-end exploration drill results for the Fekola property
and Anaconda area.
Highlights
- Positive infill drilling of the Fekola Inferred Mineral
Resource
- Fekola remains open to the north with new good-grade drill
results
- Anaconda area exploration
results:
-
- New drill results extend the Mamba and Adder saprolite zones
(located 20 kilometres
north of Fekola)
- Additional high-grade drill intercepts expand the Mamba
sulphide (bedrock) discovery below the saprolite
- Initial positive drilling results from the Cardinal and FMZ
zones indicate potential for additional gold deposits near the
Fekola open-pit mine
Recent Exploration
As part of B2Gold's continuing exploration of the Fekola and
Anaconda regional projects in
2019, the Company completed approximately 114,000 metres of
combined reverse circulation, diamond, aircore and auger drilling.
Drilling has resulted in the discovery of significant new
bedrock-hosted mineralization in the Mamba structure at
Anaconda. At Fekola, the infill
drilling results have continued to support the conversion of
Inferred Mineral Resources to Indicated Mineral Resources within
the resource pit boundary and drilling north of the resource pit
continues to extend good-grade mineralization, remaining open to
the north.
Fekola Resource Infill Drill Program and North Extension
Drilling
By November 2019, B2Gold completed
more than 25,000 metres of drilling in the area, with the majority
of the area having been sufficiently drilled to upgrade the 1.37
million ounces of Inferred Mineral Resource to Indicated Mineral
Resource status (see news release dated October 25, 2018). An updated resource model
is expected to be completed by the end of 2019.
As reported in September 2019,
excellent infill drill results were obtained from the deepest
portions of the 2018 $1,400/ounce
resource pit shell. Drill holes FKD_409 (4.03 grams per tonne
("g/t") gold over 30.50 metres from 437.5 metres), FKD_413 (10.44
g/t gold over 19.8 metres from 495.2 metres) and FKD_415 (3.3 g/t
gold over 38.2 metres from 467.5 metres) provide added confirmation
that significant intervals of high-grade gold mineralization occur
beyond the limits of the 2019 preliminary economic assessment pit
shell (see news release dated May 13,
2019). More recently, FKD_432 (1.50 g/t gold over 23.20
metres from 525.80 metres, including 2.44 g/t gold over 11.50
metres from 525.80 metres) shows that mineralization related to the
Fekola shear zone extends beyond the limits of the current pit
shells to the north. The Company plans on extensively testing the
potential for additional mineral resources at Fekola as part of the
proposed 2020 drill program.
Recent highlights from the Fekola North Extension drilling
include:
Target
|
Hole
ID
|
From
|
To
|
Metres
|
Au_g/t
|
Domain
|
Fekola
North
|
FKD_432
|
525.80
|
549.00
|
23.20
|
1.50
|
Sulphide
|
Fekola
North
|
Incl
|
528.40
|
539.90
|
11.50
|
2.44
|
Sulphide
|
Fekola
North
|
FKD_443
|
411.25
|
431.85
|
20.60
|
1.39
|
Sulphide
|
Fekola
North
|
Incl
|
411.25
|
429.00
|
17.75
|
1.50
|
Sulphide
|
Fekola
North
|
FKD_445
|
328.00
|
360.00
|
32.00
|
1.72
|
Sulphide
|
Fekola
North
|
Incl
|
334.00
|
360.00
|
26.00
|
1.94
|
Sulphide
|
Composites are
reported above a 0.6 g/t gold cutoff.
|
Included
high-grade intervals are reported above a 1.0 g/t gold
cutoff.
|
Fig. 1 – Fekola schematic long section:
To view an enhanced version of Fig. 1 – Fekola schematic long
section, please visit:
https://mma.prnewswire.com/media/1041905/B2Gold_Corp__B2Gold_Announces_Positive_Year_End_Exploration_Dril.jpg?p=original
Anaconda Area Exploration
In addition to the Fekola drill program, in 2019, B2Gold
completed over 45,000 metres of combined aircore, diamond and
reverse circulation drilling in the Anaconda region where the Company previously
announced an initial Inferred Mineral Resource estimate of 767,000
ounces of gold at 1.1 g/t in near-surface mineralization over 4.5
kilometres and up to 500 metres wide.
In 2019, drilling focused on increasing the known saprolite
resources at the Adder and Mamba zones and further testing the
underlying sulphide mineralization in the Mamba zone. At Adder,
drilling has extended the strike extent of mineralization up to 1
kilometre north of the known resource area. At Mamba, recent
drilling has extended the high-grade mineralized saprolite zone by
approximately 600 metres, resulting in more than 1 kilometre of
known strike length, and has led to the discovery of a continuous
bedrock sulphide zone down plunge of the Mamba zone's saprolite
mineralization. Good grade and width combinations, including
intersections in MSD_177 (2.64 g/t gold over 35.60 metres,
including 4.71 g/t gold over 11.00 metres from 267.00 metres) and
MSD_179 (4.94 g/t gold over 31.20 metres, including 10.02 g/t gold
over 13.80 metres from 133.80 metres), provide early indications
that the Mamba zone discovery has the potential to become a
significant new gold deposit for B2Gold near the Fekola Mine. This
Fekola-style, south-plunging body of sulphide mineralization
remains open down plunge and will be the subject of extensive
drilling in 2020.
Recent highlights from the Anaconda area exploration include:
Target
|
Hole
ID
|
From
|
To
|
Metres
|
Au_g/t
|
Domain
|
Adder
|
BNR_026
|
0.00
|
37.00
|
37.00
|
1.34
|
Saprolite
|
Adder
|
BNR_035
|
47.00
|
63.00
|
16.00
|
1.38
|
Saprolite
|
Adder
|
BNR_036
|
71.00
|
91.00
|
20.00
|
2.99
|
Saprolite
|
Adder
|
BNR_037
|
112.00
|
127.00
|
15.00
|
1.73
|
Saprolite
|
Adder
|
BNR_033
|
4.00
|
19.00
|
15.00
|
1.21
|
Saprolite
|
Adder
|
BNR_061
|
17.00
|
67.00
|
50.00
|
1.09
|
Saprolite
|
Mamba
|
BND_003
|
127.60
|
146.70
|
19.10
|
3.16
|
Sulphide
|
Mamba
|
Incl
|
127.60
|
141.90
|
14.30
|
3.70
|
Sulphide
|
Mamba
|
BND_003
|
151.90
|
169.00
|
17.10
|
1.56
|
Saprolite
|
Mamba
|
MSD_175
|
124.30
|
134.00
|
9.70
|
4.23
|
Sulphide
|
Mamba
|
Incl
|
125.50
|
134.00
|
8.50
|
4.70
|
Sulphide
|
Mamba
|
MSD_177
|
267.00
|
302.60
|
35.60
|
2.64
|
Sulphide
|
Mamba
|
Incl
|
267.00
|
278.00
|
11.00
|
4.71
|
Sulphide
|
Mamba
|
MSD_178
|
180.50
|
194.20
|
13.70
|
2.09
|
Sulphide
|
Mamba
|
MSD_178
|
251.60
|
286.50
|
34.90
|
1.03
|
Sulphide
|
Mamba
|
Incl
|
259.60
|
280.00
|
20.40
|
1.10
|
Sulphide
|
Mamba
|
MSD_179
|
123.20
|
154.40
|
31.20
|
4.94
|
Sulphide
|
Mamba
|
Incl
|
133.80
|
147.60
|
13.80
|
10.02
|
Sulphide
|
Sulphide
composites are reported above a 0.6 g/t gold cutoff.
|
Saprolite
composites are reported above a 0.2 g/t gold cutoff.
|
Included
high-grade intervals are reported above a 1.0 g/t gold
cutoff.
|
Fig. 2 – Anaconda regional plan
map:
To view an enhanced version of Fig. 2 – Anaconda regional plan map, please visit:
https://mma.prnewswire.com/media/1041906/B2Gold_Corp__B2Gold_Announces_Positive_Year_End_Exploration_Dril.jpg?p=original
Fig. 3 – Mamba schematic long section:
To view an enhanced version of Fig. 3 – Mamba schematic long
section, please visit:
https://mma.prnewswire.com/media/1041907/B2Gold_Corp__B2Gold_Announces_Positive_Year_End_Exploration_Dril.jpg?p=original
Fekola Regional Exploration
Near Fekola, over 7,500 metres of initial drilling was completed
on the Cardinal and FMZ structures which have demonstrated the
potential to host near-surface mineralization within 3 kilometres
of the Fekola mill. Additional drilling is required and is
scheduled for completion in 2020.
Recent highlights from the Cardinal and FMZ exploration programs
include:
Target
|
Hole
ID
|
From
|
To
|
Metres
|
Au_g/t
|
Domain
|
Cardinal
|
FER_067
|
87.00
|
111.00
|
24.00
|
1.80
|
Sulphide
|
Cardinal
|
Incl
|
104.00
|
110.00
|
6.00
|
5.46
|
Sulphide
|
Cardinal
|
FER_068
|
66.00
|
72.00
|
6.00
|
3.52
|
Sulphide
|
Cardinal
|
FER_069
|
20.00
|
40.00
|
20.00
|
3.46
|
Saprolite
|
Cardinal
|
FER_070
|
57.00
|
73.00
|
16.00
|
1.58
|
Sulphide
|
Cardinal
|
FER_073
|
57.00
|
64.00
|
7.00
|
3.34
|
Sulphide
|
Cardinal
|
Incl
|
58.00
|
64.00
|
6.00
|
3.75
|
Sulphide
|
Cardinal
|
FER_077
|
80.00
|
118.00
|
38.00
|
1.15
|
Sulphide
|
Cardinal
|
Incl
|
94.00
|
106.00
|
12.00
|
1.80
|
Sulphide
|
Cardinal
|
FER_080
|
57.00
|
64.00
|
7.00
|
14.54
|
Sulphide
|
Cardinal
|
FER_085
|
19.00
|
30.00
|
11.00
|
2.35
|
Sulphide
|
Cardinal
|
FKD_427
|
233.00
|
251.00
|
18.00
|
2.12
|
Sulphide
|
Cardinal
|
Incl
|
233.00
|
248.40
|
15.40
|
2.41
|
Sulphide
|
Cardinal
|
FKD_438
|
74.75
|
81.00
|
6.25
|
7.08
|
Sulphide
|
Cardinal
|
FKD_440
|
182.40
|
191.57
|
9.17
|
2.69
|
Sulphide
|
Cardinal
|
Incl
|
186.56
|
191.57
|
5.01
|
4.63
|
Sulphide
|
Cardinal
|
FKD_448
|
129.80
|
138.40
|
8.60
|
2.53
|
Sulphide
|
FMZ
|
FER_093
|
107.00
|
119.00
|
12.00
|
2.73
|
Sulphide
|
Composites are
reported above a 0.6 g/t gold cutoff.
|
Included
high-grade intervals are reported above a 1.0 g/t gold
cutoff.
|
Ongoing Exploration
Drilling on the Fekola and Anaconda regional projects will continue in
2020 with a proposed exploration budget in West Mali of approximately $18 million.
About B2Gold Corp.
Headquartered in Vancouver,
Canada, B2Gold is the world's new senior gold producer.
Founded in 2007, today, B2Gold has three operating gold mines and
numerous exploration and development projects in various countries
including, Mali, the Philippines, Namibia and Colombia. In 2020, B2Gold forecasts
consolidated gold production of between 1,005,000 and 1,050,000
ounces.
QA/QC on Sample Collection and Assaying
The primary laboratories for Fekola are SGS
Laboratories in Bamako, Mali and
Bureau Veritas Laboratories in Abidjan,
Cote d'Ivoire. Periodically, exploration samples will be
analyzed at the Fekola mine lab. At each lab, samples are prepared
and analyzed using 50 g fire assay with atomic absorption finish
and/or gravimetric finish. Umpire assays are used to monitor lab
performance monthly.
Quality assurance and quality control ("QA/QC") procedures
include the systematic insertion of blanks, standards and
duplicates into the core, reverse circulation and aircore drilling
sample strings. The results of the control samples are evaluated on
a regular basis with batches re-analyzed and/or resubmitted as
needed. All results stated in this news release have passed
B2Gold's QA/QC protocols.
Qualified Persons
Tom Garagan, Senior Vice
President of Exploration at B2Gold, a qualified person under NI
43-101, has approved the exploration information contained in this
news release.
B2Gold Investor Day 2019: Webcast
Details
B2Gold will be hosting an Investor Day in Vancouver, British Columbia, Canada, on
Monday, December 9, 2019, at
1:00 pm PST/4:00 pm EST.
The event will feature presentations from B2Gold executives and
senior managers from around the world and will be followed by
Q&A sessions.
The Investor Day will be available to view via live video
webcast which you may access by clicking here:
https://www.b2gold.com/investor-day-2019/. A playback version of
the webcast will be available for one year after the event.
On Behalf of B2GOLD CORP.
"Clive T.
Johnson"
President and Chief Executive
Officer
For more information on B2Gold, please visit the Company website
at www.b2gold.com or contact:
Ian
MacLean
|
Katie Bromley
|
Vice President,
Investor Relations
|
Manager,
Investor Relations & PublicRelations
|
+1
604-681-8371
|
+1
604-681-8371
|
imaclean@b2gold.com
|
kbromley@b2gold.com
|
The Toronto Stock Exchange and the NYSE American LLC
neither approve nor disapprove the information contained in this
news release.
This news release includes certain "forward-looking
information" and "forward-looking statements" (collectively
"forward-looking statements") within the meaning of applicable
Canadian and United States
securities legislation, including projections, estimates and other
statements regarding future financial and operational performance,
events, production, costs, including projected cash operating costs
and all-in sustaining costs, capital expenditures, budgets and
growth, production estimates and guidance, including the Company's
projected gold production of between 1,005,000 and 1,050,000 ounces
in 2020, and statements regarding anticipated exploration,
development, construction, production, permitting and other
activities and achievements of the Company, including but not
limited to: mineralization in the upper portion of the Fekola North
Extension zone being one continuous mineralized zone and the
potential to increase the extent of Fekola mineralization; the
potential to extend good-grade mineralization much further north
from the Fekola resource pit boundary; results indicating the
deeper portion of the Fekola Northern Extension zone extending
closer to surface and indicating continuity with mineralization
from the deeper drilling results from the upper portion of the
Fekola North Extension; the potential for additional large Fekola
style deposits; the potential for highly prospective structures
beneath the Anaconda and Mamba
zones; the conversion of inferred mineral resources to indicated
mineral resources; the projections included in existing technical
reports, economic assessments and feasibility studies; the results
of anticipated or potential new technical reports and studies,
including the potential findings and conclusions thereof. Estimates
of mineral resources and reserves are also forward-looking
statements because they constitute projections regarding the amount
of minerals that may be encountered in the future and/or the
anticipated economics of production, should a production decision
be made. All statements in this news release that address events or
developments that we expect to occur in the future are
forward-looking statements. Forward-looking statements are
statements that are not historical facts and are generally,
although not always, identified by words such as "expect", "plan",
"anticipate", "project", "target", "potential", "schedule",
"forecast", "budget", "estimate", "intend" or "believe" and similar
expressions or their negative connotations, or that events or
conditions "will", "would", "may", "could", "should" or "might"
occur. All such forward-looking statements are based on the
opinions and estimates of management as of the date such statements
are made. Forward-looking statements necessarily involve
assumptions, risks and uncertainties, certain of which are beyond
B2Gold's control, including risks and assumptions associated with
the volatility of metal prices and our common shares; risks and
dangers inherent in exploration, development and mining activities;
uncertainty of reserve and resource estimates; risk of not
achieving production, cost or other estimates; risk that actual
production, development plans and costs differ materially from the
estimates in our feasibility studies; risks related to hedging
activities and ore purchase commitments; the ability to obtain and
maintain any necessary permits, consents or authorizations required
for mining activities; risks related to environmental regulations
or hazards and compliance with complex regulations associated with
mining activities; the ability to replace mineral reserves and
identify acquisition opportunities; unknown liabilities of
companies acquired by B2Gold; ability to successfully integrate new
acquisitions; fluctuations in exchange rates; availability of
financing; risks relating to financing and debt; risks related to
operations in foreign and developing countries and compliance with
foreign laws; risks related to remote operations and the
availability of adequate infrastructure, fluctuations in price and
availability of energy and other inputs necessary for mining
operations; shortages or cost increases in necessary equipment,
supplies and labour; regulatory, political and country risks; risks
related to reliance upon contractors, third parties and joint
venture partners; challenges to title or surface rights; dependence
on key personnel and ability to attract and retain skilled
personnel; the risk of an uninsurable or uninsured loss; adverse
climate and weather conditions; litigation risk; competition with
other mining companies; changes in tax laws; community support for
our operations including risks related to strikes and the halting
of such operations from time to time; risks related to failures of
information systems or information security threats; ability
to maintain adequate internal control over financial reporting as
required by law; risks relating to compliance with anti-corruption
laws; as well as other factors identified and as described in more
detail under the heading "Risk Factors" in B2Gold's most recent
Annual Information Form and B2Gold's other filings with Canadian
securities regulators and the U.S. Securities and Exchange
Commission (the "SEC"), which may be viewed at www.sedar.com and
www.sec.gov, respectively (the "Websites"). The list is not
exhaustive of the factors that may affect the Company's
forward-looking statements. There can be no assurance that such
statements will prove to be accurate, and actual results,
performance or achievements could differ materially from those
expressed in, or implied by, these forward-looking statements.
Accordingly, no assurance can be given that any events anticipated
by the forward-looking statements will transpire or occur, or if
any of them do, what benefits or liabilities B2Gold will derive
therefrom. The Company's forward-looking statements reflect current
expectations regarding future events and operating performance and
speak only as of the date hereof and the Company does not assume
any obligation to update forward-looking statements if
circumstances or management's beliefs, expectations or opinions
should change other than as required by applicable law. The
Company's forward-looking statements are based on the applicable
assumptions and factors management considers reasonable as of the
date hereof, based on the information available to management at
such time. These assumptions and factors include, but are not
limited to, assumptions and factors related to the Company's
ability to carry on current and future operations, including
development and exploration activities; the timing, extent,
duration and economic viability of such operations, including any
mineral resources or reserves identified thereby; the accuracy and
reliability of estimates, projections, forecasts, studies and
assessments; the Company's ability to meet or achieve estimates,
projections and forecasts; the availability and cost of inputs; the
price and market for outputs, including gold; the timely receipt of
necessary approvals or permits; the ability to meet current and
future obligations; the ability to obtain timely financing on
reasonable terms when required; the current and future social,
economic and political conditions and other assumptions and factors
generally associated with the mining industry. For the reasons set
forth above, undue reliance should not be placed on forward-looking
statements.
Cautionary Note to United States Investors
The Company has prepared its public disclosures in accordance
with Canadian securities laws, which differ in certain respects
from U.S. securities laws. In particular, this news release may
refer to "mineral resources", "measured mineral resources",
"indicated mineral resources" or "inferred mineral resources".
While these categories of mineralization are recognized and
required by Canadian securities laws, they are not recognized by
the SEC and are not normally permitted to be disclosed in SEC
filings by U.S. companies. U.S. investors are cautioned not to
assume that any part of a "mineral resource", "measured mineral
resource", "indicated mineral resource" or "inferred mineral
resource" will ever be converted into a "reserve." In addition,
"reserves" reported by the Company under Canadian standards may not
qualify as reserves under SEC standards. Under SEC standards,
mineralization may not be classified as a "reserve" unless the
mineralization can be economically and legally extracted or
produced at the time the "reserve" determination is made.
Accordingly, information contained or referenced in this news
release containing descriptions of the Company's mineral deposits
may not be compatible to similar information made public by U.S.
companies subject to the reporting and disclosure requirements of
U.S. federal securities laws, rules and regulations. "Inferred
mineral resources" have a great amount of uncertainty as to their
existence and great uncertainty as to their economic and legal
feasibility. It cannot be assumed that all or any part of an
inferred mineral resource will ever be upgraded to a higher
category. Historical results or feasibility models presented herein
are not guarantees or expectations of future performance.
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SOURCE B2Gold Corp.