VANCOUVER, BC,
June 22,
2022 /PRNewswire/ - B2Gold Corp. (TSX: BTO) (NYSE
AMERICAN: BTG) (NSX: B2G) ("B2Gold" or the "Company") is
pleased to announce additional positive exploration drilling
results from Fekola North and the Anaconda area, and provide an update on the
development of the Anaconda
area.
Highlights
- High grade results from the Fekola North target area such as
drill hole FKD_64, which returned 4.28 grams per tonne ("g/t") gold
over 19.15 metres, from 529.0 metres, provides strong support for
ongoing evaluation of underground development of the deepest
portions of the Fekola Mine deposit
- In the Anaconda area,
approximately 20 kilometres north of the Fekola Mine, drill hole
MSD_212, which returned 8.09 g/t gold over 15.8 metres, from 431.1
metres, confirms the presence of high grade sulphide, approximately
100 metres below the limits of the current Mineral Resource pit
boundary. The good grade and width combinations at the Anaconda area continue to provide a strong
indication of the potential for Fekola-style plunging bodies of
sulphide mineralization, which remain open at depth
- Ongoing drilling by the Company on the Anaconda area to infill and extend the
saprolite Mineral Resource area, and to follow up on the sulphide
mineralization, including the Mamba and Adder zones, as well as
several other targets below the saprolite mineralization, continues
to generate positive drill results in both saprolite and sulphide
domains and demonstrates strong potential to further increase the
updated Anaconda area Mineral
Resource estimate
- Following the recent acquisition of the Bakolobi permit,
immediately south of the Menankoto permit, the Company will conduct
an approximately $3.4 million
exploration program for 50,200 metres of diamond and reverse
circulation drilling in the second half of 2022
- The Company recently announced the acquisition of Oklo
Resources Limited and its Dandoko project, located approximately 25
kilometres from the Fekola Mine (subject to completion)
Click here to view B2Gold's West Mali Tenement Map 2022
2022 Exploration Drilling
B2Gold is currently conducting a 225,000 metre drill program in
western Mali with a 2022
exploration budget of $35 million,
including drill programs on the Fekola North deposit to further
test the underground potential, and the Anaconda area, including the Mamba, Adder,
Anaconda. Cascabel, Viper and
Cobra zones. To date in 2022, the Company has completed
approximately 70,000 metres of combined diamond, reverse
circulation and aircore drilling on targets near the Fekola Mine,
primarily targeting deep extensions of the Fekola deposit to the
north and below the current reserve pit, and in the Anaconda Area, primarily on the Mamba, Adder
and Cascabel zones), between 20 and 25 kilometres north of the
Fekola Mine.
Fekola North Exploration
Drilling undertaken since December
2021 at the Fekola North deposit has partially infilled
areas of the deepest portions of the current Mineral Resource area
and also tested beyond the limits of the current Mineral Resource
pit in areas believed to be amenable to underground
development. Drill holes such as FKD_641, which returned 4.28
g/t gold over 19.15 metres, from 529.0 metres, and hole FKD_632
which returned 3.86 g/t gold over 9.73 metres, from 502.14
metres, intersect high grade sulphide mineralization in step outs
beyond the limit of the current Mineral Resource pit and provide
strong positive support to the ongoing evalution of underground
mining at Fekola. The Company has completed approximately 15,000
metres of deep diamond drilling on the Fekola North deposit in
2022, with two drill rigs currently active.
Select results from the Fekola North from drilling
since December 2021 include:
Hole
ID
|
Depth
From
|
Depth
To
|
Interval
|
Au
g/t
|
FKD_620
|
530.00
|
548.3
|
18.3
|
4.00
|
FKD_622
|
550.78
|
557.00
|
6.22
|
4.64
|
FKD_623
|
502.00
|
520.40
|
18.40
|
7.32
|
FKD_625
|
528.83
|
544.00
|
15.17
|
4.06
|
FKD_626
|
558.80
|
577.80
|
19.00
|
4.38
|
FKD_629
|
444.20
|
463.00
|
18.80
|
3.17
|
FKD_631
|
472.85
|
481.30
|
8.45
|
3.36
|
and
|
487.30
|
494.66
|
7.36
|
5.72
|
FKD_632
|
502.14
|
506.00
|
3.86
|
9.73
|
FKD_633
|
508.67
|
519.60
|
10.93
|
3.59
|
and
|
526.70
|
530.20
|
3.50
|
3.39
|
FKD_636
|
627.76
|
635.00
|
7.24
|
5.90
|
FKD_638
|
430.00
|
435.40
|
5.40
|
3.26
|
and
|
443.35
|
461.20
|
17.85
|
5.86
|
and
|
469.30
|
477.60
|
8.30
|
3.28
|
FKD_639
|
638.20
|
642.40
|
4.20
|
7.82
|
FKD_641
|
529.00
|
548.15
|
19.15
|
4.28
|
FKD_644
|
540.25
|
544.00
|
3.75
|
4.98
|
Composites are uncapped and reported above 1.85 g/t gold
cutoff, which approximates current underground cut-off
grades. Core lengths are approximately 85-90% of true
width.
Anaconda Area Exploration
On March 23, 2022, the Company announced an updated
and significantly increased Mineral Resource estimate for
the Anaconda area, comprised of the Menankoto permit and
the Bantako North permit, located approximately 25 kilometres from
the Fekola Mine. The updated and significantly increased Anaconda
Mineral Resource estimate, constrained within a conceptual pit
shell at a gold price of $1,800 per ounce, included an
initial Indicated Mineral Resource estimate of 32,400,000 tonnes at
1.08 g/t gold for a total 1,130,000 ounces of gold, and Inferred
Mineral Resource estimate of 63,700,000 tonnes at 1.12 g/t gold for
2,280,000 ounces of gold. The Mineral Resource estimate included
first time reporting of 1,130,000 ounces of Indicated Mineral
Resources and an increase of 1,510,000 ounces (196% increase) of
Inferred Mineral Resources since the initial Inferred Mineral
Resource estimate in 2017 (21,590,000 tonnes at 1.11 g/t gold, for
767,000 ounces.
On the Mamba zone, drill hole BND_090, which returned 4.34 g/t
gold over 5.6 metres, from 130.1 metres, and hole MSD_212, which
returned 8.09 g/t gold over 15.8 metres, from 431.10 metres, are
particularly significant as they confirm the continuity of high
grade sulphide mineralization 110 metres below the limit of the
updated Mineral Resource pit boundaries. In the main Anaconda area Mineral Resource pit, drill hole
MSR_938, which returned 3.32 g/t gold over 10 metres, from 92
metres, and drill hole MSR_939, which returned 1.49 g/t gold over
50 metres, from 71 metres, demonstrate the potential to add
sulphide Mineral Resources beneath the currently defined saprolite
resources, where the mineralization remains open at depth.
Select results from the Anaconda area exploration drilling
include:
Hole
ID
|
From
|
To
|
Metres
|
Au
g/t
|
Domain
|
BND_088
|
71.30
|
95.20
|
23.90
|
1.85
|
Saprolite
|
and
|
143.00
|
147.55
|
4.55
|
7.08
|
Sulphide
|
BND_089
|
42.20
|
62.50
|
20.30
|
1.34
|
Saprolite
|
BND_090
|
131.10
|
136.70
|
5.60
|
4.34
|
Saprolite
|
BNR_542
|
0.00
|
13.00
|
13.00
|
3.26
|
Saprolite
|
MSD_212
|
431.10
|
446.90
|
15.80
|
8.09
|
Sulphide
|
and
|
567.00
|
586.00
|
19.00
|
2.64
|
Sulphide
|
MSR_918
|
21.00
|
42.00
|
21.00
|
3.96
|
Saprolite
|
MSR_920
|
26.00
|
48.00
|
22.00
|
1.59
|
Saprolite
|
and
|
60.00
|
71.00
|
11.00
|
4.15
|
Sulphide
|
MSR_923
|
13.00
|
58.80
|
45.80
|
1.11
|
Saprolite
|
MSR_924
|
113.90
|
149.30
|
35.40
|
1.03
|
Sulphide
|
MSR_926
|
4.00
|
28.00
|
24.00
|
1.12
|
Saprolite
|
MSR_936
|
0.00
|
52.00
|
52.00
|
0.71
|
Saprolite
|
MSR_938
|
41.00
|
62.00
|
21.00
|
2.06
|
Sulphide
|
and
|
92.00
|
102.00
|
10.00
|
3.31
|
Sulphide
|
MSR_939
|
22.00
|
31.00
|
9.00
|
2.23
|
Saprolite
|
and
|
35.00
|
50.00
|
15.00
|
1.45
|
Saprolite
|
and
|
71.00
|
121.00
|
50.00
|
1.49
|
Sulphide
|
MSR_943
|
15.00
|
43.00
|
28.00
|
1.88
|
Saprolite
|
MSR_943
|
44.00
|
70.00
|
26.00
|
1.12
|
Sulphide
|
MSR_944
|
40.00
|
63.00
|
23.00
|
1.31
|
Sulphide
|
Saprolite composites are reported above a 0.2 g/t gold
cutoff.
Sulphide composites are uncapped and reported above 0.6 g/t gold
cutoff.
Ongoing drilling by the Company on the Anaconda areas to infill and extend the
saprolite Mineral Resource area and to follow up on the sulphide
mineralization, including the Mamba and Adder zones, as well as
several other targets below the saprolite mineralization, continues
to generate positive drill results in both saprolite and sulphide
domains and demonstrates strong potential to further increase the
updated Anaconda area Mineral
Resource estimate.
2022 Fekola and West Mali Regional Exploration
For the remainder of 2022, the Company will continue to drill to
infill and extend the saprolite Mineral Resource area and to follow
up on the sulphide mineralization at the Anaconda area, including the Mamba and Adder
zones, and several other targets below the saprolite
mineralization. The good grade and width combinations at the
Anaconda area continue to provide
a strong indication of the potential for Fekola-style south
plunging bodies of sulphide mineralization, which remain open down
plunge. Six drill rigs are currently drilling in the Anaconda area.
In April 2022, the Company
acquired the Bakolobi permit in Mali from a local Malian company. The Bakolobi
permit is located between the Menankoto permit, to the North, and
the Fekola Mine's Medinandi permit, wrapping around the latter to
its south-west end, covering an area of 100 km2 and
providing approximately 25 km of contiguous exploration potential
along the Senegal-Mali Shear Zone An initial $3.4 million exploration program on the Bakolobi
permit is scheduled for the second half of 2022. Drilling
will focus on the southward extension of known resources in the
Anaconda area. The Company
believes that the Bakolobi permit is a highly prospective area that
has the potential to provide for the near-term addition of both
saprolite- and sulphide-hosted gold deposits.
B2Gold's proposed acquisition of Oklo Resources Limited and its
flagship Dandoko project, which remains subject to completion, will
extend the footprint of B2Gold's exploration in Mali to over 1,700 km2 and add the
Dandoko project's JORC 2012 compliant Measured and Indicated
Mineral Resource estimate of 8.70 million tonnes at 1.88 g/t for
528,000 ounces of gold and an Inferred Mineral Resource estimate of
2.63 million tonnes at 1.67 g/t for 141,000 ounces of gold, to
B2Gold's rapidly growing Mineral Resource inventory in the region.
The Company believes there is strong potential to extend the
mineralization at the Dandoko project
The Company also has one drill rig active on the Kolomba
regional target, which is located approximately 15 kilometers from
the Anaconda area, with assay
results pending.
Anaconda Development Update
In 2022, the Company has budgeted $33 million for
development of infrastructure for Phase I saprolite mining at
the Anaconda area, including road construction. Based on
the updated Mineral Resource estimate and B2Gold's preliminary
planning, the Company has demonstrated that a pit situated on
the Anaconda area could provide selective higher grade
saprolite material (average grade of 2.2 g/t) to be trucked to and
fed into the Fekola mill commencing as early as late 2022 at a rate
of 1.5 million tonnes per annum. Subject to obtaining all necessary
permits and completion of a final development plan, the trucking of
selective higher grade saprolite material to the Fekola mill would
increase the ore processed and annual gold production from the
Fekola mill, with the potential to add an average of approximately
80,000 to 100,000 ounces per year to the Fekola mill's annual gold
production. The plan to truck the selective higher grade saprolite
material is not included in the Company's 2022 production guidance
and the Anaconda area Mineral Resources have not been
included in the current Fekola life of mine plan.
Based on the updated Mineral Resource estimate and the 2022
exploration drilling results, the Company has commenced a Phase II
scoping study to review the project economics of constructing a
stand-alone mill near the Anaconda area. Subject to
receipt of a positive Phase II scoping study, the Company expects
that the saprolite material would continue to be trucked to and fed
into the Fekola mill during the construction period for
the Anaconda area stand-alone mill.
QA/QC on Sample Collection and Assaying
The primary laboratories for the Fekola Mine and West Mali regional exploration 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 laboratory. At each laboratory,
samples are prepared and analyzed using 50-gram fire assay with
atomic absorption finish and/or gravimetric finish. Umpire assays
are used to monitor lab performance monthly.
Quality assurance and quality control 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 announcement have passed B2Gold's quality assurance
and quality control protocols.
Qualified Person
Tom Garagan, Senior Vice
President of Exploration at B2Gold, a qualified person under
National Instrument 43-101, has reviewed and approved the
information contained in this news release.
About B2Gold Corp.
B2Gold is a low-cost international senior gold producer
headquartered in Vancouver,
Canada. Founded in 2007, today, B2Gold has operating gold
mines in Mali, Namibia and the
Philippines and numerous exploration and development
projects in various countries including Mali, Colombia, Finland and Uzbekistan. B2Gold forecasts total
consolidated gold production of between 990,000 and 1,050,000
ounces in 2022.
On Behalf of B2GOLD CORP.
"Clive T.
Johnson"
President & Chief Executive Officer
For more information on B2Gold, please visit the Company's
website at www.b2gold.com or contact:
Randall
Chatwin
|
Cherry
DeGeer
|
SVP, Legal &
Corporate Communications
|
Director, Corporate
Communications
|
+1
604-681-8371
|
+1
604-681-8371
|
rchatwin@b2gold.com
|
cdegeer@b2gold.com
|
The Toronto Stock Exchange and NYSE American LLC neither
approve nor disapprove the information contained in this news
release.
Production guidance presented in this news release reflect
total production at the mines B2Gold operates on a 100% project
basis. Please see our Annual Information Form dated March 30, 2022 for a discussion of our ownership
interest in the mines B2Gold operates.
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; outlook; guidance;
forecasts; estimates; statements regarding future or estimated
financial and operational performance, gold production and sales,
revenues and cash flows, and capital costs (sustaining and
non-sustaining) and operating costs, and including, without
limitation: statements regarding the Transaction, including,
without limitation, the completion of the Oklo transaction,
including receipt of all necessary regulatory approvals, including
from the TSX and NYSE MKT, and the satisfaction of conditions;
total consolidated gold production of between 990,000 and 1,050,000
ounces in 2022. 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 associated with or related to: the
duration and extent of the COVID-19 pandemic, the effectiveness of
preventative measures and contingency plans put in place by the
Company to respond to the COVID-19 pandemic, including, but not
limited to, social distancing, a non-essential travel ban, business
continuity plans, and efforts to mitigate supply chain disruptions;
escalation of travel restrictions on people or products and
reductions in the ability of the Company to transport and refine
doré; the volatility of metal prices and B2Gold's common shares;
changes in tax laws; the dangers inherent in exploration,
development and mining activities; the uncertainty of reserve and
resource estimates; not achieving production, cost or other
estimates; actual production, development plans and costs differing
materially from the estimates in B2Gold's feasibility and other
studies; the ability to obtain and maintain any necessary permits,
consents or authorizations required for mining activities;
environmental regulations or hazards and compliance with complex
regulations associated with mining activities; climate change and
climate change regulations; the ability to replace mineral reserves
and identify acquisition opportunities; the unknown liabilities of
companies acquired by B2Gold; the ability to successfully integrate
new acquisitions; fluctuations in exchange rates; the availability
of financing; financing and debt activities, including potential
restrictions imposed on B2Gold's operations as a result thereof and
the ability to generate sufficient cash flows; operations in
foreign and developing countries and the compliance with foreign
laws, including those associated with operations in Mali, Namibia, the Philippine and Colombia and including risks related to
changes in foreign laws and changing policies related to mining and
local ownership requirements or resource nationalization generally,
including in response to the COVID-19 outbreak; 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, including local instability or acts of terrorism and the
effects thereof; the reliance upon contractors, third parties and
joint venture partners; the lack of sole decision-making authority
related to Filminera Resources Corporation, which owns the Masbate
Project; challenges to title or surface rights; the dependence on
key personnel and the 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; community support for B2Gold's operations,
including risks related to strikes and the halting of such
operations from time to time; conflicts with small scale miners;
failures of information systems or information security threats;
the ability to maintain adequate internal controls over financial
reporting as required by law, including Section 404 of the
Sarbanes-Oxley Act; compliance with anti-corruption laws, and
sanctions or other similar measures; social media and B2Gold's
reputation; risks affecting Calibre having an impact on the value
of the Company's investment in Calibre, and potential dilution of
our equity interest in Calibre; 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, B2Gold's current Form
40-F Annual Report 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 B2Gold's forward-looking
statements
B2Gold'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 B2Gold's
ability to carry on current and future operations, including: the
duration and effects of COVID-19 on our operations and
workforce; 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; B2Gold's ability to meet or achieve
estimates, projections and forecasts; the availability and cost of
inputs; the price and market for outputs, including gold; foreign
exchange rates; taxation levels; 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.
B2Gold's forward-looking statements are based on the opinions
and estimates of management and reflect their current expectations
regarding future events and operating performance and speak only as
of the date hereof. B2Gold 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. There can be no assurance that
forward-looking 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. For the reasons set forth above, undue
reliance should not be placed on forward-looking
statements.
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SOURCE B2Gold Corp.