B2Gold Corp. (TSX:BTO) (NYSE MKT:BTG) (NSX:B2G) (“B2Gold” or the
“Company”) is pleased to announce positive exploration results for
its Kiaka and Fekola projects in West Africa (Burkina Faso and
Mali, respectively). All dollar figures are in United States
dollars unless otherwise indicated.
Following recent successes by the regional
exploration programs in Burkina Faso and Mali, B2Gold has budgeted
$19.95 million in 2017 for ongoing exploration of the Company’s
West African projects, an increase of $2.65 million over the 2016
budget.
Recent results from the 2016 programs
include:
Burkina Faso
Toega Prospect, Kiaka Regional
Program
B2Gold has recently increased the footprint of
known mineralization at the Toega prospect, as part of the Kiaka
deposit regional exploration program in Burkina Faso. In 2016, a
total of 19,433 metres of combined reverse circulation and diamond
drilling was completed, to better define the limits of this
discovery and to explore the immediate area for additional
mineralization. Last year’s drilling expanded the known extents of
mineralization at Toega to over 900 metres long, by up to 425
metres wide, with intersections of variable thickness occurring as
deep as 250 metres below surface. Mineralization remains open down
dip and down plunge at Toega. Drilling is ongoing. Due to the
increased size of the Toega zone, the Company now expects to
release the initial mineral resource for Toega in the third quarter
of 2017.
Gold mineralization in the Toega zone is hosted
by an easterly-dipping metasedimentary sequence, overprinted by
shallowly northeast plunging folds. Mineralized intervals in excess
of 100 metres of core length (e.g. NKRD020, 125 m at 1.66 g/t gold)
are localized in a plunging, high-grade “keel” to the
mineralization, which may be related to structural thickening by
folding. Mineralized zones are characterized by disseminated
pyrite, pyrrhotite, rare chalcopyrite and locally, by fine visible
gold, in association with quartz veining.
Highlights from recent 2016 drilling at Toega
zone include:
Hole ID |
From (m) |
To (m) |
Length (m) |
Gold (g/t) |
NKRC088 |
134.00 |
153.00 |
19.00 |
5.47 |
NKDD014 |
94.00 |
178.00 |
84.00 |
3.09 |
Incl. |
133.05 |
177.00 |
43.95 |
4.96 |
NKRC099 |
93.00 |
111.00 |
18.00 |
6.56 |
NKRC101 |
141.00 |
160.00 |
19.00 |
1.87 |
NKDD015 |
220.00 |
277.10 |
57.10 |
1.73 |
Incl. |
220.00 |
262.00 |
42.00 |
2.18 |
NKDD016 |
85.00 |
99.00 |
14.00 |
2.26 |
NKDD017 |
74.00 |
205.00 |
131.00 |
1.61 |
Incl. |
85.00 |
97.00 |
12.00 |
3.97 |
and |
128.40 |
178.00 |
49.60 |
2.42 |
NKDD013 |
99.00 |
161.00 |
62.00 |
1.66 |
Incl. |
143.90 |
161.00 |
17.10 |
3.53 |
and |
185.00 |
244.00 |
59.00 |
2.80 |
NKRC102 |
126.00 |
177.00 |
51.00 |
1.90 |
Incl. |
138.00 |
165.00 |
27.00 |
3.02 |
NKRC105 |
180.00 |
201.00 |
21.00 |
1.08 |
and |
207.00 |
217.00 |
10.00 |
3.40 |
NKRD020 |
60.00 |
185.00 |
125.00 |
1.66 |
NKDD024 |
93.80 |
147.00 |
53.20 |
1.89 |
Incl. |
116.00 |
147.00 |
31.00 |
2.79 |
Note: Bedrock-hosted intervals reported above
are >0.3 g/t gold, with a maximum of 5 m internal waste.
Intervals reported are core lengths. True width is estimated to be
between 85% and 90% of core length.
A follow-up program of 5000 metres of diamond
drilling is currently underway at Toega, with additional assay
results pending. More drill results will be released as they become
available.
Toega Development Study
Based on the positive results to date, B2Gold is
undertaking initial mineral resource modeling. Once mineral
resource estimates are available, in-house evaluations will
commence to determine whether Toega constitutes a potential source
of higher-grade feed for the Kiaka deposit or potentially a
standalone project. Metallurgical, environmental and social
baseline studies were initiated at Toega in 2016, and these
programs are planned to continue throughout 2017. The 2017
development budget for Toega is $0.84 million.
Kiaka Project
About Kiaka:
The Kiaka project is located in southcentral
Burkina Faso, approximately 140 kilometres southeast of the capital
Ouagadougou. Kiaka is one of the largest undeveloped gold resources
in West Africa, and contains measured mineral resource estimates of
27.3 million tonnes at 1.09 g/t gold for 953,000 ounces; indicated
mineral resource estimates of 96.8 million tonnes at 0.96 g/t gold
for 2.99 million ounces; and inferred mineral resource estimates of
27.3 million tonnes at 0.93 g/t for 815,000 ounces1.
Further engineering studies were completed in
2016 to assess the optimum throughput rate for the Kiaka project
and upgrading projected capital and operating costs.
The current plan is to update the
mineral-resource block model later this year based on ongoing
drilling and then use that model as the basis for additional
project evaluation. This will include re-evaluating project
economics and the potential impact of higher-grade ore being added
from the Toega zone. The 2017 development budget for Kiaka is
approximately $2.7 million.
Mali
Kiwi Zone, Fekola Regional
Program
B2Gold’s technical team believes that the large
Fekola project has the potential to host additional large
Fekola-style gold deposits. The Company’s work to date has
identified multiple targets. The Kiwi zone adjoins mineralization
currently contained within the proposed pit limits of the Fekola
deposit. Extending north from the pit for approximately 640 metres,
Kiwi hosts near-surface gold mineralization, which has recently
been infilled with an additional 18 reverse circulation drill
holes, totalling approximately 2400 metres. Assay results are
pending. This near-surface exploration, combined with the planned
follow up of FKD_188 at depth (4.60 m at 11.80 g/t gold from 240.10
metres - refer to B2Gold news release dated June 29, 2016), is part
of an initiative to advance near-term exploration targets that are
proximal to existing and planned Fekola mine infrastructure, with
the goal of increasing the Fekola mine life.
Anaconda/Adder Zones, Fekola Regional
Program
Within the Fekola region, exploration has
defined a significant zone of saprolite-hosted gold mineralization
across two contiguous target areas known as Anaconda and Adder. At
present, the footprint of the combined Anaconda-Adder saprolite
zone extends over 4.5 kilometres of strike and up to 500 metres
wide at Anaconda and up to 200 metres wide at Adder. Within these
zones, saprolite occurs in flat-lying horizons varying from several
metres to over 40 metres thick. Mineralized intervals within the
saprolite are variable in thickness, but across both zones average
approximately 13.5 metres in true width. In 2016, 72,671 metres of
combined aircore, reverse circulation and diamond drilling were
completed. At both Anaconda and Adder, drilling has been completed
on 40 metre x 40 metre spaced centres and locally, infilled by
reverse circulation and/or diamond holes at either 20 metre x 20
metre, or 5 metre x 5 metre centres to test the short range
variability of mineralization. A program of select aircore hole
twinning by PQ diameter diamond core was completed in late
2016/early 2017. The initial results of the twin diamond drilling
program favourably confirm the results of previous aircore
drilling.
Highlights from recent reverse circulation and
diamond drilling infill drilling include:
Hole ID |
From (m) |
To (m) |
Length (m) |
Gold (g/t) |
MSR_101 |
0 |
60 |
60 |
3.23 |
MSR_103 |
2 |
48 |
46 |
1.75 |
MSR_144 |
1 |
45 |
44 |
1.81 |
MSR_145 |
3 |
44 |
41 |
1.97 |
MSR_146 |
2 |
43 |
41 |
2.16 |
MSR_147 |
24 |
48 |
24 |
2.63 |
MSR_148 |
17 |
34 |
17 |
2.37 |
MSR_150 |
0 |
38 |
38 |
3.72 |
MSR_151 |
1 |
41 |
40 |
1.49 |
MSR_153 |
0 |
24 |
24 |
3.17 |
MSR_155 |
0 |
49 |
49 |
1.20 |
MSR_156 |
5 |
43 |
38 |
1.59 |
MSR_157 |
7 |
36 |
29 |
1.33 |
MSR_162 |
4 |
41 |
37 |
3.44 |
MSR_171 |
0 |
33 |
33 |
1.79 |
MSR_175 |
12 |
27 |
15 |
2.46 |
MSR_178 |
1 |
56 |
55 |
1.71 |
MSR_179 |
3 |
41 |
38 |
1.59 |
MSR_183 |
5 |
50 |
45 |
1.29 |
MSR_203 |
16 |
30 |
14 |
3.19 |
MSD_043 |
13.50 |
38.70 |
25.20 |
5.52 |
MSD_047 |
3.60 |
43.10 |
39.50 |
1.30 |
MSD_054 |
0.00 |
49.00 |
49.00 |
2.75 |
Note: Saprolite-hosted intervals reported above
are >0.2 g/t gold, with a maximum of 3 m internal waste. Assays
are uncapped. Intervals reported are core lengths and may locally
include minor amounts of gold-bearing laterite from the regolith
profile.
Saprolite Development Study
The Anaconda zone has the potential to be a
low-cost operation due to shared infrastructure and services from
the nearby Fekola mine; soft “free digging” ore, requiring no
drilling and blasting; an unusually low strip ratio; and very low
milling requirements, due to the large percentage of fines in the
highly-weathered material. Preliminary in-house estimates indicate
that Anaconda could potentially produce between 80,000 and 100,000
ounces per year, for several years.
A conceptual engineering study is underway for
Anaconda. Fekola capital and operating cost information is being
used as a basis for the cost estimates. A base case of four million
tonnes per year will be developed, and then larger and smaller
cases will be factored depending on the estimated mineral resource.
Metallurgical test programs have been completed and will form the
basis of the design criteria for the processing plant.
Environmental and social baseline studies are underway and will
continue throughout 2017. The development budget for Anaconda is
approximately $2.2 million for 2017.
Bedrock-hosted
Mineralization
At Anaconda and Adder, exploration for
Fekola-type gold-bearing structures in the underlying bedrock is
ongoing. The 2016 exploration program has potentially identified
several of the bedrock structures that have weathered to create the
extensive zone of saprolite-hosted gold mineralization at Anaconda
and Adder. Drilling has intersected intervals of sulphide-related
gold mineralization up to 22 metres in length in the bedrock
underlying both the Adder and Anaconda target areas. The full
extent of these mineralized structures is currently unknown and is
subject to follow-up drilling that is ongoing.
Highlights from the 2016 Anaconda/Adder bedrock
drilling program include:
Hole ID |
From (m) |
To (m) |
Length (m) |
Gold (g/t) |
MSR_132 |
42.00 |
63.00 |
21.00 |
6.84 |
and |
142.00 |
164.00 |
22.00 |
1.19 |
MSD_007 |
16.00 |
35.80 |
19.80 |
1.65 |
Incl. |
28.70 |
35.80 |
7.10 |
3.65 |
MSD_009 |
105.00 |
118.00 |
13.00 |
1.53 |
MSR_169 |
32.00 |
45.00 |
13.00 |
2.77 |
Incl. |
37.00 |
45.00 |
8.00 |
4.26 |
MSR_171 |
45.00 |
56.00 |
11.00 |
1.56 |
MSR_173 |
27.00 |
42.00 |
15.00 |
4.37 |
MSR_217 |
35.00 |
46.00 |
11.00 |
1.69 |
Note: Bedrock-hosted intervals reported above
are >0.6 g/t gold, with a maximum of 5 m internal waste.
Intervals reported are core lengths.
Approximately one kilometre to the east of
Anaconda and Adder, new mineralization has also been intersected in
the Mamba zone. Previously, saprolite-hosted gold mineralization
was reported for Mamba (refer to B2Gold’s news release dated June
29, 2016), but recent exploration in this area has shown the
potential for significant bedrock-hosted gold mineralization.
Recent highlights include:
Hole ID |
From (m) |
To (m) |
Length (m) |
Gold (g/t) |
MSR_247 |
74.00 |
84.00 |
10.00 |
2.22 |
MSR_239 |
58.00 |
68.00 |
10.00 |
1.76 |
MSD_046 |
149.60 |
155.30 |
5.70 |
2.90 |
and |
243.66 |
253.10 |
9.44 |
4.26 |
Note: Bedrock-hosted intervals reported above
are >0.6 g/t gold, with a maximum of 5 m internal waste.
Intervals reported are core lengths.
B2Gold’s Quality Assurance/Quality
Control
The primary laboratory for the
Fekola regional program is SGS Laboratories in Bamako, Mali,
where samples are prepared and analysed using 50g fire assay with
atomic absorption finish and/or gravimetric finish. Bureau Veritas
in Abidjan, Cote d'Ivoire, is the umpire laboratory.
The primary laboratory for the Kiaka
regional program is ALS Minerals Laboratories
in Ouagadougou, Burkina Faso, where samples are prepared and
analysed using 50g fire assay with atomic absorption finish and/or
gravimetric finish.
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-analysed and/or resubmitted as
needed. All results stated in this announcement have passed
B2Gold's quality assurance and quality control ("QA/QC")
protocols.
Tom Garagan, Senior Vice President
Exploration, is the Qualified Person as
defined under National Instrument 43-101, who has reviewed and
approved the contents of this news release.
About B2Gold
Headquartered in Vancouver, Canada, B2Gold Corp.
is one of the fastest-growing gold producers in the world. Founded
in 2007, today B2Gold has four operating mines, one mine under
construction and numerous exploration projects in various
countries, including Nicaragua, the Philippines, Namibia, Mali and
Burkina Faso. Construction of B2Gold’s Fekola mine in southwest
Mali is on budget, and ahead of schedule and is planning for an
October 1, 2017 production start. As a result, B2Gold is well
positioned to maintain its low-cost structure and growth
profile.
ON BEHALF OF B2GOLD CORP.
“Clive T.
Johnson”
President and Chief Executive
Officer
1 The mineral resource estimate for the
Kiaka project was prepared as of January 8, 2013 by Ben Parsons,
MSc, MAusIMM (CP), principal consultant for SRK Consulting (UK)
Limited, a Qualified Person as defined under NI 43-101. The
estimate reflects the attributable mineral resources based on
B2Gold’s 81% interest in the Kiaka project. Mineral resources are
estimated using best practices as defined by the CIM and reporting
of mineral resources is compliant and in accordance with the
disclosure requirements of NI 43-101. Mineral resources that are
not mineral reserves do not have demonstrated economic viability.
Due to the uncertainty that may be attached to inferred mineral
resources, it cannot be assumed that all or any part of an inferred
mineral resource will be upgraded to an indicated or measured
mineral resource as a result of continued exploration. Mineral
resource numbers have been rounded to reflect the accuracy of the
estimates and numbers may not add due to rounding.
For more information on B2Gold please visit the Company’s website at www.b2gold.com or contact:
Ian MacLean
Vice President, Investor Relations
604-681-8371
imaclean@b2gold.com
Katie Bromley
Manager, Investor Relations & Public Relations
604-681-8371
kbromley@b2gold.com
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