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B2Gold Announces Positive Exploration Drill Results from Fekola North Extension Zone and Resource Infill Drilling

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B2Gold Announces Positive Exploration Drill Results from Fekola North Extension Zone and Resource Infill Drilling

 

 

 

 

 

B2Gold Corp. (TSX:BTO) (NYSE AMERICAN:BTG) (NSX:B2G) announces positive exploration drill results from the Fekola North Extension Zone extending gold mineralization to one kilometer north of the Fekola Reserve pit boundary and continuing successful resource infill drilling.

 

 

Highlights

 

 

This news release should be read in conjunction with the Fekola and Fekola North Extension schematic long section (see below or on our website with today’s news release at http://www.b2gold.com/news/2018/)

 

  • Recent positive drilling results in the Fekola North Extension significantly increases resource potential of the Fekola Deposit extending mineralization up to one kilometre north of the reserve pit.
  • Good-grade gold mineralization is hosted in shallow, north-plunging shoots, the same structural setting as higher-grade ore shoots in the Fekola Deposit, and remains open to the north.
  • New drill results to the North of the Fekola Resource pit boundary indicate the main higher-grade Fekola ore shoot is thicker and extends closer to surface than previously projected.
  • New good-grade drill results from infill drilling within the resource pit boundary continue to convert inferred resources to indicated category.

 

 

Fekola North Extension Exploration

 

 

A total of approximately 10,000 metres of diamond drilling have now been completed this year in the Fekola North extension.  These drill results, combined with previous results, continue to convert resources to reserves within the resource pit boundary and further expand the Fekola North extension zone mineralization to now at least one km north of the Fekola reserve pit boundary, and approximately 900 metres north of the current resource pit boundary. (see longitudinal section, in the news release, and the B2Gold website (www.b2gold.com).

 

 

These drill results along with previous results confirm the potential for the Fekola deposit to increase in size significantly to the north, and indicate the potential, with further drilling for a larger open-pittable resource and reserve.

 

 

Fekola Resource Conversion
(See longitudinal section)

 

 

Infill drilling is ongoing at Fekola and continues to convert inferred resources to indicated category within the resource pit boundary.  The current resource pit boundary extends beyond the Fekola reserve pit boundary approximately 50 metres below the reserve, 150 metres to the north and approximately 600 metres to the north (formerly Kiwi zone), from surface to 50 metres depth.  The resource pit extension contains 720,000 ounces in the indicated category and 180,000 ounces in the inferred category, for a total potential increase of 900,000 ounces of gold1.

 

 

The recent drilling intercepted higher gold grades, in wider intercepts, than had been projected from previous drill results.

 

1 Please see B2Gold’s Annual Information Form 2018, which is available on SEDAR (www.sedar.com), for further information, including information regarding applicable grade and tonnage.

 

 

Highlights from Fekola Resource infill drilling results:

 

 

                 
Hole ID From (m)   To (m)   Length (m)   Gold (g/t)  
FKD_242 317.30   396.00   78.70   3.20  
FKD_241 308.20   395.00   86.80   3.95  
FKD_239 307.00   374.00   67.00   3.10  
FKD_244 246.00   295.00   49.00   1.39  
FKD_246 240.70   264.00   23.30   1.60  
                 

 

Infill drilling is ongoing.

 

 

Fekola North Extension

 

 

The Fekola North Extension adjoins the Fekola resource pit and extends up to one kilometre north of the Fekola reserve pit.  The structural setting at Fekola North Extension is identical to that hosting the bulk of the high-grade ore in the Fekola Deposit.  Recent drilling beyond the resource pit boundary to the north, along with previous drilling, has confirmed that the higher-grade Fekola mineralized shoot extends further north, in holes such as 248, 245, 250, and 253.  Holes 250 and 253 are approximately 750 metres from the resource pit boundary (see table below). In addition, holes 264, 254, 261, 262 256, 258, 251 and 255 demonstrate the higher-grade shoot extends closer to surface than previously modelled, positively filling a portion of the gap between the higher-grade shoot and the shallow mineralization above, in the resource pit.

 

 

Highlights of Fekola North extension drill results:

 

                 
 

Hole ID

From (m)   To (m)   Length (m)   Gold (g/t)  
FKD_238 328.00   390.40   62.40   2.66  
FKD_243 260.00   331.40   71.40   1.40  
FKD_245 344.00   394.40   50.40   2.41  
FKD_248 392.00   433.00   41.00   2.71  
FKD_250 528.00   554.00   26.00   1.18  
FKD_251 412.00   477.00   35.00   1.95  
FKD_253 486.20   517.00   30.80   4.10  
FKD_254 270.00   319.10   49.10   2.59  
FKD_255 397.30   445.77   48.47   1.23  
FKD_256 285.00   319.00   34.00   2.01  
FKD_258 304.00   339.20   35.20   2.06  
FKD_261 265.70   278.00   12.30   2.23  
FKD_262 302.00   342.00   43.00   2.29  
FKD_264 293.00   340.30   47.30   2.63  
                 

 

 

Fekola and Fekola North Extension Schematic Long Section Map

 

To view an enhanced version of this map, please visit: 
https://orders.newsfilecorp.com/files/3906/34100_a1524045554031_40.jpg

 

 

Drilling continues, and will be ongoing through the rest of 2018, to further define the Fekola North extension and further infill drill the Fekola resource.  The Company will continue to release material drill results, as they become available and expects to release an updated Fekola mineral resource in the third quarter of 2018.

 

 

In addition to Fekola, the 2018 Mali exploration budget includes $7.5 million for further drilling on the Anaconda zones, in the Fekola region.  The drill program is well underway and is returning positive additional results from the near-surface saprolite zones and the good gold grade bedrock zones, beneath the saprolite.  Further results will be released later in the year.

 

 

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 50g 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 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.

 

 

About B2Gold

 

 

Headquartered in Vancouver, Canada, B2Gold Corp. is the world’s new senior gold producer. Founded in 2007, today, B2Gold has five operating gold mines and numerous exploration and development projects in various countries including Nicaragua, the Philippines, Namibia, Mali, Burkina Faso, Colombia and Finland. With the large, low-cost Fekola Mine now in production, B2Gold is well positioned in achieving transformational growth in 2018. In 2018, with the planned first full year of production from the Fekola Mine, consolidated gold production is forecast to be between 910,000 and 950,000 ounces. This represents an increase in annual consolidated gold production of approximately 300,000 ounces for the Company in 2018 versus 2017.

 

Posted April 18, 2018

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