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B2Gold Corp.
Summary
| Project: | El Limon | |
|---|---|---|
| Deposit: | El Limon | |
| Location: | Nicaragua | |
| Commodities: | Gold | |
| Date: | 10/23/2018 | |
| Report Code: | NI43-101 | |
| Report Type: | Feasibility Study | |
| Project Stage: | Active Mining & Production | |
| Report details: | 23-10-2018: B2Gold Corp. announces a Feasibility Study report for its El Limon deposit at the El Limon project. Expansion study results incl. post-tax NPV of US $135M (5%), IRR of 28%. Vancouver, October 22, 2018 – B2Gold Corp. (TSX: BTO, NYSE AMERICAN: B | |
| Resources: | (Resource, Inf.): 5.13Mt @ 4.92g/t Au at El Limon Central zone | |
| CP/QP: | [Overall Report]: Tom Garagan, Dale Craig (Internal) | |
| ABSTRACT: | Vancouver, October 22, 2018 – B2Gold Corp. (TSX: BTO, NYSE AMERICAN: BTG, NSX: B2G) ("B2Gold" or the "Company") is pleased to announce positive results of an expansion study for El Limon Mine located in Nicaragua and that the Company has signed a renewed two-year Collective Agreement with the labour unions. The expansion study was conducted to evaluate the life-of-mine ("LoM") options for combining the remaining underground Inferred Mineral Resources with the new El Limon Central zone open-pit Inferred Mineral Resource. The results of this study recommend the expansion of the existing plant from 485,000 tonnes per annum ("tpa") to 600,000 tpa and addition of a third stage of milling to achieve a fine grind. The result would be a much longer mine life with significantly higher gold production and lower cash operating costs (see nonIFRS Measures) and all-in sustaining costs ("AISC") (see non-IFRS Measures). The third stage of milling also allows for the reprocessing of old tailings at the end of the mine life. All dollar figures are in United States dollars unless otherwise indicated. El Limon expansion study was evaluated at throughput rates ranging from 500,000 tpa to 1,100,000 tpa. Metallurgical test results indicate that the existing plant could be expanded to a production level of 600,000 tpa by upgrading the crushing system, adding a pebble crusher, adding a new thickener, and upgrading the cyclones and leach circuit. Expansion to 1,100,000 tpa would require an upgrade of the existing plant as well as the construction of a new 500,000 tpa plant. Metallurgical testing was also completed to evaluate the optimum grind size for both El Limon Central ore and the Santa Pancha underground ore sources. Results indicate that there would be a significant improvement in recovery for El Limon Central pit ore and also an improvement for the Santa Pancha recoveries at finer grind sizes (80% passing 30 microns). The finer grind would be achieved by adding a third stage of grinding to the milling circuit. The fine grind capability would also allow for the retreatment of old tailings at the end of the mine life with only minor plant modifications. High-level production scenarios, capital cost estimates and operating cost estimates were developed for various cases ranging from 500,000 tpa to 1,100,000 tpa with both coarse and fine grinding. | |
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