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B2Gold Corp.
Summary
| Project: | Fekola | |
|---|---|---|
| Deposit: | Fekola | |
| Location: | Mali | |
| Commodities: | Gold | |
| Date: | 6/29/2016 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Mine Development | |
| Report details: | 29-6-2016: B2Gold Corp. announces an Exploration/Drilling Update report for its Fekola deposit at the Fekola project. Drilling results incl. 26m @ 5.44g/t Au from 14m at the Anaconda zone. Vancouver, June 29, 2016 – B2Gold Corp. (TSX: BTO, NYSE MKT: BTG, | |
| Resources: | (not mentioned in this report) | |
| CP/QP: | [Overall Report]: Tom Garagan (Internal) | |
| ABSTRACT: | Vancouver, June 29, 2016 – B2Gold Corp. (TSX: BTO, NYSE MKT: BTG, NSX: B2G) (“B2Gold” or the “Company”) is pleased to announce an exploration update for its Fekola and Kiaka projects in West Africa (Mali and Burkina Faso, respectively). All dollar figures are in United States dollars unless otherwise indicated. The significance of the highlighted (outlined below) and previous positive drill results (released in January this year) at the Fekola project is that they demonstrate the potential for the area to host additional zones of open-pittable gold mineralization similar to the Fekola deposit, as well as significant zones of saprolite-hosted gold mineralization. In addition, deeper drilling below the Fekola deposit returned positive results that indicate the potential for underground mining in the future. Based on the exploration potential and success to date, the Company is constructing the Fekola mine with a +25% design factor. This means that the throughput of ore at Fekola could reach up to 5 million tonnes per year in the initial years of production, beyond the optimized feasibility study’s1 estimated throughput of 4 million tonnes per year. This increase may only require approximately $15 million to $20 million of additional capital expenditure and could potentially increase annual production by up to 20% (subject to final mine planning), surpassing initial projections of approximately 350,000 ounces of gold per year. | |
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