The updated Mineral Resource estimate includes a significant increase in the laterite, saprolite and saprock (collectively “oxide”) Mineral Resources, and an initial sulphide Indicated Mineral Resource estimate.
Anaconda Area Exploration Drilling Program. (Credit: B2Gold)
B2Gold Corp. (TSX: BTO, NYSE AMERICAN: BTG, NSX: B2G) (“B2Gold” or the “Company”) is pleased to announce an updated and significantly increased Mineral Resource estimate for the Anaconda Area (the “June 2023 Mineral Resource estimate”), comprised of the Menankoto permit, the Bantako North permit, and the Bakolobi permit, located approximately 20 kilometers (“km”) from the Fekola Mine. The updated Mineral Resource estimate includes a significant increase in the laterite, saprolite and saprock (collectively “oxide”) Mineral Resources, and an initial sulphide Indicated Mineral Resource estimate.
Indicated Resources of 2,030,000 gold ounces, an 80% increase from the March 2022 Mineral Resource estimate: June 2023 Mineral Resource estimate, constrained within an optimized pit shell at a gold price of US$1,800 per ounce, includes Indicated Mineral Resources of 57,100,000 tonnes at 1.11 grams per tonne (“g/t”) gold for a total of 2,030,000 ounces of gold.
Inferred Resources of 2,000,000 gold ounces: June 2023 Mineral Resource estimate, constrained within an optimized pit shell at a gold price of US$1,800 per ounce, includes Inferred Mineral Resources of 46,600,000 tonnes at 1.33 g/t gold for a total of 2,000,000 ounces of gold.
Anaconda Area Oxide Mineral Resources and the Dandoko Oxide Mineral Resources will form the basis of the engineering study of a Fekola Regional stand-alone mill and oxide processing facilities: Construction of a stand-alone oxide mill would constitute Phase II of the Fekola Regional Development Plan. The engineering study will be based on processing 4 million tonnes per annum (“Mtpa”) of oxide resources. The Company’s optimization study analysis indicates that the combined Fekola Mine and Fekola Regional processing facilities could have the potential to produce more than 800,000 ounces of gold per year from the Fekola Complex, subject to delineation of additional mineral resources and development, completion of feasibility studies, and the receipt of all necessary regulatory approvals and permits.
Improvement in Anaconda Area Sulphide Mineral Resources total tonnes and grade: Inaugural sulphide Indicated Mineral Resource estimate of 17,400,000 tonnes at 1.40 g/t gold for a total of 780,000 ounces of gold. Sulphide Inferred Mineral Resource estimate of 37,100,000 tonnes at 1.44 g/t gold for a total of 1,720,000 ounces of gold. Sulphide Inferred gold grade improved by 15% from the March 2022 Mineral Resource estimate.
Continuity of Anaconda Area Oxide Mineral Resources remains strong at higher cut-off grades: To highlight the potential for mining and trucking of higher-grade oxide ore from the Anaconda Area to the Fekola mill before potential completion of the Fekola Regional stand-alone mill and oxide processing facilities, the oxide Indicated Mineral Resource estimate at a 0.6 g/t gold cut-off grade is 23,500,000 tonnes at 1.37 g/t gold for a total of 1,040,000 ounces of gold. Oxide Mineral Resources at Anaconda Area and Dandoko are anticipated to be mined and processed at a lower per tonne unit cost relative to Fekola sulphide ore due to being located closer to surface (lower strip ratio), and cheaper mining and milling costs. Additionally, there is significant synergies between the Fekola Mine and the Fekola Regional deposits due to the sharing of existing infrastructure at Fekola.
Ongoing exploration drilling at Mamba, Cobra and Taipan continues to intersect high grade-width intervals of oxide and sulphide mineralization that remain open to further exploration success: Since the cut-off date for assays for the June 2023 Mineral Resource estimate, the Company has continued to expand both oxide and sulphide deposits at the Anaconda Area.
Source: Company Press Release