B2Gold(BTG) Newsfilter·2024-06-20 11:30Company Overview - B2Gold is a low-cost international senior gold producer headquartered in Vancouver, Canada, with operating gold mines in Mali, Namibia, and the Philippines, and development projects in Canada, Colombia, and Finland [26] Antelope Deposit Discovery and Development - The Antelope deposit, discovered in 2022, consists of the Springbok Zone, Oryx Zone, and a potential third structure, Impala, with over 36,000 meters drilled into the Springbok Zone to date [2] - The initial Inferred Mineral Resource Estimate for the Springbok Zone is 1.75 million tonnes grading 6.91 g/t gold, totaling 390,000 ounces, meeting the threshold for PEA-level studies [2][3] - Ongoing exploration drilling on the Oryx Zone has returned high-grade intervals, indicating potential to increase the Mineral Resource estimate [2] - Subject to a positive PEA study and permit, mining of the Springbok Zone could contribute to gold production at Otjikoto by 2026, potentially supplementing low-grade stockpile processing through 2031 [2] Exploration and Drilling Program - The 2024 exploration budget for Namibia is $9 million, funding the largest drill program at the Otjikoto Mine since 2012, with 39,000 meters of drilling planned and five rigs currently active [12] - Drilling at the Springbok Zone has intersected high-grade intervals, such as 21.64 g/t gold over 5.88 meters and 13.68 g/t gold over 6.10 meters, indicating mineralization remains open-ended to the southeast [15][20] - The Antelope deposit mineralization has been intersected over a combined strike length of approximately 1,500 meters, with over two kilometers of prospective stratigraphy remaining untested [13] Resource Model and Methodology - The Springbok Zone Mineral Resource model was prepared in-house, with 60 diamond drillholes (32,249 meters) completed in support of the June 2024 estimate [5] - High-grade and low-grade mineralization domains were modeled in three dimensions, with gold grades estimated using Inverse Distance Cubed interpolation [9][10] - The average density is 3.11 t/m3 in the low-grade domain and 3.37 t/m3 in the high-grade domain, based on 4,382 bulk density measurements [6] Future Potential and Strategic Implications - The Springbok Zone's initial Inferred Mineral Resource is a significant milestone, with mineralization characterized by quartz-pyrrhotite-magnetite veins and visible gold, overprinted by deformation along marble beds [14] - The deposit's high-grade gold mineralization exhibits continuity along a shoot-like geometry, suggesting potential for underground mining similar to the Wolfshag deposit [15] - The Antelope deposit's development could enhance B2Gold's production profile, with the potential to increase gold production levels to over 100,000 ounces per year from 2026 through 2031 [2]