B2Gold’s 2017 Exploration Update: West Africa Positive Exploration Results for B2Gold’s Kiaka and Fekola Projects
News Release
B2Gold’s 2017 Exploration Update: West Africa
Positive Exploration Results for B2Gold’s Kiaka and Fekola Projects
Vancouver, February 13, 2017 – B2Gold Corp. (TSX: BTO, NYSE MKT: BTG, NSX: B2G) (“B2Gold” or the
“Company”) is pleased to announce positive exploration results fo r its Kiaka and Fekola projects in West Africa
(Burkina Faso and Mali, respectively). All dollar figures are in United States dollars unless otherwise indicated.
Following recent successes by the regional exploration pr ograms in Burkina Faso and Mali, B2Gold has budgeted
$19.95 million in 2017 for ongoing explor ation of the Company’s West African projects, an increase of $2.65
million over the 2016 budget.
Recent results from the 2016 programs include:
Burkina Faso
Toega Prospect, Kiaka Regional Program
B2Gold has recently increased the footprint of known mine ralization at the Toega prospect, as part of the Kiaka
deposit regional exploration program in Burkina Faso. In 2016, a total of 19,433 metres of combined reverse
circulation and diamond drilling was completed, to better de fine the limits of this discovery and to explore the
immediate area for additional mineralization. Last year’s drilling expanded the known extents of mineralization at
Toega to over 900 metres long, by up to 425 metres wide, with intersections of variable thickness occurring as
deep as 250 metres below surface. Mineralization remain s open down dip and down plunge at Toega. Drilling is
ongoing. Due to the increased size of the Toega zone, the Company now expects to release the initial mineral
resource for Toega in the third quarter of 2017.
Gold mineralization in the Toega zone is hosted by an easterly-dipping metasedimentary sequence, overprinted by
shallowly northeast plunging folds. Mineralized intervals in excess of 100 metres of core length (e.g. NKRD020,
125 m at 1.66 g/t gold) are localized in a plunging, high-gr ade “keel” to the mineralization, which may be related
to structural thickening by folding. Mi neralized zones are characterized by disseminated pyrite, pyrrhotite, rare
chalcopyrite and locally, by fine visible gold, in association with quartz veining.
Highlights from recent 2016 drilling at Toega zone include:
Hole ID From (m) To (m) Length (m) Gold (g/t)
NKRC088 134.00 153.00 19.00 5.47
NKDD014 94.00 178.00 84.00 3.09
Incl. 133.05 177.00 43.95 4.96
NKRC099 93.00 111.00 18.00 6.56
NKRC101 141.00 160.00 19.00 1.87
NKDD015 220.00 277.10 57.10 1.73
Incl. 220.00 262.00 42.00 2.18
NKDD016 85.00 99.00 14.00 2.26
NKDD017 74.00 205.00 131.00 1.61
Incl. 85.00 97.00 12.00 3.97
and 128.40 178.00 49.60 2.42
NKDD013 99.00 161.00 62.00 1.66
Incl. 143.90 161.00 17.10 3.53
and 185.00 244.00 59.00 2.80
NKRC102 126.00 177.00 51.00 1.90
Incl. 138.00 165.00 27.00 3.02
NKRC105 180.00 201.00 21.00 1.08
and 207.00 217.00 10.00 3.40
NKRD020 60.00 185.00 125.00 1.66
NKDD024 93.80 147.00 53.20 1.89
Incl. 116.00 147.00 31.00 2.79
Note: Bedrock-hosted intervals reported above are >0.3 g/t gold, w ith a maximum of 5 m internal waste. Intervals reported are c ore lengths. True width is
estimated to be between 85% and 90% of core length.
A follow-up program of 5000 metres of diamond drilling is cu rrently underway at Toega, with additional assay
results pending. More drill results will be released as they become available.
Toega Development Study
Based on the positive results to date, B2Gold is unde rtaking initial mineral resource modeling. Once mineral
resource estimates are available, in-house evaluations will commence to determine whether Toega constitutes a
potential source of higher-grade feed for the Kiaka depos it or potentially a standalone project. Metallurgical,
environmental and social baseline studies were initiated at Toega in 2016, and these programs are planned to
continue throughout 2017. The 2017 development budget for Toega is $0.84 million.
Kiaka Project
About Kiaka:
The Kiaka project is located in sout hcentral Burkina Faso, approximately 140 kilometres southeast of the capital
Ouagadougou. Kiaka is one of the largest undeveloped gol d resources in West Africa, and contains measured
mineral resource estimates of 27.3 million tonnes at 1.09 g/t gold for 953,000 ounces; indicated mineral resource
estimates of 96.8 million tonnes at 0.96 g/t gold for 2.99 million ounces; and inferred mineral resource estimates
of 27.3 million tonnes at 0.93 g/t for 815,000 ounces1.
1 The mineral resource estimate for the Kiaka project was prepar ed as of January 8, 2013 by Ben Parsons, MSc, MAusIMM (CP), prin cipal consultant for
SRK Consulting (UK) Limited, a Qualified Person as defined unde r NI 43-101. The estimate reflects the attributable mineral reso urces based on B2Gold’s
81% interest in the Kiaka project. Mineral resources are estimated using best practices as defined by the CIM and reporting of mineral resources is compliant
and in accordance with the disclosure requi rements of NI 43-101. Mineral resources that are not mineral reserves do not have de monstrated economic
viability. Due to the uncertainty that may be attached to inferred mineral resources, it cannot be assumed that all or any part of an inferred mineral resource
will be upgraded to an indicated or meas ured mineral resource as a result of contin ued exploration. Mineral resource numbers ha ve been rounded to reflect
the accuracy of the estimates and numbers may not add due to rounding.
Further engineering studies were completed in 2016 to asse ss the optimum throughput rate for the Kiaka project
and upgrading projected capital and operating costs.
The current plan is to update the mineral-resource bloc k model later this year b ased on ongoing dr illing and then
use that model as the basis for additional project evaluation. This will include re-evaluating project economics and
the potential impact of higher-grade ore being adde d from the Toega zone. The 2017 development budget for
Kiaka is approximately $2.7 million.
Mali
Kiwi Zone, Fekola Regional Program
B2Gold’s technical team believes that the large Fekola project has the potential to host additional large Fekola-
style gold deposits. The Company’s work to date has identified multiple targets. The Kiwi zone adjoins
mineralization currently contained within the proposed p it limits of the Fekola deposit. Extending north from the
pit for approximately 640 metres, Kiwi hosts near-surf ace gold mineralization, which has recently been infilled
with an additional 18 reverse circulation drill holes, totalling approximately 2400 metres. Assay results are
pending. This near-surface exploration, combined with the planned follow up of FKD_188 at depth (4.60 m at
11.80 g/t gold from 240.10 metres - refer to B2Gold news re lease dated June 29, 2016), is part of an initiative to
advance near-term exploration targets that are proximal to existing and planned Fekola mine infrastructure, with
the goal of increasing the Fekola mine life.
Anaconda/Adder Zones, Fekola Regional Program
Within the Fekola region, exploration has defined a significant zone of saprolite-hosted gold mineralization across
two contiguous target areas known as Anaconda and Adder. At present, the footprint of the combined Anaconda-
Adder saprolite zone extends over 4.5 kilometres of strike and up to 500 metres wide at Anaconda and up to 200
metres wide at Adder. Within these z ones, saprolite occurs in flat-lying hor izons varying from several metres to
over 40 metres thick. Mineralized intervals within the sap rolite are variable in thickness, but across both zones
average approximately 13.5 metres in true width. In 2016, 72,671 metres of combined aircore, reverse circulation
and diamond drilling were completed. At both Anaconda and Adder, drilling has been completed on 40 metre x
40 metre spaced centres and locally, inf illed by reverse circulation and/or diamond holes at either 20 metre x 20
metre, or 5 metre x 5 metre centres to test the short range variability of mineralization. A program of select aircore
hole twinning by PQ diameter diamond core was completed in late 2016/early 2017. The initial results of the twin
diamond drilling program favourably confirm the results of previous aircore drilling.
Highlights from recent reverse circulation and diamond drilling infill drilling include:
Hole ID From (m) To (m) Length (m) Gold (g/t)
MSR_101 0 60 60 3.23
MSR_103 2 48 46 1.75
MSR_144 1 45 44 1.81
MSR_145 3 44 41 1.97
MSR_146 2 43 41 2.16
MSR_147 24 48 24 2.63
MSR_148 17 34 17 2.37
MSR_150 0 38 38 3.72
MSR_151 1 41 40 1.49
MSR_153 0 24 24 3.17
MSR_155 0 49 49 1.20
MSR_156 5 43 38 1.59
MSR_157 7 36 29 1.33
MSR_162 4 41 37 3.44
MSR_171 0 33 33 1.79
MSR_175 12 27 15 2.46
MSR_178 1 56 55 1.71
MSR_179 3 41 38 1.59
MSR_183 5 50 45 1.29
MSR_203 16 30 14 3.19
MSD_043 13.50 38.70 25.20 5.52
MSD_047 3.60 43.10 39.50 1.30
MSD_054 0.00 49.00 49.00 2.75
Note: Saprolite-hosted intervals reported above are >0.2 g/t gold, w ith a maximum of 3 m internal waste. Assays are uncapped. I ntervals reported are core
lengths and may locally include minor amounts of gold-bearing laterite from the regolith profile.
Saprolite Development Study
The Anaconda zone has the potential to be a low-cost ope ration due to shared infrastructure and services from the
nearby Fekola mine; soft “free digging ” ore, requiring no drilling and blasting; an unusually low strip ratio; and
very low milling requirements, due to the large percentage of fines in the highly-weathered material. Preliminary
in-house estimates indicate that Anaconda could poten tially produce between 80,0 00 and 100,000 ounces per
year, for several years.
A conceptual engineering study is underway for Anaconda. Fekola capital and operating cost information is being
used as a basis for the cost estimates . A base case of four million tonnes pe r year will be developed, and then
larger and smaller cases will be factored depending on the estimated mineral resource. Metallurgical test programs
have been completed and will form the basis of the d esign criteria for the processing plant. Environmental and
social baseline studies are underway and will continue throughout 2017. The development budget for Anaconda is
approximately $2.2 million for 2017.
Bedrock-hosted Mineralization
At Anaconda and Adder, exploration for Fekola-type gold-bearing structures in the underlying bedrock is
ongoing. The 2016 exploration program has potentially iden tified several of the bedrock structures that have
weathered to create the extensive zone of saprolite-hos ted gold mineralization at Anaconda and Adder. Drilling
has intersected intervals of sulphide-related gold mi neralization up to 22 metres in length in the bedrock
underlying both the Adder and Anaconda target areas. The full extent of these mineralized structures is currently
unknown and is subject to follow-up drilling that is ongoing.
Highlights from the 2016 Anaconda/Adder bedrock drilling program include:
Hole ID From (m) To (m) Length (m) Gold (g/t)
MSR_132 42.00 63.00 21.00 6.84
and 142.00 164.00 22.00 1.19
MSD_007 16.00 35.80 19.80 1.65
Incl. 28.70 35.80 7.10 3.65
MSD_009 105.00 118.00 13.00 1.53
MSR_169 32.00 45.00 13.00 2.77
Incl. 37.00 45.00 8.00 4.26
MSR_171 45.00 56.00 11.00 1.56
MSR_173 27.00 42.00 15.00 4.37
MSR_217 35.00 46.00 11.00 1.69
Note: Bedrock-hosted intervals reported above are >0.6 g/t gold, with a maximum of 5 m internal waste. Intervals reported are core lengths.
Approximately one kilometre to the east of Anaconda and Adder, new mineralization has also been intersected in
the Mamba zone. Previously, saprolite-hosted gold minera lization was reported for Mamba (refer to B2Gold’s
news release dated June 29, 2016), bu t recent exploration in this area ha s shown the potential for significant
bedrock-hosted gold mineralization.
Recent highlights include:
Hole ID From (m) To (m) Length (m) Gold (g/t)
MSR_247 74.00 84.00 10.00 2.22
MSR_239 58.00 68.00 10.00 1.76
MSD_046 149.60 155.30 5.70 2.90
and 243.66 253.10 9.44 4.26
Note: Bedrock-hosted intervals reported above are >0.6 g/t gold, with a maximum of 5 m internal waste. Intervals reported are core lengths.
B2Gold’s Quality Assurance/Quality Control
The primary laboratory for the Fekola regional program is SGS Laboratories in Bamako, Mali, where samples are
prepared and analysed using 50g fire assay with atomic absorption finish and/or gravimetric finish. Bureau
Veritas in Abidjan, Cote d'Ivoire, is the umpire laboratory.
The primary laboratory for the Kiaka regional program is ALS Minerals Laboratories in Ouagadougou, Burkina
Faso, where samples are prepared and analysed using 50g fire assay with atomic absorption finish and/or
gravimetric finish.
Quality assurance and quality control procedures include the systematic insertion of blanks, standards and
duplicates into the core, reverse circulation and aircore dr illing sample strings. The results of the control samples
are evaluated on a regular basis with batches re-analysed a nd/or resubmitted as needed. A ll results stated in this
announcement have passed B2Gold's quality assurance and quality control ("QA/QC") protocols.
Tom Garagan, Senior Vice President Exploration , is the Qualified Person as defined under National
Instrument 43-101, who has reviewed and approved the contents of this news release.
About B2Gold
Headquartered in Vancouver, Canada, B2Gold Corp. is one of the fastest-growing gol d producers in the world.
Founded in 2007, today, B2Gold has four operating mines, one mine under construction and numerous
exploration projects in various countries, including Nicaragua, the Philippines, Namibia, Mali and Burkina Faso.
Construction of B2Gold’s Fekola mine in southwest Mali is on budget, and ah ead of schedule and is planning for
an October 1 2017 production start. As a result, B2Gold is well positioned to maintain its low-cost structure and
growth profile.
ON BEHALF OF B2GOLD CORP.
“Clive T. Johnson”
President and Chief Executive Officer
For more information on B2Gold please visit the Company’s website at www.b2gold.com or contact:
Ian MacLean Katie Bromley
Vice President, Investor Relations Mana ger, Investor Relations & Public Relations
604-681-8371 604-681-8371