B2Gold Announces Drilling Results from its 2024 Exploration Program at the Goose Project; Drill Results at the Nuvuyak Deposit and Mammoth Target Demonstrate Potential to Further Extend the Mine Life at the Goose Project
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B2Gold Announces Drilling Results from its 2024 Exploration Program at the Goose Project; Drill
Results at the Nuvuyak Deposit and Mammoth Target Demonstrate Potential to Further Extend
the Mine Life at the Goose Project
Vancouver, BC, November 13, 2024 – B2Gold Corp. (TSX: BTO, NYSE AMERICAN: BTG, NSX: B2G)
(“B2Gold” or the “Company”) is pleased to announce positive exploration drilling results from its 2024
drilling campaign at the Goose Project, part of the Back River Gold District in Nunavut, Canada. All dollar
figures are in United States dollars unless otherwise indicated.
For 2024, B2Gold approved a $28 million exploration budget to complete approximately 25,000 m eters
(“m”) of drilling on the Back River Gold District, including confirmation drilling at the Umwelt deposit, as
well as exploration drilling at several Goose Project regional targets that were developed based on structural
modelling and geophysical re-processing.
As of November 7, 2024, B2Gold had completed 25,126 m of drilling over 68 drill holes at the Goose
Project, including 14,480 m over 40 drill holes at the Umwelt deposit, 3,899 m over 14 drill holes at the
Llama deposit area, 6,610 m over 13 exploration target drill holes, and 137 m over one metallurgical hole
at the Goose Main deposit. Significant drill hole locations from 2024 are shown on the map in Figure 1.
Goose Project Drill Results Highlights
• Exploration drilling intersected high-grade mineralization 1,000 m west and down plunge of
the Goose Main deposit at the Goose Project’s Nuvuyak deposit
o Drill hole 24GSE-683Z1 returned 6.39 grams per tonne (“g/t”) gold over 28.80 m from
982.20 m, including a higher-grade interval of 23.49 g/t gold over 6.45 m and 4.66 g/t gold
over 20.94 m from 1,037.16 m, including 8.60 g/t gold over 9.62 m; and
o This result demonstrates the continuity of high-grade zones within the Nuvuyak deposit by
extending high-grade gold mineralization approximately 150 m to the north-northwest.
• Exploration drilling also intersected high-grade mineralization at the Mammoth target 450
m up plunge of the Nuvuyak deposit towards the Goose Main deposit
o Mammoth drill hole 24GSE-687Z1 returned 17.45 g/t gold over 10.96 m from 837.14 m,
including a higher-grade interval of 68.61 g/t gold over 2.51 m;
o Mammoth drilling tested down plunge of the fold between the Nuvuyak deposit and the Hook
target; and
o This result demonstrates that the Nuvuyak and Mammoth zones have strong potential for
future underground mining.
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• The Nuvuyak deposit and Mammoth target are not included in the existing Goose Project
mine plan; these exploration results demonstrate potential to further increase Mineral
Resources and extend the mine life at the Goose Project
• Drill results for infill and mine development at the Goose Project’s Umwelt deposit confirm
the continuity of high-grade gold mineralization, with several drill holes returning intercepts
with higher gold grades and widths than predicted by the existing mineral resource model
o Drill hole 24GSE-671 returned 27.28 g/t gold over 11.10 m from 457.80 m;
o Drill hole 24GSE-675 returned 19.63 g/t gold over 15.95 m from 389.85 m;
o Drill hole 24GSE-677Z3 returned 9.27 g/t gold over 13.58 m from 664.25 m;
o Drill hole 24GSE-681 returned 11.18 g/t gold over 15.50 m from 779.45 m;
o Drill hole 24GSE-684B returned 29.49 g/t gold over 22.79 m from 332.25 m; and
o Drill hole 24GSE-685 returned 10.51 g/t gold over 21.45 m from 306.00 m.
• Exploration drilling intersected high-grade gold mineralization 530 m down plunge from the
estimated open pit boundary at the Goose Project’s Llama deposit
o Drill hole 24GSE-663 returned 14.34 g/t gold over 27.95 m from 406.05 m, including a higher-
grade interval of 54.17 g/t gold over 6.00 m and 205.00 g/t gold over 0.80 m, at a vertical depth
of 370 m, which tested an area of limited drilling 530 m down plunge from the Llama open
pit; and
o This result demonstrates the down plunge continuity of gold grades and widths of these
mineralized structures, and the Llama deposit remains open at depth.
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Figure 1. Goose Project Drill Hole Locations.
Goose Project Exploration
The Goose Project consists of five known deposits with existing mineral resources, Umwelt, Llama, Goose,
Echo and Nuvuyak, which occur along a strike length of eight kilometers (“km”). The Company believes
that exploration upside exists on all known deposits that are open at depth, as well as several zones of
interest that remain relatively untested within the footprint of the favorable host banded iron formation
(“BIF”) stratigraphy. At Goose, the BIF extends over 10 km in a folded package up to 1.5 km wide hosted
within a northwesterly to westerly striking, steeply -dipping be lt of folded, clastic sediments . Ongoing
structural and data review has formed the basis of the 2024 exploration season that has drill tested several
zones of interest.
The Umwelt deposit is the single largest deposit at the Goose Project and will be a significant contributor
to initial production. At the Umwelt deposit, 2024 drilling finished with 14,480 m completed over 40 drill
holes with gold assays received for 34 of the 40 drill holes. Implementation of directional core drilling
technology (Devico) has added accuracy and cost efficiency to the program of deep and strategic drilling.
Drilling was designed to increase confidence in the geometry and continuity of high -grade mineralization
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below the planned open pits. Drilling has shown the intersection of steeply dipping brittle-ductile high strain
zones and fold-thickened BIF is the primary control on gold mineralization.
Significant 2024 drill results from the Umwelt deposit at the Goose Project include:
Hole ID From (m) To (m) Length (m) Au (g/t) Au (g/t)
Capped1
24GSE671 457.80 468.90 11.10 27.28 21.14
Incl 464.20 468.30 4.10 50.97 34.36
Incl 465.00 466.00 1.00 112.00 50.00
and 478.85 506.95 28.10 4.45 4.28
Incl 490.35 496.10 5.75 14.33 13.50
24GSE673Z1 925.00 939.20 14.20 7.32 7.11
Incl 936.25 939.20 2.95 23.57 22.57
24GSE675 389.85 405.80 15.95 19.63 16.65
Incl 390.80 396.71 5.91 32.76 N/A
Incl 401.34 404.84 3.50 26.25 26.25
24GSE677Z3 664.25 677.83 13.58 9.27 7.79
Incl 667.45 669.70 2.25 42.72 33.79
24GSE680Z1 889.93 911.37 21.44 7.58 6.96
Incl 893.15 897.35 4.20 22.94 19.78
Incl 905.90 910.70 4.80 9.40 9.40
24GSE681 779.45 794.95 15.50 11.18 10.62
Incl 779.45 780.15 0.70 26.10 26.10
Incl 790.05 792.80 2.75 33.36 30.22
24GSE684B 332.25 355.04 22.79 29.49 13.68
Incl 332.25 333.50 0.70 301.00 50.00
Incl 343.35 346.65 3.30 83.86 40.62
Incl 352.00 355.04 3.04 45.67 31.88
24GSE685 306.00 327.45 21.45 10.51 6.00
Incl 319.80 325.30 5.50 34.22 16.66
Incl 323.25 325.30 0.70 188.00 50.00
24GSE685Z1 310.90 328.05 17.15 9.49 9.49
Incl 319.95 324.70 4.75 27.24 27.24
Notes:
1. Capped at 50 g/t gold
2. Drill intercepts are perpendicular to the zones so true widths are very similar to reported drill lengths
At the Llama deposit, which outcrops 1,500 m north of the Umwelt deposit, a total of 1,428 m was drilled
over seven drill holes (including three abandoned holes) in areas within the Inferred Mineral Resource
boundary below the open pit. Drill hole 24GSE-668B returned 19.65 g/t gold over 8.20 m from 158.75 m,
including a higher-grade interval of 37.13 g/t gold over 4.00 m.
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In addition, a total of 2,471 m over seven drill holes (with two currently in progress) are testing areas down
plunge from the planned Llama open pit. Drill hole 24GSE-663, which tested an area of limited drilling 530
m down plunge from the planned Llama open pit, returned 14.34 g/t gold over 27.95 m from 406.05 m at a
vertical depth of 370 m, including higher-grade intervals of 54.17 g/t gold over 6.00 m and 205.00 g/t gold
over 0.80 m. The drill result demonstrates the down plunge continuity of gold grades and widths of these
mineralized structures, and the Llama deposit continues to remain open at depth. In addition, two drill holes
totaling 1,241 m were completed 1,440 m down dip from Llama in the Llama Extension area, with assays
pending. One more drill hole will be completed in 2024 at the Llama Extension area.
Significant 2024 drill results from the Llama deposit at the Goose Project include:
Hole ID From (m) To (m) Length (m) Au (g/t) Au (g/t)
Capped1
24GSE663 406.05 434.00 27.95 14.34 9.91
Incl 426.50 432.50 6.00 54.17 33.50
Incl 429.35 430.15 0.80 205.00 50.00
24GSE668B 158.75 166.95 8.20 19.65 13.50
Incl 160.75 164.75 4.00 37.13 24.53
Incl 163.00 163.80 0.80 113.00 50.00
Notes:
1. Capped at 50 g/t gold
2. Drill intercepts are perpendicular to the zones so true widths are very similar to reported drill lengths
Goose Project Exploration Drilling
A total of 6,610 m over 13 drill holes have been drilled at Goose Project exploration targets including
Nuvuyak, Mammoth, Stovepipe, Muskox, Wing, Boomerang, Goose Neck South , Hook and Slingshot.
Drilling is ongoing at the Mammoth and Hook targets. Results have been received for Nuvuyak, Mammoth
and Wing, and are pending for the other targets.
Highlights to date include encouraging results at Nuvuyak and Mammoth. Nuvuyak drill hole 24GSE-
683Z1 returned 6.39 g/t gold over 28.80 m from 982.20 m, including a higher -grade interval of 23.49 g/t
gold over 6.45 m and 4.66 g/t gold over 20.94 m from 1,037.16 m, including 8.60 g/t gold over 9.62 m.
Nuvuyak is located approximately 500 m west and 1,000 m down plunge of the Goose Main deposit and
demonstrates the continuity of high-grade zones within the Nuvuyak deposit by extending high-grade gold
mineralization approximately 150 m to the north-northwest. The existing Inferred Mineral Resource
estimate at Nuvuyak is 2.42 million tonnes grading 7.50 g/t gold for a total of 583,000 ounces of gold.
Mammoth drill hole 24GSE-687Z1 returned 17.45 g/t gold over 10.96 m from 837.14 m, including a higher-
grade interval of 68.61 g/t gold over 2.51 m. This encouraging intercept, located 450 m up plunge of
Nuvuyak towards the Goose Main deposit, shows the Nuvuyak and Mammoth zones have strong potential
for future underground mining.
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Significant 2024 drill results from the Goose Project exploration drilling include:
Hole ID Area From (m) To (m) Length (m) Au (g/t) Au (g/t)
Capped1
24GSE683Z1 Nuvuyak 982.20 1,011.00 28.80 6.39 6.17
Incl Nuvuyak 1,004.55 1,011.00 6.45 23.49 22.49
and Nuvuyak 1,037.16 1,058.10 20.94 4.66 4.66
Incl Nuvuyak 1,037.16 1,046.78 9.62 8.60 8.60
24GSE687Z1 Mammoth 820.40 823.45 3.05 8.32 8.32
and Mammoth 837.14 848.10 10.96 17.45 8.57
Incl Mammoth 837.65 840.16 2.51 68.61 29.83
Notes:
1. Capped at 50 g/t gold
Back River Gold District 2024 Surface Exploration Program
During 2024 , regional target definition was supplemented through an integrated surface exploration
program comprising of mapping, prospecting, geophysics and the collection of 1, 798 till sample s, 35
trenches (216 samples) and 285 rock samples in six properties including Boot, Boulder, Del, BB13, Needle
and Beech. See Figure 2 for an overview of the Back River Gold District properties.
Figure 2. Back River Gold District Properties.
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Geophysics consisted of ground Induced Polarization (3D-IP) in Boot and Boulder and heli-magnetics in
BB13, Needle and Beech as well as re-processing of old geophysical data. In addition, a BHTEM (borehole
transient electromagnetics) survey was completed over 3,800 m across five drill holes including three at the
Umwelt deposit and one each at Nuvuyak and Mammoth. Results are being processed.
This work has generated new regional and near-mine targets that will be further evaluated and drill tested
in 2025.
Quality Assurance/Quality Control on Sample Collection and Assaying
The primary laboratory utilized for the Back River Gold District drilling program in 2024 is ALS laboratory
in North Vancouver, Canada. Core samples are prepared at the ALS preparation facility in Yellowknife with
representative pulp samples sent to the ALS North Vancouver laboratory for gold analysis. Gold is analyzed
by a fire assay/atomic absorption spectrometry (FA/AAS) finish using a 50 gram subsample of the coin
pulp. FAs were finished with AAS, and samples with higher grades that exceeded the maximum detection
limit of AAS received a supplemental gravimetric (“GRAV”) finish. All samples over 3,000 parts per billion
are analyzed by FA/GRAV using a 50 gram subsample of the coin pulp. Bureau Veritas Minerals (BV) in
Vancouver, Canada, is the umpire laboratory.
Quality assurance and quality control procedures include the systematic insertion of blanks and standards
into the core sample strings. The results of the control samples are evaluated on a regular basis with batches
re-analyzed and/or resubmitted as needed. All results stated in this announcement have passed B2Gold’s
quality assurance and quality control protocols.
About B2Gold
B2Gold is a low-cost international senior gold producer headquartered in Vancouver, Canada. Founded in
2007, today, B2Gold has operating gold mines in Mali, Namibia and the Philippines, the Goose Project
under construction in northern Canada and numerous d evelopment and exploration projects in various
countries including Mali, Colombia and Finland. B2Gold forecasts total consolidated gold production of
between 800,000 and 870,000 ounces in 2024.
Qualified Persons
Andrew Brown, P.Geo., Vice President, Exploration, a qualified person under NI 43-101, has approved the
scientific and technical information related to exploration and mineral resource matters contained in this
news release.
ON BEHALF OF B2GOLD CORP.
“Clive T. Johnson”
President and Chief Executive Officer
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For more information on B2Gold please visit the Company website at www.b2gold.com or contact:
Michael McDonald Cherry DeGeer
VP, Investor Relations & Corporate Development Director, Corporate Communications
+1 604-681-8371 +1 604-681-8371
[email protected] [email protected]
Source: B2Gold Corp.
The Toronto Stock Exchange and NYSE American LLC neither approve nor disapprove the information contained in
this news release.
Production results and production guidance presented in this news release reflect total production at the mines
B2Gold operates on a 100% project basis. Please see our Annual Information Form dated March 14, 2024 for a
discussion of our ownership interest in the mines B2Gold operates.
This news release includes certain "forward -looking information" and "forward -looking statements" (collectively
forward-looking statements") within the meaning of applicable Canadian and United States securities legislation,
including: projections; outlook; guidance; forecasts; estimates; and other statements regarding future or estimated
financial and operational performance, gold production and sales, revenues and cash flows, and capital costs
(sustaining and non-sustaining) and operating costs, including projected cash operating costs and AISC, and budgets
on a consolidated and mine by mine basis; future or estimated mine life, metal price assumptions, ore grades or
sources, gold recovery rates, strip ping ratios, throughput, ore processing; statements regarding anticipated
exploration, drilling, development, construction, permitting and other activities or achievements of B2Gold; and
including, without limitation: remaining well positioned for continue d strong operational and financial performance
in 2024; projected gold production, cash operating costs and AISC on a consolidated and mine by mine basis in 2024;
total consolidated gold production of between 800,000 and 870,000 ounces (including 20,000 at tributable ounces
from Calibre) in 2024, with cash operating costs of between $835 and $895 per ounce and AISC of between $1,420
and $1,480 per ounce; B2Gold's continued prioritization of developing the Goose Project in a manner that recognizes
Indigenous input and concerns and brings long -term socio -economic benefits to the area; the Goose Project
producing in excess of 310,000 ounces of gold per year from 2026 to 2030; and the potential for first gold production
in the second quarter of 2025 from the Goos e Project. All statements in this news release that address events or
developments that we expect to occur in the future are forward -looking statements. Forward-looking statements are
statements that are not historical facts and are generally, although not always, identified by words such as "expect",
"plan", "anticipate", "project", "target", "potential", "schedule", "forecast", "budget", "estimate", "intend" or
"believe" and similar expressions or their negative connotations, or that events or conditions "will", "would", "may",
"could", "should" or "might" occur. All such forward -looking statements are based on the opinions and estimates of
management as of the date such statements are made.
Forward-looking statements necessarily involve assumptions, risks and uncertainties, certain of which are beyond
B2Gold's control, including risks associated with or related to: the volatility of metal prices and B2Gold's common
shares; changes in tax laws; the dangers inherent in exploration, development and mining activities; the uncertainty
of reserve and resource estimates; not achieving production, cost or other estimates; actual production, development
plans and costs differing materially from the est imates in B2Gold's feasibility and other studies; the ability to obtain
and maintain any necessary permits, consents or authorizations required for mining activities; environmental
regulations or hazards and compliance with complex regulations associated w ith mining activities; climate change
and climate change regulations; the ability to replace mineral reserves and identify acquisition opportunities; the
unknown liabilities of companies acquired by B2Gold; the ability to successfully integrate new acquisi tions;