B2Gold Announces Positive Exploration Drill Results from Near Fekola and Anaconda Area Exploration Drilling
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News Release
B2Gold Announces Positive Exploration Drill Results from
Near Fekola and Anaconda Area Exploration Drilling
Vancouver, BC, September 17, 2020 – B2Gold Corp. (TSX: BTO, NYSE AMERICAN: BTG, NSX:
B2G) (“B2Gold” or the “Company”) announces additional positive exploration drilling results from the
Cardinal and FMZ zones near Fekola, and the Mamba zone in the Anaconda area:
Highlights
• New high-grade drill results from the Cardinal and FMZ zones extend the mineralization to over
3.5 kilometres along strike , continuing to indicate potential for additional gold deposits near the
Fekola mine, with additional potential at depth and along strike
• Resource infill drilling completed at the Cardinal zone, with an initial Inferred Mineral Resource
estimate expected in the first quarter of 2021
• Additional high-grade drill intercepts at the Mamba zone extend the mineralized zone by over one
kilometre, to a total known strike length of approximately 2.2 kilometres (20 kilometres north of
Fekola)
• Resource infill drilling at the Mamba zone in the Anaconda area approximately 90% complete,
with an updated mineral resource estimate for the Anaconda area expected by the end of the fourth
quarter of 2020
• The Fekola deposit remains open to the north
Recent Exploration Drilling
In 2020, B2Gold continued exploration drilling near Fekola and the Anaconda area with an $18 million
program in Mali that focussed on exploration at the Cardinal and FMZ zones near the Fekola deposit which
demonstrate potential for additional gold deposits within 3 kilometres of the Fekola mill, expanding the
mineral resources within the Anaconda area, including the Mamba zone , and further testing the sulphide
zones.
Fekola Regional Exploration
B2Gold completed approximately 33,000 metres of combined reverse circulation and diamond drilling on
the Cardinal and FMZ zones in 2020. The new high-grade drill results now extend the gold mineralization
at the Cardinal and FMZ zones to over 3.5 kilometres along strike and intersected up to 350 metres vertically
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below surface, with the northern portion of the Cardinal zone passing within 500 metres of the current
Fekola resource pit. The high gold grade intersections at the Cardinal zone locally define a moderately
northeast plunging shoot, which demonstrates good exploration potential down plunge. Mineralization at
the Cardinal and FMZ zones remains open at depth and along strike.
The Cardinal and FMZ zones comprise multiple, sub -parallel, west-dipping shear zones with an average
width of approximately 10 metres for the main Cardinal zone. Within the shears, gold is spatially associated
with quartz-carbonate veins and is strongly associated with the coarse grained pyrite. Rare visible gold has
been noted within the quartz-carbonate veins.
In addition, most of the Cardinal and FMZ zones have now been drilled to approximately 50 x 50 metre
centres, sufficient to commence the preparation of initial Inferred Mineral R esource estimate, which the
Company expects to release in the first quarter of 2021.
Select results from the recent Cardinal and FMZ drilling include:
Target Hole ID From (m) To (m) Meters Gold g/t
FMZ FKD_461 236.50 245.50 9.00 3.75
FMZ FKD_462 135.20 146.00 10.80 13.34
FMZ FKD_462 162.00 176.90 14.90 3.18
FMZ FER_135 72 78 6 7.32
FMZ FER_135 131 142 11 2.18
Cardinal FKD_511 212.40 239.87 27.47 3.34
Cardinal FKD_469 174.20 180.45 6.25 7.92
Cardinal FKD_476 129.70 135.10 5.40 7.45
Cardinal FKD_477 260.80 286.10 25.30 2.36
Cardinal FKD_479 144.90 165.00 20.10 15.47
Cardinal FKD_481 272.00 294.00 22.00 2.73
Cardinal FKD_486 81.00 92.15 11.15 3.35
Cardinal FKD_499 147.00 160.85 13.85 1.55
Cardinal FKD_504 23.57 32.25 8.68 3.69
Cardinal FKD_508 229.50 236.30 6.80 7.08
Cardinal FKD_512 153.50 159.90 6.40 4.29
Cardinal FKD_512 187.45 198.60 11.15 6.18
Cardinal FKD_514 180.20 197.90 17.70 1.29
Cardinal FER_098 58 72 14 3.80
Cardinal FER_111 114 119 5 6.43
Cardinal FER_115 93 108 15 8.85
Cardinal FER_141 72 85 13 1.99
Cardinal FER_143 62 91 29 1.41
Cardinal FER_145 97 106 9 3.73
Cardinal FER_147 138 146 8 3.19
Cardinal FER_148 29 39 10 4.49
Cardinal FER_149 132 138 6 3.57
Cardinal FER_166 45 51 6 5.47
Cardinal FER_181 111 124 13 2.57
Composites are reported above 0.6 g/t gold cutoff.
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Cardinal: Schematic Long Section (NW Facing)
Click here to view the Cardinal: Schematic Long Section (NW Facing)
Anaconda Area Exploration
B2Gold completed approximately 18,000 metres of combined reverse circulation and diamond drilling on
the Anaconda area, focused mainly on the Mamba zone, in 2020. The Company has previously announced
an Inferred Mineral Resource estimate for the Anaconda area of 767,000 ounces of gold at 1.1 grams per
tonne (“g/t”) in near surface saprolite mineralization over 4.5 kilometres and up to 500 metres wide.
The exploration drilling on the Mamba zone focused on increasing the size of the known saprolite resource
and further testing the underlying sulphide mineralization. The high-g rade intercepts at the Mamba zone
demonstrate well mineralized intersections of sulphide-h osted g old over a total strik e len gth of
approximately 2.2 kilometres , approximately 1 .2 k ilometres longer than previou sly reported. The good
grade and width combinatio ns continue to provide strong support for this interpretation , including
intersections in MSD_200 (3.40 g/t gold over 15.80 metres) and MSD_201 (3.86 g/t gold over 13.80
metres), and provide a strong indication of the potential for a second Fekola-style south plunging body of
sulphide mineralization, which remains open down plunge. One of the key geological aspects of the Mamba
zone is the continuity in the high grad e mineralization in the transition from saprolite - to sulphide-hosted
zones of mineralization.
The Co mpany also completed additional infill drilling in o rder to provide sufficient definition for an
updated mineral resource estimate on the Anaconda area, which the Company expects to be comp leted by
the end o f the fourth q uarter of 2020. Geological modeling and the preliminary stages o f resource
estimation are currently in progress.
Select results from Mamba saprolite drilling include:
Target Hole ID From (m) To (m) Meters Gold g/t Domain
Mamba BND_010 0.0 15.2 15.2 2.71 saprolite
Mamba BND_010 43.1 66.0 22.9 1.22 saprolite
Mamba BND_014 35.0 49.5 14.5 2.55 saprolite
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Mamba BNR_139 40.0 55.0 15.0 1.68 saprolite
Mamba BNR_149 2.0 14.0 12.0 2.62 saprolite
Mamba BNR_159 35.0 49.0 14.0 3.12 saprolite
Mamba BNR_165 22.0 37.0 15.0 2.38 saprolite
Mamba BNR_191 0.0 29.0 29.0 1.84 saprolite
Mamba BNR_194 24.0 55.0 31.0 3.89 saprolite
Mamba BNR_206 88.0 114.0 26.0 1.80 saprolite
Mamba BNR_216 0.0 48.0 48.0 1.69 saprolite
Mamba BNR_217 22.0 56.0 34.0 1.56 saprolite
Mamba BNR_217 73.0 115.0 42.0 2.18 saprolite
Mamba BNR_220 43.0 86.0 43.0 1.23 saprolite
Mamba MSD_204 72.5 97.0 24.5 1.15 saprolite
Saprolite composites are reported above a 0.2 g/t gold cutoff.
Select results from the Mamba zone sulphide drilling include :
Target Hole ID From (m) To (m) Meters Gold g/t Domain
Mamba BND_006 100.5 116.1 15.6 2.49 sulphide
Mamba BND_006 237 246 9 1.49 sulphide
Mamba BND_007 172 185.5 13.5 1.66 sulphide
Mamba BND_008 116 124.7 8.7 11.84 sulphide
Mamba BND_008 146 158 12 2.77 sulphide
Mamba BND_015 202.15 207.3 5.15 4.13 sulphide
Mamba BNR_106 31 42 11 2.03 sulphide
Mamba BNR_109 72 98 26 1.57 sulphide
Mamba BNR_122 90 113 23 1.14 sulphide
Mamba BNR_144 110 124 14 1.58 sulphide
Mamba BNR_151 138 160 22 1.45 sulphide
Mamba BNR_191 116 150 34 4.11 sulphide
Mamba BNR_194 179 205 26 2.22 sulphide
Mamba BNR_206 114 135 21 2.83 sulphide
Mamba BNR_227 52 77 25 2.43 sulphide
Mamba MSD_193 283.1 303.5 20.4 1.02 sulphide
Mamba MSD_194 131.3 149 17.7 1.55 sulphide
Mamba MSD_194 239.1 254.8 15.7 6.96 sulphide
Mamba MSD_196 314.9 325.12 10.22 2.01 sulphide
Mamba MSD_197 267.7 281.1 13.4 2.38 sulphide
Mamba MSD_198 154.1 170.6 16.5 1.57 sulphide
Mamba MSD_198 244.6 257.8 13.2 1.56 sulphide
Mamba MSD_200 309.7 325.5 15.8 3.43 sulphide
Mamba MSD_201 82.2 96 13.8 3.86 sulphide
Mamba MSD_203 145.8 158.25 12.45 4.77 sulphide
Mamba MSD_205 239.1 255 15.9 5.09 sulphide
Composites are reported above 0.6 g/t gold cutoff.
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M
amba: Schematic Long Section (West Facing)
Click here to view the Mamba: Schematic Long Section (West Facing)
Ongoing Exploration
During the remainder of 2020, the Company plans to drill approximately 5,300 metres at the Anaco nda
area, where the focus will remain on expanding the saprolite and sulphide mineralization in the Anaconda
area, including at the Mamba and Adder zones.
For the Fekola region, drilling at the Cardinal and FMZ zones is ongoing, with an initial Inferred Mineral
Resource estimate scheduled for completion in the first quarter of 2021. In addition, ongoing drilling will
continue to expand the limits of known mineralization and will include step outs to the northeast, to target
the projected intersection of the Cardinal and Fekola deposits at depth.
B2Gold intends on releasing additional Fekola area exploration drill results later in 2020.
QA/QC on Sample Collection and Assaying
The primary laboratories for Fekola are SGS Laboratories in Bamako, Mali and Bureau Veritas
Laboratories in Abidjan, Cote d 'Ivoire. Periodically, exploration samples will be analyzed at the Fekola
Mine laboratory. At each lab oratory, samples are prepared and analyzed using 50-gram fire assay with
atomic absorption finish and/or gravimetric finish. Umpire assays are used to monitor lab performance
monthly.
Quality assurance and quality control procedures include the systematic insertion of blanks, standards and
duplicates into the core, reverse circulation and aircor e drilling sampl e strings. Th e 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 Corp.
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 Philippin es and numero us
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exploration and development projects in various countries including Mali and Colombia. B2Gold continues
to forecast total consolidated gold production of between 1,000,000 and 1,055,000 ounces in 2020.
Qualified Persons
Tom Garagan, Senior Vice President of Exploration at B2Gold, a qualified person under NI 43- 101, has
reviewed and approved the information contained in this news release.
ON BEHALF OF B2GOLD CORP.
“Clive T. Johnson”
President and Chief Executive Officer
For more information on B2Gold please visit the Company website at www.b2gold.com or contact:
Ian MacLean Katie Bromley
Vice President, Investor Relations Manager, Investor Relations & Public Relations
604-681-8371 604-681-8371
[email protected] [email protected]
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 20, 2020 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; the impact of the COVID-19 pandemic on B2Gold’s operations, including
any restrictions or suspensions with respect to our operations and the effect of any such restrictions or suspensions
on our financial and operational results; the ability of the Company to successfully maintain our operations if they
are temporarily suspended, and to restart or ramp -up these operations efficiently and economically, the impact of
COVID-19 on the Company’s workforce, suppliers and other essential resources and what effect those impacts, if they
occur, would have on our business, our planned capital and exploration expenditures; future or estimated mine life,
metal price assumptions, ore grades or sources, gold recovery rates, stripping ratios, throughput, ore processing;
statements regarding anticipated exploration, drilling, development, construction, permitting and other activities or
achievements of B2Gold; and including, without limitation: projected total consolidated gold production of between
1,000,000 and 1,055,000 ounces in 2020; the completion of an initial inferred mineral resource estimate for the
Cardinal zone in the first quarter of 2021; the completion of an updated mineral resource estimate for the Anaconda
area by the end of the fourth quarter of 2020. 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 n ot historical facts and are generally, although not always, identified by words such as “expect”, “plan”,
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“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 duration and extent of the COVID- 19 pandemic,
the effectiveness of preventative measur es and contingency plans put in place by the Company to respond to the
COVID-19 pandemic, including, but not limited to, social distancing, a non -essential travel ban, business continuity
plans, and efforts to mitigate supply chain disruptions; escalation of travel restrictions on people or products and
reductions in the ability of the Company to transport and refine doré; 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 estimates 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 with mining activities;
climate change and climate change r egulations; the ability to replace mineral reserves and identify acquisition
opportunities; the unknown liabilities of companies acquired by B2Gold; the ability to successfully integrate new
acquisitions; fluctuations in exchange rates; the availability of financing; financing and debt activities, including
potential restrictions imposed on B2Gold’s operations as a result thereof and the ability to generate sufficient cash
flows; operations in foreign and developing countries and the compliance with foreign laws, including those
associated with operations in Mali, Namibia, the Philippines, Colombia and Burkina Faso and including risks related
to changes in foreign laws and changing policies related to mining and local ownership requirements or resource
nationalization generally, including in response to the COVID-19 outbreak; remote operations and the availability of
adequate infrastructure; fluctuations in price and availability of energy and other inputs necessary for mining
operations; shortages or cost increases in necessary equipment, supplies and labour; regulatory, political and country
risks, including local instability or acts of terrorism and the effects thereof; the reliance upon contractors, third parties
and joint venture partners; the lack of sol e decision-making authority related to Filminera Resources Corporation,
which owns the Masbate Project; challenges to title or surface rights; the dependence on key personnel and the ability
to attract and retain skilled personnel; the risk of an uninsurab le or uninsured loss; adverse climate and weather
conditions; litigation risk; competition with other mining companies; community support for B2Gold’s operations,
including risks related to strikes and the halting of such operations from time to time; conflicts with small scale miners;
failures of information systems or information security threats; the ability to maintain adequate internal controls over
financial reporting as required by law, including Section 404 of the Sarbanes -Oxley Act; compliance with anti-
corruption laws, and sanctions or other similar measures; social media and B2Gold’s reputation; risks affecting
Calibre having an impact on the value of the Company’s investment in Calibre, and potential dilution of our equity
interest in Calibre; as well as other factors identified and as described in more detail under the heading “Risk
Factors” in B2Gold’s most recent Annual Information Form, B2Gold’s current Form 40 -F Annual Report and
B2Gold’s other filings with Canadian securities regulators and the U.S. Securities and Exchange Commission (the
“SEC”), which may be viewed at www.sedar.com and www.sec.gov, respectively (the “Websites”). The list is not
exhaustive of the factors that may affect B2Gold’s forward-looking statements
B2Gold’s forward-looking statements are based on the applicable assumptions and factors management considers
reasonable as of the date hereof, based on the information available to management at such time. These assumptions
and factors include, but are not limited to, assumptions and factors related to B2Gold’s ability to carry on current
and future operations, including: the duration and effects of COVID -19 on our operations and workforce;
development and exploration activities; the timing, extent, duration and economic via bility of such operations,
including any mineral resources or reserves identified thereby; the accuracy and reliability of estimates, projections,
forecasts, studies and assessments; B2Gold’s ability to meet or achieve estimates, projections and forecasts; the
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availability and cost of inputs; the price and market for outputs, including gold; foreign exchange rates; taxation
levels; the timely receipt of necessary approvals or permits; the ability to meet current and future obligations; the
ability to obtain timely financing on reasonable terms when required; the current and future social, economic and
political conditions; and other assumptions and factors generally associated with the mining industry.
B2Gold’s forward-looking statements are based on the opinions and estimates of management and reflect their current
expectations regarding future events and operating performance and speak only as of the date hereof. B2Gold does
not assume any obligation to update forward -looking statements if circumstances or management’s beliefs,
expectations or opinions should change other than as required by applicable law. There can be no assurance that
forward-looking statements will prove to be accurate, and actual results, performance or achievements could differ
materially from those expressed in, or implied by, these forward -looking statements. Accordingly, no assurance can
be given that any events anticipated by the forward -looking statements will transpire or occur, or if any of them do,
what benefits or liabilities B2Gold will derive therefrom. For the reasons set forth above, undue reliance should not
be placed on forward-looking statements.