B2Gold Announces Positive Year-End Exploration Drill Results for the Fekola Property and Anaconda Area in Mali
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News Release
B2Gold Announces Positive Year-End Exploration Drill Results
for the Fekola Property and Anaconda Area in Mali
Vancouver, Canada, December 9, 2019 – B2Gold Corp. (TSX: BTO, NYSE AMERICAN: BTG, NSX:
B2G) (“B2Gold” or the “Company”) announces positive year-end exploration drill results for the Fekola
property and Anaconda area.
Highlights
• Positive infill drilling of the Fekola Inferred Mineral Resource
• Fekola remains open to the north with new good-grade drill results
• Anaconda area exploration results:
o New drill results extend the Mamba and Adder saprolite zones (located 20 kilometres
north of Fekola)
o Additional high-grade drill intercepts expand the Mamba sulphide (bedrock) discovery below
the saprolite
• Initial positive drilling results from the Cardinal and FMZ zones indicate potential for additional gold
deposits near the Fekola open-pit mine
Recent Exploration
As part of B2Gold’s continuing exploration of the Fekola and Anaconda regional projects in 2019, the
Company completed approximately 114,000 metres of combined reverse circulation, diamond, aircore and
auger drilling. Drilling has resulted in the discovery of significant new bedrock -hosted mineralization in
the Mamba structure at Anaconda . At Fekola, the infill drilling results have continued to support the
conversion of Inferred Mineral Resources to Indicated Mineral Resources within the resource pit boundary
and drilling north of the resource pit continues to extend good-grade mineralization, remaining open to the
north.
Fekola Resource Infill Drill Program and North Extension Drilling
By November 2019, B2Gold completed more than 25,000 metres of drilling in the area, with the majority
of the area having been sufficiently drilled to upgrade the 1.37 million ounces of Inferred Mineral Resource
to Indicated Mineral Resource status (see news release dated October 25, 2018 ). An updated resource
model is expected to be completed by the end of 2019.
As reported in September 2019, excellent infill drill results were obtained from the deepest portions of the
2018 $1,400/ounce resource pit shell. Drill holes FKD_409 (4.03 grams per tonne (“g/t”) gold over 30.50
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metres from 437.5 metres), FKD_413 (10.44 g/t gold over 19.8 metres from 495.2 metres) and FKD_415
(3.3 g/t gold over 38.2 metres from 467.5 metres) provide added confirmation that significant intervals of
high-grade gold mineralization occur beyond the limits of the 2019 preliminary economic assessment pit
shell (see news release dated May 13, 2019 ). More recently, FKD_432 (1.50 g/t gold over 23.20 metres
from 525.80 metres, including 2.44 g/t gold over 11.50 metres from 525.80 metres) shows that
mineralization related to the Fekola shear zone extends beyond the limits of the current pit shells to the
north. The Company plans on extensively testing the potential for additional mineral resources at Fekola as
part of the proposed 2020 drill program.
Recent highlights from the Fekola North Extension drilling include:
Target Hole ID From To Metres Au_g/t Domain
Fekola North FKD_432 525.80 549.00 23.20 1.50 Sulphide
Fekola North Incl 528.40 539.90 11.50 2.44 Sulphide
Fekola North FKD_443 411.25 431.85 20.60 1.39 Sulphide
Fekola North Incl 411.25 429.00 17.75 1.50 Sulphide
Fekola North FKD_445 328.00 360.00 32.00 1.72 Sulphide
Fekola North Incl 334.00 360.00 26.00 1.94 Sulphide
Composites are reported above a 0.6 g/t gold cutoff.
Included high-grade intervals are reported above a 1.0 g/t gold cutoff.
Fig. 1 – Fekola schematic long section:
Anaconda Area Exploration
In addition to the Fekola drill program, in 2019, B2Gold completed over 45,000 metres of combined aircore,
diamond and reverse circulation drilling in the Anaconda region where the Company previously announced
an initial Inferred Mineral Resource estimate of 767,000 ounces of gold at 1.1 g/t in near -surface
mineralization over 4.5 kilometres and up to 500 metres wide.
In 2019, drilling focused on increasing the known saprolite resources at the Adder and Mamba zones and
further testing the underlying sulphide mineralization in the Mamba zone. At Adder, drilling has extended
the strike extent of mineralization up to 1 kilometre north of the known resource area. At Mamba, recent
drilling has extended the high-grade mineralized saprolite zone by approximately 600 metres, resulting in
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more than 1 kilometre of known strike length, and has led to the discovery of a continuous bedrock sulphide
zone down plunge of the Mamba zone’s saprolite mineralization. Good grade and width combinations,
including intersections in MSD_177 (2.64 g/t gold over 35.60 metres, including 4.71 g/t gold over 11.00
metres from 267.00 metres) and MSD_179 (4.94 g/t gold over 31.20 metres, including 10.02 g/t gold over
13.80 metres from 133.80 metres), provide early indications that the Mamba zone discovery has the
potential to become a significant new gold deposit for B2Gold near the Fekola Mine. This Fekola-style,
south-plunging body of sulphide mineralization remains open down plunge and will be the subject of
extensive drilling in 2020.
Recent highlights from the Anaconda area exploration include:
Target Hole ID From To Metres Au_g/t Domain
Adder BNR_026 0.00 37.00 37.00 1.34 Saprolite
Adder BNR_035 47.00 63.00 16.00 1.38 Saprolite
Adder BNR_036 71.00 91.00 20.00 2.99 Saprolite
Adder BNR_037 112.00 127.00 15.00 1.73 Saprolite
Adder BNR_033 4.00 19.00 15.00 1.21 Saprolite
Adder BNR_061 17.00 67.00 50.00 1.09 Saprolite
Mamba BND_003 127.60 146.70 19.10 3.16 Sulphide
Mamba Incl 127.60 141.90 14.30 3.70 Sulphide
Mamba BND_003 151.90 169.00 17.10 1.56 Saprolite
Mamba MSD_175 124.30 134.00 9.70 4.23 Sulphide
Mamba Incl 125.50 134.00 8.50 4.70 Sulphide
Mamba MSD_177 267.00 302.60 35.60 2.64 Sulphide
Mamba Incl 267.00 278.00 11.00 4.71 Sulphide
Mamba MSD_178 180.50 194.20 13.70 2.09 Sulphide
Mamba MSD_178 251.60 286.50 34.90 1.03 Sulphide
Mamba Incl 259.60 280.00 20.40 1.10 Sulphide
Mamba MSD_179 123.20 154.40 31.20 4.94 Sulphide
Mamba Incl 133.80 147.60 13.80 10.02 Sulphide
Sulphide composites are reported above a 0.6 g/t gold cutoff.
Saprolite composites are reported above a 0.2 g/t gold cutoff.
Included high-grade intervals are reported above a 1.0 g/t gold cutoff.
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Fig. 2 – Anaconda regional plan map:
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Fig. 3 – Mamba schematic long section:
Fekola Regional Exploration
Near Fekola, over 7,500 metres of initial drilling was completed on the Cardinal and FMZ structures which
have demonstrated the potential to host near-surface mineralization within 3 kilometres of the Fekola mill.
Additional drilling is required and is scheduled for completion in 2020.
Recent highlights from the Cardinal and FMZ exploration programs include:
Target Hole ID From To Metres Au_g/t Domain
Cardinal FER_067 87.00 111.00 24.00 1.80 Sulphide
Cardinal Incl 104.00 110.00 6.00 5.46 Sulphide
Cardinal FER_068 66.00 72.00 6.00 3.52 Sulphide
Cardinal FER_069 20.00 40.00 20.00 3.46 Saprolite
Cardinal FER_070 57.00 73.00 16.00 1.58 Sulphide
Cardinal FER_073 57.00 64.00 7.00 3.34 Sulphide
Cardinal Incl 58.00 64.00 6.00 3.75 Sulphide
Cardinal FER_077 80.00 118.00 38.00 1.15 Sulphide
Cardinal Incl 94.00 106.00 12.00 1.80 Sulphide
Cardinal FER_080 57.00 64.00 7.00 14.54 Sulphide
Cardinal FER_085 19.00 30.00 11.00 2.35 Sulphide
Cardinal FKD_427 233.00 251.00 18.00 2.12 Sulphide
Cardinal Incl 233.00 248.40 15.40 2.41 Sulphide
Cardinal FKD_438 74.75 81.00 6.25 7.08 Sulphide
Cardinal FKD_440 182.40 191.57 9.17 2.69 Sulphide
Cardinal Incl 186.56 191.57 5.01 4.63 Sulphide
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Target Hole ID From To Metres Au_g/t Domain
Cardinal FKD_448 129.80 138.40 8.60 2.53 Sulphide
FMZ FER_093 107.00 119.00 12.00 2.73 Sulphide
Composites are reported above a 0.6 g/t gold cutoff.
Included high-grade intervals are reported above a 1.0 g/t gold cutoff.
Ongoing Exploration
Drilling on the Fekola and Anaconda regional projects will continue in 2020 with a proposed exploration
budget in West Mali of approximately $18 million.
About B2Gold Corp.
Headquartered in Vancouver, Canada, B2Gold is the world’s new senior gold producer. Founded in 2007,
today, B2Gold has three operating gold mines and numerous exploration and development projects in
various countries including, Mali, the Philippines, Namib ia and Colombia. In 2020, B2Gold forecasts
consolidated gold production of between 1,005,000 and 1,050,000 ounces.
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 lab. At each lab, samples are prepared and analyzed using 50 g fire assay with atomic absorption
finish and/or gravimetric finish. Umpire assays are used to monitor lab performance monthly.
Quality assurance and quality control ( “QA/QC”) procedures include the systematic insertion of blanks,
standards and duplicates into the core, reverse circulation and aircore drilling 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 news release have passed B2Gold’s QA/QC protocols.
Qualified Persons
Tom Garagan, Senior Vice President of Exploration at B2Gold, a qualified person under NI 43 -101, has
approved the exploration information contained in this news release.
B2Gold Investor Day 2019: Webcast Details
B2Gold will be hosting an Investor Day in Vancouver, British Columbia, Canada, on Monday, December
9, 2019, at 1:00 pm PST/4:00 pm EST.
The event will feature presentations from B2Gold executives and senior managers from around the world
and will be followed by Q&A sessions.
The Investor Day will be available to view via live video webcast which you may access by clicking here:
https://www.b2gold.com/investor-day-2019/. A playback version of the webcast will be available for one
year after the event.
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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
+1 604-681-8371 +1 604-681-8371
[email protected] [email protected]
The Toronto Stock Exchange and the NYSE American LLC neither approve nor disapprove the information contained
in this news release.
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, estimates and other statements regarding future financial and operational performance, events,
production, costs, including projected cash operati ng costs and all-in sustaining costs, capital expenditures, budgets
and growth, production estimates and guidance, including the Company’s projected gold production of between
1,005,000 and 1,050,000 ounces in 2020, and statements regarding anticipated exp loration, development,
construction, production, permitting and other activities and achievements of the Company, including but not limited
to: mineralization in the upper portion of the Fekola North Extension zone being one continuous mineralized zone
and the potential to increase the extent of Fekola mineralization; the potential to extend good -grade mineralization
much further north from the Fekola resource pit boundary; results indicating the deeper portion of the Fekola
Northern Extension zone extending closer to surface and indicating continuity with mineralization from the deeper
drilling results from the upper portion of the Fekola North Extension; the potential for additional large Fekola style
deposits; the potential for highly prospective structures beneath the Anaconda and Mamba zones; the conversion of
inferred mineral resources to indi cated mineral resources; the projections included in existing technical reports,
economic assessments and feasibility studies; the results of anticipated or potential new technical reports and studies,
including the potential findings and conclusions there of. Estimates of mineral resources and reserves are also
forward-looking statements because they constitute projections regarding the amount of minerals that may be
encountered in the future and/or the anticipated economics of production, should a producti on decision be made. 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 c onditions “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 and assumptions associated with the volatility of metal prices and our
common shares; risks and dangers inherent in exploration, development and mining activities; uncertainty of reserve
and resource estimates; risk of not achieving production, cost or other estimates; risk that actual production,
development plans and costs differ materially from the estimates in our feasibility studies; risks related to hedging
activities and ore purchase commitments; the ability to obtain and maintain any necessary permits, consents or
authorizations required for mining activities; risks related to environmental regulations or hazards and compliance
with complex regulations associa ted with mining activities; the ability to replace mineral reserves and identify
acquisition opportunities; unknown liabilities of companies acquired by B2Gold; ability to successfully integrate new
acquisitions; fluctuations in exchange rates; availabilit y of financing; risks relating to financing and debt; risks
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related to operations in foreign and developing countries and compliance with foreign laws; risks related to remote
operations and the availability of adequate infrastructure, fluctuations in pric e 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; risks related to reliance upon contractors, third parties and j oint venture
partners; challenges to title or surface rights; dependence on key personnel and ability to attract and retain skilled
personnel; the risk of an uninsurable or uninsured loss; adverse climate and weather conditions; litigation risk;
competition with other mining companies; changes in tax laws; community support for our operations including risks
related to strikes and the halting of such operations from time to time; risks related to failures of information systems
or information security threats; ability to maintain adequate internal control over financial reporting as required by
law; risks relating to compliance with anti -corruption laws; 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 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”). Th e list is not exhaustive of the
factors that may affect the Company’s forward -looking statements. There can be no assurance that such 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 deriv e therefrom. The Company’s forward -looking statements reflect current expectations regarding
future events and operating performance and speak only as of the date hereof and the Company 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. The Company’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 the Company's ability to carry on current and future operations, including
development and exploration activities; the timing, extent, duration and economic viability of such operations,
including any mineral resources or reserves identified thereby; the accuracy and reliability of estimates, projections,
forecasts, studies and assessments; the Company’s ability to meet or achieve estimates, projections and forecasts; the
availability and cost of inputs; the price and market for outputs, including gold; 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. For the reasons set forth above, undue reliance
should not be placed on forward-looking statements.
Cautionary Note to United States Investors
The Company has prepared its public disclosures in accordance with Canadian securities laws, which differ in certain
respects from U.S. securities laws. In particular, this news release may refer to “mineral resources”, “measured
mineral resources”, “indicated mineral resources” or “inferred mineral resources”. While these categories of
mineralization are recognized and required by Canadian securities laws, they are not recognized by the SEC and are
not normally permitted to be disclosed in SEC filings by U.S. companies. U.S. investors are cautioned not to assume
that any part of a “mineral resource”, “measured mineral resource”, “ indicated mineral resource” or “inferred
mineral resource” will ever be converted into a “reserve.” In addition, “reserves” reported by the Company under
Canadian standards may not qualify as reserves under SEC standards. Under SEC standards, mineralization may not
be classified as a “reserve” unless the mineralization can be economically and legally extracted or produced at the
time the “reserve” determination is made. Accordingly, information contained or referenced in this news release
containing descriptions of the Company’s mineral deposits may not be compatible to similar information made public
by U.S. companies subject to the reporting and disclosure requirements of U.S. federal securities laws, rules and
regulations. “Inferred mineral resources” hav e a great amount of uncertainty as to their existence and great
uncertainty as to their economic and legal feasibility. It cannot be assumed that all or any part of an inferred mineral
resource will ever be upgraded to a higher category. Historical results or feasibility models presented herein are not
guarantees or expectations of future performance.