Welcome!

News Feed Item

B2Gold Corp. Announces Positive Exploration Drill Results from the Otjikoto Gold Project in Namibia

VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 12/11/12 -- B2Gold Corp. (TSX:BTO)(OTCQX:BGLPF)(PINKSHEETS:BGLPF)(NSX:B2G) ("B2Gold" or the "Company") is pleased to announce positive drilling results from the exploration programs at the Otjikoto Gold Project in Namibia. Of note, diamond drill hole number OTG25D returned 19.81 metres grading 15.00 grams per tonne ("g/t") gold, including 10.03 metres at 21.60 g/t gold from the recently discovered Wolfshag zone.

Otjikoto Gold Project, Namibia (B2Gold 92% / EVI Gold (Pty) Ltd 8%)

The Otjikoto gold project is located approximately 300 kilometres north of Windhoek, the capital of Namibia. B2Gold recently announced the receipt of a mining licence from the Namibian Ministry of Mines and Energy for the Otjikoto project (see news release dated December 05, 2012) and is nearing completion of the final feasibility study. Mine construction will commence in the first quarter of 2013 with gold production scheduled to commence in the fourth quarter of 2014.

The Otjikoto gold project has forecast average annual production of over 100,000 ounces of gold over a ten year mine life based on a Preliminary Economic Assessment released by Auryx Gold Corp. in September 2011. The B2Gold feasibility study that is nearing completion is expected to recommend a production Base Case that outlines significantly higher projected annual gold production in the first 5 years of the mine life based on the current resource.

The main Otjikoto deposit has an in-pit indicated mineral resource of 24.93 million tonnes at a grade of 1.74 "g/t" gold containing 1,392,690 ounces of gold on a 100% basis using a cut-off grade of 0.4 g/t gold (see news release dated April 5, 2012). The Otjikoto exploration budget for 2012 is US$8.9 million.

A total of 178 holes totalling 23,574 metres have been drilled on the Otjikoto Project this year. Of the 178 holes, 142 holes totalling 17,379 metres were drilled for Feasibility studies and the remainder for exploration. Feasibility drilling included 58 holes for condemnation of proposed infrastructure sites, 38 holes for collection of metallurgical test samples, 17 holes for geotechnical studies and the remainder as infill drilling and for geostatistical studies. There are currently three diamond core rigs active on the project with two rigs drilling at Otjikoto and a third rig drilling on regional exploration targets.

Exploration drilling in the Otjikoto area has principally focused on the exciting new Wolfshag zone (named after the Wolfshag Farm), previously announced as the K2 zone discovery by Auryx Gold (see Auryx Gold news release dated November 23, 2011) prior to B2Gold completing a Business Combination with Auryx Gold in December 2011. The zone is situated immediately to the northeast of the proposed open pit on the main Otjikoto deposit. The Wolfshag zone has been intersected for an additional 550 metres and now has a known minimum strike length of 950 metres. The mineralized shoot plunges at approximately 15 degrees to the south-southwest and remains open at depth. Significant new results from the Wolfshag zone drilling include:


--  OTG25D with 19.81 metres grading 15.00 g/t gold, including 10.03 metres
    at 21.60 g/t gold; 
--  WH31 with 16.00 metres grading 7.45 g/t gold; 
--  WH12-061 with 18.0 metres grading 5.90 g/t gold; and 
--  WH38 with 19.00 metres grading 1.88 g/t gold. 

The Wolfshag zone consists of a series of sheeted and tension gash fill pyrite-magnetite-calcite veins hosted within intense albite-carbonate + clay altered schists between folded coarse grained marbles. The zone is situated below the Main Otjikoto deposit and associated OTB marble marker horizon. The upper, high grade, western portion of the zone appears to be shallow easterly dipping and ranges in width from 50 to 75 metres and thickness from 6 to 31 metres. The eastern portion of the zone appears to have a steep eastward dip with the overall Wolfshag zone having an apparent sigmoidal shape. Drilling to date has been widely spaced with 100 to 200 metres drill section spacing and 25 to 50 metre drill hole spacing on section. More detailed drilling will be required to fully define the zone geometry.

The Wolfshag zone extends up dip to under the calcrete cover to the north and represents a potential near surface target. Given the high grades and significant thicknesses of mineralization there is potential for the southern portion of the zone to be exploited by underground mining. B2Gold management is excited about the potential of the Wolfshag zone and plans an aggressive exploration program in 2013 to further explore the zone and to provide definition to allow for an initial resource estimation. These results confirm our view that the Otjikoto property has the potential to yield significant additional gold resources.

A summary of the Wolfshag zone results to date are tabulated below:


---------------------------------------------------------------------------
                                                                   Gold g/t
                                                                    (cut to
           Section Station           FROM       TO   LENGTH    Gold  45 g/t
HoleID          (N)     (E)       (metres) (metres) (metres)   (g/t)   Gold)
---------------------------------------------------------------------------
OTG25D        7800    5050         287.74   307.55    19.81   15.00   14.91
---------------------------------------------------------------------------
OTG25D        7800    5050  incl.  289.74   299.77    10.03   21.60   21.41
---------------------------------------------------------------------------
OTG17D        7900    4975         279.00   280.00     1.00    3.39    3.39
---------------------------------------------------------------------------
OTG10D(i)     7900    5025         256.00   276.00    20.00    7.55    7.55
---------------------------------------------------------------------------
OTG18D(i)     7900    5075         279.00   285.00     6.00    1.73    1.73
---------------------------------------------------------------------------
OTG18D        7900    5075   and   312.00   320.00     8.00    1.83    1.83
---------------------------------------------------------------------------
OTG18D(i)     7900    5075   and   337.00   344.00     7.00    1.58    1.58
---------------------------------------------------------------------------
OTG23D        7900    5475         372.00   380.00     8.00    4.06    4.05
---------------------------------------------------------------------------
OTG23D        7900    5475  incl.  372.00   374.00     2.00   11.93   11.93
---------------------------------------------------------------------------
WH31          8100    4950         194.00   224.00    30.00    4.29    4.29
---------------------------------------------------------------------------
WH31          8100    4950  incl.  194.00   210.00    16.00    7.45    7.45
---------------------------------------------------------------------------
WH30          8100    5000         243.00   257.00    14.00    1.95    1.95
---------------------------------------------------------------------------
WH30          8100    5000   and   269.00   276.00     7.00    1.91    1.91
---------------------------------------------------------------------------
WH32          8100    5050         265.00   266.00     1.00    6.39    6.39
---------------------------------------------------------------------------
WH12-061      8300    4875         134.00   165.00    31.00    3.68    3.68
---------------------------------------------------------------------------
WH12-061      8300    4875  incl.  136.00   154.00    18.00    5.90    5.90
---------------------------------------------------------------------------
WH26          8300    4900         140.00   162.00    22.00    2.48    2.48
---------------------------------------------------------------------------
WH26          8300    4900  incl.  145.00   157.00    12.00    3.54    3.54
---------------------------------------------------------------------------
WH26          8300    4900   and   171.00   174.00     3.00    1.92    1.92
---------------------------------------------------------------------------
WH25(i)       8300    4925         189.00   200.00    11.00    3.95    3.95
---------------------------------------------------------------------------
WH20(i)       8300    4950         197.00   206.00     9.00    2.34    2.34
---------------------------------------------------------------------------
WH38          8500    4850          51.00    52.00     1.00    2.74    2.74
---------------------------------------------------------------------------
WH38          8500    4850   and    79.00    98.00    19.00    1.88    1.88
---------------------------------------------------------------------------
WH33          8500    4900         115.00   116.00     1.00    4.46    4.46
---------------------------------------------------------------------------
WH33          8500    4900   and   130.00   139.00     9.00    1.07    1.07
---------------------------------------------------------------------------
WH35          8500    5000         131.00   133.00     2.00    3.27    3.27
---------------------------------------------------------------------------
WH35          8500    5000   and   264.00   265.00     1.00    3.35    3.35
---------------------------------------------------------------------------
WH44          8500    5050         147.00   150.00     3.00    3.64    3.64
---------------------------------------------------------------------------
WH45          8700    4800          19.00    22.00     3.00    1.55    1.55
---------------------------------------------------------------------------
WH45          8700    4800   and    36.00    44.00     8.00    1.18    1.18
---------------------------------------------------------------------------
WH45          8700    4800   and    95.00   101.00     6.00    2.91    2.91
---------------------------------------------------------------------------
WH45          8700    4800  incl.   96.00    99.00     3.00    5.36    5.36
---------------------------------------------------------------------------
WH41          8700    5000          80.00    82.00     2.00   28.23   26.08
---------------------------------------------------------------------------

(i) Previously released (See Auryx Gold News Release Nov. 23, 2011)
Insufficient drilling to date to define true widths of all intersections.

Exploration drilling is ongoing. Further results will be released as they are available.

B2Gold's Quality Assurance / Quality Control

Quality assurance and quality control procedures include the systematic insertion of blanks, standards and duplicates into the rock sample strings. The primary laboratory for Otjikoto is ALS Minerals in Vancouver where samples are analysed by fire assay / gravimetric finish using one assay tonne. Samples are prepared at Intertek Genalysis, Walvis Bay. Bureau Vertitas, Swakopmund, Namibia, is the umpire laboratory. All results stated in this announcement have passed B2Gold's quality assurance and quality control ("QA/QC") protocols. Tom Garagan is the Qualified Person as defined under National Instrument 43-101.

ON BEHALF OF B2GOLD CORP.

Tom Garagan, Senior Vice President of Exploration

For more information on B2Gold please visit the Company web site at www.b2gold.com.

The securities described herein have not been and will not be registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements.

Some of the statements contained in this release are forward-looking statements, such as estimates and statements that describe the Company's future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Since forward-looking statements address future events and conditions, by their very nature, they involve inherent risks and uncertainties. Actual results in each case could differ materially from those currently anticipated in such statements.

The Toronto Stock Exchange neither approves nor disapproves the information contained in this news release.

Contacts:
B2Gold Corp.
Ian MacLean
Vice President, Investor Relations
604-681-8371

B2Gold Corp.
Kerry Suffolk
Manager, Investor Relations
604-681-8371
www.b2gold.com

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

Latest Stories
It's easy to assume that your app will run on a fast and reliable network. The reality for your app's users, though, is often a slow, unreliable network with spotty coverage. What happens when the network doesn't work, or when the device is in airplane mode? You get unhappy, frustrated users. An offline-first app is an app that works, without error, when there is no network connection.
Data-as-a-Service is the complete package for the transformation of raw data into meaningful data assets and the delivery of those data assets. In her session at 18th Cloud Expo, Lakshmi Randall, an industry expert, analyst and strategist, will address: What is DaaS (Data-as-a-Service)? Challenges addressed by DaaS Vendors that are enabling DaaS Architecture options for DaaS
One of the bewildering things about DevOps is integrating the massive toolchain including the dozens of new tools that seem to crop up every year. Part of DevOps is Continuous Delivery and having a complex toolchain can add additional integration and setup to your developer environment. In his session at @DevOpsSummit at 18th Cloud Expo, Miko Matsumura, Chief Marketing Officer of Gradle Inc., will discuss which tools to use in a developer stack, how to provision the toolchain to minimize onboa...
Companies can harness IoT and predictive analytics to sustain business continuity; predict and manage site performance during emergencies; minimize expensive reactive maintenance; and forecast equipment and maintenance budgets and expenditures. Providing cost-effective, uninterrupted service is challenging, particularly for organizations with geographically dispersed operations.
SYS-CON Events announced today that Catchpoint Systems, Inc., a provider of innovative web and infrastructure monitoring solutions, has been named “Silver Sponsor” of SYS-CON's DevOps Summit at 18th Cloud Expo New York, which will take place June 7-9, 2016, at the Javits Center in New York City, NY. Catchpoint is a leading Digital Performance Analytics company that provides unparalleled insight into customer-critical services to help consistently deliver an amazing customer experience. Designed...
When building large, cloud-based applications that operate at a high scale, it’s important to maintain a high availability and resilience to failures. In order to do that, you must be tolerant of failures, even in light of failures in other areas of your application. “Fly two mistakes high” is an old adage in the radio control airplane hobby. It means, fly high enough so that if you make a mistake, you can continue flying with room to still make mistakes. In his session at 18th Cloud Expo, Lee...
With the proliferation of both SQL and NoSQL databases, organizations can now target specific fit-for-purpose database tools for their different application needs regarding scalability, ease of use, ACID support, etc. Platform as a Service offerings make this even easier now, enabling developers to roll out their own database infrastructure in minutes with minimal management overhead. However, this same amount of flexibility also comes with the challenges of picking the right tool, on the right ...
DevOps is not just last year’s buzzword. Companies with DevOps practices are 2.5x more likely to exceed profitability, market share, and productivity goals. But how do you enable high performance? What can you do right now to start? Find out from DevOps experts including Gene Kim, co-author of "The Phoenix Project," and the Dynatrace Center of Excellence.
SYS-CON Events announced today that Column Technologies will exhibit at SYS-CON's @DevOpsSummit at Cloud Expo, which will take place on June 7-9, 2016, at the Javits Center in New York City, NY. Established in 1998, Column Technologies is a global technology solutions provider with over 400 employees, headquartered in the United States with offices in Canada, India, and the United Kingdom. Column Technologies provides “Best of Breed” technology solutions that automate the key DevOps principal...
SYS-CON Events announced today that Interoute, owner-operator of one of Europe's largest networks and a global cloud services platform, has been named “Bronze Sponsor” of SYS-CON's 18th Cloud Expo, which will take place on June 7-9, 2015 at the Javits Center in New York, New York. Interoute is the owner-operator of one of Europe's largest networks and a global cloud services platform which encompasses 12 data centers, 14 virtual data centers and 31 colocation centers, with connections to 195 ad...
Join us at Cloud Expo | @ThingsExpo 2016 – June 7-9 at the Javits Center in New York City and November 1-3 at the Santa Clara Convention Center in Santa Clara, CA – and deliver your unique message in a way that is striking and unforgettable by taking advantage of SYS-CON's unmatched high-impact, result-driven event / media packages.
SYS-CON Events announced today that Commvault, a global leader in enterprise data protection and information management, has been named “Bronze Sponsor” of SYS-CON's 18th International Cloud Expo, which will take place on June 7–9, 2016, at the Javits Center in New York City, NY, and the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Commvault is a leading provider of data protection and information management...
There will be new vendors providing applications, middleware, and connected devices to support the thriving IoT ecosystem. This essentially means that electronic device manufacturers will also be in the software business. Many will be new to building embedded software or robust software. This creates an increased importance on software quality, particularly within the Industrial Internet of Things where business-critical applications are becoming dependent on products controlled by software. Qua...
As someone who has been dedicated to automation and Application Release Automation (ARA) technology for almost six years now, one of the most common questions I get asked regards Platform-as-a-Service (PaaS). Specifically, people want to know whether release automation is still needed when a PaaS is in place, and why. Isn't that what a PaaS provides? A solution to the deployment and runtime challenges of an application? Why would anyone using a PaaS then need an automation engine with workflow ...
With an estimated 50 billion devices connected to the Internet by 2020, several industries will begin to expand their capabilities for retaining end point data at the edge to better utilize the range of data types and sheer volume of M2M data generated by the Internet of Things. In his session at @ThingsExpo, Don DeLoach, CEO and President of Infobright, will discuss the infrastructures businesses will need to implement to handle this explosion of data by providing specific use cases for filte...