B2Gold Announces Initial Inferred Mineral Resource Estimate for the Springbok Zone of the Antelope Deposit at the Otjikoto Mine in Namibia

Core Insights - B2Gold Corp. has announced an initial Inferred Mineral Resource Estimate for the Springbok Zone, part of the Antelope deposit in Namibia, totaling 390,000 gold ounces [7][21][27] - The resource estimate includes 1.75 million tonnes grading 6.91 grams per tonne (g/t) gold, which meets the threshold for initiating Preliminary Economic Assessment (PEA) studies for underground mining [8][21] - Ongoing exploration at the Oryx Zone shows potential for increasing the Mineral Resource estimate, with high-grade intervals reported [8][27] Exploration and Drilling - Over 36,000 meters have been drilled in the Springbok Zone, with 16,950 meters completed in 2024 alone [8][11] - Recent drill results include significant high-grade intersections, such as 21.64 g/t gold over 5.88 meters and 13.68 g/t gold over 6.10 meters [28][30] - The 2024 exploration budget for Namibia is set at $9 million, funding the largest drill program at the Otjikoto Mine since 2012, with a total of 39,000 meters of drilling planned [25] Production Potential - Subject to a positive PEA and permitting, mining at the Springbok Zone could begin contributing to gold production at Otjikoto by 2026, with a goal of increasing production levels to over 100,000 ounces per year from 2026 to 2031 [8][27] - The potential exists to supplement processing of low-grade stockpiles at the Otjikoto Mine through 2031 [8] Resource Characteristics - The Springbok Zone mineralization is characterized by quartz-pyrrhotite-magnetite veins and locally visible gold, with mineralization overprinted by deformation along major stratigraphic markers [27] - High-grade mineralization exhibits continuity along a shoot-like geometry, indicating further exploration potential [28] Quality Control and Methodology - Quality assurance and control procedures include systematic insertion of blanks and standards in the sample sequence, with results evaluated regularly [15] - The initial resource model was prepared in-house, and all tonnage, grade, and contained metal content estimates have been rounded [11][22]