News Release
B2Gold Corp. Announces Positive Exploration Results
at the Cebollati Gold Property, Uruguay and Trebol
Project, Nicaragua
Vancouver, November 15, 2010 - B2Gold Corp. (TSX: BTO, "B2Gold" or the
"Company"), is pleased to announce encouraging results from the
exploration programs on the Cebollati Gold project
in Uruguay and on the Trebol Project, a joint
venture with Radius Gold Inc. ("Radius"), in Nicaragua.
Cebollati Gold Project, Uruguay
Trench and geological mapping results confirm the
potential for significant zones of mineralization at B2Gold's early stage Cebollati project in Uruguay.
Mineralization has now been traced through a
combination of mapping, prospecting, trenching and soil geochemical sampling
over a 2.2 kilometre ("km") by 800 metres area in a series of north-northeast trending
zones, which remain open in all directions. Highlights of new trench results
include 13.60 metres grading 9.86 grams per tonne ("g/t") gold in trench 0.837E; 60.5 metres grading 2.22 g/t gold from trench T.1.8N; 52.8 metres grading 2.54 g/t gold in trench T.1.55N; and 94.8 metres grading 1.55 g/t gold in trench T.1.4N.
To date 2,214 linear metres
have been completed in a total of eleven trenches. Systematic trenching is
ongoing along with geological mapping and soil geochemical sampling programs.
New results have been received from trenches in the southern and southeastern
portions of the property.
Highlight of the new results are presented in the
table below:
Location
|
Trench
Name
|
|
From
|
To
|
Metres
|
Gold
g/t
|
Gold
Cut* g/t
|
837
|
T.0.837E
|
|
93.10
|
106.70
|
13.60
|
9.86
|
3.51
|
|
|
incl.
|
93.10
|
95.40
|
2.330
|
19.25
|
6.80
|
|
|
incl.
|
98.20
|
98.60
|
0.40
|
169.40
|
25.00
|
|
|
|
123.40
|
124.30
|
0.90
|
13.90
|
13.90
|
Southern
|
T.1.4N
|
|
54.50
|
149.30
|
94.80
|
1.55
|
1.55
|
|
|
|
177.30
|
184.00
|
6.70
|
0.73
|
0.73
|
Southern
|
T.1.55N
|
|
3.80
|
15.50
|
11.70
|
1.23
|
1.23
|
|
|
|
34.20
|
87.00
|
52.80
|
2.54
|
1.69
|
|
|
incl.
|
58.00
|
87.00
|
29.00
|
4.02
|
2.47
|
Cebollati gold highlights of the new results continued:
Location
|
Trench
Name
|
|
From
|
To
|
Metres
|
Gold
g/t
|
Gold
Cut* g/t
|
Southern
|
T.1.6N
|
|
5.80
|
35.80
|
30.00
|
0.53
|
0.53
|
|
|
|
53.30
|
63.80
|
10.50
|
0.66
|
0.66
|
|
|
|
77.30
|
90.50
|
13.20
|
0.50
|
0.50
|
|
|
|
111.80
|
154.00
|
42.20
|
1.73
|
1.73
|
Southern
|
T.1.8N
|
|
0.00
|
24.00
|
24.00
|
1.07
|
1.07
|
|
|
|
103.60
|
115.50
|
11.90
|
1.23
|
1.23
|
|
|
|
152.00
|
212.50
|
60.50
|
2.22
|
2.00
|
|
|
incl.
|
162.50
|
184.00
|
21.50
|
4.35
|
3.75
|
|
|
|
260.10
|
266.60
|
6.50
|
0.85
|
0.85
|
* Individual sample values cut to 25 g/t gold
The new trenching results suggest good continuity of
mineralization over significant widths in excess of 500 metres
within multiple zones in the Southern and 837 zones. Initial trenching (refer to news release dated
September 2, 2010) defined significant gold values 400 metres further to the north, in the Windmill zone, with
values of up to 2.03 g/t gold over 108 metres in
trench T.0.450E. Additionally, soil geochemical sampling, surface mapping and
prospecting has outlined zones of similar mineralization with visible gold a
further 1.3 km to the north.
Mineralization is hosted within decalcified marbles
and schist horizons within the core and limbs of an antiformal
structure and is associated with strong hematite and/or jarosite
zones. Gold mineralization exposed in the trenches occurs predominantly
within oxidized replacement style mineralization and to a lesser extent in
sheeted quartz veins. Visible gold is common on the property and frequently
occurs as coatings on fracture plans, suggesting there may be some surface
enrichment.
An initial 5,000 m diamond drill program is
scheduled to start in January 2011 with the purpose to test the bulk mining
potential of the property. The geological setting and widespread surface
gold-silver mineralization at Cebollati confirm the
bulk-mineable gold potential of this property.
B2Gold is earning an 80% interest in the Cebollati project by paying US$1 million in stages by
January 31, 2012 and funding all exploration work through feasibility.
Additional obligations include the completion of a feasibility study, a per ounce gold payment and a Net Smelter Return for
additional production. The Cebollati property
consists of ten claims totaling 34,200 hectares covering a belt of 50 km long
by 10 to 15 km wide located in the Department of Lavalleja, 180 km by good
paved road from the capital city Montevideo.
Trebol Project, Nicaragua
The Company has the right to earn a majority
interest from joint venture partner, Radius in two properties called Trebol and Pavon located in
northeast Nicaragua. B2Gold has completed an extensive trenching campaign and
is now preparing for the drilling phase. In addition to the original Cerro
Domingo target partially drill tested by Radius in 2008, B2Gold has
identified three new drill targets located along the 6 km northeast trending
belt of continuously mineralized volcanic rock. The 6 km zone is situated in
a larger, 22 km corridor of anomalous gold. The targets are comprised of
thick tabular zones of low sulfidation epithermal
vein, hydrothermal breccia, and replaced volcanic
horizons within a Tertiary volcanic sequence. These zones show good grade
continuity for hundreds of meters of strike length. The three principal areas
are Cerro Domingo, the Paola Zone, and Trebol North.
Two prospective areas have been outlined by
trenching at Cerro Domingo. The first is defined by the previous drilling and
trenching as well as the new trenching. This zone extends for at least 400
metres along strike and has been intercepted in the drilling at depths of as
much as 200 metres down dip. The true thickness of the mineralization is not
yet defined.
Cerro Domingo West Trenching
Trench
|
From
|
To
|
Metres
|
Gold g/t
|
TR-TREB-01
|
11.00
|
13.50
|
2.50
|
0.69
|
TR-TREB-02
|
0.00
|
10.42
|
10.42
|
1.34
|
TR-TREB03NW
|
2.00
|
90.00
|
88.00
|
2.04
|
TRTREB-03SE
|
8.25
|
31.25
|
23.00
|
1.31
|
TR-TREB-15
|
0.00
|
33.80
|
33.80
|
3.37
|
TR-TREB-21
|
0.00
|
17.10
|
17.10
|
6.08
|
TR-TREB-42
|
34.00
|
39.00
|
5.00
|
0.75
|
TR-TREB-49
|
8.00
|
33.00
|
25.00
|
1.51
|
Drilling done by Radius in 2008 at Cerro Domingo (see Radius news releases dated
August 7 and September 12, 2008) confirmed the existence of the
tabular mineralization in several drill holes.
Cerro Domingo Drilling (Radius 2008)
Drill
Hole
|
From
|
To
|
Metres
|
Gold g/t
|
TRDH-08-01
|
12.19
|
35.30
|
23.11
|
1.51
|
TRDH-08-02
|
36.57
|
50.29
|
13.72
|
0.71
|
TRDH-08-03
|
59.44
|
89.42
|
25.38
|
0.44
|
TRDH-08-04
|
3.30
|
24.38
|
21.08
|
1.44
|
TRDH-08-05
|
6.09
|
25.90
|
19.81
|
2.92
|
including
|
16.76
|
23.20
|
6.44
|
6.37
|
TRDH-08-08
|
57.60
|
108.10
|
50.50
|
0.61
|
including
|
68.08
|
69.00
|
0.92
|
11.21
|
The second zone covers an area of over 350 metres
along strike. This area has not been drilled. The two Cerro Domingo zones are
separated by an east northeast trending mineralized fault zone that is as
yet, poorly defined.
Cerro Domingo East Trenching
Trench
|
From
|
To
|
Metres
|
Gold g/t
|
TR-TREB-17
|
0.00
|
21.00
|
21.00
|
0.86
|
TR-TREB-34S
|
17.50
|
73.50
|
56.00
|
1.14
|
TR-TREB-34N
|
3.00
|
18.00
|
15.00
|
0.73
|
TR-TREB-50
|
2.00
|
33.00
|
31.00
|
0.68
|
TR-TREB-56
|
19.20
|
27.90
|
8.70
|
0.76
|
The Paola Zone is located approximately 2.5 km NE
along strike from Cerro Domingo and the intervening volcanic sequence between
these zones contains numerous smaller occurrences of mineralized rock. The
two principle areas within the Paola Zone are also located at major
structural intersections along the main Trebol northeast trend with northwest
trending crossing structures. One of these areas contains several strongly
mineralized horizons inter layered with lower grade stockwork style gold
mineralization in andesite. The mineralization at the Paola Zone is similar
in aspect to the tabular zones at Cerro Domingo. The Paola North Zone is
exposed over an area of about 200 metres by 400 metres. The Paola South zone
lies 350 metres to the southeast and has at least 600 metres of strike length
defined thus far. Most of the trenches in this zone end in mineralization to
the west where mineralization goes undercover.
Paola Zone North
Trenching
Trench
|
From
|
To
|
Metres
|
Gold g/t
|
TR-TREB-06
|
0.00
|
10.00
|
10.00
|
0.93
|
TR-TREB-08
|
9.80
|
11.65
|
1.85
|
3.54
|
TR-TREB-32
|
0.00
|
17.00
|
17.00
|
0.89
|
and
|
28.00
|
50.00
|
22.00
|
1.88
|
TR-TREB-53
|
22.00
|
28.00
|
6.00
|
0.78
|
and
|
31.00
|
34.00
|
3.00
|
0.93
|
and
|
35.00
|
42.50
|
7.50
|
0.83
|
TR-TREB-72
|
3.80
|
8.80
|
5.00
|
1.36
|
Paola Zone South Trenching
Trench
|
From
|
To
|
Metres
|
Gold g/t
|
TR-TREB-13
|
2.00
|
4.00
|
2.00
|
4.24
|
TR-TREB-61
|
3.50
|
15.90
|
12.40
|
1.11
|
and
|
20.00
|
28.50
|
8.50
|
2.18
|
TR-TREB-76
|
0.00
|
36.00
|
36.00
|
2.95
|
and
|
40.00
|
44.00
|
4.00
|
2.18
|
TR-TREB-81
|
0.00
|
27.50
|
27.50
|
1.84
|
The Trebol North Zone is
located another 1.7 km to the northeast of Paola, and appears to be another
tabular zone in andesite. Exposure is poor at Trebol North. Trebol North and
the Paola Zones have not been drill tested.
Trebol North
Trench
|
From
|
To
|
Metres
|
Gold g/t
|
TR-TREB-24
|
17.75
|
51.00
|
33.25
|
3.33
|
TR-TREB-25
|
2.30
|
6.37
|
4.07
|
0.87
|
TR-TREB-62
|
15.00
|
24.00
|
9.00
|
0.87
|
TR-TREB-82
|
9.60
|
12.75
|
3.15
|
0.51
|
and
|
14.55
|
16.15
|
1.60
|
0.58
|
and
|
19.60
|
21.10
|
1.50
|
0.75
|
The near surface shallow dipping mineralization at Trebol is largely oxidized, therefore could be amenable
to bulk tonnage extraction techniques. The drilling campaign will be focused
on three objectives. The first is to confirm and define the near surface
tabular zones at Cerro Domingo while the second is to explore the new Paola
and North Trebol zones, and the third is to
identify the high grade feeder structures that produced the tabular bodies.
High grade gold values in vein and vein breccia in excess of 86 g/t have been
cut in the trenching and drilling which suggests the existence of the feeder
zones. A 5,000 metre drilling program is scheduled to commence at Trebol in
late 2010.
The Company will release results from the Cebollati
and Trebol drill programs as they become available.
Other Exploration
B2Gold remains very active in exploration work on
other projects. The Company and joint venture partner AngloGold are
conducting a major exploration and prefeasibility drilling program on the
Gramalote property in Colombia. The Company will release results from the
exploration drilling at Gramalote as they become available. In addition, the
Company continues exploration and infill drilling at La Libertad and Limon
Mines in Nicaragua. B2Gold intends to release drill results from these
programs in the next few weeks.
For more information on these programs refer to the
third quarter news release dated November 11, 2010.
Conference Call
A conference call to discuss the third quarter
results and this exploration update will be held today at 1:15pm PST / 4:15pm
EST. You may access the call by dialing the operator at 416-340-8530 or toll
free 1-888-340-9642 prior to the scheduled start time. A playback version of
the call will be available for one week after the call at 416-695-5800 or
toll free 1-800-408-3053 (pass code: 1182751).
At the time of the conference call, maps of both the
Cebollati and Trebol projects will be available for review on the B2Gold
website at www.b2gold.com.
The exploration programs are reviewed and the
results approved by Tom Garagan, B2Gold's Qualified Person under National
Instrument 43-101. The programs utilize extensive QA/QC (quality assurance
and quality control) protocols for assaying and sample handling that consist
of the systematic insertion of blanks, standards and duplicates as well as
using a secondary laboratory for regular check assaying. Samples for
Cebollati are placed in sealed bags and shipped directly to ACME Labs in
Santiago, Chile for sample preparation and gold fire assay with the pulps
subsequently sent to ACME Labs in Vancouver, Canada for ICP-MS analysis.
Samples for Trebol are submitted with blanks and industry certified standards
inserted in the field and prior to reception at B2Gold's Limon Mine prep lab.
Pulps are then analyzed at ALS labs in Vancouver, Canada. All results stated
in this announcement have passed B2Gold's QA/QC protocols.
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 or contact:
Ian MacLean
Vice President, Investor Relations
604-681-8371
|
Kerry Suffolk
Manager, Investor Relations
604-681-8371
|