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 metre 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)
|
Trench
|
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
|
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"
President and Chief
Executive Officer
For more information on B2Gold please visit the
Company web site at www.b2gold.com or contact: