B2Gold Corp. Announces Positive Stage One Exploration Drill
Results from the
Quebradona Property in Colombia
Vancouver, May 28, 2008 - B2Gold
Corp. (TSX-V: BTO, "B2Gold" or the "Company"), is pleased
to release the results from the first six holes of the initial 5,000 metre (m)
diamond drill program being carried out on the Quebradona property in Colombia,
a joint venture with AngloGold Ashanti Ltd ("AngloGold Ashanti").
These drill results confirm the good grade results from surface sampling and
trenching on the Aurora zone.
The initial 5,000 m program is focused on the
Aurora and Isabella zone systems, two of five gold bearing porphyry systems
outlined by surface sampling on the six by four kilometre (km) Quebradona
property. The Aurora system consists of two strong gold occurrences contained
within a suite of intermediate intrusive and volcanic rocks. Aurora covers an
800 by 700 m area and is comprised of the 700 by 350 m La Mama zone, and the
400 by 250 m La Isla zone separated by 200 m of low grade, late mineral
porphyry.
The initial six holes, totaling 1,662 m tested a
400 by 300 m area of the La Mama zone. The ore grade mineralization encountered
in all six holes is hosted by strong potassic-altered intermediate volcanic
rocks, diorite, and microdiorite with abundant magnetite-quartz veins and stock
working.
Highlights of the results from the first six drill holes are as follows:
Aurora Drill Holes 1 to 6
Assay Results
|
Location
|
Hole #
|
From
|
To
|
Metres (m)
|
Gold* (ppm)
|
Silver (ppm)
|
Copper (%)
|
|
La Mama
|
1
|
4.05
|
165.92
|
161.87
|
0.97
|
2.5
|
.154
|
|
La Mama
|
2**
|
0.00
|
52.70
|
52.70
|
1.36
|
2.1
|
.144
|
|
La Mama
|
3
|
0.00
|
86.15
|
86.15
|
0.99
|
2.1
|
.134
|
|
La Mama
|
incl.
|
0.00
|
32.90
|
32.90
|
1.67
|
2.6
|
.167
|
|
La Mama
|
4
|
0.70
|
87.00
|
86.30
|
2.08
|
2.6
|
.166
|
|
La Mama
|
5
|
0.00
|
65.80
|
65.80
|
0.94
|
2.5
|
.162
|
|
La Mama
|
6
|
6.10
|
235.00
|
228.90
|
0.80
|
2.0
|
.154
|
|
La Mama
|
incl.
|
29.00
|
154.00
|
125.00
|
1.07
|
2.0
|
.153
|
|
*1 ppm is equivalent to 1 gram per tonne.
**Lost hole at 52.70 m in mineralization.
A drill hole location map is available on the B2Gold website (www.b2gold.com).
|
An
additional eight holes have now been drilled on the Aurora zone (five on the La
Mama zone and three on the La Isla zone) totaling 2,368 m for a total of 14
holes and 4,030 m drilled. Several of these additional drill holes have
encountered similar stockwork mineralization encountered in the first six
holes. Assay results from these additional holes are pending, and will be
released as available.
Both
the La Mama and the La Isla zones remain open to the south, north, and to
depth. An aggressive stage two drill program is planned to further drill test
the Aurora zones and to begin exploration drilling on the other three porphyry
gold targets on the Quebradona property.
The
drilling program at the Quebradona property is reviewed and the results
approved by Tom Garagan, B2Gold's Qualified Person under NI 43-101. The
Quebradona drill program utilizes an extensive QAQC (quality assurance and
quality control) protocol for assaying and core sample handling that consists
of the systematic insertion of blanks, standards and duplicates as well as
using a secondary laboratory for regular check assaying. Core samples are cut
with a diamond saw with one-half of the core placed in sealed bags and shipped
directly to ALS Chemex Labs in Bogota, Colombia for sample preparation with the
pulps subsequently sent to ALS Chemex Labs in Lima, Peru for gold fire assay
and ICP analyses.
Further Colombian Exploration
B2Gold is also currently drilling at the
Gramalote property utilizing four drill rigs for a total of 25,000 m and plans
to commence a 3,000 m program at the Mocoa copper molybdenum project this
summer. B2Gold has a Colombian exploration budget of $21.8 million.
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:
The TSX Venture Exchange neither approves
nor disapproves the information contained in this News Release.
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.
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