B2Gold Corp. Announces a New Gold Discovery
at the Gramalote Property in Colombia
Vancouver, September 4, 2008 - B2Gold Corp. (TSX-V: BTO, "B2Gold" or the "Company"), is pleased to announce it has made a significant new gold discovery at the Trinidad zone on the Gramalote property in Colombia. Drill results include up to 1.13 grams per tonne ("g/t") gold ("Au") over 109.4 metres ("m") in hole 2, and 1.24 g/t Au over 101.85 m in hole 4. The Gramalote project is a 51%-49% B2Gold-AngloGold Ashanti Ltd ("AngloGold Ashanti") joint venture with B2Gold as the operator.
The Trinidad zone is located west of the Gramalote deposit along the highway from Medellin to Puerto Berrio, near the town of Providencia. The mineralization at the Trinidad zone is similar to Gramalote in size, orientation, vein mineralization and hydrothermal alteration. The zone was discovered with trenching and follow-up drilling on soil geochemical anomalies.
To date, 17 drill holes totaling more than 6,100 m have tested a 1,000 by 500 m area of the Trinidad zone to a maximum vertical depth below surface of 390 m. This initial phase of drilling has outlined an east-west trending zone of gold mineralization hosted in potassic, sericite-carbonate and quartz-sericite altered tonalite with quartz-pyrite veining similar to the nearby Gramalote deposit. The Trinidad zone is open along strike to the west as well as down dip. Drilling to define the size of the Trinidad zone is ongoing.
Highlights of the results, with gold uncapped and capped at 6 g/t, from the first 12 drill holes at Trinidad are as follows:
Hole |
From (m) |
To (m) |
Length (m) |
Gold (g/t) |
Gold Capped (g/t) |
Silver (g/t) |
Comments |
TR08-001 |
108.00 |
141.70 |
33.70 |
0.75 |
0.38 |
0.41 |
TR08-001 is outside of the Trinidad zone |
TR08-002 |
0.00 |
301.62 |
301.62 |
0.70 |
0.68 |
0.44 |
|
Includes |
119.90 |
229.30 |
109.40 |
1.13 |
1.08 |
0.66 |
|
TR08-003 |
3.62 |
31.00 |
27.38 |
0.76 |
0.76 |
3.07 |
|
TR08-004 |
0.00 |
101.85 |
101.85 |
1.24 |
1.21 |
6.74 |
|
TR08-005 |
|
|
|
|
|
|
TR08-005 is outside of the Trinidad zone. No significant results |
TR08-006 |
0.00 |
426.90 |
426.90 |
0.65 |
0.64 |
0.52 |
|
Includes |
0.00 |
223.40 |
223.40 |
1.00 |
0.99 |
0.70 |
Drilled oblique to zone |
TR08-007 |
30.40 |
55.71 |
25.31 |
0.55 |
0.55 |
1.00 |
|
plus |
121.80 |
152.81 |
31.01 |
0.84 |
0.84 |
0.53 |
|
plus |
310.70 |
390.70 |
80.00 |
0.41 |
0.41 |
0.38 |
|
TR08-008 |
2.40 |
26.25 |
23.85 |
0.93 |
0.93 |
0.59 |
TR08-008 is outside of the Trinidad zone |
TR08-009 |
9.80 |
20.85 |
11.05 |
|
|
|
Assays pending |
plus |
119.60 |
161.24 |
41.64 |
0.73 |
0.72 |
0.46 |
|
plus |
308.12 |
363.10 |
54.98 |
0.50 |
0.50 |
0.42 |
|
TR08-010 |
384.00 |
407.40 |
23.40 |
1.00 |
1.00 |
1.13 |
|
TR08-011 |
25.00 |
123.80 |
98.80 |
0.51 |
0.51 |
0.53 |
|
Includes |
93.60 |
112.50 |
18.90 |
1.06 |
1.04 |
0.85 |
|
TR08-011 |
158.53 |
212.00 |
53.47 |
0.78 |
0.78 |
0.32 |
|
TR08-012 |
147.00 |
178.30 |
31.30 |
0.51 |
0.44 |
0.64 |
|
TR08-012 |
227.00 |
271.00 |
44.00 |
|
|
|
Assays pending |
TR08-012 |
444.50 |
469.70 |
25.20 |
0.45 |
0.45 |
0.31 |
|
B2Gold has drilled more than 20,000 m of the 25,000 m 2008 Gramalote property diamond drill program. Most of this work has focused on ongoing resource definition drilling at Gramalote Ridge (14,000 m to date) over a 900 by 450 m area at the intrusion-hosted, structurally-controlled, bulk-tonnage Gramalote gold deposit. B2Gold plans to complete a resource on the Gramalote deposit by the end of 2008. AngloGold Ashanti had previously drilled 12,300 m in 43 holes at Gramalote Ridge.
The drilling program at the Gramalote deposit and Trinidad zone has been reviewed and the results approved by Tom Garagan, B2Gold's Qualified Person under NI 43-101. The Gramalote and Trinidad drill programs utilize 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 two-thirds 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.
On Behalf of B2GOLD CORP.
"Clive T. Johnson"
President and Chief Executive Officer
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.