B2Gold Corp.
Announces Further Positive Exploration Drill Results from La Libertad Mine
property
in Nicaragua
Increasing the Size of the Jabali Zones, and the Mojon West Deposit
Vancouver, September 15, 2011 - B2Gold Corp. (TSX: BTO, OTCQX: BGLPF)
("B2Gold" or the "Company"), is pleased to announce
further positive drilling results from the exploration and infill programs at
La Libertad Mine property in Nicaragua. These results indicate that the Jabali Zones that generated the previously announced
higher grade resources are increasing in size, and confirm the strong
continuity of gold mineralization at Jabali
Central. In addition, drilling has also continued to intersect strong gold
mineralization at Mojon West, the new zone
immediately west of the current Mojon open pit, and
outside of the current reserves and pit model. B2Gold is projected to produce
93,000 to 99,000 ounces of gold from La Libertad open pit mine in 2011.
The significance of the continued high grade results
from Jabali and the previously announced resource,
is that this represents substantially higher grade ore (4.58 grams per tonne ("g/t") of gold), than the current
average open pit grade at La Libertad of 1.8 g/t of gold, that can be trucked
to La Libertad mill for processing to make up a portion of the mill feed
resulting in higher annual gold production in the near term and going
forward.
Based on the positive results from Jabali to date, the Company has commenced full
permitting, environmental studies and metallurgical test work. The Company
plans to commence mining from Jabali, delivering
good grade colluvial material in late 2011 and open
pit mining by late 2012.
La Libertad Property Exploration
The 2011 exploration budget for La Libertad property
has been increased to US$8.75 million to further explore the 20 kilometre ("km") long La Libertad gold belt and
to drill the Jabali deposit to indicated resource
status. Based on the 2010 drilling, the Company previously announced a
resource at Jabali of 3.55 million tonnes at 4.58 g/t gold containing 522,000 ounces of
gold. Drilling in 2011 commenced on January 24 with 172 holes totaling 24,345
metres drilled to date. Five drill rigs are
currently on site and an additional drill rig is scheduled to arrive in
September. The objectives of this year's program include the completion of
the Jabali indicated resource (results expected to
be released in early 2012), infill drilling of the eastern and western
portions of San Juan to the indicated category and drilling to expand the
western margins of the Mojon and Crimea pits.
Jabali Vein System
The Jabali epithermal vein
system is currently being explored in two zones, the Antenna and Central
Zones, covering a combined strike length of 3.2 km, though the vein itself
has a known strike length of 6.2 km. To date (2010 & 2011) a total of 197
drill holes (28,362 metres) have been completed at Jabali. The current Jabali
drilling is focusing on the completion of the Central Zone indicated resource, Jabali Antenna
indicated resource drilling and continued exploration drilling.
Central Zone
The new results of Central Zone drilling show
excellent gold grade and vein thickness continuity as well as the potential
to expand the current resource. Highlights of the Central Zone drilling
include hole JB11-137, located in the centre of the deposit at the base of the current
resource, which intersected 5.5 metres true width
grading 19.52 g/t gold, including 3.0 metres true
width grading 34.63 g/t gold. This wide, high grade intersection lies on the
boundary of the current resource model at depth. JB11-121, also located
in the centre of the deposit, intersected 9.89 metres true width grading 4.33 g/t gold, including 2.04 metres true width grading 8.09 g/t. This wide, high grade
intersection is located 20 metres below the current
resource model and remains open down plunge.
Other notable holes include: JB11-101 with 14.2 metres true width grading 2.95 g/t gold, JB11-113 with
8.5 metres true width grading 4.37 g/t gold, JB11-122
with 12.5 metres true width grading 3.51 g/t gold,
JB11-125 with 11.5 metres true width grading 4.90
g/t gold, JB11-128 with 9.4 metres true width
grading 3.56 g/t gold, JB11-117 with 11.5 metres
true width grading 3.32 g/t gold, JB11-097 with 9.06 metres
true width grading 4.06 g/t gold & 216.72 g/t silver and JB11-116 with
6.5 metres true width grading 5.55 g/t gold. Hole
JB11-090 with 6.79 metres true width grading 4.04
g/t gold is located immediately west of and 30 metres
below the current resource, which is open to the west.
Hole JB11-098 was drilled 650 metres
west of the current Central Zone resource and intersected 4.34 metres true width grading 9.60 g/t gold. This hole
targeted the down plunge extension of JB11-060 which intersected 10.7 metres true width grading 2.00 g/t gold. The
mineralization is open down plunge. (See tables below for drill results
summary)..
Central Zone drilling results are highlighted below:
Drill Hole
|
From
(metres)
|
To
(metres)
|
Interval
(metres)
|
True Width
(metres)
|
Gold
(g/t)
|
Silver
(g/t)
|
JB11-087
|
15.66
|
26.31
|
10.65
|
8.00
|
3.79
|
11.26
|
JB11-088
|
123.62
|
139.70
|
16.08
|
15.00
|
1.24
|
24.01
|
JB11-089
|
46.57
|
53.84
|
7.27
|
5.10
|
5.46
|
103.00
|
JB11-090
|
98.51
|
112.18
|
13.67
|
6.79
|
4.04
|
19.76
|
JB11-093
|
47.24
|
56.39
|
9.15
|
5.34
|
2.21
|
7.87
|
JB11-094
|
75.93
|
81.45
|
5.52
|
4.95
|
4.18
|
31.72
|
JB11-095
|
192.02
|
201.67
|
9.65
|
6.80
|
1.33
|
20.10
|
JB11-096
|
2.27
|
6.10
|
3.83
|
2.31
|
6.32
|
3.91
|
JB11-097
|
16.76
|
28.96
|
12.20
|
9.06
|
4.06
|
216.72
|
JB11-098
|
183.00
|
188.40
|
5.40
|
4.34
|
9.60
|
19.14
|
JB11-099
|
51.34
|
60.96
|
9.62
|
7.79
|
2.91
|
14.52
|
JB11-101
|
23.56
|
41.15
|
17.59
|
14.20
|
2.95
|
17.74
|
JB11-102
|
140.71
|
161.24
|
20.53
|
8.52
|
2.56
|
13.59
|
JB11-104
|
41.15
|
52.02
|
10.87
|
8.30
|
2.38
|
17.43
|
JB11-105
|
6.10
|
16.76
|
10.66
|
7.90
|
1.93
|
20.81
|
JB11-106
|
189.55
|
194.75
|
5.20
|
4.12
|
0.86
|
12.04
|
JB11-108
|
99.56
|
107.54
|
7.98
|
6.50
|
3.63
|
20.95
|
Drill Hole
|
From
(metres)
|
To
(metres)
|
Interval
(metres)
|
True Width
(metres)
|
Gold
(g/t)
|
Silver
(g/t)
|
JB11-109
|
84.32
|
92.97
|
8.65
|
7.00
|
1.29
|
7.77
|
JB11-110
|
80.77
|
95.56
|
14.79
|
13.13
|
1.34
|
4.80
|
JB11-112
|
60.71
|
71.55
|
10.84
|
8.00
|
2.33
|
27.03
|
JB11-113
|
16.76
|
28.96
|
12.20
|
8.50
|
4.37
|
51.20
|
JB11-114
|
131.40
|
141.63
|
10.23
|
8.50
|
1.42
|
4.18
|
JB11-115
|
96.12
|
105.08
|
8.96
|
7.50
|
1.53
|
12.79
|
JB11-116
|
35.05
|
42.67
|
7.62
|
6.50
|
5.55
|
9.85
|
JB11-117
|
69.58
|
83.07
|
13.49
|
11.50
|
3.32
|
9.39
|
JB11-118
|
106.45
|
122.96
|
16.51
|
13.50
|
1.94
|
10.69
|
JB11-119
|
44.20
|
57.54
|
13.34
|
8.90
|
1.73
|
27.26
|
JB11-121
|
141.11
|
154.84
|
13.73
|
9.89
|
4.33
|
11.91
|
JB11-122
|
115.51
|
132.15
|
16.64
|
12.50
|
3.51
|
9.41
|
JB11-123
|
15.24
|
29.22
|
13.98
|
10.00
|
2.06
|
10.28
|
JB11-124
|
12.19
|
24.38
|
12.19
|
9.30
|
4.54
|
30.34
|
JB11-125
|
70.43
|
85.71
|
15.28
|
11.50
|
4.90
|
16.18
|
Includes
|
75.59
|
82.39
|
6.80
|
5.10
|
9.12
|
27.98
|
JB11-126
|
105.47
|
119.80
|
14.33
|
11.20
|
2.17
|
11.14
|
JB11-127
|
104.36
|
129.54
|
25.18
|
19.90
|
2.02
|
10.92
|
JB11-128
|
25.80
|
37.65
|
11.85
|
9.40
|
3.56
|
27.39
|
JB11-130
|
57.12
|
72.60
|
15.48
|
12.00
|
3.01
|
14.72
|
JB11-133
|
51.42
|
65.21
|
13.79
|
10.90
|
1.89
|
7.50
|
JB11-137
|
142.23
|
148.80
|
6.57
|
5.50
|
19.52
|
28.46
|
Includes
|
142.23
|
145.77
|
3.54
|
3.00
|
34.63
|
49.92
|
All of the intercepts are quoted as uncapped.
Mojon Vein
To date a total of 31 drill holes totaling (4,610 metres) have been completed at the Mojon
vein. Recent drilling has tested the area immediately west of the Mojon open pit. Highlights from this area which extends
250 metres west of the current Mojon
open pit west wall include: MJ1-023 with 32.4 metres
true width grading 1.39 g/t gold including 13.5 metres
true width grading 2.19 g/t gold, MJ11-025 with 22.0 metres
true width grading 1.62 g/t gold and MJ11-027 with 7.5 metres
true width grading 2.17 g/t gold.
Additional drilling is planned to evaluate the
potential of this area with the intention to define an indicated resource
immediately west of the current Mojon open pit,
that could significantly increase the Mojon pit
mine life.
Highlights of the Mojon
drill intercepts:
Drill Hole
|
From
(metres)
|
To
(metres)
|
Interval
(metres)
|
True Width
(metres)
|
Gold
(g/t)
|
Silver
(g/t)
|
MJ11-023
|
34.50
|
70.90
|
36.40
|
32.40
|
1.39
|
3.50
|
Includes
|
34.50
|
50.40
|
15.90
|
13.50
|
2.19
|
4.64
|
MJ11-025
|
58.40
|
89.00
|
30.60
|
22.00
|
1.62
|
3.63
|
MJ11-027
|
117.45
|
127.00
|
9.55
|
7.50
|
2.17
|
4.66
|
MJ11-030
|
93.00
|
103.50
|
10.50
|
7.00
|
1.60
|
4.83
|
All of the intercepts are quoted as uncapped.
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.
Core samples are cut with a diamond saw and then are brought to the Mine
preparation laboratories where they are dried, crushed and pulverized.
Samples from the La Libertad project (after preparation at the Mine) are sent
directly to ALS Chemex Labs in Vancouver, British
Columbia, Canada for gold and silver fire assay. Check assays are sent out on
a quarterly basis to Skyline Laboratories in Tuscon,
AZ.