B2Gold Corp. has revealed an initial inferred mineral resource estimate for the Springbok Zone at its Otjikoto Mine in Namibia of 390,000 ounces of gold.
“The mineral resource estimate for the Springbok Zone, which forms the basis for a potential PEA, includes inferred mineral resources of 1.75 million tonnes grading 6.91 grams per tonne gold, totaling 390,000 ounces,” B2Gold Corp. President and CEO, Clive Johnson said.
Located approximately three kilometers south of the Otjikoto Phase 5 open pit, the Springbok Zone represents the southern extension of the recently discovered Antelope deposit.
Johnson said potential mining operations could commence by 2026, contingent upon a positive Preliminary Economic Assessment (PEA) and regulatory approvals.
He said ongoing exploration in adjacent areas and targeted drilling initiatives are expected to enhance the project’s growth prospects.
Exploration efforts in 2024 included drilling over 36,000 meters into the Springbok Zone, with 33 holes totaling 16,950 meters completed to establish a 50 x 50-meter spacing for this initial estimate.
Further exploration drilling in the Oryx Zone, located northeast and stratigraphically above the Springbok Zone, has shown promising results with high-grade intervals, potentially increasing the Mineral Resource estimate.
Johnson noted that the Springbok Zone could complement the processing of low-grade stockpiles at the Otjikoto Mine until 2031, aiming to raise annual gold production to over 100,000 ounces from 2026 to 2031.
Meanwhile, B2Gold allocated a US$9 million exploration budget for Namibia in 2024, funding the largest drill program at the Otjikoto Mine since the Wolfshag discovery in 2012.
The program is set to drill a total of 39,000 meters with five active rigs currently deployed.
“Exploration has intersected mineralization from the Antelope deposit over a combined strike length of approximately 1,500 meters,” Johnson said.
Plans for drilling in the untested zone between the Oryx Zone and the southernmost known mineralization in Phase 5 of the Otjikoto Mine open pit are scheduled for the latter half of 2024.
The Antelope deposit was discovered in 2022, following deep drill testing on three-dimensional models of magnetic inversion data.
B2Gold Namibia is a 90% owned subsidiary of B2Gold Corp, with the remaining 10% owned by EVI Mining Company Limited, a Namibian broad-based economic empowerment group.- miningandenergy.com.na
