B2Gold has approved an initial budget of up to US$10 million (N$187 million) for 2025 to advance the development of the Antelope deposit near its Otjikoto Mine in Namibia.
B2Gold sees strong potential in the Antelope deposit following positive results from a preliminary economic assessment (PEA).
The company believes the deposit could support a small-scale, low-cost underground gold mine that would supplement Otjikoto’s low-grade stockpile production between 2028 and 2032, ensuring a meaningful production profile for the mine into the next decade.
According to B2Gold, the funds will be used to de-risk the project by expediting early-stage planning, securing project permits, and placing long-lead orders.
“Technical work, including geotechnical, hydrogeological, and metallurgical testing, is anticipated to be completed over the next several months. Cost and schedule assumptions will continue to be refined by working with suppliers and contractors, including running a competitive bid process for the development phase of the Antelope deposit,” the Canadian gold miner said.
As part of a US$7 million (N$131 million) exploration budget for 2025, B2Gold said it will continue drilling activities at the Antelope deposit to confirm and expand the mineral resource. Drilling will include closely spaced holes to verify the deposit’s continuity and wider spaced holes to explore extensions to the north and south.
A total of 44,000 meters of drilling is planned, including 2,500 meters of selective infill drilling at the Springbok Zone to enhance the understanding of high-grade mineralization continuity.
The Antelope deposit, located approximately four kilometers southwest of the existing Otjikoto open pit, consists of the Springbok Zone, the Oryx Zone, and a potential third structure, Impala, pending confirmatory drilling.
B2Gold noted that the 2025 drilling campaign aims to expand the deposit’s footprint beyond the Springbok Zone and establish links between the Oryx Zone and high-grade mineralization identified about one kilometer south of the Otjikoto Phase 5 open pit.
Headquartered in Vancouver, Canada, B2Gold operates gold mines in Mali, Namibia, and the Philippines, with additional development and exploration projects in Mali, Colombia, and Finland. The company is also constructing the Goose Project in northern Canada. B2Gold forecasts total consolidated gold production of between 970,000 and 1,075,000 ounces in 2025.
