The Conversation (0)
B2Gold said the inferred resource includes data from a total of 165 drill holes and extends the Toega zone by 1,200 meters along strike.
B2Gold (TSX:BTO,NYSEAMERICAN:BTG) shares rose 0.55 percent on Thursday (February 22) after the release of an inferred resource estimate for its Toega project in Burkina Faso.
The inferred resource stands at 17,530,000 tonnes grading 2.01 grams per tonne, for a total of 1,130,000 ounces of gold. It includes data from 165 drill holes, and extends the Toega zone by 1,200 meters along strike; the zone measures 430 meters wide and up to 400 meters deep.
B2Gold says the zone remains open along strike to the north-northeast and down dip, and notes that recent drilling has intersected good grades in a potential new mineralized zone. Drilling in the the Toega zone and this new zone continues.
Toega has the potential to be an open-pittable deposit, and the inferred resource was reported within a pit shell run using a gold price of $1,400 per ounce. B2Gold estimates an average gold recovery rate of 86.2 percent based on preliminary metallurgical testwork.
The company says costs used for pit generation stand at US$2.50 per tonne mined, while processing costs are US$10 per tonne and G&A costs sit at US$2.10 per tonne processed.
The firm initially said Toega’s inferred resource would be released at the end of January as part of a discussion of the company’s outlook for 2018.
Its 2018 exploration budget for Burkina Faso is $9.1 million, which will be directed at the Toega prospect and the Kiaka Regional District. The firm notes that it has planned 14,500 meters of diamond drilling for its targets in Burkina Faso, along with 29,000 meters RC drilling and 28,000 meters of combined planned aircore and auger drilling.
B2Gold was founded in 2007 and has five operating gold mines plus a portfolio of exploration projects in various countries. 2018 will mark the first year of full production from its Fekola mine, which is forecast to produce between 910,000 and 950,000 ounces of gold.
Don’t forget to follow us @INN_Resource for real-time news updates!
Securities Disclosure: I, Melissa Shaw, hold no direct investment interest in any company mentioned in this article.
