The Mocoa property is located approximately 465 kilometres southwest of the Colombian capital of Bogota and 10 kilometres north of the town of Mocoa, an agricultural centre and the capital of Department of Putumayo.
B2Gold acquired a 100% interest in the Mocoa copper (Cu)-molybdenum (Mo) porphyry deposit located in the south of Colombia from AngloGold Ashanti.
The Mocoa property consists of four contract claims totaling 7,830.66 hectares (“ha”) and two claim applications totaling 3,960.73 ha. Mocoa lies within a belt of Early to Mid-Jurassic magmatic rocks known to host several porphyry copper prospects in southern Colombia and Ecuador. Copper and molybdenum mineralization is hosted by a potassic- and phyllic-altered dacite porphyry stock emplaced into cogenetic volcanic rocks. Mineralization consists of vein and stockwork chalcopyrite, molybdenite and local bornite and high grade hydrothermal breccias. Mocoa is a molybdenum-rich copper porphyry with molybdenum grades averaging around 0.06%.
Previous diamond drilling at the Mocoa property consisted of 18,321 metres in 31 holes conducted by the United Nations and Ingeominas in the late 1970′s to early 1980′s. This drill program resulted in the delineation of a non-National Instrument 43-101 compliant historical resource of 306 million tonnes at 0.37% Cu and 0.061% Mo, using a 0.25% Cu plus 0.025% Mo cut-off and a specific gravity of 2.7. Historical drilling has shown the Mocoa orebody to be cylindrical in shape, covering 500 by 600 m in area and extending to a depth of at least 700 m and open to the northeast.
In 2008, B2Gold completed a total of 5,122.69 m in nine diamond drill holes on the Mocoa property. Drilling was carried out over an 875 by 550 m area and tested the extensions of the deposit to the north and northeast as well as to confirm previous drilling results with twin holes.
Assay results from the 2008 drill program confirmed the results from the Ingeominas drilling with the B2Gold holes containing slightly higher Cu and Mo values.
Five holes totaling 2,706 m tested the northeast and northern extensions of the deposit. Drilling has shown encouraging Cu-Mo values at depth and shows the deposit to be open to the north and northeast.
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