Projects

Masbate Mine – The Philippines

The Masbate exploration budget for 2017 is approximately $5 million including 27,000 meters of drilling. The drilling is divided into brownfields drilling to upgrade resources within the mine licence area, totalling 16,000 metres of diamond drilling, and another 11,000 metres on regional targets.

Click here for details on the Masbate “Production” section.

Priority Exploration Targets – New Significant Drill Results:

Priority Exploration Targets: New Significant Drill Results

 

Mineral Reserve and Mineral Resource Estimates:

Mineral Resource estimates for the Masbate Gold Project are reported from B2Gold’s Mineral Resource model that has an effective date of December 31, 2016. No Measured Mineral Resources were estimated.

Masbate Indicated Mineral Resources Statement


Area
Tonnes
(t)
Gold Grade
(g/t Au)
Contained Gold Ounces
(oz)
Contained Gold Kilograms
(kg)
South
72,850,000
0.97
2,281,000
71,000
North
24,800,000
1.00
796,000
24,800
ROM Stockpile
1,370,000
1.42
63,000
1,900
LG Stockpile
27,790,000
0.57
509,000
15,800
Total
126,820,000
0.89
3,649,000
113,500

Masbate Inferred Mineral Resources Statement


Area
Tonnes
(t)
Gold Grade
(g/t Au)
Contained Gold Ounces
(oz)
Contained Gold Kilograms
(kg)
South
6,730,000
0.73
157,000
4,900
North
3,360,000
0.77
83,000
2,600
Total
10,100,000
0.74
240,000
7,500
Footnotes (Click to expand)
  1. Mineral Resources have been classified using the 2014 CIM Definition Standards for Mineral Resources and Mineral Reserves. Mineral Resources are reported inclusive of those Mineral Resources that have been modified to Mineral Reserves. Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability
  2. All tonnage, grade and contained metal content estimates have been rounded; rounding may result in apparent summation differences between tonnes, grade, and contained metal content
  3. Mineral Resources are reported on a 100% attributable basis. Pursuant to the ore sales and purchase agreement between Filminera and PGPRC, our wholly-owned subsidiary, PGPRC has the right to purchase all ore from the Masbate Gold Project
  4. The Qualified Person for the estimate is Tom Garagan, P.Geo., who is our Senior Vice President, Exploration
  5. Mineral Resource estimates assume an open pit mining method, gold price of US$1,400/oz, modeled metallurgical recovery (resulting in average LOM metallurgical recoveries by pit that range from 65% to 82%), and operating cost estimates of US$1.50/t mined (mining), a variable ore differential cost by pit (average cost is US$0.17), US$9.36-10.18/t processed (processing) and US$2.30-3.84/t processed (general and administrative)
  6. Mineral Resources are reported at an average cutoff of 0.42 g/t Au
  7. North and South designations refer to locations north and south of the Guinobatan River, respectively

Mineral Reserve estimates for the Masbate Gold Project are reported from our Mineral Resource model that has an effective date of December 31, 2016, and have been modified from the Indicated Mineral Resources. No Proven Mineral Reserves have been reported.

Probable Mineral Reserves Statement


Area
Tonnes
(t)
Gold Grade
(g/t Au)
Contained Gold Ounces
(oz)
Contained Gold Kilograms
(kg)
South
48,160,000
0.98
1,519,000
47,200
North
17,950,000
1.03
593,000
18,400
ROM Stockpile
1,370,000
1.42
63,000
1,900
LG Stockpile
27,790,000
0.57
509,000
15,800
Total
95,290,000
0.88
2,683,000
83,500
Footnotes (Click to expand)
  1. Mineral Reserves have been classified using the 2014 CIM Definition Standards for Mineral Resources and Mineral Reserves
  2. All tonnage, grade and contained metal content estimates have been rounded; rounding may result in apparent summation differences between tonnes, grade, and contained metal content
  3. Mineral Reserves are reported on a 100% attributable basis. Pursuant to the ore sales and purchase agreement between Filminera and PGPRC, our wholly-owned subsidiary, PGPRC has the right to purchase all ore from the Masbate Gold Project
  4. The Qualified Person for the estimate is Kevin Pemberton, P.E., who is our Chief Mine Planning Engineer
  5. Mineral Reserve estimates assume an open pit mining method, gold price of US$1,250/oz, modeled metallurgical recovery (resulting in average LOM metallurgical recoveries by pit that range from 65% to 82%), and operating cost estimates of US$1.50/t mined (mining), a variable ore differential cost by pit (average cost is US$0.17), US$9.36-10.18/t processed (processing) and US$2.30-3.84/t processed (general and administrative)
  6. Dilution and ore loss were applied through block averaging such that at a cutoff of 0.45 g/t Au, there is a 5% increase in tonnes, a 6% reduction in grade and 1% reduction in ounces when compared to the Mineral Resource model
  7. Mineral Reserves are reported at cutoffs that range from 0.46-0.49 g/t Au
  8. North and South designations refer to locations north and south of the Guinobatan River, respectively

Note: For more details on B2Gold’s Masbate Mine, click here for the Company’s Annual Information Form 2017 and click here for the Company's Management’s Discussion and Analysis (these are also available on SEDAR at www.sedar.com and on the U.S. Securities and Exchange Commission’s website at www.sec.gov).

Stay Connected

Stay connected with B2Gold by signing up for email updates