Projects

Otjikoto Mine & Ondundu JV Project – Namibia

The total exploration budget for Namibia in 2017 is $5.1 million, mainly for 5,000 metres of diamond drilling on the Otjikoto licence area and 12,000 metres of diamond drilling and 5,000 metres of RAB drilling on the Ondundu joint venture project. An additional 5,000 metres of diamond and RC drilling are committed to new targets in and around the Otjikoto area.

Click here for details on the Otjikoto "Production" section.

Otjikoto Mine – Exploration Plan Map:

2016 Wolfshag Reserve & Resources

Otjikoto Mine – Mineral Reserve and Mineral Resource Estimates:

Mineral Resource estimates for the Otjikoto Mine are reported from B2Gold’s Mineral Resource model dated December 2015. Models have been depleted to December 31, 2016 topography. The effective date of the Mineral Resources is December 31, 2016. No Measured Mineral Resources were estimated.

Otjikoto Indicated Mineral Resources Statement


Area
Tonnes
(t)
Gold Grade
(g/t Au)
Contained Gold Ounces
(oz)
Contained Gold Kilograms
(kg)
Otjikoto
22,900,000
1.14
839,000
26,100
Wolfshag
3,300,000
2.85
303,000
9,400
ROM Stockpile
1,480,000
1.00
48,000
1,500
LG Stockpile
2,720,000
0.46
40,000
1,200
Total
30,410,000
1.26
1,230,000
38,200

Otjikoto Inferred Mineral Resources Statement


Area
Tonnes
(t)
Gold Grade
(g/t Au)
Contained Gold Ounces
(oz)
Contained Gold Kilograms
(kg)
Otjikoto Open Pit
150,000
0.70
3,000
100
Wolfshag Open Pit
260,000
0.68
6,000
200
Wolfshag Underground
1,300,000
6.92
290,000
9,000
Total
1,720,000
5.42
299,000
9,300
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 90% attributable basis; the remaining 10% interest is held by EVI
  4. The Qualified Person for the estimate is Tom Garagan, P.Geo., who is our Senior Vice President, Exploration
  5. Mineral Resource estimates that are amenable to open pit mining methods assume a gold price of US$1,400/oz, metallurgical recovery of 98%, and operating cost estimates of US$1.75/t mined (mining), US$13.00/t processed (processing) and US$3.00/t processed (general and administrative)
  6. Mineral Resources that are amenable to open pit mining are reported at a cutoff of 0.40g/t Au. Mineral Resources that are amenable to underground mining are reported at cutoff of 3.00 g/t Au

Mineral Reserve estimates for the Otjikoto Mine are reported from B2Gold’s 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)
Otjikoto
15,580,000
1.24
622,000
19,400
Wolfshag
3,350,000
2.56
276,000
8,600
ROM Stockpile
1,480,000
1.00
48,000
1,500
LG Stockpile
2,720,000
0.46
40,000
1,200
Total
23,140,000
1.33
986,000
30,700
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 90% attributable basis; the remaining 10% interest is held by EVI
  4. The Qualified Person for the estimate is Peter Montano, P.E., who is our Project Director
  5. Mineral Reserves that will be mined by open pit methods assume a gold price of US$1,250/oz, metallurgical recovery of 98%, and operating cost estimates of US$1.75/t mined (mining), US$13.00/t processed (processing) and US$3.00/t processed (general and administrative).
  6. Dilution and ore loss was applied through block averaging such that at a cutoff of 0.45 g/t Au, there is a 1% decrease in tonnes, a 4% reduction in grade and 5% reduction in ounces when compared to the Mineral Resource model
  7. Mineral Reserves are reported at a cutoff of 0.45 g/t Au

Note: For more details on B2Gold’s Otjikoto Mine and Ondundu JV Project, 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).

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