SYS-CON MEDIA Authors: Sean Houghton, Glenn Rossman, Ignacio M. Llorente, Xenia von Wedel, Peter Silva

News Feed Item

B2Gold Corp. Announces Positive Exploration Drill Results from the Otjikoto Gold Project in Namibia

VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 12/11/12 -- B2Gold Corp. (TSX:BTO)(OTCQX:BGLPF)(PINKSHEETS:BGLPF)(NSX:B2G) ("B2Gold" or the "Company") is pleased to announce positive drilling results from the exploration programs at the Otjikoto Gold Project in Namibia. Of note, diamond drill hole number OTG25D returned 19.81 metres grading 15.00 grams per tonne ("g/t") gold, including 10.03 metres at 21.60 g/t gold from the recently discovered Wolfshag zone.

Otjikoto Gold Project, Namibia (B2Gold 92% / EVI Gold (Pty) Ltd 8%)

The Otjikoto gold project is located approximately 300 kilometres north of Windhoek, the capital of Namibia. B2Gold recently announced the receipt of a mining licence from the Namibian Ministry of Mines and Energy for the Otjikoto project (see news release dated December 05, 2012) and is nearing completion of the final feasibility study. Mine construction will commence in the first quarter of 2013 with gold production scheduled to commence in the fourth quarter of 2014.

The Otjikoto gold project has forecast average annual production of over 100,000 ounces of gold over a ten year mine life based on a Preliminary Economic Assessment released by Auryx Gold Corp. in September 2011. The B2Gold feasibility study that is nearing completion is expected to recommend a production Base Case that outlines significantly higher projected annual gold production in the first 5 years of the mine life based on the current resource.

The main Otjikoto deposit has an in-pit indicated mineral resource of 24.93 million tonnes at a grade of 1.74 "g/t" gold containing 1,392,690 ounces of gold on a 100% basis using a cut-off grade of 0.4 g/t gold (see news release dated April 5, 2012). The Otjikoto exploration budget for 2012 is US$8.9 million.

A total of 178 holes totalling 23,574 metres have been drilled on the Otjikoto Project this year. Of the 178 holes, 142 holes totalling 17,379 metres were drilled for Feasibility studies and the remainder for exploration. Feasibility drilling included 58 holes for condemnation of proposed infrastructure sites, 38 holes for collection of metallurgical test samples, 17 holes for geotechnical studies and the remainder as infill drilling and for geostatistical studies. There are currently three diamond core rigs active on the project with two rigs drilling at Otjikoto and a third rig drilling on regional exploration targets.

Exploration drilling in the Otjikoto area has principally focused on the exciting new Wolfshag zone (named after the Wolfshag Farm), previously announced as the K2 zone discovery by Auryx Gold (see Auryx Gold news release dated November 23, 2011) prior to B2Gold completing a Business Combination with Auryx Gold in December 2011. The zone is situated immediately to the northeast of the proposed open pit on the main Otjikoto deposit. The Wolfshag zone has been intersected for an additional 550 metres and now has a known minimum strike length of 950 metres. The mineralized shoot plunges at approximately 15 degrees to the south-southwest and remains open at depth. Significant new results from the Wolfshag zone drilling include:


--  OTG25D with 19.81 metres grading 15.00 g/t gold, including 10.03 metres
    at 21.60 g/t gold; 
--  WH31 with 16.00 metres grading 7.45 g/t gold; 
--  WH12-061 with 18.0 metres grading 5.90 g/t gold; and 
--  WH38 with 19.00 metres grading 1.88 g/t gold. 

The Wolfshag zone consists of a series of sheeted and tension gash fill pyrite-magnetite-calcite veins hosted within intense albite-carbonate + clay altered schists between folded coarse grained marbles. The zone is situated below the Main Otjikoto deposit and associated OTB marble marker horizon. The upper, high grade, western portion of the zone appears to be shallow easterly dipping and ranges in width from 50 to 75 metres and thickness from 6 to 31 metres. The eastern portion of the zone appears to have a steep eastward dip with the overall Wolfshag zone having an apparent sigmoidal shape. Drilling to date has been widely spaced with 100 to 200 metres drill section spacing and 25 to 50 metre drill hole spacing on section. More detailed drilling will be required to fully define the zone geometry.

The Wolfshag zone extends up dip to under the calcrete cover to the north and represents a potential near surface target. Given the high grades and significant thicknesses of mineralization there is potential for the southern portion of the zone to be exploited by underground mining. B2Gold management is excited about the potential of the Wolfshag zone and plans an aggressive exploration program in 2013 to further explore the zone and to provide definition to allow for an initial resource estimation. These results confirm our view that the Otjikoto property has the potential to yield significant additional gold resources.

A summary of the Wolfshag zone results to date are tabulated below:


---------------------------------------------------------------------------
                                                                   Gold g/t
                                                                    (cut to
           Section Station           FROM       TO   LENGTH    Gold  45 g/t
HoleID          (N)     (E)       (metres) (metres) (metres)   (g/t)   Gold)
---------------------------------------------------------------------------
OTG25D        7800    5050         287.74   307.55    19.81   15.00   14.91
---------------------------------------------------------------------------
OTG25D        7800    5050  incl.  289.74   299.77    10.03   21.60   21.41
---------------------------------------------------------------------------
OTG17D        7900    4975         279.00   280.00     1.00    3.39    3.39
---------------------------------------------------------------------------
OTG10D(i)     7900    5025         256.00   276.00    20.00    7.55    7.55
---------------------------------------------------------------------------
OTG18D(i)     7900    5075         279.00   285.00     6.00    1.73    1.73
---------------------------------------------------------------------------
OTG18D        7900    5075   and   312.00   320.00     8.00    1.83    1.83
---------------------------------------------------------------------------
OTG18D(i)     7900    5075   and   337.00   344.00     7.00    1.58    1.58
---------------------------------------------------------------------------
OTG23D        7900    5475         372.00   380.00     8.00    4.06    4.05
---------------------------------------------------------------------------
OTG23D        7900    5475  incl.  372.00   374.00     2.00   11.93   11.93
---------------------------------------------------------------------------
WH31          8100    4950         194.00   224.00    30.00    4.29    4.29
---------------------------------------------------------------------------
WH31          8100    4950  incl.  194.00   210.00    16.00    7.45    7.45
---------------------------------------------------------------------------
WH30          8100    5000         243.00   257.00    14.00    1.95    1.95
---------------------------------------------------------------------------
WH30          8100    5000   and   269.00   276.00     7.00    1.91    1.91
---------------------------------------------------------------------------
WH32          8100    5050         265.00   266.00     1.00    6.39    6.39
---------------------------------------------------------------------------
WH12-061      8300    4875         134.00   165.00    31.00    3.68    3.68
---------------------------------------------------------------------------
WH12-061      8300    4875  incl.  136.00   154.00    18.00    5.90    5.90
---------------------------------------------------------------------------
WH26          8300    4900         140.00   162.00    22.00    2.48    2.48
---------------------------------------------------------------------------
WH26          8300    4900  incl.  145.00   157.00    12.00    3.54    3.54
---------------------------------------------------------------------------
WH26          8300    4900   and   171.00   174.00     3.00    1.92    1.92
---------------------------------------------------------------------------
WH25(i)       8300    4925         189.00   200.00    11.00    3.95    3.95
---------------------------------------------------------------------------
WH20(i)       8300    4950         197.00   206.00     9.00    2.34    2.34
---------------------------------------------------------------------------
WH38          8500    4850          51.00    52.00     1.00    2.74    2.74
---------------------------------------------------------------------------
WH38          8500    4850   and    79.00    98.00    19.00    1.88    1.88
---------------------------------------------------------------------------
WH33          8500    4900         115.00   116.00     1.00    4.46    4.46
---------------------------------------------------------------------------
WH33          8500    4900   and   130.00   139.00     9.00    1.07    1.07
---------------------------------------------------------------------------
WH35          8500    5000         131.00   133.00     2.00    3.27    3.27
---------------------------------------------------------------------------
WH35          8500    5000   and   264.00   265.00     1.00    3.35    3.35
---------------------------------------------------------------------------
WH44          8500    5050         147.00   150.00     3.00    3.64    3.64
---------------------------------------------------------------------------
WH45          8700    4800          19.00    22.00     3.00    1.55    1.55
---------------------------------------------------------------------------
WH45          8700    4800   and    36.00    44.00     8.00    1.18    1.18
---------------------------------------------------------------------------
WH45          8700    4800   and    95.00   101.00     6.00    2.91    2.91
---------------------------------------------------------------------------
WH45          8700    4800  incl.   96.00    99.00     3.00    5.36    5.36
---------------------------------------------------------------------------
WH41          8700    5000          80.00    82.00     2.00   28.23   26.08
---------------------------------------------------------------------------

(i) Previously released (See Auryx Gold News Release Nov. 23, 2011)
Insufficient drilling to date to define true widths of all intersections.

Exploration drilling is ongoing. Further results will be released as they are available.

B2Gold's Quality Assurance / Quality Control

Quality assurance and quality control procedures include the systematic insertion of blanks, standards and duplicates into the rock sample strings. The primary laboratory for Otjikoto is ALS Minerals in Vancouver where samples are analysed by fire assay / gravimetric finish using one assay tonne. Samples are prepared at Intertek Genalysis, Walvis Bay. Bureau Vertitas, Swakopmund, Namibia, is the umpire laboratory. All results stated in this announcement have passed B2Gold's quality assurance and quality control ("QA/QC") protocols. Tom Garagan is the Qualified Person as defined under National Instrument 43-101.

ON BEHALF OF B2GOLD CORP.

Tom Garagan, Senior Vice President of Exploration

For more information on B2Gold please visit the Company web site at www.b2gold.com.

The securities described herein have not been and will not be registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements.

Some of the statements contained in this release are forward-looking statements, such as estimates and statements that describe the Company's future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Since forward-looking statements address future events and conditions, by their very nature, they involve inherent risks and uncertainties. Actual results in each case could differ materially from those currently anticipated in such statements.

The Toronto Stock Exchange neither approves nor disapproves the information contained in this news release.

Contacts:
B2Gold Corp.
Ian MacLean
Vice President, Investor Relations
604-681-8371

B2Gold Corp.
Kerry Suffolk
Manager, Investor Relations
604-681-8371
www.b2gold.com

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

Latest Stories
The BPM world is going through some evolution or changes where traditional business process management solutions really have nowhere to go in terms of development of the road map. In this demo at 15th Cloud Expo, Kyle Hansen, Director of Professional Services at AgilePoint, shows AgilePoint’s unique approach to dealing with this market circumstance by developing a rapid application composition or development framework.
"Our premise is Docker is not enough. That's not a bad thing - we actually love Docker. At ActiveState all our products are based on open source technology and Docker is an up-and-coming piece of open source technology," explained Bart Copeland, President & CEO of ActiveState Software, in this SYS-CON.tv interview at DevOps Summit at Cloud Expo®, held Nov 4-6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.
The Internet of Things is not new. Historically, smart businesses have used its basic concept of leveraging data to drive better decision making and have capitalized on those insights to realize additional revenue opportunities. So, what has changed to make the Internet of Things one of the hottest topics in tech? In his session at @ThingsExpo, Chris Gray, Director, Embedded and Internet of Things, discussed the underlying factors that are driving the economics of intelligent systems. Discover ...
SYS-CON Events announced today that Windstream, a leading provider of advanced network and cloud communications, has been named “Silver Sponsor” of SYS-CON's 16th International Cloud Expo®, which will take place on June 9–11, 2015, at the Javits Center in New York, NY. Windstream (Nasdaq: WIN), a FORTUNE 500 and S&P 500 company, is a leading provider of advanced network communications, including cloud computing and managed services, to businesses nationwide. The company also offers broadband, p...
SYS-CON Media announced today that Aruna Ravichandran, VP of Marketing, Application Performance Management and DevOps at CA Technologies, has joined DevOps Journal’s authors. DevOps Journal is focused on this critical enterprise IT topic in the world of cloud computing. DevOps Journal brings valuable information to DevOps professionals who are transforming the way enterprise IT is done. Aruna's inaugural article "Four Essential Cultural Hacks for DevOps Newbies" discusses how to demonstrate the...
The move in recent years to cloud computing services and architectures has added significant pace to the application development and deployment environment. When enterprise IT can spin up large computing instances in just minutes, developers can also design and deploy in small time frames that were unimaginable a few years ago. The consequent move toward lean, agile, and fast development leads to the need for the development and operations sides to work very closely together. Thus, DevOps become...
Verizon Enterprise Solutions is simplifying the cloud-purchasing experience for its clients, with the launch of Verizon Cloud Marketplace, a key foundational component of the company's robust ecosystem of enterprise-class technologies. The online storefront will initially feature pre-built cloud-based services from AppDynamics, Hitachi Data Systems, Juniper Networks, PfSense and Tervela. Available globally to enterprises using Verizon Cloud, Verizon Cloud Marketplace provides a one-stop shop fo...
AppZero has announced that its award-winning application migration software is now fully qualified within the Microsoft Azure Certified program. AppZero has undergone extensive technical evaluation with Microsoft Corp., earning its designation as Microsoft Azure Certified. As a result of AppZero's work with Microsoft, customers are able to easily find, purchase and deploy AppZero from the Azure Marketplace. With just a few clicks, users have an Azure-based solution for moving applications to the...
“In the past year we've seen a lot of stabilization of WebRTC. You can now use it in production with a far greater degree of certainty. A lot of the real developments in the past year have been in things like the data channel, which will enable a whole new type of application," explained Peter Dunkley, Technical Director at Acision, in this SYS-CON.tv interview at @ThingsExpo, held Nov 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.
SYS-CON Events announced today that IDenticard will exhibit at SYS-CON's 16th International Cloud Expo®, which will take place on June 9-11, 2015, at the Javits Center in New York City, NY. IDenticard™ is the security division of Brady Corp (NYSE: BRC), a $1.5 billion manufacturer of identification products. We have small-company values with the strength and stability of a major corporation. IDenticard offers local sales, support and service to our customers across the United States and Canada...
SYS-CON Events announced today that AIC, a leading provider of OEM/ODM server and storage solutions, will exhibit at SYS-CON's 16th International Cloud Expo®, which will take place on June 9-11, 2015, at the Javits Center in New York City, NY. AIC is a leading provider of both standard OTS, off-the-shelf, and OEM/ODM server and storage solutions. With expert in-house design capabilities, validation, manufacturing and production, AIC's broad selection of products are highly flexible and are conf...
SYS-CON Events announced today Isomorphic Software, the global leader in high-end, web-based business applications, will exhibit at SYS-CON's DevOps Summit 2015 New York, which will take place on June 9-11, 2015, at the Javits Center in New York City, NY. Isomorphic Software is the global leader in high-end, web-based business applications. We develop, market, and support the SmartClient & Smart GWT HTML5/Ajax platform, combining the productivity and performance of traditional desktop software ...
Leysin American School is an exclusive, private boarding school located in Leysin, Switzerland. Leysin selected an OpenStack-powered, private cloud as a service to manage multiple applications and provide development environments for students across the institution. Seeking to meet rigid data sovereignty and data integrity requirements while offering flexible, on-demand cloud resources to users, Leysin identified OpenStack as the clear choice to round out the school's cloud strategy. Additional...
The cloud is becoming the de-facto way for enterprises to leverage common infrastructure while innovating and one of the biggest obstacles facing public cloud computing is security. In his session at 15th Cloud Expo, Jeff Aliber, a global marketing executive at Verizon, discussed how the best place for web security is in the cloud. Benefits include: Functions as the first layer of defense Easy operation –CNAME change Implement an integrated solution Best architecture for addressing network-l...
“We help people build clusters, in the classical sense of the cluster. We help people put a full stack on top of every single one of those machines. We do the full bare metal install," explained Greg Bruno, Vice President of Engineering and co-founder of StackIQ, in this SYS-CON.tv interview at 15th Cloud Expo, held Nov 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.