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(Kitco News) - B2Gold (TSX: BTO) (NYSE: BTG) announced Wednesday an updated and significantly increased mineral resource estimate for the Anaconda area, located approximately 20 kilometers from the company’s Fekola gold mine in Mali.
The company said that the Anaconda area’s June 2023 mineral resource estimate, constrained within an optimized pit shell at a gold price of US$1,800 per ounce, includes indicated mineral resources of 57,100,000 tonnes at 1.11 g/t gold for a total of 2,030,000 ounces of gold, which is an 80% increase from the March 2022 mineral resource estimate.
In addition, the updated mineral resource estimate, constrained within an optimized pit shell at a gold price of US$1,800 per ounce, includes inferred mineral resources of 46,600,000 tonnes at 1.33 g/t gold for a total of 2,000,000 ounces of gold (March 2022 estimate: 2,280,000 ounces).
Importantly, according to a press release, since the cut-off date for assays for the June 2023 mineral resource estimate, the company has continued to expand both oxide and sulphide deposits at the Anaconda area.
B2Gold also noted that the Anaconda area oxide mineral resources and the Dandoko oxide mineral resources will form the basis of the engineering study of a Fekola regional stand-alone mill and oxide processing facilities.
The company added that an optimization study analysis indicates that the combined Fekola mine and Fekola regional processing facilities could have the potential to produce more than 800,000 ounces of gold per year from the Fekola complex, subject to delineation of additional mineral resources and development, completion of feasibility studies, and the receipt of all necessary regulatory approvals and permits.
In 2023, B2Gold is conducting a $35 million exploration program at the Fekola complex, comprised of the Fekola mine and the adjacent Cardinal zone on the Medinandi permit, the Anaconda area (Bantako North, Menankoto, and Bakolobi), and the Dandoko permit.
B2Gold is a low-cost international senior gold producer headquartered in Vancouver, Canada. Founded in 2007, today, B2Gold has operating gold mines in Mali, Namibia and the Philippines and numerous exploration and development projects in various countries including Canada, Mali, Colombia, Finland and Uzbekistan. B2Gold forecasts total consolidated gold production of between 1,000,000 and 1,080,000 ounces in 2023.
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