• Market Watch

B2Gold initiates PEA for Springbok Zone at Otjikoto mine

• 1 Month Ago - 2024-08-13 00:00:00

Canadian miner B2Gold is set to initiate a preliminary economic assessment (PEA) as it aims to determine the economic viability of its Springbok Zone, it said. This after the conclusion of exploratory work that deemed the mineral resource estimate of the zone sufficient.
“B2Gold determined that the initial inferred mineral resource estimate was sufficient to initiate a PEA on development of the deposit by underground mining methods, similar to the Wolfshag deposit,” it said in an update.
B2Gold added that the Springbok Zone could potentially add to overall gold production as of 2026.
“Subject to the receipt of a positive PEA and permit, mining of the Springbok Zone - coupled with the exploration potential of the greater Antelope deposit - could begin to contribute to gold production at Otjikoto in 2026,” it said.
On 31 January, B2Gold announced positive exploration drilling results from the Antelope deposit at the Otjikoto mine. The Antelope deposit, which comprises of the Springbok Zone, the Oryx Zone and a possible third structure, Impala - subject to further confirmatory drilling - is located approximately three kilometres south of the Otjikoto open pit.
Recent drilling at the Springbok Zone remains open southward, indicating additional exploration potential beyond the currently defined resource.
The company determined that the initial inferred mineral resource estimate of 1.75 million tonnes grading 6.91 g/t gold for a total of 390 000 ounces of gold was sufficient to initiate a PEA on development of the deposit by underground mining methods, similar to the Wolfshag deposit.