B2Gold pours first gold at Fekola

Stockwatch Daily - - MINES & METALS - Mr. Clive John­son re­ports

THE FIRST gold pour at B2Gold Corp.’s Fekola gold mine oc­curred on Oct. 7, 2017, ap­prox­i­mately three months ahead of sched­ule. Com­mis­sion­ing of the mill is con­tin­u­ing and com­mer­cial pro­duc­tion is ex­pected by the end of 2017. In the fourth quar­ter of 2017 the com­pany is pro­ject­ing gold pro­duc­tion from Fekola of be­tween 50,000 and 55,000 ounces. Two thou­sand eigh­teen is sched­uled to be the first full year of gold pro­duc­tion, yield­ing 400,000 to 410,000 ounces for the year. Based on cur­rent as­sump­tions this rep­re­sents an in­crease in an­nual gold pro­duc­tion of over 70 per cent for B2Gold in 2018.

B2Gold pre­vi­ously an­nounced on Sept. 25, 2017, that con­struc­tion of the mill at Fekola was com­pleted and the com­pany had com­menced run­ning ore through the sys­tem three months ahead of the original sched­ule and on bud­get. Ad­di­tion­ally, the com­pany an­nounced a new life of mine (LoM) plan show­ing in­creased pro­duc­tion and lower op­er­at­ing and all in sus­tain­ing costs (AISC) com­pared with the original (four-mil­lion-tonne-per-an­num op­ti­mized fea­si­bil­ity study for Fekola’s 5 Mtpa mill (see press re­lease dated Sept. 25, 2017).

Based on the new LoM plan, the Fekola mine is pro­jected to pro­duce ap­prox­i­mately 400,000 ounces of gold an­nu­ally for the first three years at op­er­at­ing cash costs of $357 per ounce and all-in sus­tain­ing costs of $604 per ounce. For the first seven years Fekola is pro­jected to pro­duce ap­prox­i­mately 374,000 ounces of gold an­nu­ally with op­er­at­ing cash costs of $391 per ounce and AISC of $643 per ounce. Over the ini­tial 10-year LoM Fekola is pro­jected to pro­duce an av­er­age of 345,000 ounces per an­num at op­er­at­ing cash costs of $428 per ounce and AISC of $664 per ounce.

Con­tin­u­ing Fekola ex­plo­ration (see press re­lease dated Sept. 25, 2017)

Based on ex­plo­ration to date, B2Gold’s ex­plo­ration team be­lieves there is sig­nif­i­cant po­ten­tial to in­crease the mine life of Fekola through fur­ther ex­plo­ration drilling. The $15-mil­lion 2017 ex­plo­ration drill pro­gram is con­tin­u­ing at the Fekola prop­erty and regional area. The drilling is fo­cused on test­ing the po­ten­tial ex­ten­sion of Fekola to the north, the min­er­al­iza­tion be­low the Kiwi zone and the min­er­al­ized bedrock zones be­neath the Ana­conda sapro­lite re­source.

In­fill drilling con­tin­ues to fo­cus on the re­sources out­lined im­me­di­ately be­low the Fekola re­serve bound­ary, im­me­di­ately to the north of the bound­ary and the near sur­face por­tion of the Kiwi zone. The re­sources iden­ti­fied to date could add up to 900,000 ounces to re­serves with fur­ther in­fill drilling. Ex­plo­ration and in­fill drilling re­sults will be re­leased in Novem­ber, 2017.

Qual­i­fied per­son

Tom Gara­gan, se­nior vice-pres­i­dent of ex­plo­ration for B2Gold, a qual­i­fied per­son un­der National In­stru­ment 43-101, has ap­proved the ex­plo­ration in­for­ma­tion con­tained in this news re­lease.

Peter D. Mon­tano, PE, the pro­ject direc­tor of B2Gold, a qual­i­fied per­son un­der NI 43-101, has ap­proved the sci­en­tific and tech­ni­cal in­for­ma­tion con­tained in this news re­lease.

About B2Gold Corp.

Head­quar­tered in Van­cou­ver, Canada, B2Gold is one of the fastest-grow­ing intermediate gold pro­duc­ers in the world. Founded in 2007, to­day, B2Gold has four op­er­at­ing mines, one mine un­der con­struc­tion and nu­mer­ous ex­plo­ration projects in var­i­ous coun­tries, in­clud­ing Fin­land, Nicaragua, the Philip­pines, Namibia, Mali and

Burk­ina Faso.

Based on cur­rent as­sump­tions and up­dates to B2Gold’s cur­rent year guid­ance and long-term mine plans, the com­pany is pro­ject­ing con­sol­i­dated gold pro­duc­tion in 2017 of be­tween 530,000 and 570,000 ounces (in­clud­ing es­ti­mated pre­com­mer­cial pro­duc­tion from the Fekola mine of be­tween 50,000 and 55,000 ounces); and in 2018, sig­nif­i­cantly in­creas­ing to be­tween 925,000 and 975,000 ounces, with the in­clu­sion of the an­tic­i­pated first full year of com­mer­cial pro­duc­tion at Fekola.

We seek Safe Har­bor.

Kevin Bul­lock, Robert Melvin Dou­glas Cross, Robert Joseph Gay­ton, Clive Thomas John­son, Ge­orge John­son, Jerry R Kor­pan, Bon­gani Mt­shisi, Barry Don­ald Ray­ment

(BTO) Shares: 978,826,711

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