B2Gold Corp reports 19.12 g/t gold at Goose mine

B2Gold Corp. TSEBTO NYSEAMERICANBTG reported on Monday that hole 26GSE749Z2 cut 19.12 grams per tonne gold over 21.23 metres at the Llama deposit below its Goose mine pit in Nunavut. B2Gold said the infill result strengthens its interpretation of inferred material beneath the pit, while Goose remains on course to produce 170,000 to 200,000 ounces of gold in 2026.

Shares fell 3.36 per cent to C$7.47 at the 4 p.m. EDT close in Toronto on Monday, according to the TSEBTO quote. Mobile crushing has handled more than 3,000 tonnes of ore a day on average since mid-August, supplying capacity while B2Gold repairs the fixed crusher after an April fire.

B2Gold also identified Tattuk as a new mineralized zone beyond Nuvuyak's western limb at Goose Main. An exploration hole there returned 10.94 grams per tonne gold over 9.95 metres. The intercept in hole 26GSE750Z2 began 1,195.90 metres down the core. A separate Nuvuyak hole returned 11.88 grams per tonne over 6.90 metres.

At the George project's Locale 1 deposit, a drill hole returned 26.49 grams per tonne gold over 9.40 metres. The intercept from hole 26GRL239 began 38.60 metres down the core. B2Gold said the George infill results support continuity of inferred resources there, while the first fixed crusher upgrades at Goose remain scheduled for mid-October.

The Llama intercept began 463.85 metres down the core. Another Llama intersection graded 44.61 grams per tonne over 4.65 metres. It came from hole 26GSE749, starting 473.50 metres down the core. The release identifies the highlighted intervals as core lengths and gives no true widths or revised resource estimate.

B2Gold put the capital cost of the additional mobile crushing plant and supporting equipment at about US$16 million. It estimates the first phase of fixed plant upgrades at US$11 million. After commissioning, the fixed plant is expected to average 3,200 tonnes of crushing a day. The company plans to use both crushers through October and, weather permitting, through winter to build a stockpile for the mill.

B2Gold said it had completed 27,493 metres of Back River drilling by Aug. 31. The 2026 program is planned to exceed 35,000 metres. It described the US$51 million campaign as 75 per cent complete at that date. The company expects third-quarter Goose production broadly in line with the first quarter and its strongest output of 2026 in the fourth quarter.

"At the George Project, strong results from infill drilling strengthened confidence in the continuity of high-grade mineralization that will support resource conversion," chief executive Mike Cinnamond said in the Sept. 28 release.

A second phase of fixed crusher upgrades is scheduled for the first half of 2027 and is expected to raise average fixed crushing capacity to 4,000 tonnes a day. B2Gold expects the plant to be down for up to 10 weeks during that work and plans to feed the mill from its stockpile and mobile crusher.

B2Gold expects to commission the first fixed crusher upgrades and complete fire-related conveyor repairs in mid-October 2026.