B2Gold Corp (TSE: BTO) (NYSEAMERICAN: BTG) received a series of high-grade core assays from its 2024 drill campaign in Nunavut this week. The multinational gold producer believes they indicate the potential for added resources and mine life extension at the Goose operation.
Goose is still under construction and is expected to pour its first gold in Q2 next year before commercial production starts during the following quarter. In September, B2Gold determined that the northern project would cost about C$290 million more than expected.
Increased shipping expenses for necessary materials were one of the main reasons for this.
The most notable drill results that B2Gold revealed on Wednesday came from Goose’s Nuvuyak deposit, Mammoth target, and Llama deposit. Also, the “Umwelt” deposit.
At Nunvuyak, the gold producer intercepted 6.4 grams per tonne gold over 28.8 metres, including 23.5 g/t Au in a 6.5-metre section. Exploration drilling at the Mammoth target yielded 17.45 g/t Au over 11 metres, with a bonanza-grade interval containing 68.6 g/t Au over 2.5 metres. B2Gold says a highly prospective underground system exists between these two areas with substantial production potential.
The best core sample taken from Llama contained 14.3 g/t Au throughout 28 metres, including 54.2 g/t Au within six metres. For Umwelt, the most notable intercept consisted of 27.3 g/t Au over 11.1 metres.
B2Gold’s 25,000-metre drill campaign this year cost the company about C$39.4 million.
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B2Gold holds public meeting on Back River District environmental monitoring
In the remote Nunavut community of Kugluktuk, B2Gold shared updates regarding its environmental monitoring efforts at a public meeting on Oct. 28.
The mine permitting processes associated with Goose and other projects in the territory were other topics in discussion. These include the George, Boot, Del and Boulder properties adjacent to and east of Goose.
“We look forward to continuing our collaboration with the Kitikmeot Inuit and communities to make a positive, lasting impact together,” the gold producer said in a social media post.
Photo credit: B2Gold
Young Inuit welders get career opportunities in the north
Welders from Cambridge Bay’s Red Fish Arts Society toured the Goose project in October. They made a series of metal signs needed for the project and assisted with equipment maintenance.
B2Gold initiated a partnership with the Nunavut arts school in early 2024 to help the students secure future employment within the Back River district.
Additionally, the gold miner donated welding equipment to the Netsilik School in Canada’s northernmost community of Taloyoak in September.
“Through a donation of welding equipment, materials, and supplies we are helping to train the next generation of skilled tradespeople to support Nunavut’s growing mining industry!” the company said at the time.
B2Gold decreased its interest in Calibre Mining Corp (TSE: CXB) (OTCMKTS: CXBMF) by about 10 per cent in June, but the company still retains a 4 per cent stake. Funds obtained from the sale of 79 million Calibre shares were needed for Goose’s rising costs and other expenses.
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rowan@mugglehead.com
