B2Gold Corp. (TSX: BTO) (NYSE AMERICAN: BTG) (NSX: B2G) reported positive results from its latest exploration drilling results at its Fekola Regional area in Mali.
On Thursday, the company announced the results from the program and is currently carrying out a $35 million exploration program on the Fekola Complex in 2023, with a focus on the Anaconda Area. The program includes a 178,000 meters drill, including 85,000 meters of drilling that have been completed so far, with around 39,000 meters allocated to infill drilling in the Anaconda Area.
This infill drilling aims to upgrade the Inferred portion of the March 2022 Mineral Resource estimate to an Indicated category. The company has received assays from this infill drilling program, which are being incorporated into an updated Mineral Resource estimate expected to be completed by the end of Q2 2023.
The Fekola Regional area is situated around 25 kilometres north and northeast of the Fekola Mine in Mali. This area consists of the Anaconda Area, comprising Bantako North and Menankoto permits, the Bakolobi permit, and the Dandoko permit. It is an integral part of the Fekola Complex, which encompasses the Medinandi permit hosting the Fekola Mine and the Cardinal Zone as well.
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In 2023, the mining company is exploring the Mamba Zone and focusing on converting saprolite mineral resources and expanding high-grade sulphide mineralization. One of the holes drilled in the Anaconda Area, MSD241, had a high gram-meter intercept of 8.6 g/t gold over 46.4 meter from 443.3 meter (sulphide).
The Cobra and Taipan zones have mineralization defined over an eight-kilometre stretch, and the Dandoko permit has infill drilling that validated the known high-grade saprolite zone and defined additional sulphide mineralization. An updated Anaconda Area Mineral Resource estimate is underway and expected to be completed in Q2 2023.
The company plans to complete the engineering study of a stand-alone mill and oxide processing facilities at Fekola Regional in Q4 2023 to incorporate the updated resource estimate. The Fekola Complex optimization work is ongoing to maximize the project value from all oxide and sulphide material sources.