B2Gold Corp. Announces Further Positive Exploration Drill Results
from the Cebollati Project in Uruguay
Vancouver, September 16 , 2011 - B2Gold Corp. (TSX: BTO, OTCQX: BGLPF)
("B2Gold" or the "Company"), is pleased to announce
additional drilling results from the first exploration drill program at its
newly discovered Cebollati gold project in Uruguay.
B2Gold is earning an 80% interest in the property..
Twenty eight holes totalling 4,036 metres have been completed to date with new holes
following up on the initial drill holes on the property (see B2Gold press release dated
June 7, 2011) which confirmed the presence of significant gold
bearing replacement style mineralization within multiple zones. Highlights of the new drilling include:
- UC11-019 with 11.15 metres grading 11.59 grams per tonne
("g/t") gold within a broader 23.85 metres
interval of mineralization grading 5.69 g/t
- UC11-022 with 7.55 metres grading 5.67 g/t gold; and
- UC11-021 with 16.25 metres grading 1.74 g/t gold
Recent drilling was concentrated in two areas,
Southern and Windmill, with the aim to help in defining the geometry of the
previously identified zones and test for multiple zones within the target
areas. Tighter spaced drilling confirms the existence of zones of continuous,
shallow, mineralization within both the Windmill and Southern zones, which
are open along strike and to depth. In conjunction with the trenching each of
these zones extends for in excess of 400 metres
within a mineralized system which has been defined over greater than 2.2 kilometres in strike length (see B2Gold press release dated November 15, 2010).
Fifteen holes totalling
2,132 metres have been drilled to date in the
Southern zone with the majority of the holes testing the eastern limb of a
broad antiformal structure close to the main fold
hinge zone within the deformed marble sequence. Recent drilling results are
summarized in the table below. Broad zones of alteration and mineralization
have been intersected within the Southern zone with several shallow easterly
dipping high grade shoots now identified, as typified by holes UC11-019 and
UC11-022, which intersected 11.15 metres grading
11.59 g/t gold (6.17 g/t gold with assays capped at 25 g/t gold) and 7.55 metres grading 5.67 g/t gold (4.66 g/t gold with assays
capped at 25 g/t gold) respectively. These higher grade shoots have been
traced for approximately 75 metres down dip, remain
open to the north and south but appear to pinch out to the east. In addition
to these holes a single hole, UC11-029, tested the western limb of the antiform and intersected narrow, potentially stacked,
horizons of replacement mineralization, with the central horizon returning
3.30 metres grading 3.76 g/t gold. Additional holes
will follow up on this new area of mineralization at a later date.
Highlights of the recent Southern zone drilling are
shown below:
![cebollati exploratio](https://i4.createsend1.com/ei/y/60/ED4/F43/000036/chart1b2gold.gif)
* Intersected width. There has been
insufficient drilling to determine true width
** Core recoveries in saprolite zone low
To date twelve holes totalling
1,806 metres have been drilled in the Windmill zone
area. The main zone dips at approximately 70 degrees to the west, has been
traced down dip for in excess of 130 metres and remains
open with the oxidation continuing to depth. New results of interest include
hole UC11-023 with 3.70 metres grading 2.55 g/t
gold and hole UC11-025 with 2.35 metres grading
5.52 g/t gold.
Highlights of the recent Windmill drilling are as
follows:
![cebollati exploratio](https://i5.createsend1.com/ei/y/60/ED4/F43/000036/chart2b2gold.gif)
* Intersected width. There has been
insufficient drilling to determine true width.
The higher grade shoots in both zones are comprised
of both concordant and discordant zones of intense iron oxide replacement and
silicification of the banded marble horizons in
association with zones of dolomitization and cross
cutting quartz-hematite and quartz-sulphide
en-echelon and ladder, vein systems. Elevated levels of base metals are
common in the mineralized zones with up to 1.8% copper, 10.1% zinc and 4.5%
lead present in individual samples along with silver values of up to 247 g/t.
Based on the drilling results to date B2Gold's management believes the Cebollati property has the potential to host multiple
zones of potentially economic gold mineralization.
Trenching and drilling is continuing at Cebollati,
but at a slower pace due to the wet conditions experienced during the
Uruguayan winter. One drill is currently operating on the project testing
targets outside of the main Windmill and Southern zones. The 2011 exploration
and drilling program at Cebollati is budgeted for US$4.5 million with a total of 8,500 metres planned. More trenching and drilling results will
be released as available.
Samples for Cebollati are submitted with blanks,
duplicates and industry certified standards inserted in the field and prior
to reception at ACME Laboratories in Santiago, Chile. Sample preparation and
fire assaying is completed by ACME Laboratories in Santiago and ICP analysis
at ACME Laboratories in Vancouver, Canada. Check assays are conducted
at ALS Labs in Vancouver, Canada. All results stated in this
announcement have passed B2Gold's quality assurance and quality control
("QA/QC") protocols.
The exploration programs for the Company are reviewed and the results
approved by Tom Garagan, B2Gold's Qualified Person
under National Instrument 43-101.
On Behalf of B2GOLD CORP.
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"Tom Garagan"
Senior Vice
President of Exploration
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For more information on B2Gold please visit the Company web site at www.b2gold.com or contact:
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Ian MacLean
Vice President, Investor Relations
604-681-8371
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Kerry Suffolk
Manager, Investor Relations
604-681-8371
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The Toronto Stock Exchange neither approves nor
disapproves the information contained in this News Release.
The securities described herein have not been and
will not be registered under the United States Securities Act of 1933, as
amended, and may not be offered or sold in the United States absent
registration or an applicable exemption from registration requirements.
Some of the statements contained in this release are
forward-looking statements, such as estimates and statements that describe
the Company's future plans, objectives or goals, including words to the
effect that the Company or management expects a stated condition or result to
occur. Since forward-looking statements address future events and conditions,
by their very nature, they involve inherent risks and uncertainties. Actual
results in each case could differ materially from those currently anticipated
in such statements.