Gosh Darn it! These jerks just can't chew gum and walk at the same time! <g>
B2Gold Corp. Announces Further Positive Exploration Drill Results from La Libertad Mine property
in Nicaragua Increasing the Size of the Jabali Zones, and the Mojon West Deposit
Vancouver, September 15, 2011 – B2Gold Corp. (TSX: BTO, OTCQX: BGLPF) (“B2Gold” or the
“Company”) is pleased to announce further positive drilling results from the exploration and infill
programs at La Libertad Mine property in Nicaragua. These results indicate that the Jabali Zones that
generated the previously announced higher grade resources are increasing in size, and confirm the strong
continuity of gold mineralization at Jabali Central. In addition, drilling has also continued to intersect
strong gold mineralization at Mojon West, the new zone immediately west of the current Mojon open pit,
and outside of the current reserves and pit model. B2Gold is projected to produce 93,000 to 99,000
ounces of gold from La Libertad open pit mine in 2011.
The significance of the continued high grade results from Jabali and the previously announced resource, is that this represents substantially higher grade ore (4.58 grams per tonne (“g/t”) of gold), than the current average open pit grade at La Libertad of 1.8 g/t of gold, that can be trucked to La Libertad mill for processing to make up a portion of the mill feed resulting in higher annual gold production in the near term and going forward.
Based on the positive results from Jabali to date, the Company has commenced full permitting,
environmental studies and metallurgical test work. The Company plans to commence mining from Jabali,
delivering good grade colluvial material in late 2011 and open pit mining by late 2012.
{more...}
kitco.com
I mean REALLY????? Whodathunkit? This is outrageous! Who wants a mine that can grow production organically by 50% or 100% just by getting some "high grade" ore into the mill feed? When will they be able to get the 0.3 gpt material off of those old leach pads? What are they going to do, let it just sit there? <g>
But THAT is the story that Bharti and Tagliamonte just could not figure out how to sell, such that investors would capitalize their build out of the Mine - and thus they had to sell. It was a no brainer for Clive to scoop this one up - Libertad has always had company maker potential. Now it is coming to fruition.
What would you say BTO is worth if they jam enough high grade into the mill to puke out 150,000 oz in 2012 and 175,000 to 200,000 oz in 2013? What if all of the drilling, 24,345 meters to date this year, doubles the "in the ground" ounces? What then?
H3 |
