B2Gold Corp. (BGLPF: OTC Link) | B2Gold Corp. and Radius Gold Inc. Provide Nicaragua Update: Trebol East Trench Returns 18.00 Metres at 2.56 Grams per Tonne Gold

B2Gold Corp. and Radius Gold Inc. Provide Nicaragua Update: Trebol East Trench Returns 18.00 Metres at 2.56 Grams per Tonne Gold

Aug 23, 2011

OTC Disclosure News Service

Vancouver, BC, Canada –

Joint News Release

 

B2Gold Corp. and Radius Gold Inc. Provide Nicaragua Update:

Trebol East Trench Returns 18.00 Metres at 2.56 Grams per Tonne gold

 

 

Vancouver, August 23, 2011 – B2Gold Corp. (TSX: BTO, OTCQX: BGLPF) (“B2Gold” or the “Company”) and Radius Gold Inc. (TSX-V: RDU) (“Radius Gold”), are pleased to provide an update on recent work carried out by B2Gold at their jointly owned (60% B2Gold / 40% Radius Gold) Trebol project in northeastern Nicaragua. Trebol is a low-sulphidation gold-bearing epithermal vein and breccia system characterized by shallow to moderately dipping tabular shaped vein and hydrothermal breccia zones within andesite. 

 

Trenching at Trebol East

 

Positive results have been received from recent trenching at Trebol East located 3 km east of the main Trebol trend. The low hills are comprised of the same quartz veins, hydrothermal breccias, and replacement zones, dipping moderately to the west, as seen in the main Trebol trend.

 

The new trench results appear to be outlining a north-south trending mineralized zone at least 1.5km long. Trench 91, which lies at the southern end of the trend, returned 18.00 metres at 2.56 grams per tonne (“g/t”) gold. Roughly 1km north, Trench 93 returned 19.00 metres at 1.54 g/t gold. Trench 92, which was cut 200 metres south of Trench 91, returned 5.70 metres at 0.63 g/t gold.

 

Metallurgy at Trebol

 

Six composite metallurgical samples have been collected for bottle roll tests from the Trebol drill core, to be shipped to Kappes Cassiday and Associates in Reno, NV. The samples were selected from:

 

·         weakly oxidized low grade stockwork

·         weakly oxidized medium grade wallrock breccia

·         oxidized low grade wallrock breccia

·         oxidized high grade sulfiderich hydrothermal breccia

·         medium grade weakly oxidized hydrothermal breccias; and

·         medium grade oxidized stockwork

 

The samples were produced from the coarse rejects by combining three separate samples of similar material from the same drill hole, then weighted according to their percent contribution to the composite and split numerous times. The total weight of each composite sample is between 4 and 5 kilograms.

 

San Jose Project

 

B2Gold has commenced a data and ground review of Radius Golds’ San Jose project (formerly known as the San Pedro project in historic Radius Golds’ releases). Radius Gold completed a short drill program in 2005, designed to test for a bulk tonnage target on the PM zone by drilling a fence of holes across a cluster of en echelon veins.

 

Two drill holes were collared to test trench TR-PM2-B1 which cut 14.6 g/t gold over 3.00 metres on the PM2 vein. Radius Golds’ hole 9 was drilled beneath this and cut good grades either side of what appears to be an old working. The holes returned 17.5 g/t gold over 1.52 metres in the hanging wall of the working, and 13.0 g/t gold over 1.78 metres in the footwall. Drill hole 10 undercut this hole and returned 5.4 g/t over 3.00 metres. Radius Gold mapped the PM2 vein for over 500 metres.

 

Trenching suggests that good potential also exists over 800 metres along the 2 km PM1 vein and a more detailed trenching program, with trenching every 30 to 50 metres, may be warranted focusing on areas with old workings which may indicate high grade ore shoots.

 

Roughly 9 km south of the PM zone, the Buena Vista zone has been traced for over 2 km. Radius Golds’ best trench on this vein returned 13.81 g/t gold over 8.354 metres but this was never drill tested. B2Gold are currently planning and permitting a trenching program for San Jose.

 

Plans for August

 

Trenching and soil sampling will continue at Trebol with priority given to developing the emerging zone at Trebol East, with the aim of defining drill targets. Detailed soil sampling will also continue along the main Trebol trend as well to better define potential resource areas.

 

Samples for Trebol are submitted with blanks and industry certified standards inserted in the field and prior to reception at Inspectorate’s prep lab in Managua.  Pulps are then analyzed at Inspectorate’s labs in Reno, Nevada. Check assays are currently being selected now that the drilling program has been completed and will be sent to ALS labs in Vancouver, Canada.  Except where noted, all results stated in this announcement have passed B2Gold’s quality assurance and quality control (“QA/QC”) protocols. 

 

Roger Hulstein, BSc, PGeo, is a member of the Association of Professional Engineers and Geoscientists of British Columbia and is the Radius Golds’ qualified person as defined by National Instrument 43-101. Mr. Hulstein has verified that the technical information in this release is an accurate summary of the information provided by B2Gold to Radius Gold.

 

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.                      On Behalf of RADIUS GOLD INC.

“Tom Garagan”                                                      “Simon Ridgway”
Senior Vice President of Exploration                     President and Chief Executive Officer

 

For more information on B2Gold please visit the Company web site at www.b2gold.com or contact:

 

Ian MacLean                                                             Kerry Suffolk

Vice President, Investor Relations                               Manager, Investor Relations

604-681-8371                                                             604-681-8371

 

For more information on Radius Gold please visit the Radius Gold’s web site at www.radiusgold.com or contact:

 

Investor relations:  Ralph Rushton / Erin Ostrom

Tel: 604-801-5432

Toll Free: 1-888-627-9378

Email: info@radiusgold.com

 

The Toronto Stock Exchange neither approves nor disapproves the information contained in this News Release. 

 

Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this 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.

The above news release has been provided by the above company via the OTC Disclosure and News Service. Issuers of news releases and not OTC Markets Group Inc. are solely responsible for the accuracy of such news releases.

Article source: http://www.otcmarkets.com/stock/BGLPF/news?id=34595

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