B2Gold Corp. (BGLPF: OTC Link) | B2Gold Corp. Announces Further Positive Exploration Drill Results from the Cebollati Project in Uruguay

B2Gold Corp. Announces Further Positive Exploration Drill Results from the Cebollati Project in Uruguay

Sep 16, 2011

OTC Disclosure News Service

Vancouver, BC, Canada –

News Release

 

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:

 

 

—————————————————————————

                                                                Gold      

                                             Inter-             (g/t)      

                                               val           (capped      

                                 From     To    (m)    Gold    at 25 Silver

Zone      Hole #                   (m)    (m)   (i)    (g/t)     g/t)  (ppm)

—————————————————————————

Southern                                                                  

 Central  UC11-017                        No significant results          

—————————————————————————

Southern                                                                  

 Eastern  UC11-019               0.00   7.75  7.75     0.50     0.50  15.60

—————————————————————————

Southern                                                                  

 Eastern  UC11-019  And         18.55  42.40 23.85     5.69     3.15   9.95

—————————————————————————

Southern                                                                   

 Eastern  UC11-019  Including   18.55  29.70 11.15    11.59     6.17  13.77

—————————————————————————

Southern                                                                   

 Eastern  UC11-019  And        140.95 141.65  0.70     2.38     2.38   3.99

—————————————————————————

Southern                                                                  

 Eastern  UC11-021              35.05  51.30 16.25     1.74     1.74  11.66

—————————————————————————

Southern                                                                  

 Eastern  UC11-021  Including   35.05  40.55  5.50     4.18     4.18  11.07

—————————————————————————

Southern                                                                  

 Eastern  UC11-022              40.00  47.55  7.55     5.67     4.66  19.52

—————————————————————————

Southern                                                                  

 Eastern  UC11-026              31.55  33.05  1.50     2.54     2.54 134.82

—————————————————————————

Southern                                                                  

 Eastern  UC11-027              43.40  45.25  1.85     3.43     3.43  87.36

—————————————————————————

Southern                                                                  

 Western  UC11-029             119.55 122.85  3.30     3.76     3.76  14.43

—————————————————————————

Southern                                                                  

 Western  UC11-029  And        166.80 168.70  1.90     1.82     1.82   9.16

—————————————————————————

 

—————————————————————————

                                  Copper       Lead        Zinc           

Zone      Hole #                    (ppm)      (ppm)       (ppm)       Note

—————————————————————————

Southern                                                                  

 Central  UC11-017                  No significant results                

—————————————————————————

Southern                                                          saprolite

 Eastern  UC11-019                234.01    2950.71      789.77        (ii)

—————————————————————————

Southern                                                                   

 Eastern  UC11-019  And           258.59    4013.14     1614.76           

—————————————————————————

Southern                                                                   

 Eastern  UC11-019  Including     383.15    7154.24     2980.82           

—————————————————————————

Southern                                                                  

 Eastern  UC11-019  And           159.94    1121.60      271.79           

—————————————————————————

Southern                                                                  

 Eastern  UC11-021                197.78    1237.36     4071.85           

—————————————————————————

Southern                                                                  

 Eastern  UC11-021  Including     269.01    2026.30     3155.22           

—————————————————————————

Southern                                                                  

 Eastern  UC11-022                649.45    3913.17     2519.10           

—————————————————————————

Southern                                                                  

 Eastern  UC11-026                414.50    1789.03    16838.53           

—————————————————————————

Southern                                                                  

 Eastern  UC11-027               1446.95    7494.18     2473.65           

—————————————————————————

Southern                                                                  

 Western  UC11-029                201.22   10733.28       67.05           

—————————————————————————

Southern                                                                   

 Western  UC11-029  And           126.78      86.75       29.89           

—————————————————————————

                                                                            

(i) Intersected width. There has been insufficient drilling to determine   

true width.                                                                

(ii) 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:

 

 

—————————————————————————

                                                              Gold        

                                                              (g/t)        

                                         Interval          (capped)        

                              From     To      (m)  Gold     at 25   Silver

Zone       Hole #               (m)    (m)     (i)  (g/t)      g/t)    (ppm)

—————————————————————————

Windmill   UC11-020         123.20 123.80    0.60   3.89      3.89    57.70

—————————————————————————

Windmill   UC11-020   And   134.20 134.50    0.30   4.70      4.70    31.50

—————————————————————————

Windmill   UC11-020   And   153.00 161.90    8.90   0.61      0.61     5.93

—————————————————————————

Windmill   UC11-023          17.15  20.85    3.70   2.55      2.18     8.23

—————————————————————————

Windmill   UC11-024          23.00  27.30    4.30   0.63      0.63    17.82

—————————————————————————

Windmill   UC11-024   And    47.25  52.10    4.85   1.73      1.73     7.35

—————————————————————————

Windmill   UC11-024   And    56.80  62.70    5.90   1.19      1.19     5.74

—————————————————————————

Windmill   UC11-024   And    89.00 110.85   21.85   0.61      0.61     7.24

—————————————————————————

Windmill   UC11-025          20.15  22.50    2.35   5.52      5.52    18.99

—————————————————————————

Windmill   UC11-025   And    92.00  93.75    1.75   2.43      2.43    66.36

—————————————————————————

Windmill   UC11-025   And    99.75 102.00    2.25   2.87      2.87     8.17

—————————————————————————

 

—————————————————————————

                                     Copper            Lead            Zinc

Zone       Hole #                      (ppm)           (ppm)           (ppm)

—————————————————————————

Windmill   UC11-020                 2464.80         5127.50         2663.00

—————————————————————————

Windmill   UC11-020   And            613.20         4747.20         4007.00

—————————————————————————

Windmill   UC11-020   And            283.51          823.90          276.75

—————————————————————————

Windmill   UC11-023                  369.32         2651.04          195.65

—————————————————————————

Windmill   UC11-024                  830.80         2696.16          882.92

—————————————————————————

Windmill   UC11-024   And            326.99          984.87          325.73

—————————————————————————

Windmill   UC11-024   And            240.29         1115.60          114.17

—————————————————————————

Windmill   UC11-024   And            301.38         1885.62         2679.81

—————————————————————————

Windmill   UC11-025                  745.40         3909.25         1004.34

—————————————————————————

Windmill   UC11-025   And           4689.50         1438.75         1338.74

—————————————————————————

Windmill   UC11-025   And            282.49          294.95          213.76

—————————————————————————

                                                                           

(i) 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.

 

Tom Garagan, Senior Vice President of Exploration

 

 

FOR FURTHER INFORMATION PLEASE CONTACT:

 

B2Gold Corp.

Ian MacLean

Vice President, Investor Relations

604-681-8371

 

OR

 

B2Gold Corp.

Kerry Suffolk

Manager, Investor Relations

604-681-8371

www.b2gold.com

     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

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=35752

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