Antelope could be B2Gold lifeline
Deposit has mining potential
B2Gold's exploration budget for Namibia this year is about N$168 million, funding the largest drill programme since the definition of the Wolfshag discovery in 2012.
B2Gold Corp’s Antelope deposit at its Otjikoto Mine has the potential to be developed as an underground gold mining operation, the Canada-based miner yesterday announced on the Namibian Stock Exchange (NSX).
If successful, Antelope could start contributing to gold production at Otjikoto in 2026, B2Gold said. It could complement the expected processing of stockpiles at the Otjikoto mill from 2026 through 2031, the company added.
A total of 20 715 m in 37 drill holes were completed at the Antelope deposit last year. This year, 39 000 m of drilling is planned to define and expand the Antelope deposit.
Antelope – discovered in 2022 and comprised of the Springbok Zone and the Oryx Zone – is about 3 km south of the Otjikoto Phase 5 open pit. A possible third structure, Impala, is subject to further confirmatory drilling.
Following the results at last year Antelope drilling, B2Gold said it “believes this style of mineralisation could be amenable to underground mining methods similar to those used at the Wolfshag underground mine”.
Operations
The open pit operations at Otjikoto are expected to wrap up in 2025, whereas the underground mining activities at Wolfshag are slated to continue until 2026.
Current gold production estimates at Otjikoto are expected to be between 180 000 to 200 000 ounces this year and next year, and just under 100 000 ounces in 2026. From 2026 to 2031, during the processing of low-grade stockpiles, production is expected to decrease to below 50 000 ounces.
“Underground mining of the Antelope deposit has the potential to supplement the processing of stockpiles through 2031, with the goal of increasing gold production levels to over 100 000 ounces per year from 2026 through 2031,” B2Gold said.
An initial mineral resource estimate at Antelope is expected by the third quarter this year.
An internal scoping study on an underground mining operation should be completed by the first quarter of 2025, according to B2Gold.
Exploration
B2Gold’s exploration budget for Namibia this year is US$9 million – about N$168 million – funding the largest drill programme since the definition of the Wolfshag discovery in 2012.
The company plans to spend US$33 million, about N$619 million, in capital expenditures on its Otjikoto Mine in Namibia this year.
Otjikoto ended last year on a high note, producing 81 111 ounces of gold in the last three months, marking a quarterly record.
Production from the Wolfshag underground mine remained consistent through the last quarter of the year.
B2Gold said the Otjikoto Mine produced 208 598 ounces of gold in total last year, near the upper end of its guidance range of 190 000 to 210 000 ounces. The company holds a 90% interest in Otjikoto.
B2Gold also owns the Fekola Mine in Mali, which produced 590 243 ounces of gold last year. Its Masbate Mine in the Philippines delivered 193 502 ounces.
In total, B2Gold’s mines produced 992 343 ounces of gold last year, of which Otjikoto contributed 21%.
B2Gold is dual-listed on the Overall Index of the Namibian Stock Exchange (NSX). It closed Wednesday at N$53.06 per share.
If successful, Antelope could start contributing to gold production at Otjikoto in 2026, B2Gold said. It could complement the expected processing of stockpiles at the Otjikoto mill from 2026 through 2031, the company added.
A total of 20 715 m in 37 drill holes were completed at the Antelope deposit last year. This year, 39 000 m of drilling is planned to define and expand the Antelope deposit.
Antelope – discovered in 2022 and comprised of the Springbok Zone and the Oryx Zone – is about 3 km south of the Otjikoto Phase 5 open pit. A possible third structure, Impala, is subject to further confirmatory drilling.
Following the results at last year Antelope drilling, B2Gold said it “believes this style of mineralisation could be amenable to underground mining methods similar to those used at the Wolfshag underground mine”.
Operations
The open pit operations at Otjikoto are expected to wrap up in 2025, whereas the underground mining activities at Wolfshag are slated to continue until 2026.
Current gold production estimates at Otjikoto are expected to be between 180 000 to 200 000 ounces this year and next year, and just under 100 000 ounces in 2026. From 2026 to 2031, during the processing of low-grade stockpiles, production is expected to decrease to below 50 000 ounces.
“Underground mining of the Antelope deposit has the potential to supplement the processing of stockpiles through 2031, with the goal of increasing gold production levels to over 100 000 ounces per year from 2026 through 2031,” B2Gold said.
An initial mineral resource estimate at Antelope is expected by the third quarter this year.
An internal scoping study on an underground mining operation should be completed by the first quarter of 2025, according to B2Gold.
Exploration
B2Gold’s exploration budget for Namibia this year is US$9 million – about N$168 million – funding the largest drill programme since the definition of the Wolfshag discovery in 2012.
The company plans to spend US$33 million, about N$619 million, in capital expenditures on its Otjikoto Mine in Namibia this year.
Otjikoto ended last year on a high note, producing 81 111 ounces of gold in the last three months, marking a quarterly record.
Production from the Wolfshag underground mine remained consistent through the last quarter of the year.
B2Gold said the Otjikoto Mine produced 208 598 ounces of gold in total last year, near the upper end of its guidance range of 190 000 to 210 000 ounces. The company holds a 90% interest in Otjikoto.
B2Gold also owns the Fekola Mine in Mali, which produced 590 243 ounces of gold last year. Its Masbate Mine in the Philippines delivered 193 502 ounces.
In total, B2Gold’s mines produced 992 343 ounces of gold last year, of which Otjikoto contributed 21%.
B2Gold is dual-listed on the Overall Index of the Namibian Stock Exchange (NSX). It closed Wednesday at N$53.06 per share.
Comments
Namibian Sun
No comments have been left on this article