Early days for Ondundu
B2Gold Namibia is yet to make a long-term decision with regards to the development of its joint-venture project with Forsys Metals on the Ondundu project. The Toronto-listed gold miner said that it was also still early days for the development. B2Gold executed a farm-in agreement with Forsys in 2016 for the potential development of the prospective gold mining project.
B2Gold told Namibian Sun that it is evaluating its options and would provide a market update of exploration results should the Ondundu resource prove to be significant, according to its spokesperson, Gretha du Plessis.
“Ondundu is a B2Gold exploration project. We are considering our options with the projects as we do with any other exploration and development projects around the world.
We are still in the very early stages of development with Ondundu and will officially publicise exploration results should the results prove to be prospective,” said Du Plessis upon enquiry.
Following the execution of the farm-in agreement, both parties agreed that B2Gold would take up a 25% stake in the project.
Du Plessis did not provide an update pertaining to the farm-in agreement and whether B2Gold's interest in changed since the execution of the farm-in agreement.
B2Gold's exploration budget for its domestic interest is nearly US$5.1 million and mainly for diamond drilling activities in its Otjikoto licence area as well as Ondundu.
The Ondundu resource was first discovered in 1917. Tsumeb Corporation and Goldfields have carried out exploration programmes in the area in the 1980s. Surface and underground sampling and mapping was carried out by both TCL and Goldfields at the time.
According to Forsys, Ondundu is a sediment-hosted gold deposit.
OGONE TLHAGE
B2Gold told Namibian Sun that it is evaluating its options and would provide a market update of exploration results should the Ondundu resource prove to be significant, according to its spokesperson, Gretha du Plessis.
“Ondundu is a B2Gold exploration project. We are considering our options with the projects as we do with any other exploration and development projects around the world.
We are still in the very early stages of development with Ondundu and will officially publicise exploration results should the results prove to be prospective,” said Du Plessis upon enquiry.
Following the execution of the farm-in agreement, both parties agreed that B2Gold would take up a 25% stake in the project.
Du Plessis did not provide an update pertaining to the farm-in agreement and whether B2Gold's interest in changed since the execution of the farm-in agreement.
B2Gold's exploration budget for its domestic interest is nearly US$5.1 million and mainly for diamond drilling activities in its Otjikoto licence area as well as Ondundu.
The Ondundu resource was first discovered in 1917. Tsumeb Corporation and Goldfields have carried out exploration programmes in the area in the 1980s. Surface and underground sampling and mapping was carried out by both TCL and Goldfields at the time.
According to Forsys, Ondundu is a sediment-hosted gold deposit.
OGONE TLHAGE
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