Name of the Project
Fekola gold mine expansion project.

Location
Mali.

Project Owner/s
B2Gold.

Project Description
Fekola has total mineral reserves of 56.73-million tonnes grading 1.74 g/t gold and indicated resources of 147.6-million tonnes grading 1.33 g/t gold, as well as inferred resources of 85.51-million tonnes grading 1.12 g/t of gold.

The project comprises the Fekola mine, with the Medinandi permit hosting the Fekola and Cardinal zones; and Fekola Regional, with the Anaconda Area hosting the Bantako, Menankoto, Bakolobi and Dandoko permits.

B2Gold is progressing an engineering study of a Fekola Regional standalone mill and oxide processing facilities, expected to be located on the Anaconda Area.

Construction of a standalone oxide mill would constitute Phase 2 of the Fekola Regional development plan. The engineering study will be based on processing four-million tonnes a year of saprolite and transitional (oxide) resources.

The optimization study analysis indicates that the combined Fekola mine and Fekola Regional processing facilities could produce more than 800 000 oz/y of gold from the Fekola Complex, subject to the delineation of additional mineral resources and development, the completion of feasibility studies and the receipt of all necessary regulatory approvals and permits.

Potential Job Creation
Not stated.

Net Present Value/Internal Rate of Return
Not stated.

Capital Expenditure
Not stated.

Planned Start/End Date
Not stated.

Latest Developments
From January 2022 until March 31, 2023, B2Gold has completed about 120 000 m of drilling at the Anaconda Area, which has included infill drilling to upgrade a significant portion of the inferred oxide resources to the indicated category, as well as extending oxide and sulphide resources in the area.

An updated Anaconda Area mineral resource estimate is under way and scheduled to be completed by the end of the second quarter of 2023. Consequently, to allow for the incorporation of this updated mineral resource estimate into the engineering study, results of the study are now expected in the fourth quarter of 2023. 

Key Contracts, Suppliers and Consultants
None stated.

Contact Details for Project Information
B2Gold, tel +1 604 681 8371 or email investor@b2gold.com.