Projects

Fekola Complex – Mali

The Fekola Complex is comprised of the Fekola Mine (Medinandi permit hosting the Fekola and Cardinal pits and Fekola underground) and Fekola Regional (Anaconda Area (Bantako, Menankoto and Bakolobi permits) and the Dandoko permit).

Based on preliminary planning, the Anaconda Area could provide selective higher grade saprolite material (average annual grade of up to 2.2 g/t gold) to be trucked approximately 20 km and fed into the Fekola mill at a rate of up to 1.5 million tonnes per annum. Trucking of selective higher-grade saprolite material from the Anaconda Area to the Fekola mill will increase the ore processed and has the potential to generate approximately 80,000 to 100,000 ounces of gold production per year from the Fekola Regional sources.

During the year ended December 31, 2023, the State of Mali introduced a new mining code (the “2023 Mining Code”). Receipt of a mining permit for the Fekola Regional licenses remains outstanding pending finalization of an implementation decree for the new 2023 Mining Code by the State of Mali. The Company does not currently forecast any production from Fekola Regional in the Company’s 2024 guidance, with production now expected to commence at the beginning of 2025. If an exploitation license for Fekola Regional is received in the first half of 2024, there is potential for 2024 Fekola Complex production to be supplemented with up to 18,000 ounces of higher-grade ore from Fekola Regional. In addition, if the Company is successful in discovering additional sulphide ore across the Fekola Complex, the trucking of oxide ore from Fekola Regional to the Fekola mill may potentially be extended.

The haul road from Bantako North to Fekola is complete and construction of the mining infrastructure (warehouse, workshop, fuel depot, and offices) will be completed in the first quarter of 2024. Mining operations will commence upon receipt of an exploitation license, with initial gold production approximately three months after commencement.

On June 2023, an updated Mineral Resource estimate for the Anaconda Area, located approximately 20 km from the Fekola Mine, was announced. The June 2023 Mineral Resource estimate included a significantly increased Mineral Resource estimate for the Anaconda Area, comprised of the Menankoto permit, the Bantako North permit and the Bakolobi permit. The updated Mineral Resource estimate includes a significant increase in the oxide Mineral Resources, and an initial sulphide Indicated Mineral Resource estimate. The June 2023 Mineral Resource estimate includes Indicated Mineral Resource estimate of 57,000,000 tonnes at 1.11 g/t gold for 2,030,000 ounces of gold, and Inferred Mineral Resource estimate of 46,000,000 tonnes at 1.33 g/t gold for 2,000,000 ounces of gold, constrained within a conceptual pit run at US$1,800 per ounce gold.

Supporting Documents:

For the latest details and news releases pertaining to the Fekola Complex:

  • Click here for B2Gold's Q4 and Full Year 2023 Earnings news release (dated February 21, 2024)
  • Click here for B2Gold’s news release: B2Gold Announces Updated and Significantly Increased Mineral Resource Estimate for the Anaconda Area, Located Near the Fekola Mine, Mali (dated June 21, 2023)

For a more detailed overview of the Fekola Complex, please refer to the following most recent company documents:

  • Click here for B2Gold’s 2024 Annual Information Form (dated March 14, 2024)
  • Click here for B2Gold’s Q4 and Full Year 2023 Management Discussion & Analysis (dated December 31, 2023)
  • Click here for B2Gold’s Q4 and Full Year 2023 Financial Statements (dated December 31, 2023)

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