B2Gold Received New Exploration Permit in Mali

SEATTLE (Scrap Monster): B2Gold Corp. announced that its Malian subsidiary has been granted permit by the country’s administration a new exploration permit covering the same perimeter as the Menankoto permit.

According to company press release, the exploration on the Menankoto Permit is expected to commence by February 15, 2022. Initially, two drill rigs will be deployed, with additional rigs to be deployed shortly. During the year, the company will continue drilling to infill and extend the saprolite resource area. By late 2022, a pit situated on the Anaconda area will be able to provide saprolite material, which will be fed into the Fekola mill. Incidentally, the company has budgeted $33 million for the year to facilitate this.

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Earlier in December 2021, B2Gold and the Government of Mali had reached an agreement in principle relating to the dispute on the Menankoto Permit, by which the government had agreed to grant a new exploration permit. In return, the company had agreed to withdraw the international arbitration proceedings that its Malian subsidiary commenced against the Republic of Mali.

Also, the company announced an updated and significantly increased Mineral Resource estimate for the Cardinal-FMZ deposits. The updated Inferred Mineral Resource estimate stood at 19,000,000 tonnes at 1.21 g/t gold for 740,000 ounces of gold