B2Gold Corp.
TSX : BTO

B2Gold Corp.

January 21, 2010 18:52 ET

B2Gold Announces Exploration Results Near the Orosi Mine, Nicaragua

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Jan. 21, 2010) - B2Gold Corp. (TSX:BTO) ("B2Gold" or the "Company"), is pleased to announce assay results from the Jabali vein trenching program located nine kilometers east of the 100% owned, Orosi Mine in Nicaragua. The Orosi Mine commenced production in January 2010.

The Jabali vein system is at the east end of a 20 kilometre long belt of gold bearing veins on the Orosi property. Jabali is an east-west trending, low sulphidation epithermal quartz vein system which was mined for its high grade ore from 1862 to 1956. It has been traced over a distance of 6.2 kilometres. 11 trenches testing the remaining quartz vein stockwork system at surface have been completed over two areas along two kilometres of the strike of the system. Highlights from the trenching include trench JBTR09-05 which intersected 13.4 metres grading 3.90 g/t gold and trench JBTR09-11 which intersected 15.60 metres grading 2.78 g/t gold. Trench JBTR09-10 cut 18 metres of 11.04 g/t gold within historical mine dump colluvium (derived from local historic mining). Additional trenching to test the remainder of the strike length is ongoing.

The western portion of the Jabali vein system has been tested by nine trenches (JBTR09-01 to JBTR09-09) over a strike length of 530 metres. The average width of the vein and mineralized stockwork is 20 to 45 metres. The western portion of the Jabali vein system is open on strike in both directions.

In addition, two trenches have been completed on the central portion of the Jabali vein system located 1.5 kilometres east of the western trenches. The two trenches have tested a strike length of 125 metres with additional trenches underway. The average width of the central portion of the Jabali vein system is 13 metres and the zone is open in both directions along the east-west strike and to the north.

Complete assays are available for the first ten trenches and partial results are available for trench JBTR09-11. Highlights of the trenching results are as follows:


TRENCH

From

To

Metres
g/t
Gold
g/t
Silver

Comments
JBTR09-01 10.20 21.90 11.70 3.16 7.26 Quartz vein & stockwork
JBTR09-02-A 6.40 10.50 4.10 2.52 10.57 Quartz vein & stockwork
JBTR09-02-A 15.50 18.50 3.00 1.74 30.42 Quartz vein & stockwork
JBTR09-03-B 10.50 12.40 1.90 4.85 17.70 Mine fill
JBTR09-04 1.00 22.35 21.35 2.47 39.74 Quartz vein & stockwork with 33% mine fill
JBTR09-05 3.50 5.50 2.00 46.70 73.10 Mine dump colluvium
JBTR09-05 40.40 53.80 13.40 3.90 25.09 Quartz vein stockwork with 7% mine fill
JBTR09-05 53.80 62.30 8.60 1.18 22.62 Mine dump colluvium
JBTR09-06 0.00 5.00 5.00 2.18 14.23 Mine dump colluvium
JBTR09-06 21.85 32.10 10.25 1.83 32.17 Quartz vein & stockwork
JBTR09-07 15.70 27.00 11.30 1.73 38.61 Mine dump colluvium 72%, quartz vein 28%
JBTR09-08 2.30 16.80 14.50 1.45 31.63 Quartz vein & stockwork with 10% mine fill
JBTR09-10 0.00 18.00 18.00 11.04 6.78 Mine dump colluvium
JBTR09-10 32.50 40.50 8.00 2.41 2.71 Quartz vein & stockwork
JBTR09-11 0.00 6.00 6.00 2.52 4.97 Mine dump colluvium, assays pending to south
JBTR09-11 17.35 30.75 13.40 3.54 7.76 Mine dump colluvium, assays pending to north
JBTR09-11 30.75 46.35 15.60 2.78 8.10 Quartz vein & stockwork with 30% mine fill

In 2010, the Company plans to develop and test drill targets along the Jabali vein system as well as other high priority veins surrounding the Orosi Mine. The company believes the Jabali area has the potential for both high grade underground, and low grade open pittable targets. Most of the near surface high grade vein material exposed in trenching was historically partially mined, but remain open to depth. In addition the trenching indicates that the lower grade veins and stockwork zones are un-mined.

The trenching program at the Jabali vein deposit is reviewed and the results approved by Tom Garagan, B2Gold's Qualified Person under National Instrument 43-101. The Jabali trenching program utilizes extensive QA/QC (quality assurance and quality control) protocols for assaying and sample handling that consist of the systematic insertion of blanks, standards and duplicates as well as using a secondary laboratory for regular check assaying. The trenches are dug with an excavator and continuous panel samples are collected from the walls. The samples are placed in sealed bags and brought to the Orosi Mine preparation laboratory where they are dried, crushed and pulverized. Pulp samples are then shipped directly to ALS Chemex Labs in Vancouver, British Columbia, Canada for gold and silver fire assay. Check assays are sent out on a quarterly basis to Acme Laboratories in Vancouver.

About B2Gold

B2Gold Corp. is a Vancouver based gold producer with two mines in Nicaragua and a strong portfolio of development and exploration assets in Nicaragua, Colombia, Costa Rica and Far East Russia.

In addition to its near term production growth profile, B2Gold's corporate objective is to build further shareholder value through the exploration and development of existing projects and additional accretive acquisitions, capitalizing on the extensive experience and relationships that management has developed over the past 25 years. B2Gold trades on the Toronto Stock Exchange under the symbol "BTO".

ON BEHALF OF B2GOLD CORP.

Clive T. Johnson, President and Chief Executive Officer

The securities described herein have not been and will not be registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements.

Some of the statements contained in this release are forward-looking statements, such as estimates and statements that describe the Company's future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Since forward-looking statements address future events and conditions, by their very nature, they involve inherent risks and uncertainties. Actual results in each case could differ materially from those currently anticipated in such statements.

The Toronto Stock Exchange neither approves nor disapproves the information contained in this News Release.

Contact Information

  • B2Gold Corp.
    Ian MacLean
    Vice-President, Investor Relations
    604-681-8371
    or
    B2Gold Corp.
    Kerry Suffolk
    Manager, Investor Relations
    604-681-8371
    www.b2gold.com