B2Gold Corp.

B2Gold Corp.

January 19, 2010 09:35 ET

B2Gold Corp.: Kupol West Drill Results Confirm the Presence of Multiple Gold Bearing Veins in the Moroshka Basin

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Jan. 19, 2010) – B2Gold Corp. (TSX:BTO) ("B2Gold" or the "Company"), is pleased to announce the results from the fall 2009 drill program on the Kupol West license located in Far East Russia. The recently completed program, which has confirmed the presence of a northerly trending system of gold bearing quartz veins, is a follow up to the drill results and new vein discovery announced last year at the Moroshka basin, 4 kilometres ("km") east of the Kupol mine. The previously announced hole (KW09-030), consisted of 16.96 grams per tonne ("g/t") gold and 258.09 g/t silver over 1.5 metres ("m"), followed by a second vein containing 14.92 g/t gold and 115.68 g/t silver over 1.1 m.

Seven holes, totaling 2,120 m, were drilled along five east-west oriented sections spaced 50 m apart. These holes encountered a series of steeply east dipping epithermal quartz veins over a width of 140 m within a broad zone of sheeted quartz veinlets and alteration in basaltic andesite flows and andesite agglomerates. The veins were intersected over a north-south distance of 190 m at 45 m to 220 m below surface.

The vein system remains open to the north and south. The area tested lies within a small portion of an arsenic-gold and mercury-antimony geochemical anomaly that continues north for 1.3 km, and south for 0.3 km from the current drilling. Previous shallow drilling, 1.1 km to the north encountered kaolinite, smectite and localized chalcedony flooding typical of high level epithermal alteration that indicates the vein system may continue north but at a deeper level. Similar high level alteration mapped 0.8 km to the northwest and adularia-sericite alteration mapped 1 km to the northeast suggests potential for other vein systems in the Moroshka basin.

The veins encountered comprise mottled to banded quartz containing pyrite, marcasite, silver sulphosalts, sphalerite, pyrargyrite and acanthite. The vein mineralogy and the silver to gold ratios are similar to those at the adjacent Kupol deposit. Results from all seven holes are as follows:

Hole # From
Length (1)
KW09-032 No significant results
KW09-033 251.8 252.6 0.8 6.59 287.06
KW09-034 54.9 55.8 0.9 8.94 53.66
KW09-034 179.2 179.5 0.3 9.24 547.36
KW09-035 No significant results
KW09-036 54.7 57.2 2.5 13.63 101.13
KW09-036 79.4 79.7 0.3 41.36 25.24
KW09-036 226.0 226.7 0.7 9.08 627.72
KW09-036 272.0 272.7 0.7 13.16 384.44
KW09-036 276.7 277.6 0.9 14.90 227.30
KW09-037 246.3 247.1 0.8 113.70 201.70
KW09-037 258.5 262.5 4.0 12.71 53.51
KW09-038 303.4 305.1 1.7 5.98 58.65

(1) True thicknesses of these drill intercepts are not known at this time

B2Gold plans to commence a 4,200 m diamond drilling program in March 2010 to follow up on these results from the Moroshka basin. An additional 1,200 m of diamond drilling is planned on the Kupol East license on the Sinter / Tokai target located 14 km east of the Moroshka basin.

B2Gold has the right to acquire one half of Kinross Gold Corporation's ("Kinross"), approximately 75%, indirect interest in the Kupol East and West licenses in Chukotka, Russia. These licenses cover an area of 408.1 square km surrounding and adjacent to the high-grade Kupol gold and silver mine that was being developed by Bema Gold Corporation at the time of the Kinross takeover. The Kupol mine commenced production in May of 2008. B2Gold is the operator of the exploration conducted on the Kupol East and West licenses.

The drilling program at the Kupol West and Kupol East properties is reviewed and the results approved by Tom Garagan, B2Gold's Qualified Person under National Instrument 43-101. The exploration program utilizes an extensive QAQC (quality assurance and quality control) protocol for assaying and core sample handling that consists of the systematic insertion of blanks, standards and duplicates as well as using a secondary laboratory for regular check assaying. Core samples are cut with a diamond saw with two thirds of the core placed in sealed bags and delivered directly to the Kinross Kupol mine laboratory for sample preparation and assaying for gold and silver by fire assay with gravimetric finish. External laboratory check assaying for the program is performed by ISO 17025 and Russian GOST certified Stewart Group Geo Analytics in Moscow, Russia.

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".


"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
    B2Gold Corp.
    Kerry Suffolk
    Manager, Investor Relations