B2Gold Announces Extensive Drilling Plan for Antelope Underground Project in 2024
B2Gold plans to drill 39,000 meters at the Antelope underground project in 2024. The Antelope Deposit is located approximately 3 km south of the Phase 5 open pit at the Otjikoto Mine.
In 2023, B2Gold completed 20,715 meters of drilling in 37 holes at the Antelope deposit, which includes the Springbok Zone, with intersections of 12.88 g/t Au over 7.60 meters, and the Oryx Zone, with 9.86 g/t Au over 7.48 meters.
In January 2024, the company announced positive exploration results from the Antelope deposit, suggesting its potential for underground development.
The Canadian company reports 28 positive exploration results, indicating that the Antelope Deposit could be developed into an underground mining operation, potentially contributing to gold production at Otjikoto by 2026. B2Gold has allocated US$9 million for exploration at Otjikoto in 2024.
In April 2023, B2Gold announced that the Otjikoto open-pit mine would likely reach its end-of-life in 2024, with mining output ramping up to 50% of production capacity that year.
The company plans to continue processing and milling low-grade stockpiles until approximately 2031. Additionally, underground mining operations at Wolfshag are expected to continue through 2026, with the potential to extend beyond that.
B2Gold acquired the Otjikoto project in 2011 and began construction in 2013. Open-pit production started in 2014, and Wolfshag underground production commenced in 2022.
The Otjikoto Mine produced a record 81,111 ounces of gold in the fourth quarter of 2023, contributing to an annual production of 208,598 ounces, near the upper end of its guidance range of 190,000 to 210,000 ounces.
