B2Gold earmarks $10 million for Antelope development
Canadian miner B2Gold is supporting the development of its Antelope deposit to the tune of $10 million for 2025 in an effort to derisk the project, it announced recently.
It follows the recent approval of a budget to develop the project, paving the way for work planning to be conducted.
“The company has approved an initial budget of up to $10 million for 2025 to de-risk the Antelope deposit development schedule by advancing early work planning, project permits, and long lead orders. Technical work including geotechnical, hydrogeological, and metallurgical testing is anticipated to be completed over the next several months,” B2 Gold said in an update to the market.
The mining company would work closely with stakeholders to ensure it will be able to deliver the project.
“Cost and schedule assumptions will continue to be refined by working with suppliers and contractors, including running a competitive bid process for the development phase of the Antelope deposit,” B2Gold said.
“In addition, as part of the $7 million exploration budget for 2025, exploration drilling will continue to advance the Antelope deposit, including closely spaced drill holes to confirm the Mineral Resource, and wider spaced drill holes along strike with the aim of extending the deposit to the north and south,” it added.
B2Gold is banking its hopes on the Antelope deposit to supplement gold production at its Otjikoto mine, it said.
It follows the completion of an initially inferred mineral resource assessment completed in 2024, it said in an update to the market.
“Following the successful completion in 2024 of an initial Inferred Mineral Resource Estimate for the Springbok Zone, which is the southernmost shoot of the recently discovered Antelope deposit located approximately 3 kilometres (km) south of the Otjikoto Phase 5 open pit at the Otjikoto Mine in Namibia, the Company commenced a PEA which is expected to be completed early in the first quarter of 2025,” B2Gold said.
Pending the outcome of the PEA, B2Gold said mining of the Antelope deposit, which encompasses the Springbok Zone, was expected to commence as early as 2028.
It follows the recent approval of a budget to develop the project, paving the way for work planning to be conducted.
“The company has approved an initial budget of up to $10 million for 2025 to de-risk the Antelope deposit development schedule by advancing early work planning, project permits, and long lead orders. Technical work including geotechnical, hydrogeological, and metallurgical testing is anticipated to be completed over the next several months,” B2 Gold said in an update to the market.
The mining company would work closely with stakeholders to ensure it will be able to deliver the project.
“Cost and schedule assumptions will continue to be refined by working with suppliers and contractors, including running a competitive bid process for the development phase of the Antelope deposit,” B2Gold said.
“In addition, as part of the $7 million exploration budget for 2025, exploration drilling will continue to advance the Antelope deposit, including closely spaced drill holes to confirm the Mineral Resource, and wider spaced drill holes along strike with the aim of extending the deposit to the north and south,” it added.
B2Gold is banking its hopes on the Antelope deposit to supplement gold production at its Otjikoto mine, it said.
It follows the completion of an initially inferred mineral resource assessment completed in 2024, it said in an update to the market.
“Following the successful completion in 2024 of an initial Inferred Mineral Resource Estimate for the Springbok Zone, which is the southernmost shoot of the recently discovered Antelope deposit located approximately 3 kilometres (km) south of the Otjikoto Phase 5 open pit at the Otjikoto Mine in Namibia, the Company commenced a PEA which is expected to be completed early in the first quarter of 2025,” B2Gold said.
Pending the outcome of the PEA, B2Gold said mining of the Antelope deposit, which encompasses the Springbok Zone, was expected to commence as early as 2028.
