Goose Project: B2Gold estimates to start producing gold early next year

B2Gold’s Goose Project in Nunavut, Canada.

The mine is 100% owned by B2Gold and was acquired as part of the deal with Sabina Gold and Silver.

The Goose project in Nunavut is on track to begin gold production in the first quarter of 2025. The mine is 100% owned by B2Gold, is located in the Back River gold district and was acquired as part of the agreement with Sabina Gold and Silver earlier this year.

All long-life items for the 2024 construction season have been received at the company’s cargo consolidation point, prepared for ship transportation, and sea transportation is underway.

Construction capital expenditures remain on budget, with the June 2023 estimate of $800 million, plus an additional $90 million to accelerate underground development. About US$530 million has been spent so far on the project. The transport also includes 24 million liters of diesel. The company is also evaluating the potential for wind power generation at Goose.

Company plans

The accelerated underground mining plan will increase average gold production in the first five years of exploitation to more than 300,0009 ounces annually. Underground mining is taking place at the Umwelt deposit, while open pit mining is progressing at the Echo deposit, according to B2Gold. The Echo deposit will be exploited and the ore will be stockpiled before the factory is commissioned to provide waste storage capacity.

Other surface infrastructure is underway, in particular the earthworks necessary to extend the runway to 1,525 meters. Preparations for the winter ice rink are also very advanced.

B2Gold teams plan to begin construction of the ice rink in the center and work simultaneously on each end, a plan that will allow work to be completed sooner than in previous seasons. The steel structure for the mill building and truck shop is also being erected.

B2Gold has also completed 11,000 meters of drilling in 44 holes this year. Drilling has focused on testing the Umwelt and Llama deposits to expand resources. Several regional targets have also been drilled.

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