B2Gold Corp. & Radius Gold Inc. Reports Positive Exploration Drill Results at the Trebol Project, Nicaragua. Highlights Include Hole TR-11-047 Containing 13.08 Grams per Tonne Gold Over 7 Metres
17.05.2011 | Marketwire
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 05/17/11 -- B2Gold Corp. (TSX: BTO) (OTCQX: BGLPF) ('B2Gold' or the 'Company') and Radius Gold Inc. (TSX VENTURE: RDU) ('Radius Gold'), are pleased to announce positive assay results from the initial 2011 exploration drilling program at the Trebol Project in Nicaragua. B2Gold has the right to earn a 60% interest from joint venture partner Radius Gold.The over 3,000 metre diamond drilling program has been focused on three zones of low sulfidation gold occurrences in altered volcanic rocks covering a strike length of over five kilometres ('km'). These results confirm the Trebol Property's potential to host, at or near surface, shallow dipping gold mineralization that could potentially be mined with very low strip ratios.
Mineralization throughout the Trebol area is characterized by shallow to moderately dipping tabular shaped vein and hydrothermal breccia zones within andesite. Outcropping horizons of the siliceous material have yielded impressive gold values in the trenching (see B2Gold press release dated November 15, 2010) and the drilling has shown that many of these zones extend up to 100 metres down dip and show continuity over distances of several hundreds of metres of strike length. Due to the shallow dips associated with the gold mineralization, most of mineralization is near surface and mostly oxidized.
The three zones, drilled to date are Cerro Domingo, the Paola Zone, and the Trebol North Zone. Drill holes contain up to 13.08 grams per tonne ('g/t') gold over 7.00 metres in hole TR-11-047. Drilling by Radius Gold in 2008 first located the Cerro Domingo Zone and this has been confirmed and expanded in the recent drilling. The 2011 drilling campaign cut mineralization in the Cerro Domingo, Paola and Trebol North Zones with drill holes containing up to 1.96 g/t gold over 28.55 metres in hole TR-11-014 in the Cerro Domingo Zone, up to 8.86 g/t gold over 7.75 metres in hole TR-11-028 in the Paola Zone and up to 13.08 g/t gold over 7.00 metres in hole TR-11-047 in the Trebol North Zone. Drill intervals are highlighted below.
B2Gold Drill Holes
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Gold
From To Interval Gold (g/t capped
Zone Drill Hole (metres) (metres) (metres) (g/t) at 25 g/t)
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Cerro Domingo TR-11-011 3.40 11.27 7.87 3.14 2.25
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including 5.45 5.85 0.40 42.38 25.00
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TR-11-014 4.35 32.90 28.55 1.96 1.96
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including 10.60 15.90 5.30 5.66 5.66
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and 36.80 44.60 7.80 0.95 0.95
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TR-11-015 48.60 65.36 16.76 0.86 0.86
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including 48.60 53.11 4.51 1.36 1.36
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TR-11-017 4.57 22.00 17.43 0.82 0.82
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(i)TR-11-019 0.75 16.50 15.75 2.43 2.43
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including 4.50 9.00 4.50 4.10 4.10
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TR-11-020 0.00 10.00 10.00 1.65 1.65
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TR-11-021 0.50 22.50 22.00 1.58 1.58
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TR-11-022 15.20 22.76 7.56 1.31 1.31
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Paola Zone TR-11-027 28.85 36.50 7.65 0.94 0.94
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TR-11-028 4.00 11.75 7.75 8.86 7.77
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including 6.75 10.75 4.00 15.82 13.70
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TR-11-029 4.50 16.15 11.65 3.06 3.06
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including 7.50 10.50 3.00 5.96 5.96
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TR-11-031 36.50 40.20 3.70 3.63 3.63
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TR-11-036 29.00 36.00 7.00 1.76 1.76
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TR-11-037 30.60 37.00 6.40 3.34 3.34
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TR-11-038 7.00 15.70 8.70 2.91 2.91
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(ii)TR-11-039 9.40 12.20 2.80 1.08 1.08
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and 16.70 18.20 1.50 12.24 12.24
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Trebol North (i)TR-11-047 14.50 25.91 11.41 8.39 5.89
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including 14.50 21.50 7.00 13.08 9.01
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(i) Indicates some intervals may have had poor recoveries
(ii)Resassay pending due to low standard failure
Previous Radius Gold Drill Holes
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Gold
From To Interval Gold (g/t capped
Zone Drill Hole (metres) (metres) (metres) (g/t) at 25 g/t)
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Cerro Domingo (i)TRDH-08-001 12.19 38.25 26.06 1.36 1.36
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TRDH-08-005 0.00 11.25 11.25 1.65 1.65
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and 16.76 23.20 6.44 6.36 6.36
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including 18.75 22.56 3.81 9.24 9.24
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TRDH-08-008 58.64 59.59 0.95 3.93 3.93
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and 68.08 69.00 0.92 11.44 11.44
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TRDH-08-02A 6.09 16.76 10.67 2.23 2.23
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TRDH-08-004 3.30 19.81 16.51 1.80 1.80
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TRDH-08-006 2.15 7.97 5.82 1.02 1.02
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(i) Indicates some intervals may have had poor recoveries
The 2011 drill campaign at Trebol has successfully identified several areas that will require additional drilling to define the extent of the mineralization. The mineralization remains open to the north and south and in the covered areas between the three zones. In addition, the Company's geologists continue to discover more low sulfidation epithermal gold, outcrop and float occurrences within the concession that contain plus 1.00 g/t gold assays in grab and chip samples over 11.5 km of the 22 km total strike length of the trend. In addition, a parallel zone has been located three km east of Cerro Domingo where preliminary grab sampling of similar siliceous material has yielded values up to 3.00 g/t gold.
Exploration is ongoing at Trebol and will continue as B2Gold geologists compile the recent drill data and plan the next round of trenching and drilling.
Samples for Trebol are submitted with blanks and industry certified standards inserted in the field and prior to reception at Inspectorate's prep lab in Managua. Pulps are then analyzed at Inspectorate's labs in Reno, Nevada. Check assays are currently being selected now that the drilling program has been completed and will be sent to ALS labs in Vancouver, Canada. Except where noted, all results stated in this announcement have passed B2Gold's quality assurance and quality control ('QA/QC') protocols.
The exploration programs for the Company are reviewed and the results approved by Tom Garagan, B2Gold's Qualified Person under National Instrument 43-101.
ON BEHALF OF B2GOLD CORP.
Tom Garagan, Senior Vice President of Exploration
ON BEHALF OF RADIUS GOLD INC.
Simon Ridgway, President and Chief Executive Officer
For more information on B2Gold please visit the Company web site at www.b2gold.com.
For more information on Radius Gold please visit the Radius Gold's web site at www.radiusgold.com.
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.
Contacts:
B2Gold Corp.
Ian MacLean
Vice President, Investor Relations
604-681-8371
B2Gold Corp.
Kerry Suffolk
Manager, Investor Relations
604-681-8371
www.b2gold.com
Radius Gold Inc.
Ralph Rushton
Investor Relations
604-801-5432 or Toll Free: 1-888-627-9378
info@radiusgold.com
Radius Gold Inc.
Erin Ostrom
Investor Relations
604-801-5432 or Toll Free: 1-888-627-9378
info@radiusgold.com
www.radiusgold.com
