Modern Mining July 2018

MINING News

B2Gold increases its exploration budget for Fekola

open-pit reserve. The Fekola North Extension remains open to the north. Due to the increasing size of the miner- alised area, B2Gold now intends to release a new mineral resource for the Fekola deposit, including a portion of the Fekola North Extension, early in the fourth quarter of 2018. In addition, based on the positive explo- ration results to date, B2Gold’s in-house technical team is conducting engineering and other technical studies to ascertain the potential to expand the current Fekola mine and mill facilities, and increase ton- nage throughput (thereby increasing annual gold production) if, as expected, a larger open-pit resource is confirmed by the current exploration and in-fill drilling. Results of these studies are projected to be available by year-end 2018. Fekola is B2Gold’s newest mine. On September 25, 2017, the company announced that its in-house construction team had completed construction of the Fekola mill on budget and commenced ore processing, more than threemonths ahead of the original schedule. The first gold pour was achieved on October 7, 2017 and on November 30, 2017, the mine achieved commercial production, one month ahead of the revised schedule and four months ahead of the original schedule. Fekola is projected to produce between 400 000 and 410 000 ounces of gold in 2018 at cash operating costs of between US$345 and US$390 per ounce and all-in sustaining costs (AISC) of between US$575 and US$625 per ounce.  recommendation, based on improved proj- ect economics. Specific objectives were to increase the overall mineral resources to ensure aminimumLOMof 20 years at a 2Mt/a treatment rate; and a reduction in operating costs to less than US$300/t of concentrate. The mining method will consist of con- ventional open-pit mining. The flowchart proposed for Goulamina is a conventional process for the beneficiation of spodumene- containing ores to saleable spodumene concentrates. The process is well tested and involves crushing, reflux classification, DMS, grinding, flotation, magnetic separation, flotation concentrate filtration and bulk transport to the consumer of a combined DMS/flotation concentrate. 

The processing plant at Fekola. B2Gold is conducting engineering and other technical studies to ascer- tain the potential to expand the current Fekola mine and mill facilities (photo: B2Gold).

Canada’s B2Gold Corp has announced that it has increased the Fekola North Extension zone exploration budget at its Fekola mine in Mali based on very positive exploration drill results to date. The 2018 Mali exploration budget will increase by US$3,9 million (from US$15,1 million to US$19 million) to accelerate the current Fekola North Extension zone drill programme, which is extending and infilling mineral resources to the north of the main Fekola deposit. The company is increasing the number of diamond drills from the current five rigs to eight rigs, as well as one reverse circulation (RC) rig and one aircore rig. A total of 39 000 metres has been drilled this year on the Fekola North Extension, and an additional

16 000 metres are now planned for the remainder of 2018. Exploration drilling of the Fekola North Extension has now extended mineralisa- tion over one kilometre north of the Fekola reserve pit boundary. The drilling to date has indicated that the high-grade mineralised shoot in the Fekola reserve deposit not only continues to be well mineralised over one kilometre to the north, but the shoot has now been intersected higher up, closer to surface than originally projected in the Fekola North Extension zone. These results and previous drill results indicate that the potential exists, subject to further drilling, to significantly increase open-pit resources and reserves, north of the current Fekola profitably developed as a large scale, low cost, hard rock lithium mine. The recom- mended development scenario comprises an open-cut mining operation and a 2 Mt/a mineral concentrating plant. Under this scenario, Goulamina would produce an average of 362 000 t of 6 % Li 2 O spodumene concentrate (or 53 704 t of Lithium Carbonate Equivalent (LCE)) annu- ally for the initial mine life of 16 years. This PFS follows an earlier Goulamina pre-feasibility study released in October 2017. Subsequently, Birimian advised that it would undertake further work to produce an updated PFS with a firm development

Birimian produces positive PFS on lithium project ASX-listed Birimian has announced the completion of an updated Pre-Feasibility Study (PFS) for its wholly- owned Goulamina lithium project located in Mali, the results of which demonstrate excellent project economics and significant potential for further upside.

Goulamina is located on the Torakoro permit, which covers an area of 100 km 2 and is located in southern Mali, approximately 150 km south of the country’s capital city of Bamako and 50 km west of the town of Bougouni. The PFS update, prepared by Ausenco Services, confirms that Goulamina can be

14  MODERN MINING  July 2018