The Government of Mali has recently granted B2Gold’s Malian subsidiary a new exploration permit covering the same perimeter as the Menankoto permit, which together with the Bantako North permit comprises the Anaconda area, located 20 kilometers (km) from the Fekola mine. The company also released an updated and significantly increased mineral resource estimate for the Cardinal-FMZ deposits, located approximately 500 meters (m) from the Fekola resource pit.
Exploration on the Menankoto Permit is expected to start by February 15, initially with two drill rigs and additional drill rigs to be deployed shortly thereafter, with drilling continuing on the Bantako North permit.
In 2022, the company will continue drilling to infill and extend the saprolite resource area and to follow up on the sulphide mineralization at the Anaconda area, including the Mamba, Adder and several other targets below the saprolite mineralization in 2022.
The company has budgeted $33 million in 2022 to facilitate Phase 1 saprolite mining at the
Anaconda area.
The government agreed it would grant a new exploration permit covering the same perimeter as the Menankoto Permit to a new Malian subsidiary of B2Gold, and B2Gold agreed to withdraw the international arbitration proceedings that its Malian subsidiary commenced against the Republic of Mali.
