B2Gold sets aside US$ 3m for Otjikoto drilling

• By Erasmus Shalihaxwe

B2GOLD Namibia has allocated a budget of US$ 3 million for exploration for the 2023 financial year, which will include the probing of 16,320 metres using the diamond drilling technique and 3 400 metres through reverse circulation drilling of Rotary Air Blast drilling at the Otjikoto Mine.

Much of the diamond drilling exercise will target the southern extension of the Otjikoto structure.

According to a 2022 Fourth Quarter report released this year which highlights the mining company’s 2022 activities and planed activities for this year, the company’s Otjikoto mine is expected to process a total of 3.

4 million tonnes of Ore at an average grade of 1.87 grams per tonne with a process gold recovery of 98 percent.

The report highlights an expected spike in processed Ore in the first half of 2023 which will be sourced from the Otjikoto pit and the Wolfshag underground mine, supplemented by existing medium and high-grade ore stockpiles.

“Otjikoto’s gold production is expected to be weighted approximately 60 percent in the second half of 2023 due to the timing of high grade Ore mining from the Otjikoto pit and increased Ore volumes from the Wolfshag underground mine.”

The report states an anticipated decrease in Otjikoto’s sustaining costs for 2023 reflecting benefits of processing higher grade ore from the Otjikoto pit and the Wolfshag underground mine.

Capital expenditur