Name of the Project
Back River Gold – Goose mine gold project.

Location
Back River district, in Nunavut, Canada.

Project Owner/s
Canadian mining company B2Gold.

Project Description
The Back River gold district comprises 11 mineral claims blocks along an 80 km belt. Construction is under way at Goose, the most advanced project in the district.

Based on the mineral reserve life-of-mine (LoM) plan, B2Gold is evaluating a flotation/concentrate leach process as a potential option to increase gold recovery and reduce operating costs. 

The company is starting a study on the installation of a semiautogenous grinding (SAG) mill, to be paired in conjunction with the existing 4 000 t/d ball mill, which could potentially expand mill throughput capacity.

B2Gold believes that the addition of a SAG mill could potentially result in an increase in the mill throughput, from 4 000 t/d to 6 000 t/d, which, in turn, could result in an increase in average yearly gold production.

The miner further plans to evaluate underground and openpit mining strategies to lower costs and capture additional existing mineral resources into the mine plan.

The mineral reserve estimate includes probable reserves of 11.3-million tonnes grading 6.82 g/t gold for a total of 2.48-million ounces of gold.

Average yearly gold production is estimated at 270 000 oz over the mineral reserve LoM of nine years.

The company is also evaluating the viability of building and running the Goose project winter ice road on a less than yearly basis.

Potential Job Creation
Not stated.

Net Present Value/Internal Rate of Return
The project has an estimated after-tax net present value, at a 5% discount rate, of C$1.1-billion and an internal rate of return of 28%, with a payback of 2.3 years.

Capital Expenditure
C$1.54-billion.

Planned Start/End Date
Construction and development are on schedule for first gold pour in the second quarter of 2025, followed by ramp-up to commercial production, expected in the third quarter of 2025. 

Latest Developments
A total of $32-million is budgeted for exploration at the Back River gold district in 2025, of which $21-million is allocated to the Goose project. 

Key Contracts, Suppliers and Consultants
None stated.

Contact Details for Project Information
B2Gold, tel +1 604 681 8371 or email investor@b2gold.com.