B2Gold has initiated a preliminary economic assessment (PEA) for the Springbok Zone, part of the Antelope deposit, with an eye on starting mining operations in 2026.
The Antelope deposit, located approximately three kilometers south of the Otjikoto open pit, includes the Springbok and Oryx Zones, along with a potential third structure known as Impala.
The company expects to complete the PEA in the first half of 2025. In the second quarter of 2024, B2Gold released an initial inferred mineral resource estimate for the Springbok Zone, identifying 1.75 million tons grading at 6.91 g/t gold, amounting to 390,000 ounces. This resource was deemed sufficient to proceed with the economic assessment.
B2Gold projects that the Antelope deposit could significantly enhance gold production at the Otjikoto Mine. By supplementing low-grade stockpile processing with high-grade ore from the Antelope deposit, the company aims to increase annual gold output to over 100,000 ounces from 2026 through 2031.
Should the PEA and permitting process yield positive results, mining at the Springbok Zone could start in 2026, with additional exploration in the larger Antelope deposit further supporting Otjikoto’s gold production.
Separately, B2Gold’s Namibian subsidiary announced in April 2023 the phased closure of Otjikoto Mine due to declining reserves. This decision was confirmed in a joint statement by Eric Barnard, the mine’s general manager, and John Roos, B2Gold’s country manager.
