Overview
| Stage | Production |
| Mine Type | Open Pit |
| Commodities |
|
| Mining Method |
|
| Production Start | ...  |
| Mine Life | 2031 |
Source:
p. 36
| Company | Interest | Ownership |
|
B2Gold Corp.
|
40 %
|
Indirect
|
|
Zoom Mineral Holdings Inc.
|
60 %
|
Indirect
|
B2Gold holds its project interest through indirectly-owned subsidiaries. B2Gold has a 40% interest in Filminera and a 100% interest in Philippine Gold Processing & Refining Corporation (“PGPRC”). The remaining 60% interest in Filminera is held by a Philippines-registered company, Zoom Mineral Holdings Inc. (“Zoom”). Filminera owns the majority of the Masbate Gold Project tenements and is responsible for the mining, environmental, social and community relations on the Masbate Gold Project site. PGPRC developed and owns the process plant on the island of Masbate and is responsible for the sale of all gold.
Contractors
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Deposit Type
- Breccia pipe / Stockwork
- Epithermal
Summary:
Masbate is considered to be an example of a low sulphidation epithermal deposit. The Masbate gold deposits that are currently being mined are centred on a 5 km to 7 km wide northwest- to southeast- oriented mineralised volcanic block which is bounded by two interpreted north-west trending fault zones. The mineralizing system being exploited in the open pit operations has a strike length of about 10 km, from Balete in the south to Pajo in the north. Mineralization has been tested to about 400 m depth.
The principal host rock to the gold mineralisation is a fractured andesitic–dacitic, tuffaceous agglomerate. Mineralisation occurs within quartz veins and associated altered and quartz-stockwork wall rocks and breccias. Gold is typically hosted in grey to white crystalline to chalcedonic quartz and is frequently associated with pyrite, marcasite, and minor amounts of chalcopyrite and sphalerite. HG veins are generally narrow (<1 m) but some may reach 20 m in width; sheeted stockwork zones can be up to 75 m in width.
Summary:
The mine is a conventional open pit operation. Mineral Reserve mining activities are expected to end in 2025 while Mineral Reserve stockpile processing is expected to continue into early 2031. The mine plan assumes that all necessary permits will be granted in support of the mining operations, and that all the required surface rights can be obtained. The open pit mining sequence involves: GC drilling; drill and blast operations; and excavation and hauling of materials to the process plant ROM pad, temporary LG ore stockpiles or WRSF. Mining operations are conducted under an owner-operator model, and activities are scheduled on a 24-hour, seven days per week basis.
An average of 34 Mtpa of ore and waste will be mined from seven different open pits. Production in 2021 was mostly from the Main Vein and Montana pits. The primary ore sources in 2022 will also be from the Main Vein and Montana pits and low-grade stockpiles.
The mining and support equipment fleet was expanded in 2017 and is currently capable of annual total movement of 35 Mtpa, to meet the rate proposed in the LoM plan.
Source:
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Flow Sheet:
Summary:
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Reserves at December 31, 2021:
Reserves are reported at cut-off grades that range from 0.36 – 0.38 g/t Au.
Mineral Resources are reported at an average cut-off grade of 0.34 g/t Au.
| Category | Tonnage | Commodity | Grade | Contained Metal |
|
Probable
|
73,500 kt
|
Gold
|
0.8 g/t
|
1,890 koz
|
|
Indicated
|
126,500 kt
|
Gold
|
0.78 g/t
|
3,180 koz
|
|
Inferred
|
27,800 kt
|
Gold
|
0.77 g/t
|
690 koz
|
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