B2Gold announced positive results from the Preliminary Economic Assessment, or PEA, for the Gramalote gold project in Colombia. The Gramalote property is a 51% AngloGold Ashanti and 49% B2Gold joint venture with AngloGold Ashanti as the project manager. Gramalote is located 230 kilometers northwest of Bogota and 80 km northeast of Medellin in central Colombia. The Company is pleased to announce AngloGold Ashanti has completed a new Joint Ore Reserves Committee and National Instrument 43-101 compliant Mineral Resource estimate for Gramalote Central Zone, Monjas West and Trinidad. The new mineral resource estimate was utilized in the preparation of the PEA. Total Measured and Indicated Mineral Resources at Gramalote Central and Monjas West at a 0.15 gram per tonne gold cut-off, within a $1,600 per ounce gold optimized Whittle pit consists of 132.7M tonnes grading 0.63 g/t gold for a total of 2.69M troy ounces of gold. The Gramalote Central, Monjas West and Trinidad Inferred Mineral Resource is 239.7M tonnes grading 0.44 g/t gold for a total of 3.36M troy ounces of gold using similar parameters as the Measured and Indicated Mineral Resource.
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