B2Gold Corp. (BTO) is up after announcement of program at Mocoa project.
Shares of B2Gold Corp. (TSX: V.BTO, Stock Forum) were up 3.9% to $1.05 Thursday afternoon, after the company announced that it had started an initial 3,800 metre diamond drill program on the B2Gold Mocoa copper-molybdenum porphyry project in Colombia.
According to the company’s news release, previous diamond drilling of 18,321 metres in 31 holes by the United Nations and Ingeominas in the late 1970s to early 1980s resulted in the delineation of a “non-NI 43-101 compliant historical resource of 306 million tonnes (Mt) at 0.37% Cu and 0.061% Mo using a 0.25% Cu plus 0.025% Mo cut-off and a specific gravity of 2.7 gr/cm3.”
B2Gold Corp. says drilling will test the possible extensions of the deposit to the northeast as well as confirm previous drilling results with twin holes. The company says it “believes there is good potential to verify and increase the historical copper-molybdenum resource at Mocoa.”
In addition to the drill program at Mocoa, B2Gold is also drilling at the Gramalote and Quebradona gold projects in Colombia.
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