Senior gold producer B2Gold has finalized its C$1.2 billion acquisition of Sabina Gold & Silver, which gives the company control of the Back River Gold District located in southwestern Nunavut, Canada.
Consisting of five mineral claim blocks along an 80-kilometer belt, the district is home to the fully permitted, construction-ready Goose project. The project contains measured and indicated mineral resources of 5.1 million ounces of gold and inferred mineral resources of 1.8 million oz. of gold.
“The closing of the acquisition of Sabina and the Back River Gold District represents a milestone for B2Gold as we continue to build a low-cost responsible senior gold mining company. We are excited to add such a high-quality, high-grade gold project in a top mining jurisdiction to our global portfolio, and we are thrilled to welcome the exceptional Sabina team into B2Gold,” said B2Gold President and CEO Clive Johnson.
“We also look forward to working with the Kitikmeot Inuit Association and local communities as we advance the construction of the Goose project and our development strategy. As we continue with the construction of the Goose project and move toward commencement of production in 2025, our exploration program will also start immediately. We aim to further define the Back River Gold District’s untapped potential and unlock the significant value we see and opportunities for growth.”
B2Gold has operating gold mines in Mali, Namibia and the Philippines and numerous exploration and development projects in various countries including Canada, Mali, Finland and Uzbekistan.