B2Gold strikes new Goose gold zone
B2Gold found a new high-grade gold zone at Goose mine in Nunavut, recovering from an April fire.
B2Gold has discovered a new high-grade gold zone at its Goose mine in Nunavut, marking a positive development as the operation rebounds from a crusher fire. Drillhole 26GSE750Z2 revealed the Tattuk zone, located 150 meters down-plunge from existing Nuvuyak mineralization, grading 10.94 grams gold per tonne at a depth of 1,196 meters.
Other drilling at Goose returned impressive results, with 21.23 meters grading 19.12 grams gold at Llama and 6.9 meters at 11.88 grams gold at Nuvuyak. This infill work increases confidence in the resources that could be incorporated into the mine plan. B2Gold's President and CEO, Mike Cinnamond, expressed confidence in the Back River gold district exploration program, highlighting the discovery of the new Tattuk zone as a promising development for future resource additions and mine-life extensions.
The company's shares fell 2.6% to $7.53 apiece, but Scotiabank analyst Ovais Habib rated B2Gold as "sector outperform" with a $10 target. The mine is expected to reach nameplate capacity in the second half of 2027, and its 2026 production forecast remains intact. B2Gold has budgeted US$51 million for Back River exploration this year, with the discovery of the Tattuk zone further supporting the company's growth prospects in the region.
Written by urgent.news from Mining.com's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
