08:27 AM EDT, 06/20/2024 (MT Newswires) -- B2Gold ( BTG ) was last seen up 1.6% in premarket New York trading after the company on Thursday released an initial mineral resource estimate (MRE) for the Springbok zone at the Antelope deposit in Namibia.

The company said the zone contains an inferred resource of 390.000 ounces of gold based on 36,000 meters of drilling.

The deposit lies three kilometers south of B2Gold's ( BTG ) Otjikoto Mine. The company expects mining at the site could begin by 2026 following completion of a preliminary economic analysis and permitting. It will feed ores into the Otjikoto mill, and could produce 100,000 ounces of gold annually through 2031.

The company's shares were last seen up US$0.04 to US$2.61 in premarket trading. They closed unchanged at $3.53 Wednesday on the Toronto Stock Exchange.

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