Final drill results confirm a 1.6km Southern Extension that includes
37m at 1.09 g/t
Orezone Gold Corporation ( ORE : TSX ) is pleased to announce its fifth and final batch of positive results from an infill and resource expansion drill program at its Bomboré Gold Project in Burkina Faso, West Africa. These results are for the last 165 holes from the 619-hole RC program and include scout drilling results from the new Siga South target. The goal of the 42,500m RC drill program is to upgrade and expand the current near surface oxide resources in Q3, providing the foundation for a preliminary economic assessment to be released in Q4.
The Bomboré project consists of several deposits along a 9km trend, with an additional 2.5km of possible extension recently identified and drill tested. Results in this release include the final infill holes in the P11, Siga East and Siga West deposits, as well as the results from the new Siga South target. The latest infill drill hole results from the P11, Siga East and Siga West deposits are broadly in line with the current resource model, including those areas where better than average grade was expected. The limited scout drilling between the Siga West and Siga East deposits returned some very positive results and significant mineralization was intersected on all of the eight 200 meter-spaced Siga South drill sections.
“The latest results from the P11, Siga East and Siga West deposits continue to indicate an improved continuity from section to section in the higher grade areas and the Siga South discovery appears to be an extension of the Siga West deposit adding an additional 1.6km of strike length that still remains open to the south and to the west,” said Pascal Marquis, V.P. Exploration for Orezone. All of these factors will contribute to improving the project economics in the preliminary assessment. A complete table of results can be found on the Orezone website. Please note that a complete statistical analysis of the results has not yet been completed.
Table 1 Highlights from recent Bomboré Infill and Expansion RC Drilling
| Prospect | Section | Hole-ID | From (m) | To (m) | Length (m) | Au g/t | Comment |
| Siga E | 12900 | BBC1095 | 27.00 | 42.00 | 15.00 | 2.469 | Resource expansion |
| Siga E | 12350 | BBC1096 | 23.00 | 31.00 | 8.00 | 1.278 | Infill |
| Siga E | 12150 | BBC1099 | 5.00 | 24.00 | 19.00 | 2.041 | Infill |
| Siga E | 12150 | BBC1099 | 46.00 | 61.00 | 15.00 | 0.949 | Infill |
| Siga E | 12150 | BBC1099 | 64.00 | 72.00 | 8.00 | 1.691 | Infill |
| Siga E | 12150 | BBC1100 | 59.00 | 68.00 | 9.00 | 1.678 | Infill |
| Siga E | 12100 | BBC1106 | 13.00 | 34.00 | 21.00 | 0.552 | Resource expansion |
| Siga W | 11550 | BBC1142 | 21.00 | 44.00 | 23.00 | 0.843 | Infill |
| Siga W | 12950 | BBC1147 | 13.00 | 23.00 | 10.00 | 2.378 | Infill |
| Siga W | 12900 | BBC1150 | 2.00 | 19.00 | 17.00 | 0.689 | Infill |
| Siga W | 12550 | BBC1154 | 6.00 | 20.00 | 14.00 | 0.818 | Infill |
| Siga W | 12150 | BBC1166 | 3.00 | 13.00 | 10.00 | 2.561 | Infill |
| Siga W | 12050 | BBC1169 | 37.00 | 54.00 | 17.00 | 0.77 | Infill |
| Siga W | 11950 | BBC1171 | 2.00 | 54.00 | 52.00 | 0.733 | Infill |
| Siga W | 11750 | BBC1178 | 14.00 | 27.00 | 13.00 | 0.952 | Infill |
| Siga W | 11400 | BBC1192 | 22.00 | 42.00 | 20.00 | 0.629 | Resource expansion |
| Siga W | 11400 | BBC1194 | 18.00 | 31.00 | 13.00 | 1.219 | Resource expansion |
| Siga S | 10600 | BBC1212 | 0.00 | 28.00 | 28.00 | 0.897 | Resource expansion |
| Siga S | 10600 | BBC1213 | 25.00 | 56.00 | 31.00 | 0.719 | Resource expansion |
| Siga S | 10600 | BBC1214 | 39.00 | 46.00 | 7.00 | 1.61 | Resource expansion |
| Siga S | 10600 | BBC1222 | 15.00 | 25.00 | 10.00 | 1.004 | Resource expansion |
| Siga S | 10400 | BBC1226 | 21.00 | 34.00 | 13.00 | 1.642 | Resource expansion |
| Siga S | 10200 | BBC1239 | 1.00 | 38.00 | 37.00 | 1.087 | Resource expansion |
| Siga S | 10200 | BBC1240 | 9.00 | 47.00 | 38.00 | 0.584 | Resource expansion |
| Siga S | 10000 | BBC1252 | 0.00 | 28.00 | 28.00 | 0.563 | Resource expansion |
| Siga S | 9800 | BBC1256 | 4.00 | 23.00 | 19.00 | 0.545 | Resource expansion |
| Siga S | 9800 | BBC1256 | 26.00 | 50.00 | 24.00 | 0.532 | Resource expansion |
The RC drilling samples were divided by Orezone employees using Rotary Sample Dividers (RSDs). A 2kg split was prepared by Abilab Burkina s.a.r.l. (a subsidiary of ALS-Chemex) and SGS Burkina Faso s.a.r.l., and then split by Orezone to 1kg using RSDs. A 1kg aliquot was analyzed for leachable gold at BIGS Global Burkina s.a.r.l in Ouagadougou, by bottle-roll cyanidation using a LeachWellTM catalyst. Orezone employs a rigorous Quality Control Program (QCP) including a minimum of 15% standards, blanks and duplicates. The true widths are approximately 70-75% of the interval length. This program was executed under the supervision of Dr. Pascal Marquis, V.P. Exploration for Orezone, who is a Qualified Person under National Instrument 43-101 and approved the technical information in this release.
The Bomboré Project is located 85km east of the capital city of Ouagadougou along a major national highway. The deposit has a total Indicated resource of 0.93Moz (contained in 49.4Mt at a grade of 0.59g/t) and an Inferred resource of 1.78Moz (contained within 91.8Mt at a grade of 0.61g/t). The grade of the resource is based on approximately 65,000 assay results, including about 44,000 assays from bottle-roll cyanidation extraction (not a complete extraction), therefore understating the in-situ grade of the resource. Approximately one half of the current resource is oxidized and occurs essentially within 50m from surface. The above mentioned drill programs are designed to upgrade and expand the oxidized resource in order to complete a preliminary assessment for a heap leach operation. Detailed metallurgical results to date are quite favorable for this type of deposit indicating heap leach recoveries of 80% with 0.27kg/t of cyanide and 6kg/t of cement consumption on average. The topography, drainage and rainfall are suitable to construct a large water reservoir without negatively impacting downstream users. The project footprint is in an area of low population density and an international power grid is expected to be constructed in the near future. These infrastructure advantages will translate into reduced project development and operating costs.
Orezone is a gold exploration and development company with more than 15 years experience in West Africa, one of the world’s fastest growing gold producing regions. Orezone delineated, permitted, and developed Burkina Faso’s largest gold deposit (Essakane) before it was bought by IAMGOLD in a transaction worth approximately $350M. Orezone continues to focus on developing the rest of its pipeline of advanced gold projects including Bomboré, one of the largest undeveloped gold deposits in Burkina Faso. Orezone’s mission is to create wealth by discovering and developing gold resources in an efficient and responsible manner for the benefit of its shareholders and other stakeholders.
For further information please contact Orezone at (613) 241-3699 or Toll Free (888) 673-0663
Ron Little, CEO, rlittle@orezone.com Pascal Marquis, VP Exploration, pmarquis@orezone.com
FORWARD-LOOKING STATEMENTS AND FORWARD-LOOKING INFORMATION: This news release contains certain “forward-looking statements” within the meaning of applicable Canadian securities laws. Forward-looking statements and forward-looking information are frequently characterized by words such as “plan,” “expect,” “project,” “intend,” “believe,” “anticipate”, “estimate” and other similar words, or statements that certain events or conditions “may” or “will” occur.
FORWARD-LOOKING STATEMENTS are based on the opinions and estimates of management at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking statements. These factors include the inherent risks involved in the exploration and development of mineral properties, the uncertainties involved in interpreting drilling results and other geological data, fluctuating metal prices, the possibility of project cost overruns or unanticipated costs and expenses, uncertainties relating to the availability and costs of financing needed in the future and other factors. The Company undertakes no obligation to update forward-looking statements if circumstances or management’s estimates or opinions should change. The reader is cautioned not to place undue reliance on forward-looking statements.