Bondi

400,000 oz gold @ 2 g/t, with upside potential

Summary

• 282,000 oz of Measured & Indicated (2.1 g/t) gold and 149,700 oz Inferred resource (1.8 g/t)
• Shear zone-hosted gold mineralization (cuts the contact between sediments and volcanics)
• 2011: Airborne geophysics, metallurgy, drilling
• 100% owned (Projects are subject to a government 10% free carried interest and net smelter royalty)

Description

Orezone's Bondi Project is located on the Houndé Greenstone Belt in the southwest of Burkina Faso covering an area of 224 km². It is accessible via a paved road with a local power grid and year round water.

It has four open pittable zones with Measured and Indicated resources of 282,000 oz of gold and an Inferred resource of 149,700 oz. Approximately 50% of the resources are oxidized. Orezone holds a 100% interest.

Geology

The Djarkadougou permit lies within the Houndé greenstone belt that is spatially associated with the Houndé-Ouahigouya tectonic zone and is bordered by Tarkwaian sediments.

The permit is underlain by a unit of Tarkwaian clastic sediments bracketed by the dominantly andesitic / pillowed basaltic flows and breccias of the Eastern Volcanic Domain and the lava, tuff and breccias of felsic to mafic composition, with intercalated volcano-sedimentary rocks, from the Western Volcanic Domain.

The Bondigui granitic batholith lies on the east of the Eastern Volcanic Domain and a variety of felsic to mafic dykes have also been recognized. The rocks of the Western and Eastern Domains have been affected by three phases of brittle-ductile deformation and by lower greenschist facies of metamorphism. All the rocks have undergone surface weathering to an average depth of 50 meters.

Mineralization

The bulk of the Bondi gold resource at Djarkadougou is contained in several lenses associated with the main sub-vertical N-NNE shear system and with second-order shear splays. The deposits are linearly contiguous, but separated by gaps corresponding to weakly or unmineralized portions of the shears.

The mineralization lies in a 4 km shear zone cutting the contact between the Tarwka sedimentary trough to the west and north with the Eastern Volcanic domain to the south and east. Gold mineralization is associated with multi-stage emplacement of quartz-pyrite veinlets into sheared arenite-argillite, mafic dykes and quartz-feldspar-porphyry.

The mineralization is characterized by alteration that manifests itself by silica, sericite, carbonate and hematite, finely disseminated pyrite with subordinate arsenopyrite and chalcopyrite.

2011 Priorities

• Ground geophysics
• Trenching
• Auger / air core drilling followed by expansion drilling

Reports

• Bondi NI 43-101 Report, February 2009