Orezone Gold Corp.

Published : September 08th, 2014

Bombore Gold Project Feasibility Study Update

( 0 vote, 0/5 ) Print article
  Article Comments Comment this article Rating Follow Company  
0
Send
0
comment

Bombore Gold Project Feasibility Study Update

OTTAWA, ONTARIO--(Marketwired - Sep 8, 2014) - Orezone Gold Corporation (ORE.TO) is pleased to provide an update on the feasibility study work and drill program at its 100%-owned Bomboré Gold Project in Burkina Faso.

21,000 m Infill Drill Program Completed

Orezone completed a 310 hole, 21,293 m reverse circulation (RC) drilling program initiated in May. The $750,000 program was completed in 72 days (297 m/day) and was designed to infill and to upgrade the oxide resource in the northern half of the deposit. Since the July 10, 2014 press release, all remaining results have been received including the last 168 holes (11,734 m). Highlights of all the drill results not included in the last resource estimation (April 2013) are as follows:

  • Core holes - 1.36 g/t is the weighted average grade of the mineralized intervals from the core holes excluded from the 2013 resource vs. 1.04 g/t for the core holes included in the 2013 resource, above a lower cut-off of 0.5 g/t, with all assays cut to 5 g/t.
  • RC holes - 1.05 g/t is the weighted average grade of the mineralized intervals from the RC holes excluded from the 2013 resources vs. 1.03 g/t for the core holes included in the 2013 resource, above a lower cut-off of 0.5 g/t, with all assays cut to 5 g/t.
  • A total of 748 RC holes (42,956 m) have been reported since the 2013 resource, representing an increase of 17% with respect to the meterage supporting the 2013 resource.
  • The next resource update is planned for Q1 2015 and will include more than 50,000 m of new drill results.

A complete list of drill results and analytical procedures can be found on the company's website at www.orezone.com

Combined Heap Leach Pad and Tailings Facility Assessment

A prefeasibility study level assessment for the design and capital cost of the combined heap leach pad and tailing facility with up to 45% more capacity (65Mt) has been completed by Golder and Associates with positive results. The preliminary results indicate that the unit cost estimates (per tonne) are in line with those of the heap leach pad (45Mt) in the 2014 Preliminary Economic Assessment (2014 PEA). The approach of combining the two lined facilities saves both space and capital, benefiting the community as well as the project. Golder has now begun work to optimize the design to a full Feasibility Study level, and improve the capital cost estimates to a confidence level of +/- 15%. Test results on the scrubbed crushed coarse ore continue to show that it is acceptable for use as over liner material (drainage material on top of the liner) on the leach pad. The current design work is now assuming this material will be used as for this purpose.

Scrubber Tests Underway

Kappes Cassiday & Associates (KCA) in Reno, Nevada commenced scrubbing tests on 2.2 tonnes of representative oxide and semi oxidized material. The initial tests included two samples representing one with high fines (saprolite) and the other with low fines (saprock). Preliminary results for these two samples are in line with expectations from earlier scrubber test results indicating a 72% fine fraction (-0.212mm) in the saprolite and an 18% fine fraction in the saprock. The scrubber tests were carried out in 20 kg batches using a cyanide bearing solution that simulates the process envisioned for the Bomboré plant circuit. Initial in-scrubber gold leaching results are positive, indicating a significant leaching of gold occurs during the 3 minute scrubber process with up to 15% of the gold recovered from the saprolite and up to 5% recovered from the saprock samples. The coarse and fine fractions generated by the scrubber will undergo additional column heap leach (HL) tests and carbon-in-leach ("CIL") tests respectively as well as determining rheological parameters and slurry densities throughout the process. This work is expected be completed by the end of October.

The testwork is designed to emulate the modified flow sheet that combines heap leaching with agitated leach tanks (CIL). The results are expected to confirm or improve upon the leaching properties of the Bomboré oxide ores. Rheological and physical characteristic tests will also be performed to assist with the sizing and design of the equipment for the combined HL/CIL plant. In addition, environmental parameters such as rinse times for heaps and detoxification specifics will be determined during the test program.

For further clarification, the modified processing flow sheet assumes 50-70% of the oxide material (-0.212 mm) will be processed through a simple CIL circuit without grinding and yield recoveries between 87-92% and the remaining 30%-50% of the oxide material (+0.212mm) will report to the HL side of the circuit with expected recoveries of 82-88%. The ongoing test work is designed to add further confidence in these preliminary estimates.

Mine Plan and Pit Optimization Studies

The Company is working with RPA Inc. ("RPA") to design the current pit shells and mine plan (based on the April 2013 resource model) for the feasibility study. As part of this work, RPA is exploring the use of a more versatile mining fleet made up of smaller trucks and shovels than the fleet in the 2014 PEA. Based on current market conditions in this region, the smaller units could represent a significant capital costs savings as well as improved operating costs. Such a fleet could also improve flexibility in mining multiple pits at the same time and be an advantage during construction. A decision on the fleet size is expected by month-end, followed by the mine plan within an additional 8 weeks. This work must be completed before the Company can complete the environmental and social impact assessment and the relocation action plan required for the mining permit application process.

About Orezone Gold Corporation

Orezone is a Canadian company with a gold discovery track record of +12 Moz and recent mine development experience in Burkina Faso, West Africa. The Company owns a 100% interest in Bomboré, the largest undeveloped oxide gold deposit in West Africa which is situated 85 km east of the capital city, adjacent to an international highway. The Company is continuing with various technical studies in order to be in a position to complete a full feasibility study and an application for a mining permit in H1 2015.

Carl Defilippi of Kappes Cassiday & Associates, Todd Minard of Golder and Associate, Glen Ehasoo of RPA Inc., and Tim Miller, COO, Pascal Marquis, SVP Exploration and Ron Little, CEO of Orezone, are Qualified Persons under National Instrument 43-101 and have reviewed the information in this release. Pascal Marquis is the Qualified Person in charge of the drilling program and related analysis.

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", "potential", "possible" and other similar words, or statements that certain events or conditions "may", "will", "could", or "should" occur. Forward-looking statements in this release include statements regarding, among others; completing various technical studies for Bomboré in 2014 and their potential impact on the economic returns on the project, completing the FS and applying for a mining permit by H1 2015, updating the resource model and mine plan in Q1 2015, and becoming a mid-tier gold producer.

FORWARD-LOOKING STATEMENTS are based on certain assumptions, 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 and geotechnical data, fluctuating metal prices, the possibility of project cost overruns or unanticipated costs and expenses, the ability of contracted parties (including laboratories and drill companies to provide services as contracted); 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. Comparisons between any resource model and estimates with the subsequent drill results are preliminary in nature and should not be relied upon as potential qualified changes to any future resource updates or estimates.

Readers are advised that National Instrument 43-101 of the Canadian Securities Administrators requires that each category of mineral reserves and mineral resources be reported separately. Readers should refer to the annual information form of Orezone for the year ended December 31, 2013 and other continuous disclosure documents filed by Orezone since January 1, 2014 available at www.sedar.com, for this detailed information, which is subject to the qualifications and notes set forth therein.

Read the rest of the article at finance.yahoo.com
Data and Statistics for these countries : Burkina Faso | All
Gold and Silver Prices for these countries : Burkina Faso | All

Orezone Gold Corp.

EXPLORATION STAGE
CODE : ORE.TO
Follow and Invest
Add to watch list Add to your portfolio Add or edit a note
Add Alert Add to Watchlists Add to Portfolio Add Note
ProfileMarket
Indicators
VALUE :
Projects & res.
Press
releases
Annual
report
RISK :
Asset profile
Contact Cpy

Orezone Gold is a gold exploration company based in Canada.

Its main exploration properties are ZELINE 1 & ZELINE 4 and KOSSA in Niger and BOMBORE, SEGA and BONDI in Burkina Faso.

Orezone Gold is listed in Canada. Its market capitalisation is CA$ 90.4 millions as of today (US$ 66.4 millions, € 61.1 millions).

Its stock quote reached its highest recent level on April 08, 2011 at CA$ 5.26, and its lowest recent point on November 27, 2015 at CA$ 0.22.

Orezone Gold has 117 350 000 shares outstanding.

Your feedback is appreciated, please leave a comment or rate this article.
Rate : Average note :0 (0 vote) View Top rated
 
Annual reports of Orezone Gold Corp.
2009 Annual Report
2008 Annual Report
Annual report 2006
Financings of Orezone Gold Corp.
11/13/2013Closes C$5M Non-Brokered Private Placement
10/30/2013Arranges C$5M Non-Brokered Private Placement
6/23/2010Arranges C$5M Private Placement for Brighton Energy
1/2/2009 Closes Private Placement, Updates Timing of Transaction wit...
Financials of Orezone Gold Corp.
11/15/2008 Third Quarter Update
Project news of Orezone Gold Corp.
3/27/2013(Bombore)Positive Progress Report for Bombore Feasibility Study and R...
11/13/2012(Bombore)Positive Drill Results Support Further Growth at Bombore
9/4/2012(Bombore)35,000 m of Positive Drill Results Support Further Growth at...
8/27/2012(Bombore)Bombore Gold Project Reaches World Class Size
2/22/2012(Bombore)Provides Positive Update on its Bombore Gold Project
2/3/2012(Sega)Sells Sega Project to Cluff Gold for $29.6M
1/10/2012(Bombore)Reports Continued Positive Results at Bombore Gold Project
11/28/2011Brighton Expands Niger Uranium Discovery to 14 km2 of Minera...
8/18/2011Orezone Confirms Heap Leach Potential of Sulphide Resources ...
8/18/2011(Sega)Confirms Heap Leach Potential of Sulphide Resources at Sega
8/8/2011Orezone Expands Bombor\303\251 Gold Project ...
8/8/2011(Bombore)Expands Bombore Gold Project Area 60% With New Permit
7/26/2011(Bombore)Reports Higher Gold Grades and Improved Continuity at Bombor...
6/21/2011(Bombore)Bombor=E9 Gold Project Has PositivePreliminary Economic Asse...
6/20/2011Orezone Bombor\303\251 Gold Project ...
4/11/2011(Sega)Confirms Positive Metallurgical Results for Sega Gold Deposi...
3/24/2011(Bombore)Positive Drill Results at Bombore Continue to Confirm Model
3/23/2011(Bombore)Positive Drill Results at Bombore Continue to Confirm Model
2/24/2011(Zeline 1 & Zeline 4)/Brighton Makes Significant New Uranium Discovery in Niger: ...
7/6/2010(Bombore)Fourth Round of Positive Drill Results at Bombore
6/16/2010(Bombore)Positive Results Continue From Bombore Infill and Expansion ...
5/13/2010Additional PositiveInfill and Expansion Drilling Results at ...
3/25/2010(Bombore)Bombore Auger Drilling Results Indicate Possible 2.5km of Ex...
1/28/2010(Bombore)Commences $2 Million Drill Program at Bombore
1/5/2010(Sega)Increases Sega Project Gold Resources
12/8/2009(Bombore)Improves on Final Bombore Metallurgical Results
10/14/2009(Bombore)Confirms Bombore Gold Deposit is Amenable to Heap Leaching
7/29/2009(Bombore)Completes Drilling Below Surface Resources at Bombore
6/24/2009(Bombore)Orezone Confirms Mineralization at Bombore Below Surface Res...
11/10/2008(Bombore)Almost Triples Gold Resource at Bombore Project
6/30/2008(Essakane)2008 Technical report
Corporate news of Orezone Gold Corp.
12/4/2015Orezone Approved to Move from TSX to TSX-V
9/16/2015Orezone Provides Update on Bomboré Permitting and Bondi Proj...
9/16/2015Orezone Provides Update on Bombore Permitting and Bondi Proj...
7/21/2015Orezone Closes C$6.5M Investment
7/6/2015Orezone Arranges C$6.5M Investment that Includes Ross Beaty
1/27/2015Sandstorm Gold Announces 10 Royalty Agreements
1/27/2015Orezone Closes US$3 Million Financing and Secures an Additio...
1/27/2015Sandstorm Gold Announces 10 Royalty Agreements
1/27/2015Orezone Closes US$3Million Financing
11/24/2014Bombore Gold Project Feasibility Study Update
11/10/2014Orezone update on Operations in Burkina Faso
11/10/2014Orezone Update on Operations in Burkina Faso
11/3/2014Orezone update on Bomboré and Burkina Faso
11/3/2014Orezone Update on Bombore and Burkina Faso
10/14/2014Bombore Gold Project Feasibility Study Update
9/8/2014Bombore Gold Project Feasibility Study Update
7/10/2014Positive Metallurgical and Drilling Results at Bombore
6/4/2014Positive Metallurgical Test Results at Bombore
5/23/2014Orezone Gold Corporation: Results of Annual General Meeting
5/21/2014Orezone Appoints Chief Operating Officer
6/20/2013News Release
6/20/2013(Bombore)Shifts Focus of Bombore Study to Heap Leach Scenario
6/4/2013(Bondi)Positive Metallurgical and Drill Results from the Bondi Proj...
5/24/2013Results of Annual General Meeting
5/24/2013Results of Annual General Meeting
4/29/2013(Bombore)Increases and Upgrades the Bombore Gold Project Resource
2/4/2013(Bombore)Bombore FS and Resource Update Will Include +400,000m of Dri...
5/31/2012(Bombore)Bombore Drill Program Continues with Positive Results
5/23/2012(Sega)Completes the Sale of Sega to Cluff Gold for $26.5M
3/30/2012(Bombore)Completes 215,000 Drill Program at Bombore
2/7/2012to Consolidate Brighton Energy Corporation
12/7/2011Brighton Energy Makes Another Near-Surface Uranium Discovery...
9/12/2011(Bombore)Positive Results Continue at Bombore With Seven Drills Opera...
5/26/2011(Bombore)Reports Additional Positive Drill Results at Bombore Gold Pr...
5/16/2011.: Brighton Energy Discovers Additional Uranium Mineralizati...
4/6/2011Expands Board and Management Team
3/7/2011Burkina Faso is Ra
2/17/2010Brighton Energy Limited Receives Niger Uranium Permit Approv...
7/8/2009Ron Little named Ernst & Young Entrepreneur of the Year Fina...
2/25/2009IAMGOLD Completes Acquisition of Orezone
2/20/2009Obtains Final Court Approval for IAMGOLD Transaction
2/19/2009Shareholders Approve Arrangement with IAMGOLD
2/13/2009 Updates Status of Shareholder Vote
9/29/2005An emerging producer in Burkina Faso, West Africa
Comments closed
 
Latest comment posted for this article
Be the first to comment
Add your comment
TORONTO (ORE.TO)
0.770+2.67%
TORONTO
CA$ 0.770
05/17 16:59 0.020
2.67%
Prev close Open
0.750 0.750
Low High
0.740 0.780
Year l/h YTD var.
0.690 -  0.900 -9.41%
52 week l/h 52 week var.
0.690 -  1.39 -40.31%
Volume 1 month var.
121,866 -8.33%
24hGold TrendPower© : -19
Produces
Develops
Explores for Copper - Gold - Molybdenum - Uranium
 
 
 
Analyse
Interactive chart Add to compare
Interactive
chart
Print Compare Export
Last updated on : 2/10/2010
You must be logged in to use the porfolio and watchlists (free)
Top Newsreleases
MOST READ
Annual variation
DateVariationHighLow
2024-9.41%0.910.68
2023-32.54%1.650.67
20222.44%1.811.08
 
5 years chart
 
3 months chart
 
3 months volume chart
 
 
Mining Company News
Plymouth Minerals LTDPLH.AX
Plymouth Minerals Intersects Further High Grade Potash in Drilling at Banio Potash Project - Plannin
AU$ 0.12-8.00%Trend Power :
Santos(Ngas-Oil)STO.AX
announces expected non-cash impairment
AU$ 7.55-1.69%Trend Power :
OceanaGold(Au)OGC.AX
RELEASES NEW TECHNICAL REPORT FOR THE HAILE GOLD MINE
AU$ 2.20+0.00%Trend Power :
Western Areas NL(Au-Ni-Pl)WSA.AX
Advance Notice - Full Year Results Conference Call
AU$ 3.86+0.00%Trend Power :
Canadian Zinc(Ag-Au-Cu)CZN.TO
Reports Financial Results for Q2 and Provides Project Updates
CA$ 0.12+4.55%Trend Power :
Stornoway Diamond(Gems-Au-Ur)SWY.TO
Second Quarter Results
CA$ 0.02+100.00%Trend Power :
McEwen Mining(Cu-Le-Zn)MUX
TO ACQUIRE BLACK FOX FROM PRIMERO=C2=A0
US$ 11.33+6.89%Trend Power :
Rentech(Coal-Ngas)RTK
Rentech Announces Results for Second Quarter 2017
US$ 0.20-12.28%Trend Power :
KEFIKEFI.L
Reduced Funding Requirement
GBX 0.72+0.84%Trend Power :
Lupaka Gold Corp.LPK.V
Lupaka Gold Receives First Tranche Under Amended Invicta Financing Agreement
CA$ 0.06+10.00%Trend Power :
Imperial(Ag-Au-Cu)III.TO
Closes Bridge Loan Financing
CA$ 2.59+1.17%Trend Power :
Guyana Goldfields(Cu-Zn-Pa)GUY.TO
Reports Second Quarter 2017 Results and Maintains Production Guidance
CA$ 1.84+0.00%Trend Power :
Lundin Mining(Ag-Au-Cu)LUN.TO
d Share Capital and Voting Rights for Lundin Mining
CA$ 17.50+4.48%Trend Power :
Canarc Res.(Au)CCM.TO
Canarc Reports High Grade Gold in Surface Rock Samples at Fondaway Canyon, Nevada
CA$ 0.24+2.08%Trend Power :
Havilah(Cu-Le-Zn)HAV.AX
Q A April 2017 Quarterly Report
AU$ 0.20-2.38%Trend Power :
Uranium Res.(Ur)URRE
Commences Lithium Exploration Drilling at the Columbus Basin Project
US$ 6.80-2.86%Trend Power :
Platinum Group Metals(Au-Cu-Gems)PTM.TO
Platinum Group Metals Ltd. Operational and Strategic Process ...
CA$ 2.53+13.45%Trend Power :
Devon Energy(Ngas-Oil)DVN
Announces $340 Million of Non-Core Asset Sales
US$ 49.62+0.78%Trend Power :
Precision Drilling(Oil)PD-UN.TO
Announces 2017Second Quarter Financial Results
CA$ 8.66-0.35%Trend Power :
Terramin(Ag-Au-Cu)TZN.AX
2nd Quarter Report
AU$ 0.03+0.00%Trend Power :