Orezone Gold Corp.

Published : January 05th, 2010

Increases Sega Project Gold Resources

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Orezone Gold Corporation

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ORE

 

 

 

 

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January 5, 2010

Orezone Increases Sega Project Gold Resources

OTTAWA, ONTARIO--(Marketwire - Jan. 5, 2010) - Orezone Gold Corporation (TSX:ORE) is pleased to announce an increase in the NI 43-101 compliant gold resource estimate of its Sega Project in Burkina Faso, West Africa (see Table 1). The updated estimate incorporates an additional 8,050m of RC drilling (+10%) and 4,421m of diamond drilling (+53%). In 2009, a quality control program was also undertaken, which included re-logging all of the previous RC and DD holes to further refine and standardize the geological model. As part of this quality control program, the frequency of density determinations from core samples was increased in old and new holes, with the database now including 5,501 valid determinations (+137%). The result of this work is a geological model that is more robust and can be used in a scoping study with a higher degree of confidence than the previous 2009 geological model. This work provides the foundation for advancing the Sega Deposit to the feasibility stage for a small heap leach operation similar to the neighbouring Kalsaka Mine (less than 20km to the south) owned by Cluff Gold.

 
Table 1: January 2010 Orezone NI 43-101 resource estimate for the 
Sega deposit, Burkina Faso, West Africa.
 
--------------------------------------------------------------------
Category          Tonnes(i)      Au Grade (g/t)              Ounces
--------------------------------------------------------------------
Indicated        8,289,128                1.69              450,366
--------------------------------------------------------------------
Inferred         2,907,556                1.58              147,344
--------------------------------------------------------------------
(i)0.5 g/t Cut-off
 
Dr. Pascal Marquis, V.P. Exploration for Orezone is a qualified 
person under NI 43-101 and has overseen the resource estimate. Dr 
Marquis utilized the same resource modeling techniques as those used 
for the previous resource estimates that were completed by Orezone 
and independently audited and validated by Met-Chem Canada Inc.. Met-
Chem did not audit nor validate the January 2010 resource estimate.
 
 
Table 2: January 2009 Met-Chem Canada Inc. NI 43-101 resource 
estimate for the Sega deposit, Burkina Faso.
 
--------------------------------------------------------------------
Category          Tonnes(i)      Au Grade (g/t)              Ounces
--------------------------------------------------------------------
Indicated        7,150,000                1.94              446,000
--------------------------------------------------------------------
Inferred         1,320,000                1.50               64,000
--------------------------------------------------------------------
(i)0.5 g/t Cut-off
 
Met-Chem Canada Inc. audited and validated the January 2009 resource 
estimate performed by Orezone.

 

Orezone will complete a scoping study focusing on the near-surface oxide and semi-oxidized ores that represent about 50% of the total resources, including about 260,000 ounces in the Indicated category. The oxide and semi-oxidized ores exhibit heap leach recoveries of 80% or more based on a bottle-roll test results. A detailed metallurgical study, including heap leach column tests, will be completed on the oxidized, semi-oxidized and sulphide ores as part of the scoping study. The potential to continue to expand the oxide and sulphide resources at Sega is high with many untested targets in the 250km2 land package.

"We are pleased with the geological continuity and the increase in resources at Sega. The success of the adjacent Kalsaka Mine confirms the significant value of this project to Orezone and its stakeholders. The results validate Orezone's ability to add additional resources through drilling and allow the company the confidence to take the deposit to the feasibility stage." stated Ron Little, President and CEO for Orezone.

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, developed, financed and sold Burkina Faso's largest deposit (Essakane) to IAMGOLD for $350M and continues to focus on developing the rest of its pipeline of advanced projects including Bombore, one of the largest 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.

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.

 

CONTACT INFORMATION:

Orezone
Ron Little, CEO
613-241-3699 or Toll Free: 888-673-0663
rlittle@orezone.com

or

Orezone
Pascal Marquis, V.P. Exploration
613-241-3699 or Toll Free: 888-673-0663
pmarquis@orezone.com

INDUSTRY: Manufacturing and Production - Mining and Metals

 

 

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Orezone Gold Corp.

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Orezone Gold is a gold exploration company based in Canada.

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

Orezone Gold is listed in Canada. Its market capitalisation is CA$ 161.9 millions as of today (US$ 129.5 millions, € 113.4 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.

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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
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TORONTO (ORE.TO)
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