Orezone Gold Corp.

Published : June 16th, 2010

Positive Results Continue From Bombore Infill and Expansion Dril

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Orezone Gold Corporation

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June 16, 2010

Orezone Gold Corporation: Positive Results Continue From Bombore Infill and Expansion Drilling

Highlights include 11m at 6.09 g/t and 10m at 3.49 g/t

OTTAWA, ONTARIO--(Marketwire - June 16, 2010) - Orezone Gold Corporation (TSX:ORE) is pleased to announce positive results from an additional 152 holes (for a total of 318 holes to date) of infill and resource expansion drilling at its Bombore Gold Project in Burkina Faso, West Africa. The goal of the 42,500 m RC infill and expansion drilling program is to upgrade and expand the current near surface oxide resources in Q3 to provide the foundation for a preliminary economic assessment to be released in Q4. A preliminary comparison of the new infill results to the older geological model indicates that the depth of oxidation is about 15% greater than expected within the Maga deposit area and about 10% greater within the P8/P9 deposit area. Similarly, the average width and grade of the mineralization is broadly in line with the model. Infill drilling has clearly defined improved continuity in discrete higher grade zones within the larger lower grade envelope.

The Bombore 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 CFU deposit and about two thirds of the holes drilled at P8/P9 deposit. The 42,500 m drill program was completed on April 30th and about 60% of the samples have been analyzed to date. Results are expected to continue into July.

"Results to date indicate the potential for significant extensions, an increase in resource tonnage along with improved continuity from section to section in the higher grade areas," said Pascal Marquis, V.P. Exploration for Orezone. All of these attributes 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 Bombore Infill and Expansion RC Drilling

 
PROSPECT  SECTION     HOLE    FROM      TO  LENGTH  AU g/t        Comment
CFU          2650  BBC0804   10.00   27.00   17.00    1.07         Infill
                                                                 Resource
CFU          2450  BBC0808   56.00   62.00    6.00    5.40      expansion
P8P9         2150  BBC0824    6.00   15.00    9.00    1.61         Infill
P8P9         2150  BBC0824   52.00   68.00   16.00    0.71         Infill
P8P9         1800  BBC0837   22.00   33.00   11.00    0.99         Infill
P8P9         1750  BBC0844   39.00   50.00   11.00    6.09         Infill
P8P9         1450  BBC0854   39.00   48.00    9.00    4.38         Infill
P8P9         1325  BBC0860   82.00   94.00   12.00    1.69         Infill
P8P9         1225  BBC0864   80.00   91.00   11.00    1.22         Infill
P8P9         1175  BBC0867   53.00   66.00   13.00    1.35         Infill
P8P9          875  BBC0877   21.00   39.00   18.00    0.76         Infill
P8P9          875  BBC0878    0.00   10.00   10.00    3.49         Infill
P8P9         2000  BBC0892   17.00   38.00   21.00    1.18         Infill
P8P9         1950  BBC0895    2.00   35.00   33.00    0.72         Infill
                                                                 Resource
P8P9         1600  BBC0902    7.00   12.00    5.00    4.73      expansion
P8P9         1250  BBC0924   15.00   41.00   26.00    1.24         Infill
P8P9         1450  BBC0931   54.00   63.00    9.00    1.20         Infill
P8P9         1650  BBC0939    1.00   20.00   19.00    1.02         Infill
P8P9         1750  BBC0945   50.00   66.00   16.00    1.34         Infill
P8P9         1850  BBC0948    0.00   17.00   17.00    1.40         Infill
P8P9         1975  BBC0974   59.00   75.00   16.00    0.92         Infill

 

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 LeachWell(TM) catalyst. Orezone employs a rigorous Quality Control Program (QCP) including a minimum of 15% standards, blanks and duplicates. 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 Bombore 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 50 m 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 indicate average heap leach recoveries of 80%, with an average consumption of 0.25kg/t of cyanide and 6kg/t of cement. 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 Bombore, 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.

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

or

Orezone Gold Corporation
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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