Orezone Shifts Focus of Bombore Study to Heap Leach Scenario
Published : June 19, 2013
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OTTAWA, ONTARIO--(Marketwired - June 19, 2013) - Orezone Gold Corporation (News - Market indicators) announces that it intends to shift the focus of the Bomboré Feasibility Study in order to review and reassess the lower capital cost heap leach (HL) scenario outlined in the August 2011 Preliminary Economic Assessment (PEA). The ongoing feasibility work for an oxide-only Carbon in Leach (CIL) circuit with a capacity of 8 Mt/yr for ten years has included and largely completed the geotechnical and metallurgical studies, tailings design, mine planning and environmental assessment and could be compiled into a finalized prefeasibility or full feasibility document at anytime if warranted. The study work to date indicates that the initial capital required to build the CIL scenario is similar to that outlined in the PEA. Although this could be a very robust project for a producing company, the required financing is not practical for Orezone given the current condition of the capital markets. The heap leach scenario, as per the PEA, is expected to have a substantially lower initial capex and benefit from the significantly larger oxide resource which is now double that used in the PEA. 

"There are several undeveloped large-scale oxide-gold projects world-wide that are comparable to Bomboré in terms of size, grades and heap leaching kinetics," said Ron Little, CEO for Orezone. "By updating the economics of the heap leach scenario using the reserves, study work and results of the current CIL scenario, we hope to obtain a timely value re-rating in keeping with those other projects." The company plans to update the PEA heap leach scenario as soon as possible and continue towards a full feasibility subject to positive results.

All drill programs have been completed for the season and the company is focusing on core activities related to the feasibility study resulting in lower expenditures.

The Company would also like to draw attention to an announcement made on Friday June 14th, 2013 that it will be deleted from the Junior Gold Miners ETF (GDXJ) Friday June 21, 2013. The Company dropped below the required minimum market capitalization of $75M. 

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 which is situated 85 km east of the capital city, adjacent to an international highway. Mineral resources are constrained within optimized open pit shells that span 11 km, and include 4.13 Moz of measured and indicated (125 Mt @ 1.03 g/t) and 1.03 Moz of inferred resources (35 Mt @ 1.00 g/t) with an average depth of drilling to only 120 meters. The Company is completing a Feasibility Study ("FS") at Bomboré for a phase one oxide-only scenario in order to become a mid-tier gold producer.

Pascal Marquis, SVP Exploration and Ron Little, CEO are Qualified Persons under National Instrument 43-101 have reviewed the information in this release. 

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; similar initial capital requirement (CIL) to the PEA, (HL) substantially lower initial capex, timely value re-rating, updating the PEA for the HL scenario, completing a FS at Bomboré, 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 or 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, 2012 and other continuous disclosure documents filed by Orezone since January 1, 2013 available at www.sedar.com, for this detailed information, which is subject to the qualifications and notes set forth therein.



Orezone Gold Corporation
Ron Little
CEO
(613) 241-3699 or Toll Free: (888) 673-0663
rlittle@orezone.com
or
Orezone Gold Corporation
Pascal Marquis
SVP Exploration
(613) 241-3699 or Toll Free: (888) 673-0663
pmarquis@orezone.com
www.orezone.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
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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 BOMBORE, SEGA and BONDI in Burkina Faso.

Orezone Gold is listed in Canada. Its market capitalisation is CA$ 159.6 millions as of today (US$ 127.6 millions, € 111.8 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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