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OTTAWA,
ONTARIO--(Marketwire - May 13, 2010) -
Highlights include 21m at 1.41g/t and 19m at 1.07 g/t
A Second Extension Identified with 2km of Artisanal Workings
Orezone Gold Corporation (TSX:ORE) is pleased to announce positive
results from an additional 81 holes of infill drilling at its Bombore
Gold Project in Burkina Faso, West Africa. The goal of the 42,500m RC
infill and expansion drilling program is to upgrade and expand the
current near surface oxide resources in Q3 to be followed by a preliminary
economic assessment of the project in Q4. An initial 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, about 10% greater within the P8P9 deposit area, and that
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. At
the NE end of the P8P9-CFU deposit (see map available at: http://media3.marketwire.com/docs/orea_map.jpg) a possible 2km NE extension has been identified that includes
historical artisanal workings. This area amongst others will receive
more drilling in the subsequent programs.
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 Maga deposit at
the north end of the 9km trend. The first 85 holes were announced on
April 12th, 2010. Drilling of the 42,500m was completed on April 30,
however only 67% of the samples have been prepared at the laboratory
and only 35% 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 and grade 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 or at the following address: http://media3.marketwire.com/docs/orea_table0513.pdf
. 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 AUPPM Comment -------------------------------------------------------------------------- New - CFU 3500 BBC0766 1.00 15.00 14.00 0.99 Expansion New - CFU 3500 BBC0767 29.00 44.00 15.00 0.90 Expansion New - CFU 3500 BBC0768 84.00 96.00 12.00 1.37 Expansion CFU 3350 BBC0778 60.00 65.00 5.00 2.26 New CFU 3350 BBC0778 77.00 82.00 5.00 4.14 New CFU 3350 BBC0779 6.00 25.00 19.00 1.07 New CFU 3250 BBC0786 28.00 45.00 17.00 0.62 New CFU 3200 BBC0795 32.00 53.00 21.00 1.41 New CFU 3150 BBC0794 52.00 56.00 4.00 2.83 New Maga 3250 BBC0744 2.00 18.00 16.00 0.88 New Maga 3250 BBC0745 16.00 34.00 18.00 0.67 New Maga 2975 BBC0757 15.00 41.00 26.00 0.50 New Maga 2900 BBC0756 5.00 21.00 16.00 0.88 New Maga 2900 BBC0756 37.00 60.00 23.00 0.46 New P8P9 2150 BBC0824 6.00 15.00 9.00 1.61 New P8P9 2150 BBC0824 52.00 68.00 16.00 0.71 New
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 50m 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 those down stream.
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 for $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.
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