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OTTAWA,
ONTARIO--(Marketwire - March 25, 2010) - Orezone Gold Corporation
(TSX:ORE) is pleased to announce positive results from a 3,000m,
489-hole auger drilling program on its Bombore project in Burkina Faso,
West Africa. The program was designed to investigate the gold-in-soil
anomalies that occur along trend of the qualified 0.9Moz indicated and
1.8Moz inferred resources at Bombore. South of the Siga deposit (http://media3.marketwire.com/docs/PN651_MAP.pdf),
35% of the saprolite samples returned gold assays in excess of 0.2g/t
and 9% in excess of 0.5g/t. These results define a new RC drilling
target that could extend the Siga deposit by 1.5km further south. The
gap between the P8/P9 deposit and the P11 deposit also returned similar
values that are coincident with a high-resolution resistivity survey
lithological domain, and clearly defines a second 1km RC drilling
target. Approximately 300 of the auger holes were drilled in these two
areas.
The 2.5km of potential deposit extension will be followed up
immediately with a 5,000m, 79-hole RC drill program that will be
completed in addition to the ongoing 35,500m RC infill and expansion
drilling program. To date, 29,000m have been drilled, one third of the
samples have been prepared at the laboratory and 10% have been
analyzed. Announcement of infill results for the Maga deposit are
expected in April, followed by P8/P9 and Siga. The drilling program is
on schedule and the laboratory turn around time for sample analysis has
been approximately 20 days.
"The Infill drilling results to date indicate that the depth of
oxidation is about 5 to 10% greater than expected. This combined with
the possible strike extensions as indicated by the auger drilling will
undoubtedly result in expanding the current near surface oxide
resources" said Pascal Marquis, Vice President of Exploration.
With over 40,000m of additional RC drilling, the Bombore resources will
be updated in Q3 and a preliminary assessment released in Q4.
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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