Orezone Discovers Large Moly-Copper System Near Essakane
15 Aprile 2008 - 1:55PM
Marketwired
OTTAWA, ONTARIO (AMEX: OZN) is pleased to announce the discovery
of a large Molybdenum (Mo) - Copper (Cu) porphyry style system
within 30km of Essakane, Orezone's cornerstone gold deposit in West
Africa. The Kourki Mo-Cu Prospect is situated in Niger on the Kossa
Permit and forms part of Orezone's 2275km(2) land package that
straddles the border of Burkina Faso and Niger. The 1km by 2km size
target was identified during a 2007 regional gold exploration
program using multi-element soil sampling, rock sampling and
geophysical surveys. A limited eight hole, 1200m diamond drill
program intersected significant Mo and Cu mineralization over large
intervals (Tables 1 and 2). The mineralization shows typical Mo-Cu
zoning through the area that was tested. More information regarding
Mo-Cu deposits and maps of the Kourki Prospect are posted on the
Orezone web site.
"The scale of the target and grade of mineralization defined
through this limited scout drill program speaks to the significant
potential of this new discovery," stated Steve King, V.P.
Exploration for Orezone. The Company is considering a number of
strategic alternatives to advance the project.
Table 1. Composite Mo results from 2007 Kourki diamond drilling program.
----------------------------------------------------------------
HOLE FROM TO LENGTH Mo(i) Mo
(ID) SECTION (m) (m) (m) (ppm) (%)
----------------------------------------------------------------
KKD0001 6800N 0.0 150.0 150.0 324 0.032
----------------------------------------------------------------
including 130.0 137.0 7.0 1355 0.136
----------------------------------------------------------------
KKD0002 6800N 43.0 57.0 14.0 211 0.021
----------------------------------------------------------------
99.0 109.5 10.5 110 0.011
----------------------------------------------------------------
KKD0004 7000N 0.0 59.0 59.0 176 0.018
----------------------------------------------------------------
65.0 87.5 22.5 168 0.017
----------------------------------------------------------------
111.5 150.0 38.5 158 0.016
----------------------------------------------------------------
KKD0005 7000N 0.0 51.5 51.5 164 0.016
----------------------------------------------------------------
57.5 96.5 39.0 180 0.018
----------------------------------------------------------------
KKD0006 7000N 72.0 92.5 20.5 186 0.019
----------------------------------------------------------------
103.0 148.0 45.0 196 0.020
----------------------------------------------------------------
KKD0007 7200N 0.0 99.0 99.0 141 0.014
----------------------------------------------------------------
105.0 137.0 32.0 114 0.011
----------------------------------------------------------------
KKD0008 7200N 0.0 93.5 93.5 180 0.018
----------------------------------------------------------------
99.5 150.0 50.5 191 0.019
----------------------------------------------------------------
(i) 100 ppm composite; minimum 10 m interval; maximum 5 m internal
dilution.
Table 2. Composite Cu results from 2007 Kourki diamond drilling program.
----------------------------------------------------------------
HOLE FROM TO LENGTH Cu(i) Cu
(ID) SECTION (m) (m) (m) (ppm) (%)
----------------------------------------------------------------
KKD0001 6800N 0 150.4 150.4 402 0.040
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KKD0002 6800N 0.0 39.0 39.0 302 0.030
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46.0 150.0 104.0 227 0.023
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KKD0003 6800N 13.0 25.0 12.0 95 0.010
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89.5 101.5 12.0 311 0.031
----------------------------------------------------------------
KKD0004 7000N 0.0 150.0 150.0 450 0.045
----------------------------------------------------------------
KKD0005 7000N 0.0 150.0 150.0 305 0.031
----------------------------------------------------------------
KKD0006 7000N 68.5 150.0 81.5 470 0.047
----------------------------------------------------------------
KKD0007 7200N 6.0 20.0 14.0 179 0.018
----------------------------------------------------------------
28.0 150.0 122.0 1034 0.103
----------------------------------------------------------------
KKD0008 7200N 0.0 150.0 150.0 396 0.040
----------------------------------------------------------------
(i) 100 ppm composite; minimum 10 m interval; maximum 5 m internal
dilution.
Drilling on the Kourki prospect was supervised by M.S. (Steve)
King, P. Geo., VP, Exploration for Orezone, who is a Qualified
Person under National Instrument 43-101 and has reviewed and
approved the technical information in this release. Orezone employs
a rigorous Quality Control Program (QCP) employing a minimum 10%
standards, blanks and duplicates. Sample prep was completed at
Abilab Burkina SARL Ouagadougou (subsidiary of ALS Laboratory
group) and ICP-MS multi-element analysis was completed at ALS
Vancouver.
Orezone is also pleased to announce that Greg Bowes has rejoined
the Company as the Chief Financial Officer and as a result, he has
resigned from the Board of Directors. Mr. Bowes has been involved
with Orezone since 2004 as V.P. Corporate Development, Chief
Financial Officer and Director. Mr. Bowes holds an MBA from Queens
University. He replaces Jimena Martinez effective immediately.
"We are very pleased to have Greg back as CFO during our
transformation to becoming a producer, "said Ron Little CEO for
Orezone. His knowledge of the Company, our people, our shareholders
and the projects will be of great benefit to maintaining our
continuity during a very rapid growth phase."
Orezone is an explorer and emerging gold producer whose main
asset is Essakane, the largest gold deposit in Burkina Faso, West
Africa. Essakane contains 4.0 Moz of indicated resources and 1.3
Moz of inferred resources at a 0.5 g/t cut off. Reserves contained
within a US$500 gold price mine plan are 2.65 Moz. The deposit
remains open and untested below 300m from surface and is surrounded
by several satellite deposits. Orezone also has a pipeline of
developing projects, all located in West Africa, one of the world's
fastest growing gold producing regions. Orezone's mission is to
create wealth by discovering and developing the earth's resources
in an efficient and responsible manner.
FORWARD-LOOKING STATEMENTS: This news release contains certain
"forward-looking statements" within the meaning of Section 21E of
the United States Securities Exchange Act of 1934, as amended.
Except for statements of historical fact relating to the company,
certain information contained herein constitutes forward-looking
statements. Forward-looking statements 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.
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, 2006, and other continuous disclosure
documents filed by Orezone since January 1, 2007 available at
www.sedar.com, for this detailed information, which is subject to
the qualifications and notes set forth therein.
Cautionary Note to United States Investors Concerning Estimates
of Measured, Indicated and Inferred Resources: This press release
uses the terms "Measured", "Indicated" and "Inferred" Resources.
United States investors are advised that while such terms are
recognized and required by Canadian regulations, the United States
Securities and Exchange Commission does not recognize them.
"Inferred Mineral Resources" have a great amount of uncertainty as
to their existence, and as to their economic and legal feasibility.
It cannot be assumed that all or any part of an Inferred Mineral
Resource will ever be upgraded to a higher category. Under Canadian
rules, estimates of Inferred Mineral Resources may not form the
basis of feasibility or other economic studies. United States
investors are cautioned not to assume that all or any part of
Measured or Indicated Mineral Resources will ever be converted into
Mineral Reserves. United States investors are also cautioned not to
assume that all or any part of an Inferred Mineral Resource exists,
or is economically or legally mineable.
Contacts: Orezone Resources Inc. Ron Little, CEO 613-241-3699
Toll Free: 888-673-0663 rlittle@orezone.com Orezone Resources Inc.
Pascal Marquis, President 613-241-3699 Toll Free: 888-673-0663
pmarquis@orezone.com Orezone Resources Inc. Niel Marotta, VP Corp
613-241-3699 Toll Free: 888-673-0663 nmarotta@orezone.com Orezone
Resources Inc. Janet Eastman, Manager IR 613-241-3699 Toll Free:
888-673-0663 jeastman@orezone.com
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