35,000 m of Positive Drill Results Support Further Growth at Bombore
04 Settembre 2012 - 3:39PM
Marketwired Canada
Orezone Gold Corporation (TSX:ORE) is pleased to announce 35,000 m of additional
positive oxide and sulphide drill results from infill and expansion drilling
completed during the second quarter at its wholly owned Bombore Gold Project in
Burkina Faso, West Africa. These results were not included in the Bombore
resource update announced on August 27, 2012.
Highlights
- Results include 408 reverse circulation holes (RC) (21,113 m) and 93 core
holes (DD) (14,161 m). For all results see the following Table.
- The majority of these results are from the southern area of the project, which
now accounts for approximately 40% of the Bombore resource. A significant
portion of the new results are situated outside and close proximity to the
southern area pit shells that constrain the resource.
- Five new holes from the P17N prospect confirmed the continuity of this new
discovery and definition drilling will commence over a strike of at least 350 m.
This prospect was not included in the 2012 resource estimate and the new
drilling will focus on upgrading resources to an indicated level.
- In the northern area, a possible southwest extension of the Maga main zone was
confirmed. Additional drilling focused on upgrading resources to an inferred
level will commence over a strike length of 1.2 km.
- Based on the positive results, the board has approved an additional 42,000 m
RC and 46,000 m of core drilling to upgrade and expand the inferred oxide and
sulphide resources of the project. The drilling program has already started with
one RC and two core rigs.
- The next resource update is planned for Q1 2013 that will incorporate the
35,000 m of new results plus an expected 30,000 m of results from the upcoming
drill program.
- The new on-site Bombore sample preparation facility can handle in excess of
15,000 samples per month (17,109 samples prepared in July) and will
significantly improve the delivery time of the future drill results.
"These results confirm that there is excellent potential for further expansion
of the oxide and sulphide resources." said Pascal Marquis, SVP Exploration for
Orezone. "The next round of drilling is designed to continue to expand resources
and steadily improve the project economics."
Table 1. Cumulative Historical Results Reported to Date
----------------------------------------------------------------------------
Total Drilling to Date Grade g/t
----------------------------------------------------------------------------
Zone # of Holes Total m Uncut Cut
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KT - RC 120 7,830 1.45 1.29
----------------------------------------------------------------------------
KT - DD 6 642 1.73 1.67
----------------------------------------------------------------------------
CFU - RC 212 13,836 1.57 1.07
----------------------------------------------------------------------------
CFU - DD 26 3,938 1.75 0.99
----------------------------------------------------------------------------
Maga - RC 750 49,110 1.21 1.07
----------------------------------------------------------------------------
Maga - DD 155 22,817 1.21 1.11
----------------------------------------------------------------------------
P8P9 - RC 1,186 81,119 1.19 1.02
P8P9 - DD 240 40,622 1.18 1.00
----------------------------------------------------------------------------
P11 - RC 368 20,422 1.03 0.99
P11- DD 88 12,358 1.11 0.97
----------------------------------------------------------------------------
Siga E - RC 371 22,042 1.02 0.93
Siga E - DD 105 15,334 1.30 1.05
----------------------------------------------------------------------------
Siga W - RC 298 16,208 0.94 0.89
Siga W - DD 93 12,773 0.90 0.87
----------------------------------------------------------------------------
Siga S - RC 456 23,465 1.80 0.94
Siga S - DD 96 15,042 1.04 0.98
----------------------------------------------------------------------------
P17 N - RC 9 451 1.29 1.15
P17 N - DD 0 0
----------------------------------------------------------------------------
P17 S - RC 0 0
P17 S - DD 3 414 3.09 2.59
----------------------------------------------------------------------------
P17 - RC 32 1,951 2.24 1.86
P17 - DD 24 2,980 1.50 1.38
----------------------------------------------------------------------------
P16 - RC 51 3,124 1.48 1.28
P16 - DD 27 3,931 2.71 1.64
----------------------------------------------------------------------------
North - RC 2,268 151,895 1.22 1.04
North - DD 427 68,019 1.21 1.04
----------------------------------------------------------------------------
South - RC 1,493 82,137 1.36 0.94
South- DD 382 55,506 1.06 0.96
----------------------------------------------------------------------------
SE - RC 92 5,526 1.69 1.44
SE - DD 54 7,325 2.31 1.55
----------------------------------------------------------------------------
All - RC 3,853 239,558 1.29 1.02
----------------------------------------------------------------------------
All - DD 863 130,850 1.20 1.03
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(1) Weighted average grade of individual assays, cut to 5 g/t
Table 2. Breakdown of Drilling Meterage for this Release
----------------------------------------------------------------------------
Zone Core Drilling RC Drilling
------------------------------------------------------------
# of holes Total m # of holes Total m
----------------------------------------------------------------------------
Maga 0 0 56 3,090
CFU 0 0 3 198
P8P9 25 4,621 30 1,665
P11 3 496 24 1,308
Siga E 15 1,920 46 2,344
Siga W 17 2,127 44 2,234
Siga S 30 4,529 177 8,877
P17 N 0 0 5 250
P16 0 0 12 587
P13 0 0 1 50
Goingho 0 0 4 200
MV2 0 0 2 110
MV3S 3 468 4 200
TOTAL 93 14,161 408 21,113
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Table 3. Highlights of Diamond Drill Hole Results for this Release
(Includes holes previously reported for which the final total assay results are
now available)
----------------------------------------------------------------------------
Uncut Cut
From To Length Grade(1) Grade(2) Total
Zone Section Hole # (m) (m) (m) (g/t) (g/t) Assay(3)
----------------------------------------------------------------------------
CFU 3150 BBD0729 28.50 36.00 7.50 14.14 4.15
----------------------------------------------------------------------------
Maga 4425 BBD0639 105.50 149.00 43.50 1.22 1.22
----------------------------------------------------------------------------
Maga 4400 BBD0820 137.00 189.00 52.00 1.36 1.27
----------------------------------------------------------------------------
Maga 4375 BBD0772 76.00 109.00 33.00 1.10 1.10
----------------------------------------------------------------------------
Maga 4350 BBD0738 74.00 97.00 23.00 1.11 1.11
----------------------------------------------------------------------------
Maga 4350 BBD0738 100.00 111.00 11.00 1.38 1.38
----------------------------------------------------------------------------
Maga 4325 BBD0688 93.00 113.00 20.00 1.32 1.32
----------------------------------------------------------------------------
Maga 4250 BBD0638 104.00 126.00 22.00 0.92 0.92
----------------------------------------------------------------------------
Maga 4225 BBD0637 125.00 144.00 19.00 1.01 1.01
----------------------------------------------------------------------------
Maga 4075 BBD0736 10.50 22.50 12.00 1.66 1.66
----------------------------------------------------------------------------
Maga 4075 BBD0737 172.00 199.00 27.00 1.22 1.12
----------------------------------------------------------------------------
Maga 4050 BBD0770 71.00 91.00 20.00 0.77 0.77
----------------------------------------------------------------------------
Maga 4050 BBD0771 177.00 193.00 16.00 1.25 1.25
----------------------------------------------------------------------------
Maga 3975 BBD0817 0.00 22.50 22.50 2.67 2.14
----------------------------------------------------------------------------
Maga 3975 BBD0817 126.00 156.00 30.00 1.48 1.48
----------------------------------------------------------------------------
Maga 3950 BBD0816 194.00 210.00 16.00 1.19 1.19
----------------------------------------------------------------------------
Maga 3900 BBD0685 27.00 43.00 16.00 1.03 1.03
----------------------------------------------------------------------------
Maga 3900 BBD0685 156.00 179.00 23.00 2.40 1.57
----------------------------------------------------------------------------
Maga 3875 BBD0733 29.00 71.00 42.00 1.47 1.47
----------------------------------------------------------------------------
Maga 3875 BBD0734 89.00 109.00 20.00 0.92 0.92
----------------------------------------------------------------------------
Maga 3825 BBD0684 52.00 81.00 29.00 1.43 1.43
----------------------------------------------------------------------------
P8P9 2050 BBD0833 104.00 125.00 21.00 1.36 1.29 Pending
----------------------------------------------------------------------------
P8P9 2000 BBD0837 112.00 123.00 11.00 1.51 1.37 Pending
----------------------------------------------------------------------------
P8P9 1950 BBD0834 32.00 49.00 17.00 1.55 1.55 Pending
----------------------------------------------------------------------------
P8P9 1950 BBD0835 0.00 16.50 16.50 3.48 2.96 Pending
----------------------------------------------------------------------------
P8P9 1950 BBD0835 36.50 52.00 15.50 1.44 1.44 Pending
----------------------------------------------------------------------------
P8P9 1800 BBD0539 0.00 6.00 6.00 3.23 3.02
----------------------------------------------------------------------------
P8P9 1600 BBD0870 63.50 72.50 9.00 1.94 1.86 Pending
----------------------------------------------------------------------------
P8P9 1300 BBD0871 239.00 263.00 24.00 0.74 0.74 Pending
----------------------------------------------------------------------------
P8P9 1300 BBD0871 285.00 295.00 10.00 1.79 1.62 Pending
----------------------------------------------------------------------------
P17 S 42725 TDD0001 47.00 52.00 5.00 3.68 3.33
----------------------------------------------------------------------------
P17 S 42725 TDD0002 70.00 74.00 4.00 5.67 4.57
----------------------------------------------------------------------------
P17 S 42725 TDD0003 21.00 34.00 13.00 2.28 1.81
----------------------------------------------------------------------------
P11 48700 BBD0862 40.00 56.00 16.00 3.78 1.64 Pending
----------------------------------------------------------------------------
Siga S 10900 BBD0644 57.00 78.50 21.50 0.85 0.85
----------------------------------------------------------------------------
Siga S 10750 BBD0776 159.00 185.00 26.00 0.70 0.70
----------------------------------------------------------------------------
Siga S 10700 BBD0647 158.00 175.00 17.00 1.81 1.40
----------------------------------------------------------------------------
Siga S 10550 BBD0648 121.00 155.00 34.00 1.32 1.32
----------------------------------------------------------------------------
Siga S 10450 BBD0640 12.50 57.00 44.50 1.20 1.17
----------------------------------------------------------------------------
Siga S 10450 BBD0641 90.00 110.00 20.00 1.12 1.12
----------------------------------------------------------------------------
Siga S 10400 BBD0698 60.00 80.00 20.00 1.30 1.26
----------------------------------------------------------------------------
Siga S 10300 BBD0699 115.00 135.00 20.00 1.61 1.24
----------------------------------------------------------------------------
Siga S 10250 BBD0746 5.50 20.00 14.50 1.84 1.52
----------------------------------------------------------------------------
Siga W 12100 BBD0853 59.00 78.00 19.00 0.99 0.99 Pending
----------------------------------------------------------------------------
Siga W 11550 BBD0825 24.00 47.00 23.00 1.62 0.90
----------------------------------------------------------------------------
Siga W 11300 BBD0783 80.00 105.00 25.00 0.61 0.61
----------------------------------------------------------------------------
P16 44325 BBD0813 177.00 189.00 12.00 3.09 1.36
----------------------------------------------------------------------------
P16 44325 BBD0813 198.00 216.00 18.00 1.22 1.22
----------------------------------------------------------------------------
P16 44275 BBD0768 106.00 115.00 9.00 5.18 2.31
----------------------------------------------------------------------------
P16 44275 BBD0768 136.00 154.00 18.00 10.55 1.57
----------------------------------------------------------------------------
P16 44250 BBD0763 105.00 115.00 10.00 1.81 1.81
----------------------------------------------------------------------------
P16 44250 BBD0763 137.00 150.00 13.00 1.43 1.43
----------------------------------------------------------------------------
P16 44050 BBD0814 0.00 21.00 21.00 0.92 0.92
----------------------------------------------------------------------------
Table 4. Highlights of Reverse Circulation Results for this Release
(Includes holes previously reported for which the final total assay results are
now available)
----------------------------------------------------------------------------
Uncut Cut
From To Length Grade(4) Grade(5) Total
Zone Section Hole (m) (m) (m) (g/t) (g/t) Assay(6)
----------------------------------------------------------------------------
CFU 3450 BBC3169 0.00 10.00 8.00 1.64 1.64
----------------------------------------------------------------------------
CFU 3350 BBC3160 66.00 70.00 4.00 50.68 3.64
----------------------------------------------------------------------------
CFU 2850 BBC3111 3.00 17.00 14.00 1.54 1.54
----------------------------------------------------------------------------
CFU 2800 BBC3108 5.00 12.00 7.00 1.46 1.46
----------------------------------------------------------------------------
CFU 2700 BBC3096 47.00 54.00 7.00 2.29 1.60
----------------------------------------------------------------------------
CFU 2500 BBC2821 24.00 28.00 4.00 5.82 2.63
----------------------------------------------------------------------------
CFU 2500 BBC2822 25.00 40.00 15.00 1.08 1.08
----------------------------------------------------------------------------
KT 6100 BBC3214 0.00 9.00 9.00 1.34 1.34
----------------------------------------------------------------------------
Maga 4500 BBC2810 43.00 67.00 24.00 2.50 2.22
----------------------------------------------------------------------------
Maga 4350 BBC2811 4.00 35.00 31.00 1.33 1.33
----------------------------------------------------------------------------
Maga 4325 BBC2812 31.00 38.00 7.00 2.11 1.76
----------------------------------------------------------------------------
Maga 4325 BBC2812 45.00 74.00 29.00 1.22 1.21
----------------------------------------------------------------------------
Maga 4300 BBC2813 7.00 38.00 31.00 0.76 0.76
----------------------------------------------------------------------------
Maga 4150 BBC2779 17.00 24.00 7.00 2.17 2.17
----------------------------------------------------------------------------
Maga 3650 BBC2988 23.00 31.00 8.00 2.58 2.26
----------------------------------------------------------------------------
Maga 3300 BBC2963 0.00 7.00 7.00 2.00 2.00
----------------------------------------------------------------------------
Maga 2950 BBC2844 38.00 56.00 18.00 0.76 0.76
----------------------------------------------------------------------------
P8P9 1850 BBC2673 30.00 34.00 4.00 2.87 2.87
----------------------------------------------------------------------------
P8P9 1850 BBC3491 37.00 48.00 11.00 1.44 1.38 Pending
----------------------------------------------------------------------------
P8P9 1800 BBC2662 45.00 55.00 10.00 1.72 1.43
----------------------------------------------------------------------------
P8P9 1750 BBC3480 17.00 35.00 18.00 1.19 1.19 Pending
----------------------------------------------------------------------------
P8P9 1075 BBC2554 10.00 25.00 15.00 0.80 0.80
----------------------------------------------------------------------------
P17 N 45700 BBC3232 14.00 27.00 13.00 2.22 1.86
----------------------------------------------------------------------------
P11 48300 BBC3590 64.00 81.00 17.00 1.31 1.12 Pending
----------------------------------------------------------------------------
Siga E 11350 BBC3549 6.00 20.00 14.00 1.38 1.10 Pending
----------------------------------------------------------------------------
Siga S 10900 BBC3383 3.00 13.00 10.00 1.19 1.19
----------------------------------------------------------------------------
Siga S 10700 BBC3349 34.00 48.00 14.00 0.78 0.78
----------------------------------------------------------------------------
Siga S 10550 BBC3346 54.00 64.00 10.00 1.73 1.71
----------------------------------------------------------------------------
Siga S 10400 BBC3315 26.00 34.00 8.00 5.02 3.39
----------------------------------------------------------------------------
Siga S 10300 BBC3305 19.00 26.00 7.00 1.50 1.50
----------------------------------------------------------------------------
Siga S 10300 BBC3306 7.00 15.00 8.00 2.21 1.60
----------------------------------------------------------------------------
Siga S 10150 BBC3290 13.00 18.00 5.00 3.99 2.01
----------------------------------------------------------------------------
Siga S 10050 BBC3271 21.00 39.00 18.00 0.73 0.73
----------------------------------------------------------------------------
Siga S 9850 BBC3253 24.00 37.00 13.00 0.80 0.80
----------------------------------------------------------------------------
Siga S 9850 BBC3258 7.00 16.00 9.00 1.14 1.14
----------------------------------------------------------------------------
Siga S 9850 BBC3261 7.00 17.00 10.00 1.64 1.11
----------------------------------------------------------------------------
Siga S 9850 BBC3261 21.00 27.00 6.00 1.74 1.74
----------------------------------------------------------------------------
Siga S 9850 BBC3262 30.00 37.00 7.00 5.72 2.56
----------------------------------------------------------------------------
Siga W 12350 BBC3458 11.00 34.00 23.00 1.71 1.04 Pending
----------------------------------------------------------------------------
Siga W 11500 BBC3442 22.00 32.00 10.00 1.64 1.64
----------------------------------------------------------------------------
P16 44150 BBC3236 6.00 19.00 13.00 0.99 0.99
----------------------------------------------------------------------------
P16 44125 BBC3237 6.00 20.00 14.00 1.09 1.09
----------------------------------------------------------------------------
P16 44075 BBC3241 11.00 34.00 23.00 5.13 2.56
----------------------------------------------------------------------------
The mineralized intervals are based on a lower cut-off grade of 0.5 g/t, a
minimal width of 3 m and up to a maximum of two consecutive meters of dilution
being included. The true width of the mineralization is approximately 85% of the
drill length intervals in Maga, P16, P17 and P8P9 areas, and 95% of the drill
length intervals in the Siga area. The half-core samples were collected by
Orezone employees using a diamond saw. The core samples from the weathered
(oxide) zone were prepared by Abilab Burkina s.a.r.l. (a subsidiary of
ALS-Chemex), BIGS Global Burkina s.a.r.l and SGS Burkina Faso s.a.r.l., and then
split by Orezone to 1 kg using Rotary Sample Dividers (RSDs). A 1 kg 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. The samples from the
fresh or sulphide zone were prepared by BIGS Global Burkina s.a.r.l, SGS Burkina
Faso s.a.r.l., ACTLABS Burkina Faso s.a.r.l. and Abilab Burkina s.a.r.l. in
Ouagadougou and then split by Orezone to 1 kg using Rotary Sample Dividers
(RSDs). A 1 kg 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.
The RC drilling samples were divided by Orezone employees using Rotary Sample
Dividers (RSDs). A 2 kg split was prepared by Abilab Burkina s.a.r.l. (a
subsidiary of ALS-Chemex), BIGS Global Burkina s.a.r.l and SGS Burkina Faso
s.a.r.l., and then split by Orezone to 1 kg using RSDs. A 1 kg 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. The leach residues from
all samples with a leach grade in excess of 0.2 g/t were prepared by BIGS Global
Burkina s.a.r.l. and then split by Orezone to 50 g using Rotary Sample Dividers
(RSDs). A 50 g aliquot was analyzed by fire assay at SGS Burkina Faso s.a.r.l.
Orezone employs a rigorous Quality Control Program (QCP) including a minimum of
10% standards, blanks and duplicates. This program was executed under the
supervision of Pascal Marquis, SVP Exploration for Orezone, who is a Qualified
Person under National Instrument 43-101 and approved the technical information
in this release. A complete table of results and the NI 43-101 Bombore Resource
Report that describes the Bombore resource model can be found at
www.orezone.com.
About Orezone Gold Corporation
Orezone is a Canadian company with a gold discovery track record of +12 M oz and
recent mine development experience in Burkina Faso, West Africa. The company
owns a 100% interest in Bombore, the largest undeveloped gold deposit in the
country that 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 working to grow
resources while completing a definitive feasibility study at Bombore in 2013 and
become a mid-tier gold producer by 2015.
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 in this release include statements regarding, among
others, ; capital and operating cost estimates; gold production for the project;
completion of a Definitive Feasibility Study in 2013; completion of the next
resource update in Q1 2013; commencement of production at the Bombore Project in
2015.
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 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, 2011 and other continuous
disclosure documents filed by Orezone since January 1, 2012 available at
www.sedar.com, for this detailed information, which is subject to the
qualifications and notes set forth therein.
(1) Weighted average grade of uncut individual assays
(2) Weighted average grade of individual assays cut to 5 g/t
(3) Composite width and grade are preliminary where leach residue fire assay
results are pending
(4) Weighted average grade of uncut individual assays
(5) Weighted average grade of individual assays cut to 5 g/t
(6) Composite width and grade are preliminary where leach residue fire assay
results are pending
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