Orezone Gold Corporation (TSX:ORE) is pleased to announce
additional positive results from an ongoing infill and expansion
drill program at its wholly owned Bombore Gold Project in Burkina
Faso, West Africa. The recent drilling has expanded the southern
P16 and the P17N deposits and with open ended mineralization, more
expansion drilling is warranted. Additional core drilling completed
on the P17S prospect confirmed the presence of several
north-plunging mineralized zones with grades exceeding 2 g/t, which
remain open to the north, including 18 m at a grade of 2.36 g/t on
the northernmost section drilled to date. Scout drilling on the new
P13 target on 400 m line spacing has intersected narrow mineralized
zones on all sections over a strike of 2 km in the southern portion
of the target area, including 7 m at a grade of 1.48 g/t on section
3400N and 15 m at a grade of 1.3 g/t on section 2200N. Results for
this release include 5,795 m of reverse circulation (RC) drilling
(119 holes) and 3,606 m of core (DD) drilling (24 holes) and are
essentially from the southern area of the property. The drilling in
this location was designed to upgrade and expand the P16 and P17
deposits, as well as test new targets with limited to no prior
drilling.
"These higher grade results are very encouraging given that the
best auger anomalies on P13 were located in the northern portion of
the target area, where assay results are still pending," said
Pascal Marquis, SVP Exploration for Orezone. "Although Bombore is
already recognized for its significant size (+11km long), these
results highlight the potential for higher grade zones that could
have a positive impact on the overall project economics"
An additional 84,000 m of results have now been released since
the August 2012 resource estimation. The ongoing drill program
continues to demonstrate the potential to upgrade and expand the
resources, especially the softer near surface oxide resources. The
current resource is constrained within optimized open pit shells
that span 11 km and includes 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
oxide portion of the resource occurs in the top 50 m and includes
1.76 Moz M&I and 0.26 Moz Inferred resources. The Company has
recently commissioned an interim/internal resource update using
63,500 m (771 holes) of the current program that will bring the
total database to over 400,000 m (5,034 holes). The update is
expected to be completed in Q1 2013 and will be the basis for the
reserves of the full Feasibility Study ("FS") to be released 2H
2013.
Table 1. Cumulative Results Excluded from the August
2012 Resource Reported to Date
--------------------------------------------------------
Total Drilling to Date Grade g/t
--------------------------------------------------------
Zone # of Holes Total m Uncut Cut(1)
--------------------------------------------------------
KT - RC 23 1,169 1.31 1.22
--------------------------------------------------------
CFU - RC 17 1,455 0.82 0.82
CFU - DD 16 2,517 2.69 1.09
--------------------------------------------------------
Maga - RC 268 17,885 1.09 0.95
Maga - DD 60 12,874 1.29 1.09
--------------------------------------------------------
P8P9 - RC 30 1,665 0.91 0.90
P8P9 - DD 44 8,416 1.02 0.98
--------------------------------------------------------
P11 - RC 22 1,100 1.29 1.11
P11- DD 3 496 1.66 1.14
--------------------------------------------------------
Siga E - RC 55 2,828 1.14 0.94
Siga E - DD 16 2,046 1.38 1.03
--------------------------------------------------------
Siga W - RC 35 1,750 0.89 0.89
Siga W - DD 17 2,127 0.93 0.88
--------------------------------------------------------
Siga S - RC 177 8,877 0.94 0.87
Siga S - DD 36 5,423 0.95 0.90
--------------------------------------------------------
P16 - RC 33 1,659 1.06 1.05
P16 - DD 10 2,032 1.35 1.25
--------------------------------------------------------
P17 - RC 4 175 2.44 2.25
P17 - DD 1 175 3.50 2.40
--------------------------------------------------------
P17 N - RC 38 1,915 1.10 1.03
P17 N - DD 1 175 NSA NSA
--------------------------------------------------------
P17 S - DD 15 1,695 2.83 2.42
--------------------------------------------------------
P13 51 2,670 1.36 1.35
--------------------------------------------------------
North - RC 338 22,174 1.08 0.96
North - DD 120 23,807 1.25 1.03
--------------------------------------------------------
South - RC 289 14,555 0.98 0.89
South- DD 72 10,091 1.02 0.92
--------------------------------------------------------
SE - RC 37 1,834 1.19 1.16
SE - DD 11 2,207 1.47 1.31
--------------------------------------------------------
New targets - RC 89 4,585 1.17 1.11
New targets - DD 16 1,870 2.83 2.42
--------------------------------------------------------
All - RC 715 41,233 1.06 0.96
--------------------------------------------------------
All - DD 203 36,105 1.22 1.04
--------------------------------------------------------
Table 2. Breakdown of Drilling Meterage for this Release
--------------------------------------------------------------------
Zone Core Drilling RC Drilling
------------------------------------------------
# of holes Total m # of holes Total m
--------------------------------------------------------------------
Siga E 1 127 0 0
P16 9 1,848 21 1,052
P17 1 175 4 175
P17N 1 175 33 1,665
P17S 12 1,281 0 0
P13 0 0 50 2,620
Geotechnical program 0 0 11 283
TOTAL 24 3,606 119 5,795
--------------------------------------------------------------------
Table 3. Highlights of Diamond Drill Hole Results for this Release
----------------------------------------------------------------------------
Uncut Cut
From To Length Grade(2) Grade(3) Total
Zone Section Hole # (m) (m) (m) (g/t) (g/t) Assay(4)
----------------------------------------------------------------------------
P16 44350 BBD0962 165.00 171.00 6.00 1.72 1.72
----------------------------------------------------------------------------
P16 44350 BBD0962 181.00 194.00 13.00 1.17 1.17
----------------------------------------------------------------------------
P16 44325 BBD0973 160.00 172.00 12.00 2.43 1.81
----------------------------------------------------------------------------
P16 44250 BBD0961 96.00 101.00 5.00 2.32 2.20
----------------------------------------------------------------------------
P16 44200 BBD0971 85.00 95.00 10.00 1.33 1.33
----------------------------------------------------------------------------
P16 44150 BBD0958 26.50 32.50 6.00 1.93 1.93
----------------------------------------------------------------------------
P16 44125 BBD0975 35.50 51.00 15.50 2.96 2.36
----------------------------------------------------------------------------
P16 44100 BBD0959 16.00 26.00 10.00 2.08 2.05
----------------------------------------------------------------------------
P17 44175 BBD0963 147.00 152.00 5.00 4.39 2.61 Pending
----------------------------------------------------------------------------
P17 S 42750 TYD0015 65.00 83.00 18.00 2.36 2.17 Pending
----------------------------------------------------------------------------
P17 S 42725 TYD0013 39.00 55.00 16.00 1.98 1.88 Pending
----------------------------------------------------------------------------
P17 S 42725 TYD0014 75.00 81.00 6.00 2.76 2.76 Pending
----------------------------------------------------------------------------
P17 S 42675 TYD0008 16.00 24.00 8.00 3.78 3.45
----------------------------------------------------------------------------
P17 S 42675 TYD0009 28.00 36.00 8.00 2.91 2.74
----------------------------------------------------------------------------
P17 S 42675 TYD0010 26.00 32.00 6.00 5.01 2.70 Pending
----------------------------------------------------------------------------
P17 S 42675 TYD0011 41.00 48.00 7.00 1.59 1.59 Pending
----------------------------------------------------------------------------
P17 S 42650 TYD0007 39.00 43.00 4.00 3.09 3.09
----------------------------------------------------------------------------
P8P9 1950 BBD0948 172.00 181.00 9.00 1.14 1.14
----------------------------------------------------------------------------
P8P9 1850 BBD0838 47.00 61.00 14.00 0.76 0.76
----------------------------------------------------------------------------
P8P9 1850 BBD0838 74.00 81.00 7.00 1.77 1.77
----------------------------------------------------------------------------
P8P9 1800 BBD0539 0.00 6.00 6.00 3.26 3.02
----------------------------------------------------------------------------
P8P9 1750 BBD0949 15.00 25.00 10.00 2.59 2.37
----------------------------------------------------------------------------
P8P9 1700 BBD0940 54.50 77.00 22.50 0.71 0.71
----------------------------------------------------------------------------
P8P9 1600 BBD0870 62.50 72.50 10.00 1.94 1.81
----------------------------------------------------------------------------
P8P9 1600 BBD0870 223.00 231.00 8.00 1.94 1.84
----------------------------------------------------------------------------
Table 4. Highlights of Reverse Circulation Results for this Release
----------------------------------------------------------------------------
Uncut Cut
From To Length Grade(5) Grade(6) Total
Zone Section Hole (m) (m) (m) (g/t) (g/t) Assay(7)
----------------------------------------------------------------------------
P13 3400 TYC0038 25.00 32.00 7.00 1.48 1.48 Pending
----------------------------------------------------------------------------
P13 2200 TYC0013 18.00 33.00 15.00 1.30 1.27 Pending
----------------------------------------------------------------------------
P16 44200 BBC3915 10.00 33.00 23.00 1.11 1.05
----------------------------------------------------------------------------
P16 44200 BBC3916 37.00 47.00 10.00 1.14 1.14
----------------------------------------------------------------------------
P16 44175 BBC3912 4.00 12.00 8.00 1.31 1.31
----------------------------------------------------------------------------
P16 44175 BBC3912 23.00 38.00 15.00 1.07 1.07
----------------------------------------------------------------------------
P16 44175 BBC3913 41.00 49.00 8.00 1.76 1.76
----------------------------------------------------------------------------
P16 44175 BBC3914 44.00 50.00 6.00 2.16 2.16
----------------------------------------------------------------------------
P17 44225 BBC3920 8.00 15.00 7.00 1.58 1.58
----------------------------------------------------------------------------
P17 44175 BBC3919 30.00 33.00 3.00 5.04 4.38
----------------------------------------------------------------------------
P17 44125 BBC3918 19.00 30.00 11.00 2.29 2.10
----------------------------------------------------------------------------
P17 N 45950 BBC3950 25.00 38.00 13.00 0.78 0.78 Pending
----------------------------------------------------------------------------
P17 N 45950 BBC3951 13.00 19.00 6.00 1.72 1.72 Pending
----------------------------------------------------------------------------
P17 N 45850 BBC3947 21.00 30.00 9.00 1.20 1.20
----------------------------------------------------------------------------
Siga E 48300 BBC3590 64.00 81.00 17.00 1.97 1.15
----------------------------------------------------------------------------
Click here for a complete table of results from the drilling
referred to in this release.
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 KT, CFU, Maga, P16, P17 and P8P9 areas, and 95% of the
drill length intervals in the Siga area. The true width is not
known yet on P17N, P17S and P13.
The half-core samples were collected by Orezone employees using
a diamond saw. The core samples were prepared by SGS Burkina Faso
s.a.r.l. at the Bombore site facility 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 SGS
Burkina Faso s.a.r.l. at the Bombore site facility 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 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.
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 Bombore 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 working to further expand the
resources at Bombore while it completes a FS for a phase one
oxide-only CIL plant in 2H 2013 and plans to 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 FS in
2H 2013; completion of an internal 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 individual assays, cut to 5 g/t.
NSA: No Significant Assay.
(2) Weighted average grade of uncut individual assays
(3) Weighted average grade of individual assays cut to 5 g/t
(4) Composite width and grade are preliminary where leach
residue fire assay results are pending.
(5) Weighted average grade of uncut individual assays
(6) Weighted average grade of individual assays cut to 5 g/t
(7) Composite width and grade are preliminary where leach
residue fire assay results are pending
Contacts: Orezone Ron Little, CEO (613) 241-3699 Toll Free:
(888) 673-0663rlittle@orezone.com Orezone Pascal Marquis, SVP
Exploration (613) 241-3699 Toll Free: (888)
673-0663pmarquis@orezone.com
Grafico Azioni Orezone Gold (TSX:ORE)
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