Orezone Hits Higher Grades on New Targets and Satellite Deposits at Bombore
Highlights include 16 m @ 2.96 g/t, 18 m @ 2.36 g/t and 16 m @ 1.98 g/t
(firmenpresse) - OTTAWA, ONTARIO -- (Marketwire) -- 02/25/13 -- 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 (at) 1.03 g/t) and 1.03 Moz of inferred resources (35 Mt (at) 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.
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™ 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™ 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 (at) 1.03 g/t) and 1.03 Moz of inferred resources (35 Mt (at) 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 , 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) 673-0663
Orezone
Pascal Marquis, SVP Exploration
(613) 241-3699
Toll Free: (888) 673-0663
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Datum: 25.02.2013 - 14:01 Uhr
Sprache: Deutsch
News-ID 232848
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