VANCOUVER, British Columbia, Sept. 13, 2022 (GLOBE NEWSWIRE) — Orezone Gold Corporation (TSX: ORE, OTCQX: ORZCF) (the “Company” or “Orezone”) is pleased to provide the final drill results from the Phase III program from P17S-NE along the P17 mineralized trend at its Bomboré Gold Mine, located in Burkina Faso.
The focus of the Phase III drilling at P17S was to better define the continuity of the repeat, folded high-grade granodiorite mineralized zones.
The drill results continue to be very positive confirming the following:
- Down-plunge continuity of the mineralized zones at P17S has now been extended over an additional 100 m beyond the last set of drill results, with the system still open.
- Drilling continues to intercept significant new mineralization outside of the current resource boundaries.
- The mineralized zones remain open towards surface and at depth over a strike exceeding 300 m.
P17S Drilling Highlights:
- 23.00 m of 2.84 g/t Au from 257.00 m including 11.00 m of 5.26 g/t Au from 269.00 m in hole BBD1125
- 12.00 m of 2.13 g/t Au from 245.00 m including 1.00 m of 19.37 g/t Au from 245.00 m in hole BBD1124
- 3.60 m of 5.58 g/t Au from 157.00 m in hole BBD1134
- 3.80 m of 4.55 g/t Au from 312.20 m in hole BBD1141
- 8.00 m of 3.40 g/t Au from 86.00 m including 1.00 m of 17.99 g/t Au from 88.00 m in hole BBD1133
- 11.00 m of 1.78 g/t Au from 186.00 m including 2.00 m of 7.54 g/t Au from 192.00 m in hole BBD1143
- 3.00 m of 4.15 g/t Au from 130.00 m including 1.00 m of 10.13 g/t Au from 131.00 m in hole BBD1133
Dr. Pascal Marquis, SVP of Exploration, stated, “These final drilling results at P17S confirm that this deposit continues to grow and is still open for further exploration. We have expanded the known zones significantly both along strike and down dip and intersected several new zones outside of the current resource pit shell. Based on the results of this program, we expect returning to P17S to drill later in 2022. Drilling is now well underway at the Siga deposits, which will then be followed by drilling to the North at the Maga deposits. Results from these programs will be released throughout the remainder of 2022.”
Table 1: P17 Trend Highlight Drill Results
* True widths for P17S drilling are approximately 90% of drilled lengths.
Figure 1: P17 Trend Long Section Looking West
Figure 1 is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/49fd1151-2461-466c-a0c2-4648d764c39f
Figure 2: Cross Section 43350 Looking North
Figure 2 is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/084a1d14-b475-4ea7-8dac-019f3250686c
Figure 3: Cross Section 43400 Looking North
Figure 3 is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/809ac188-f40a-46c8-a383-af0314d82864
About Orezone Gold Corporation
Orezone Gold Corporation (TSX: ORE OTCQX: ORZCF) is a Canadian gold mining company operating the open pit Bomboré Mine in Burkina Faso.
The technical report for the 2019 Feasibility Study on the Bomboré Project entitled NI 43-101 Technical Report (Amended) Feasibility Study of the Bomboré Gold Project is available on SEDAR under the Company’s profile at www.Sedar.com.
Orezone is focusing on mining and processing the Phase I near surface free-dig oxides at a planned annual throughput of 5.2 million tonnes. The Company believes that Bomboré has a significant underlying sulphide resource to support a substantially larger Phase II expansion. A 77,000 m infill and expansion drill program is ongoing and once completed, the Company plans to issue an updated mineral resource and reserve statement and feasibility study, as part of this Phase II expansion. It is expected that the studies will be completed in H1-2023 to be followed by a production decision.
Orezone is led by an experienced team focused on social responsibility and sustainability with a proven track record in project construction and operations, financings, capital markets and M&A.
President and Chief Executive Officer
Manager, Investor Relations
Tel: 1 778 945 8977 / Toll Free: 1 888 673 0663
[email protected] / www.orezone.com
Dr. Pascal Marquis, Geo., Senior VP Exploration is the Qualified Person who has approved the scientific and technical information in this news release.
The mineralized intervals are based on a lower cut-off grade of 0.45 g/t, a minimal width of 1.5 m and up to a maximum of 3.0 m of dilution being included. The true width of the mineralization is approximately 90% of the drill length at P17S. The half-core drilling samples were cut using a diamond saw by Orezone employees. The samples were prepared by SGS Burkina Faso s.a.r.l. (“SGS”) at their Ouagadougou 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. (“BIGS Global”) in Ouagadougou, by bottle-roll cyanidation using a LeachWellTM catalyst. The leach residues from all samples with a leach grade greater than or equal to 0.4 g/t were prepared by BIGS Global and then split by Orezone to 50 g using RSDs. A 50-g aliquot was analyzed by fire assay at BIGS Global.
Orezone employs a rigorous Quality Control Program including a minimum of 10% standards, blanks and duplicates. The composite width and grade include the final leach residue assay results for most of the drill intercepts reported, with the details available in the tables posted on our web site.
For further information please contact Orezone at +1 (778) 945-8977 or visit the Company’s website at www.orezone.com.
The Toronto Stock Exchange neither approves nor disapproves the information contained in this news release.
Cautionary Note Regarding Forward-Looking Statements
This press release contains certain information that may constitute “forward-looking information” within the meaning of applicable Canadian Securities laws and “forward-looking statements” within the meaning of applicable U.S. securities laws (together, “forward-looking statements”). Forward-looking statements are frequently characterized by words such as “plan”, “expect”, “project”, “intend”, “believe”, “anticipate”, “estimate”, “potential”, “possible” and other similar words, or statements that certain events or conditions “may”, “will”, “could”, or “should” occur. Forward-looking statements in this press release include, but are not limited to, statements with respect to the potential at the P17S.
All such forward-looking statements are based on certain assumptions and analyses made by management in light of their experience and perception of historical trends, current conditions and expected future developments, as well as other factors management and the qualified persons believe are appropriate in the circumstances.
All forward-looking statements 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 including, but not limited to, delays caused by the COVID-19 pandemic, terrorist or other violent attacks, the failure of parties to contracts to honour contractual commitments, unexpected changes in laws, rules or regulations, or their enforcement by applicable authorities; the failure of parties to contracts to perform as agreed; social or labour unrest; changes in commodity prices; unexpected failure or inadequacy of infrastructure, the possibility of project cost overruns or unanticipated costs and expenses, accidents and equipment breakdowns, political risk, unanticipated changes in key management personnel and general economic, market or business conditions, the failure of exploration programs, including drilling programs, to deliver anticipated results and the failure of ongoing and uncertainties relating to the availability and costs of financing needed in the future, and other factors described in the Company’s most recent annual information form and management discussion and analysis filed on SEDAR on www.sedar.com. Readers are cautioned not to place undue reliance on forward-looking statements.
Although the forward-looking statements contained in this press release are based upon what management of the Company believes are reasonable assumptions, the Company cannot assure investors that actual results will be consistent with these forward-looking statements. These forward-looking statements are made as of the date of this press release and are expressly qualified in their entirety by this cautionary statement. Subject to applicable securities laws, the Company does not assume any obligation to update or revise the forward-looking statements contained herein to reflect events or circumstances occurring after the date of this press release.