Orezone Gold Corporation
TSX : ORE

Orezone Gold Corporation

March 25, 2010 09:20 ET

Orezone: Bombore Auger Drilling Results Indicate Possible 2.5km of Extension

OTTAWA, ONTARIO--(Marketwire - March 25, 2010) -  Orezone Gold Corporation (TSX:ORE) is pleased to announce positive results from a 3,000m, 489-hole auger drilling program on its Bomboré project in Burkina Faso, West Africa. The program was designed to investigate the gold-in-soil anomalies that occur along trend of the qualified 0.9Moz indicated and 1.8Moz inferred resources at Bomboré. South of the Siga deposit (http://media3.marketwire.com/docs/PN651_MAP.pdf), 35% of the saprolite samples returned gold assays in excess of 0.2g/t and 9% in excess of 0.5g/t. These results define a new RC drilling target that could extend the Siga deposit by 1.5km further south. The gap between the P8/P9 deposit and the P11 deposit also returned similar values that are coincident with a high-resolution resistivity survey lithological domain, and clearly defines a second 1km RC drilling target. Approximately 300 of the auger holes were drilled in these two areas.

The 2.5km of potential deposit extension will be followed up immediately with a 5,000m, 79-hole RC drill program that will be completed in addition to the ongoing 35,500m RC infill and expansion drilling program. To date, 29,000m have been drilled, one third of the samples have been prepared at the laboratory and 10% have been analyzed. Announcement of infill results for the Maga deposit are expected in April, followed by P8/P9 and Siga. The drilling program is on schedule and the laboratory turn around time for sample analysis has been approximately 20 days. 

"The Infill drilling results to date indicate that the depth of oxidation is about 5 to 10% greater than expected. This combined with the possible strike extensions as indicated by the auger drilling will undoubtedly result in expanding the current near surface oxide resources" said Pascal Marquis, Vice President of Exploration. With over 40,000m of additional RC drilling, the Bomboré resources will be updated in Q3 and a preliminary assessment released in Q4.

Orezone is a gold exploration and development company with more than 15 years experience in West Africa, one of the world's fastest growing gold producing regions. Orezone delineated, permitted, and developed Burkina Faso's largest gold deposit (Essakane) before it was bought by IAMGOLD for $350M. Orezone continues to focus on developing the rest of its pipeline of advanced gold projects including Bomboré, one of the largest undeveloped gold deposits in Burkina Faso. Orezone's mission is to create wealth by discovering and developing gold resources in an efficient and responsible manner for the benefit of its shareholders and other stakeholders.

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 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. 

Contact Information

  • Orezone Gold Corporation
    Ron Little
    CEO
    613-241-3699
    Toll Free: 888-673-0663
    rlittle@orezone.com
    or
    Orezone Gold Corporation
    Pascal Marquis
    V.P. Exploration
    613-241-3699
    Toll Free: 888-673-0663
    pmarquis@orezone.com