Orezone Gold Corporation
TSX : ORE

Orezone Gold Corporation

June 24, 2009 08:48 ET

Orezone Confirms Mineralization at Bombore Below Surface Resources

Intersections to date below 75m include 41m and 43m at 1.1 g/t

OTTAWA, ONTARIO--(Marketwire - June 24, 2009) - Orezone Gold Corporation (TSX:ORE) is pleased to announce assay results for the first seven out of twenty holes from the 4,500m diamond drilling program being carried out on its wholly owned Bombore gold project in Burkina Faso, West Africa. The purpose of the program is to investigate the potential continuation of the surface oxide gold resources into the fresh rock below a vertical depth of 55m and to identify the geological controls of the gold mineralization. The Bombore Project contains 0.93 Million ounces of Indicated resources and 1.78 Million ounces of Inferred resources with grades averaging approximately 0.5 g/t in the surface oxide zone and closer to one gram of gold per tonne in the fresh rock below.

Results to date indicate that there is a positive correlation between the sulphide content (mostly pyrite) and the degree of deformation (shearing) with the higher grade gold mineralization. The program is being carried out in an area where the pit shell used to calculate resources is approximately 1km wide. Holes have been spaced every 90m along two section lines that are 200m apart. Initial results, along one drill section, have confirmed the very wide, low grade nature of the near surface oxide mineralization at the top of the recent drill holes are on par with the oxide-ore resource model. At depth, below the core or centre of the oxide resource, the results appear to indicate that mineralization is more contrasted with alternating domains of higher grade and lower mineralization 10's of metres wide. Better intersections included 41m at 1.08 g/t in hole BBD068 at 135m below surface and 43m at 1.06 g/t in hole BBD069 at 75m below surface. These intersections are approximately double the expected grade based on the surface resource model. The other holes for which results have been received were drilled outside of the centre or core domains and along the eastern fringe of the resource model. These fringe results indicate a lower than expected grade based on the surface oxide resource model. Table 1 shows results from the first seven holes drilled on the Bombore property. Results from the second drill section and the balance of the holes are expected to be released by the end of July.

Table 1 - Highlights of 2009 Bombore Drilling Program

http://file.marketwire.com/release/ore_tab0624.pdf


"Limited results to date indicate that Bombore is mineralized at depth and the system remains open", said Ron Little, President and CEO of Orezone. "More drilling and the metallurgical results expected in Q4 are required to fully appreciate the economic potential of a deeper fresh rock resource. Our goal at depth, based on recent results, is to focus on the better grade domains that could be selectively mined and processed rather than a wholesale approach of processing a larger but lower grade resource, as expected at surface" he added.

The results to date are typical of such a large low grade system and only represent a fraction of the 10km of strike length of the Bombore Project resource model. Bombore has the potential to host a large, lower grade open pit operation with very good infrastructure compared too much of West Africa. It is located 80km east of the capital city of Ouagadougou adjacent to a major national highway, and near a large water reservoir, and will have access to an international power grid in the coming years.

Bombore Metallurgical Test Work Update: GBM Minerals Engineering Consultants Limited has been contracted to supervise a metallurgical testing program that will evaluate the potential for both heap leach and conventional milling technologies, or a combination thereof, for processing the Bombore deposit. The processing of the samples by Ammtec laboratory in Perth, Western Australia, started at the end of May. If heap leaching proves to be viable, Orezone will launch an RC expansion drilling program to increase the oxide resources at surface. Similarly, if grinding tests of the sulphide ore are positive, there is significant potential to expand the resources at depth. Results of the metallurgical tests are expected in Q4. In parallel with the metallurgical work, the data gathering for the Bombore Baseline Environmental Study is essentially completed and the final report is expected during Q3.

Drilling on the Bombore property was supervised by Dr. Pascal Marquis, Vice President of Exploration for Orezone, who is a Qualified Person under National Instrument 43-101 and has reviewed and approved the technical information in this release. Orezone employs a rigorous Quality Control Program (QCP) employing a minimum 10% standards, blanks and duplicates. All core holes were entirely sampled; core split in half and samples collected by Orezone approximately metre. The sample preparation was performed by Abilab Burkina S.A.R.L., a subsidiary of ALS Chemex. Assays were completed at BIGS Global Burkina S.A.R.L. for oxide and transition material using the LeachWELL™ method and the fresh rock material was analyzed by SGS Burkina S.A. using Fire Assay method.

Orezone is a gold exploration and development company that owns Bombore, one of the largest gold deposits in Burkina Faso, West Africa. Orezone also has a pipeline of developing projects, all located in politically stable areas of West Africa, one of the world's fastest growing gold producing regions. Orezone's mission is to create wealth by discovering and developing the earth's resources in an efficient and responsible manner.

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 and forward-looking information in this new release include statements with respect to the scope and timing of the drilling project and metallurgical testing for Bombore and the timing of the release of a resource update for the Sega project.

Forward-looking statements are based on certain assumptions, opinions and estimates of management at the date the statements are made, and are subject to a variety of risks and uncertainties that could cause actual events or results to differ materially from those projected in the forward-looking statements. The assumptions include that contracted parties provide goods and/or services on the agreed timeframes, that equipment necessary for the drilling program is available as scheduled, that no labour shortages or delays are incurred, that no material adverse change occurs to Orezone. Factors that could cause the forward-looking statements and forward-looking information to differ materially in actuality include the failure of contracted parties to perform as contracted and the failure of equipment. 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.

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, 2008, and other continuous disclosure documents filed by Orezone since January 1, 2009 available at www.sedar.com, for this detailed information, which is subject to the qualifications and notes set forth therein.

Contact Information

  • Orezone Gold Corporation
    Ron Little
    CEO
    613-241-3699 / Toll Free: 888-673-0663
    rlittle@orezone.com
    or
    Orezone Gold Corporation
    Greg Bowes
    Senior VP
    613-241-3699 / Toll Free: 888-673-0663
    gbowes@orezone.com