Orezone Gold Corporation
TSX : ORE

Orezone Gold Corporation

January 06, 2011 09:28 ET

Orezone Gold Corporation: Positive Deeper Drilling Results at Bombore Indicate Upside at Depth

Highlights include 44m at 1.34 g/t, 29m at 1.46 g/t and 22m at 1.31 g/t

OTTAWA, ONTARIO--(Marketwire - Jan. 6, 2011) - Orezone Gold Corporation (TSX:ORE) is pleased to announce positive results from the start of an extensive 120,000m drill program to further infill and expand gold resources at its 100% owned Bomboré Project in Burkina Faso, West Africa. Of the first 18 holes, 14 targeted and intersected the Maga Main Zone covering a 650m strike length at depths between 50 to 122 m (average depth of 89m) in the fresh-rock (sulphide) mineralization. These intersections average 1.18g/t which are in line with projections from the current model down to this depth. Ten holes, including seven that were collared to intersect the Maga Main Zone, also intersected mineralization on the eastern flank (hanging wall) of the main zone (Maga HW) over a strike length of 300m at depths between 10 to 116m and with an average grade of 0.95 g/t. These results are also in line with the current resource model. The results validate the current resource model and more importantly, confirm the extension and grade of the sulphide mineralization below the model and thereby the immediate potential to further expand resources at depth with further drilling.

"Although we have only completed less than 5% of the planned resource expansion drilling program to date, the initial results from the Maga area are very encouraging as they indicate continuity below the portion of the deposit previously drilled and below the current resource model" said Pascal Marquis, V.P. Exploration for Orezone.

Bomboré contains 1.6Moz of indicated resources and 1.9Moz Inferred resources at an average grade of 0.9g/t contained within optimized open pit shells. Over 80% of the resources are located within 80m from surface and drilling had only averaged 60m deep. Drilling will focus on expanding resources and testing continuity of the sulphide resources at depths between 60 to 120m. Core drilling commenced in November with one rig and the Company has secured two additional core rigs and one reverse circulation rig that will be progressively commissioned during the first quarter.

Table 1 Highlights from recent Bomboré expansion core drilling on Maga Main Zone

Prospect Hole-ID Section From   To   Length   Au Vertical   Comment
      (m ) (m ) (m ) g/t Depth (m )  
                         
Maga Main BBD0097 4550N 146.0   156.0   10.0   1.49 115   Stopped in mineralization, below current model
Maga Main BBD0108 4500N 78.0   84.0   6.0   1.12 58   Current model
Maga Main BBD0108 4500N 112.0   139.0   27.0   0.97 90   Edge of current model
Maga Main BBD0098 4450N 135.0   155.0   20.0   0.77 112   Stopped in mineralization, 0.95 g/t from 144 m to 155 m, below current model
Maga Main BBD0109 4400N 93.0   98.0   5.0   1.65 67   Current model
Maga Main BBD0109 4400N 102.0   131.0   29.0   1.46 80   Current model
Maga Main BBD0099 4350N 113.0   157.0   44.0   1.34 102   Edge of current model
Maga Main BBD0110 4300N 127.0   138.0   11.0   0.85 96   Below current model
Maga Main BBD0110 4300N 147.0   150.0   3.0   0.71 107   Stopped in mineralization, below current model
Maga Main BBD0100 4250N 144.0   150.0   6.0   1.14 110   Below current model
Maga Main BBD0100 4250N 161.0   165.0   4.0   1.20 122   Stopped in mineralization, below current model
Maga Main BBD0111 4200N 144.5   147.5   3.0   0.94 104   Current model
Maga Main BBD0101 4150N 115.0   124.0   9.0   2.15 85   Edge of current model
Maga Main BBD0112 4100N 88.0   98.0   10.0   1.03 64   Below current model
Maga Main BBD0104 4050N 121.0   143.0   22.0   1.31 96   Current model
Maga Main BBD0113 4000N 102.0   108.0   6.0   1.61 75   Current model
Maga Main BBD0106 3950N 118.0   145.0   27.0   0.90 100   Edge of current model

Table 2 Highlights from recent Bomboré expansion core drilling on Maga HW Zone

Prospect Hole-ID Section From   To   Length   Au Vertical Comment
      (m ) (m ) (m ) g/t Depth  
                       
Maga HW BBD0100 4250N 63.0   78.0   15.0   1.04 53 Below current model
Maga HW BBD0100 4250N 82.0   97.0   15.0   0.71 67 Outside current model
Maga HW BBD0101 4150N 40.5   46.5   6.0   1.82 33 Current model
Maga HW BBD0112 4100N 38.0   43.0   5.0   1.19 29 Outside current model
Maga HW BBD0104 4050N 30.0   36.0   6.0   1.01 25 Current model
Maga HW BBD0104 4050N 55.0   59.0   4.0   1.24 43 Current model
Maga HW BBD0105 3950N 117.0   128.0   11.0   0.92 93 Below current model
Maga HW BBD0106 3950N 0.0   25.0   25.0   0.75 10 Current model

The dip of the mineralized zone at depth is slightly steeper than expected with the true width of the mineralization represented by 85% of the core length intervals. The half-core samples were collected by Orezone employees using a diamond saw. The samples from the weathered zone were prepared by Abilab Burkina s.a.r.l. (a subsidiary of ALS-Chemex) and SGS Burkina Faso s.a.r.l., and then split by Orezone to 1kg using Rotary Sample Dividers (RSDs). A 1kg aliquot was analyzed for leachable gold at BIGS Global Burkina s.a.r.l in Ouagadougou, by bottle-roll cyanidation using a LeachWellcatalyst. The samples from the fresh or sulphide zone were prepared by BIGS Global Burkina s.a.r.l in Ouagadougou and then split by Orezone to 100g using Rotary Sample Dividers (RSDs). A 50g aliquot was analyzed by fire assay at Abilab Burkina s.a.r.l. (a subsidiary of ALS-Chemex). 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 Dr. Pascal Marquis, V.P. Exploration for Orezone, who is a Qualified Person under National Instrument 43-101 and approved the technical information in this release. A complete table of results and the NI-43-101 Bombore Resource Report that describes the Bombore resource model can be found at www.orezone.com.

Orezone is a gold exploration and development company with significant gold resources in Burkina Faso and more than 15 years of operating experience in West Africa, one of the world's fastest growing gold producing regions. Orezone is focused on developing Bomboré, the second largest gold deposit in the country, and its pipeline of advanced gold projects. 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.

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, 2009 and other continuous disclosure documents filed by Orezone since January 1, 2010 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
    Pascal Marquis, V.P. Exploration
    613-241-3699
    Toll Free: 888-673-0663
    pmarquis@orezone.com