OTTAWA, Sept. 12, 2017 (GLOBE NEWSWIRE) — Orezone Gold Corporation (“Orezone” or the “Company”) (TSXV:ORE) is pleased to report recent Reverse Circulation (“RC”) drilling results from the first two of four specifically identified target areas (See Press Release of June 22nd 2017) that have been prioritized within the Bomboré deposit to better define the extent and the geometry of discrete zones of high-grade gold mineralization within the oxidized portion of the known gold resources.
The drilling at both Siga East and Siga South has been very successful in intercepting high grade mineralization which should improve grade domaining. More drilling will be required in certain areas to confirm the geometry of discrete higher grade zones.
Highlights from Siga East and Siga South (true width has yet to be determined):
- BBC4505: from 6 to 11m: 5m @ 3.176 gpt, incl. 1m @ 12.7 gpt;
- BBC4506: from 40 to 55m: 15m @ 7.541 gpt, incl. 8m @ 13.2 gpt;
- BBC4523: from 18 to 34m: 16m @ 1.675 gpt, incl. 1m @ 8.5 gpt; and
from 41 to 43m: 2m @ 7.816 gpt, incl. 1m @ 14.7 gpt;
- BBC4534: from 54 to 56m: 2m @7.343 gpt, incl. 1m @ 14.2 gpt;
- BBC4547: from 28 to 39m: 11m @ 2.372 gpt, incl. 2m @ 6.2 gpt;
- BBC4555: from 56 to 63m: 7m @ 2.107 gpt, incl. 1m @ 6.1 gpt;
- BBC4556: from 31 to 32 m: 1m @ 9.603 gpt;
- BBC4556: from 34 to 41m: 7m @ 5.802 gpt, incl. 1m @ 9.3 gpt;
- BBC4560: from 18 to 20m: 2m @ 5.413 gpt, incl. 1m @ 9.5 gpt;
- BBC4561: from 19 to 22m: 3m @ 4.071 gpt, incl. 1m @ 5.9 gpt;
- BBC4562: from 37 to 41m: 4m @ 10.816 gpt, incl. 1m @ 40.9 gpt;
- BBC4564: from 0 to 16m: 16m @ 2.270 gpt, incl. 1m @ 11.0 gpt;
- BBC4571: from 10 to 18m: 8m @ 2.091gpt, incl. 1m @10.7gpt;
- BBC4573: from 16 to 42m: 26m @ 2.011 gpt, incl. 1m @ 10.1 gpt; and
from 48 to 49m: 1m @ 10.092 gpt;
- BBC4574: from 9 to 17m: 8m @ 1.875 gpt, incl. 1m @ 6.4 gpt;
- BBC4583: from 16 to 30m: 14m @ 1.465 gpt, incl. 1m @ 7.0 gpt;
- BBC4606: from 35 to 44m: 9m @ 4.323 gpt.
Other Significant highlights (true width has yet to be determined):
- BBC4494: from 7 to 17m: 10m @ 1.390 gpt;
- BBC4497: from 6 to 25m: 19m @ 0.911 gpt, incl. 1m @ 6.3 gpt; and
- BBC4502: from 15 to 43m: 28m @ 0.889 gpt;
- BBC4515: from 19 to 43m: 24m @ 0.834 gpt;
- BBC4516: from 1 to 19m: 18m @ 1.004 gpt:
- BBC4521: from 22 to 37m: 15m @ 1.279 gpt;
- BBC4522: from 1 to 16m: 15m @ 1.313 gpt;
- BBC4526: from 6 to 17m: 11m @ 1.545 gpt;
- BBC4527: from 24 to 36m: 12m @ 1.189 gpt;
- BBC4539: from 12 to 28m: 16m @ 0.957 gpt, incl. 1m @ 5.5 gpt;
- BBC4546: from 5 to 15m: 10m @ 1.178 gpt;
- BBC4549: from 57 to 64m: 7m @ 2.073 gpt;
- BBC4550: from 39 to 50m: 11m @ 0.913 gpt;
- BBC4551: from 25 to 38m: 13m @ 0.961 gpt;
- BBC4554: from 25 to 34m: 9m @ 1.474 gpt, and from 66m to 76m: 10m @ 1.363 gpt;
- BBC4557: from 60 to 66m: 6m @ 1.821 gpt;
- BBC4561: from 24 to 36m: 12m @ 1.209 gpt, incl. 1m @ 6.9 gpt;
- BBC4562: from 44 to 50m: 6m @ 1.942 gpt;
- BBC4564: from 19 to 28m: 9m @ 1.222 gpt;
- BBC4565: from 31 to 55m: 24m @ 0.976 gpt;
- BBC4570: from 6 to 31m: 25m @ 0.921 gpt; and from 43 to 52m: 9m @ 1.225 gpt;
- BBC4574: from 21 to 31m: 10m @ 1.141 gpt;
- BBC4578: from 0 to 17m: 17m @ 0.999 gpt, and from 19 to 33m: 14m @ 1.036 gpt;
- BBC4579: from 3 to 16m: 13m @ 0.919 gpt;
- BBC4581: from 24 to 31m: 7m @2.135 gpt, incl. 1m @ 5.5 gpt;
- BBC4593: from 0 to 6m: 6m @ 2.026 gpt, incl. 1m @ 5 gpt;
- BBC4601: from 36 to 42m: 6 m @ 2.097 gpt;
- BBC4606: from 8 to 14m: 6m @ 1.704 gpt;
- BBC4612: from 1 to 19m: 18m @ 1.176 gpt.
Patrick Downey President and CEO stated “We are extremely pleased with these drill results. We are now convinced that the specifically targeted areas can be discretely modelled within the main zone which should have a positive impact on the continued development of the project and we look forward to the ongoing drill results from the P11 and CFU zones.”
The RC drilling programme commenced on July 8, 2017 and was designed as essentially infill holes to tighten up the drill spacing from 50 m by 25 m to 25 m by 25 m in the four specific target areas. To date 187 drill holes totalling approximately 9,400m have been completed at Siga East and Siga South. The drilling is ongoing with 4,500 m of RC drilling planned on the P11 and CFU target areas and these results are expected to be released early in Q4 2017. Another 3,000 m should also be completed on sites that were skipped pending the end of the rainy season and others that warrant follow-up drilling or where more drilling should better confirm the geometry of the high-grade zones.
The mineralized intervals are based on a lower cut-off grade of 0.45 g/t, a minimal width of 2 m and up to a maximum of 1.5 m of dilution being included. The true width of the mineralization is approximately 90% of the drill length at Siga South and Siga East. 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 Bomboré sample preparation 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 LeachWellTM 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. The composite width and grade include the final leach residue assay results for most of the drill intercepts reported; leach residue assays are pending for 29 RC holes. Orezone employs a rigorous Quality Control Program (QCP) including a minimum of 10% standards, blanks and duplicates. A complete list of assay results from the current RC drilling programme can be found on the Company’s website at the following link (Drill Results).
Tim Miller, SME and COO, Pascal Marquis, Geo and SVP and Patrick Downey, PEng and CEO of Orezone, are Qualified Persons under National Instrument 43-101 and have approved the information in this release. Readers should refer to the annual information form of Orezone for the year ended December 31, 2016 and other continuous disclosure documents filed by Orezone since January 1, 2017 available at www.sedar.com, for this detailed information, which is subject to the qualifications and notes set forth therein.
About Orezone Gold Corporation
Orezone is a Canadian company with a successful gold discovery track record and recent mine development experience in Burkina Faso, West Africa. The Company owns a 90% interest in Bomboré, a fully permitted, undeveloped oxide gold deposit in West Africa, which is situated 85 km east of the capital city, adjacent to an international highway.
For further information please contact Orezone at +1 (613) 241-3699 or visit the Company’s website at www.orezone.com.
Orezone Gold Corporation
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”, “potential”, “possible” and other similar words, or statements that certain events or conditions “may”, “will”, “could”, or “should” occur. Forward-looking statements in this release include statements regarding, among others; the drill results from the Siga East and Siga South should improve grade domaining and have a positive impact on the ongoing development of the project, an additional 4,500 m will be completed on P11 and CFU target areas with an additional 3,000 m of drilling on other sites that were skipped.
Although the forward-looking statements contained in this news 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 news 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 news release.
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