OTTAWA, ONTARIO--(Marketwired - April 12, 2017) - Orezone Gold Corporation (TSX VENTURE:ORE) is pleased to announce further positive results from an ongoing drill program at its Bomboré Gold Project in Burkina Faso. The program is currently focused on expanding the P17S sulphide zone that is hosted in a shallowly plunging granodiorite intrusive situated 2 km south of the Bomboré mining permit. The initial resources at P17S were defined by shallow drilling to a depth of 60m.
The results from a 62-hole drill program completed in 2016 (see press release January 17, 2017) extended the deposit to a depth of 100 m. Drilling resumed in mid-February with the completion of an additional 40 reverse circulation (RC) and core holes. The further step-out holes with pending assay results have intersected mineralized granodiorite to a vertical depth of 150 m and indicate a down-plunge continuity of the zone to over 350 m. The positive drill results from these additional 102 holes will result in an expansion of the initial resource. Furthermore, the deposit remains open at depth and to the north where the drilling program continues.
Highlights of the new P17S drill results include:
| Section | Hole ID | Type | From m |
To m |
Length m |
Au gpt |
Depth m |
| 42875 | TYD0061 | DD | 116.00 | 118.30 | 2.30 | 5.04 | 110 |
| DD | 126.00 | 138.25 | 12.25 | 3.61 | 125 | ||
| 42850 | TYD0059 | DD | 148.00 | 157.00 | 9.00 | 2.61 | 115 |
| DD | 159.50 | 163.40 | 3.90 | 3.76 | 121 | ||
| 42825 | TYD0057 | DD | 130.00 | 133.75 | 3.75 | 3.39 | 101 |
| 42787.5 | TYD0071 | DD | 80.50 | 94.40 | 13.90 | 1.76 | 78 |
| 42775 | TYD0055 | DD | 51.00 | 64.00 | 13.00 | 2.38 | 44 |
| TYD0062 | DD | 111.00 | 115.25 | 4.25 | 3.02 | 84 | |
| 42750 | TYD0054 | DD | 25.00 | 32.50 | 7.50 | 1.77 | 22 |
| DD | 80.35 | 85.40 | 5.05 | 4.33 | 63 | ||
| TYD0063 | DD | 97.30 | 103.90 | 6.60 | 2.81 | 76 | |
| 42737.5 | TYC0161 | RC | 28.00 | 33.00 | 5.00 | 2.30 | 24 |
| TYC0160 | RC | 19.00 | 32.00 | 13.00 | 1.77 | 20 | |
| TYD0069 | DD | 77.70 | 81.65 | 3.95 | 7.13 | 62 | |
| DD | 99.00 | 104.00 | 5.00 | 2.37 | 78 | ||
| 42712.5 | TYC0163 | RC | 3.00 | 24.00 | 21.00 | 2.01 | 11 |
| TYC0162 | RC | 21.00 | 25.00 | 4.00 | 2.84 | 18 | |
| TYD0068 | DD | 81.30 | 92.20 | 10.90 | 1.95 | 66 | |
| 42687.5 | TYD0067 | DD | 71.20 | 77.00 | 5.80 | 3.07 | 56 |
| 42675 | TYD0051 | DD | 57.00 | 63.00 | 6.00 | 2.29 | 47 |
| 42662.5 | TYD0066 | DD | 52.90 | 60.25 | 7.35 | 2.30 | 43 |
"These results continue to demonstrate the significant exploration potential at Bomboré," stated Ron Little, CEO for Orezone. "The expansion of the higher grade sulphide zones at Bomboré, such as P17S with an average grade of +2 gpt, will improve the economics (at current gold prices) of a potential Phase II sulphide plant expansion by mining and processing this higher grade material in the initial years to ensure a faster pay back of the expansion capital. Further studies of a Bomboré Phase II sulphide expansion, will focus only on a portion of the total Bomboré resources, which is the fresh rock (sulphide) Measured and Indicated resource of 71 Mt at 0.97 for 2.2 Moz (see release January 10, 2017) as well any expansion thereof as a result the current drill program. The well studied 2.2 Moz sulphide resource and the P17S zone are both amenable to standard milling and carbon in leach (CIL) recovery processes."
The Company has completed more than 8,000 m of auger, RC and core drilling during the first quarter and is planning an additional 15,000 m of drilling in Q2 2017.
All assays were performed using a 1kg bottle roll technique (identical to the other Bomboré samples); leach residue assays are pending for 19 holes, including the last 9 core holes drilled at P17S. A complete list of historical drill results on P17S and analytical procedures can be found on the company's website at www.orezone.com.
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, the largest and fully permitted, undeveloped oxide gold deposit in West Africa, which is situated 85 km east of the capital city, adjacent to an international highway. The Company is continuing with exploration drilling and various technical studies in order to be in a position to complete an updated feasibility study during H1 2017.
Tim Miller, SME and COO, Pascal Marquis, Geo and SVP and Ron Little, PEng and CEO of Orezone, are Qualified Persons under National Instrument 43-101 and have approved the information in this release.
