Orezone Updates Bombore With Positive Drilling Results
03 Juin 2008 - 2:18PM
Marketwired
OTTAWA, ONTARIO (AMEX: OZN) is pleased to provide an update on
the Bombore gold project in Burkina Faso, West Africa. Orezone has
recently received all of the assays from the recent 19,662m Reverse
Circulation (RC) drill program. This program was designed to infill
sections of the Met-Chem resource model (see February 14, 2008
press release) and to also test for new zones and extensions.
Drilling results support the continuity of the current resource
model and have identified several new zones outside of the current
model including: 28m of 0.74g/t at Maga, 12m of 3.38g/t at P8P9 and
12m of 2.71g/t at Siga.
Table 1. Summary of highlights from 2008 RC drilling at Bombore Project.
-------------------------------------------------------------
Prospect Section Hole From To Length Au
(ID) (ID) (ID) (m) (m) (m)(i) (g/t)(ii)
-------------------------------------------------------------
-------------------------------------------------------------
Maga 3900 BBC372 0.0 11.0 11.0 0.82
-------------------------------------------------------------
Maga 3400 BBC397 6.0 10.0 4.0 3.42
-------------------------------------------------------------
Maga 3200 BBC412 5.0 13.0 8.0 1.61
-------------------------------------------------------------
Maga 3100 BBC413 50.0 62.0 12.0 0.57
-------------------------------------------------------------
Maga 3100 BBC419 36.0 41.0 5.0 2.40
-------------------------------------------------------------
Maga 2800 BBC454 30.0 58.0 28.0 0.74
-------------------------------------------------------------
P8P9 1900 BBC498 31.0 43.0 12.0 3.38
-------------------------------------------------------------
P8P9 1700 BBC508 30.0 45.0 15.0 2.50
-------------------------------------------------------------
P8P9 1700 BBC509 20.0 33.0 13.0 1.11
-------------------------------------------------------------
P8P9 1600 BBC513 12.0 23.0 11.0 0.80
-------------------------------------------------------------
P8P9 1500 BBC518 1.0 12.0 11.0 0.59
-------------------------------------------------------------
P8P9 1400 BBC523 2.0 7.0 5.0 6.43
-------------------------------------------------------------
P8P9 1300 BBC530 54.0 63.0 9.0 1.36
-------------------------------------------------------------
P8P9 1100 BBC539 2.0 24.0 22.0 0.61
-------------------------------------------------------------
P11 48500 BBC568 71.0 74.0 3.0 29.99
-------------------------------------------------------------
Siga 12700 BBC579 12.0 15.0 3.0 4.72
-------------------------------------------------------------
Siga 12600 BBC584 39.0 49.0 10.0 1.09
-------------------------------------------------------------
Siga 12200 BBC596 69.0 74.0 5.0 2.85
-------------------------------------------------------------
Siga 12200 BBC597 3.0 12.0 9.0 2.00
-------------------------------------------------------------
34.0 40.0 6.0 2.41
-------------------------------------------------------------
Siga 12300 BBC599 18.0 28.0 10.0 0.92
-------------------------------------------------------------
Siga 12100 BBC608 23.0 37.0 14.0 0.68
-------------------------------------------------------------
Siga 12000 BBC610 18.0 27.0 9.0 1.18
-------------------------------------------------------------
43.0 54.0 11.0 1.66
-------------------------------------------------------------
Siga 11900 BBC623 7.0 18.0 11.0 0.55
-------------------------------------------------------------
21.0 31.0 10.0 0.79
-------------------------------------------------------------
Siga 12000 BBC625 38.0 50.0 12.0 2.71
-------------------------------------------------------------
Siga 12000 BBC626 12.0 23.0 11.0 0.61
-------------------------------------------------------------
Siga 12200 BBC631 19.0 26.0 7.0 3.07
-------------------------------------------------------------
(i) Down hole intervals: true widths expected to be approximately 70%
(ii)0.4 g/t Cut-off
Assay data from the recent core and RC drill programs are
currently being compiled along with new geological models to
produce an updated resource estimate scheduled for completion in
the third quarter of 2008. Orezone has contracted SRK Consulting
(Canada) Inc. from Toronto, Ontario to audit the Bombore resource
estimate. Bombore currently has Measured and Indicated resource of
576,000oz at 0.61g/t and Inferred resource of 501,000oz at 0.66g/t
(using a 0.4g/t cut off).
Orezone has also received a technical review from Herbert
Osborne and Associates (HOA) with respect to its recent
metallurgical test program. Based on a limited ICP analysis, HOA
concluded that there were no indications of elements that would
affect the recovery of gold or result in higher cyanide
consumption. It was determined that average recoveries from the
oxide facies exceeded 90% and in those oxide samples without coarse
gold, leaching was essentially complete in 12-24 hours. Preliminary
heap leach recoveries were estimated at 85% for oxide material and
81% for transitional material. A column test program was
recommended in order to determine more specific recovery
parameters. Orezone intends to commence a column test program in
the third quarter of 2008 and has also commenced a multi-element
litho-geochemistry sampling program and ore petrography
investigation to further improve the understanding of the gold
mineralization at Bombore.
"With better than expected results from the drilling programs
and positive metallurgical results, this project is exhibiting all
of the attributes to become a significant addition to Orezone's
growth profile. Our vision is a large tonnage, heap-leachable
surface oxide resource that would represent low stripping ratios
and low production costs. We anticipate commencing a scoping study
after our resource update this fall," stated Ron Little, CEO for
Orezone.
Drilling on the Bombore property was supervised by M.S. (Steve)
King, P. Geo., Vice-President, Exploration, 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. The Bombore Metallurgical Program
consisted of three separate analytical streams to determine the
total gold content, grindability and occurrence of coarse gold and
the leach characteristics over a 72 hour period. Metallurgical
samples were prepared by riffle splitting a 3kg sample and
combining six intervals to produce an 18kg composite sample. Three
2kg samples were subsequently riffle split for the analytical
streams and the remainder of the material stored. Bottle-roll
cyanide extraction (with LeachWELL(TM)) was completed at Abilab
Burkina SARL (subsidiary of ALS Laboratory group) in Ouagadougou.
Fire assay analyses were completed at ALS Bamako (Mali) and ALS
Vancouver (Canada).
Orezone is an explorer and emerging gold producer whose main
asset is Essakane, the largest gold deposit in Burkina Faso, West
Africa. Essakane contains 4.0Moz of indicated resources and 1.3Moz
of inferred resources at a 0.5g/t cut-off. Reserves contained
within a US$600 gold price mine plan are 3.0Moz. The deposit
remains open and untested below 260m from surface and is surrounded
by several satellite deposits. 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 Section 21E of the United States Securities Exchange
Act of 1934, as amended, and "forward-looking information" 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 news release include statements with respect to
heap-leach recoveries, the timing of release of a resource update
and scoping study, and our vision for the Bombore gold 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, and that no labour shortages or
delays are incurred. 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, 2007, and other continuous disclosure
documents filed by Orezone since January 1, 2008 available at
www.sedar.com, for this detailed information, which is subject to
the qualifications and notes set forth therein.
Cautionary Note to United States Investors Concerning Estimates
of Measured, Indicated and Inferred Resources: This press release
uses the terms "Measured", "Indicated" and "Inferred" Resources.
United States investors are advised that while such terms are
recognized and required by Canadian regulations, the United States
Securities and Exchange Commission does not recognize them.
"Inferred Mineral Resources" have a great amount of uncertainty as
to their existence, and as to their economic and legal feasibility.
It cannot be assumed that all or any part of an Inferred Mineral
Resource will ever be upgraded to a higher category. Under Canadian
rules, estimates of Inferred Mineral Resources may not form the
basis of feasibility or other economic studies. United States
investors are cautioned not to assume that all or any part of
Measured or Indicated Mineral Resources will ever be converted into
Mineral Reserves. United States investors are also cautioned not to
assume that all or any part of an Inferred Mineral Resource exists,
or is economically or legally mineable.
Contacts: Orezone Resources Inc. Ron Little, CEO 613-241-3699
888-673-0663 rlittle@orezone.com Orezone Resources Inc. Janet
Eastman, Manager IR 613-241-3699 888-673-0663
jeastman@orezone.com
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