Orezone Files Bomboré Phase II Expansion Study Technical Report
24 Novembre 2023 - 9:53PM
Orezone Gold Corporation (TSX: ORE, OTCQX: ORZCF)
(“Orezone” or “Company”) announces that, further to its news
release dated October 11, 2023, the Company has filed an
independent National Instrument 43-101 technical report entitled
“Bomboré Phase II Expansion, Definitive Feasibility Study” (the
“FS”).
A copy of the FS is available on SEDAR+ and the
Company’s website.
The FS was prepared for Orezone by personnel
from Lycopodium Mineral Canada Ltd. and other industry consultants,
each of whom is a "qualified person" within the meaning of NI
43-101 and considered to be "independent" of the Company under
Section 1.5 of NI 43-101.
About Orezone Gold
Corporation
Orezone Gold Corporation (TSX: ORE OTCQX: ORZCF)
is a Canadian mining company operating the open pit Bomboré Gold
Mine in Burkina Faso.
The Company is mining and processing the Phase
I near surface free-dig oxides at a throughput of 5.9 million
tonnes per annum (Mtpa). The Company’s planned Phase II Expansion
consists of an independent 4.4Mtpa hard rock plant operating
alongside the existing oxide plant to deliver a significant
increase in annual gold production at a low incremental capital
cost. Construction of the new 4.4Mtpa hard rock plant will enable
Bomboré to produce an average of 209,000 gold oz/year at a
mine-level AISC of $1,121/oz for over 8 years. First gold from the
Phase II expansion is scheduled for Q3-2025. Significant
exploration potential exists to expand Bomboré’s mineral reserves
through future resource conversion and new discoveries from
drilling of promising high-priority targets.
Orezone is led by an experienced team focused on
social responsibility and sustainability with a proven track record
in project construction and operations, financings, capital markets
and M&A.
The technical report entitled Bomboré Phase II
Expansion, Definitive Feasibility Study is available on SEDAR+ and
the Company’s website.
Contact Information
Patrick DowneyPresident and Chief Executive
Officer
Vanessa PickeringManager, Investor Relations
Tel: 1 778 945 8977 / Toll Free: 1 888 673
0663info@orezone.com / www.orezone.com
Qualified Persons
Pascal Marquis, Geo., Ph.D., SVP; Dale Tweed, P.
Eng., VP Engineering; and Rob Henderson, P. Eng., VP Technical
Services of Orezone, are Qualified Persons under NI 43-101 and have
reviewed and approved the scientific and technical information
contained in this news release. Messrs. Marquis, Tweed, and
Henderson are not independent within the meaning of NI
43-101.
Information and Forward-Looking
Statements
This news release contains certain
“forward-looking information” within the meaning of applicable
Canadian securities laws. Forward-looking information and
forward-looking statements (together, “forward-looking statements”)
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.
The conclusions and estimates of the FS
represent forward-looking statements. The forward-looking
information includes pricing assumptions, sales forecasts,
projected capital and operating costs, mine life and production
rates, implementation schedules and other assumptions.
Forward-looking statements are based upon the responsible Qualified
Person’s opinion at the time they are made and may involve risks
and uncertainty. Although each of the responsible Qualified Persons
has attempted to identify factors that could cause actual events or
results to differ materially from those described in the FS, there
may be other factors that could cause events or results not be as
anticipated, estimated or projected. There can be no assurance that
forward-looking statements in the FS will prove to be accurate, as
actual results and future events could differ materially from those
anticipated in such statements or information. Accordingly, readers
should not place undue reliance on forward-looking statements. The
conclusions and estimates stated in the FS are to the accuracy
stated in the FS as at the effective date stated in the FS and rely
on the assumptions stated in the FS. The results of further work
may indicate that the conclusions, estimates and assumptions in the
FS need to be revised or reviewed. The Qualified Persons have used
their experience and industry expertise to produce the estimates
and approximations in the FS. Where the Qualified Persons have made
those estimates and approximations, they are subject to
qualifications and assumptions, and these estimates and
approximations contained in the FS will be prone to fluctuations
with time and changing industry circumstances. The FS should be
construed in light of the methodology, procedures and techniques
used to prepare the FS. Sections or parts of the FS should not be
read or removed from their original context.
On October 27, 2023, the President of Burkina
Faso signed a decree to increase royalty rates on gold sales.
Certain legislative procedural matters are required before the new
royalty rates become law and as of the date of this news release,
these had not yet occurred. These new rates will not have a
material impact on mineral reserves, mineral resources or the
project’s economics. Please see Section 22 of the FS for further
details.
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