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Orezone Intersects 1.64 g/t Gold over 46.00m Significantly Extending Mineralization 240m below Life of Mine Reserve Pit

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Orezone Intersects 1.64 g/t Gold over 46.00m Significantly Extending Mineralization 240m below Life of Mine Reserve Pit

 

 

 

 

 

Orezone Gold Corporation (TSX: ORE) (OTCQX: ORZCF) is pleased to provide initial drill results from its recently announced multi-year exploration campaign at its flagship Bomboré gold mine. Initial targeting of this program centered on the North Zone, with wide spaced drilling successfully demonstrating the continuity of the mineralized system at depth, both in terms of grade and overall width.

 

Drill Highlights:

  • Hole BBD1313 intersected 1.02 g/t Au over 57.00m, from 100m below the reserve pit
  • Hole BBD1314 intersected 1.64 g/t Au over 46.00m, from 200m below the reserve pit
    • Including a sub-interval of 2.03 g/t Au over 22.00m

 

Patrick Downey, President & CEO stated, “Over the past several months, the Company has completed a detailed review of the Bomboré exploration model, which highlighted significant exploration upside. This analysis was aided by a more recent structural review of the project, and ongoing detailed mapping and grade control drilling within the current oxide open pits.

 

These first set of reported holes from our multi-year exploration campaign clearly shows that we have a robust exploration model, and highlights the significant exploration upside to Bomboré’s current stated global resource of 5.13 million gold ounces. The wide spaced nature of this initial targeting, and associated results, underscores the continuity of the mineralized system at depth within the North Zone, with mineralization now traced to a vertical depth of 340m, or 240m below the life of mine reserve pit.

 

The initial drill results have positive implications in terms of materially extending the life of mine at Bomboré and achieving the Company’s targeted long-term global resource base of 7 to 10 million gold ounces. This outlook is underscored by the fact that hole BBD1314 was only the 15th hole, across the project’s greater than 14km long reserve defined strike length, to be drilled below a vertical depth of 300m. As such, we see outstanding exploration potential within the North Zone, and extending across the entire mineralized system at depth.

 

Drilling continues at the next targets in the North Zone, and given the success of these first two holes, we plan to add a second drill rig to the ongoing program. The primary focus of this Phase I program will be on wide spaced drilling at depth, with the goal of illustrating the broader size, scale and potential of the Bomboré system. As part of this drill program, we also plan to locally follow-up on a number of higher-grade intercepts, such as the recently released 113.74 g/t gold over 8.00m in the Siga Zone (see press release dated June 12, 2024), which we believe with additional drilling may resolve into higher grade plunges and potentially support an underground mining scenario longer term.

 

Overall, this is an exciting time for Orezone, both as we ramp-up exploration and discovery at Bomboré, and continue to advance the hard rock expansion, which is set to increase production at Bomboré by approximately 50% to a targeted 180,000oz per annum starting in 2026.”

 

North Zone Overview

 

The North Zone, which is a sub-zone of the 14km long Bomboré Shear Zone, is reserve defined across a continuous strike length of over 2.5km and down to a shallow average depth of less than 100m. The reported intercepts are hosted within a broad structural corridor, with consistent gold grades over mineralized drill widths of up to 30-60m. Mineralization within the North Zone is hosted within a deformed and altered metasedimentary unit, with the reported holes ending in a post mineral intrusive. Follow-up drilling within the North Zone will look to push subsequent holes further at depth, to evaluate the potential to drill through the post mineral intrusive, and back into the mineralized metasediments. This has positive implications in terms of potentially extending the limits of the delineated footwall further to the northwest, a prospect which is supported by recently identified near-surface mineralization.

 

Bomboré Drill Results

 

Table 1: Highlight Drill Intercepts from the North Zone

 

Hole From
(m)
To (m) Length (m)* Grade (g/t Au) Type
BBD1313 12.40 23.50 11.10 0.75 Oxide
and 241.00 298.00 57.00 1.02 Hard Rock
BBD1314 375.00 421.00 46.00 1.64 Hard Rock
incl. 375.00 397.00 22.00 2.03 Hard Rock
incl. 407.00 410.00 3.00 5.56 Hard Rock

* True widths for North Zone drilling are approximately 85% of drilled lengths.

 

Figure 1: Bomboré Gold Mine Property Map

 

 

Figure 2: North Zone Long Section Looking Southeast

 

 

Figure 3: North Zone Cross Section Looking Northeast

 

 

About Orezone Gold Corporation

 

Orezone Gold Corporation is a West African gold producer engaged in mining, developing, and exploring its flagship Bomboré Gold Mine in Burkina Faso. The Bomboré mine achieved commercial production on its oxide operations on December 1, 2022, and is now focused on its staged hard rock expansion that is expected to materially increase annual and life-of-mine gold production from the processing of hard rock mineral reserves. 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.

 

Posted October 10, 2024

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