P17S NE Strike Length Now Drilled Over 600 m Outside of Reserve Pit
Orezone Gold Corporation (TSX-V: ORE) (OTCQX: ORZCF) is pleased to announce additional results from its ongoing drilling program to test the expansion potential of the P17 trend at its Bomboré Gold Project, located in Burkina Faso.
The focus of this latest drilling was to test the continuity of high-grade mineralization into the “Gap Zone” between P17S and P17. This area had not been previously subject to any drilling and represented a 600 m gap between the P17S NE extension and P17 to the north. With the success of these new results, the strike extent of P17S is now over 600 m outside of the existing reserve pit and remains open at depth and to the north towards P17.
Patrick Downey, President and CEO stated, “The P17 trend of mineralization is shaping up to be an outstanding exploration target for Bomboré. Intersecting such a broad zone of strong gold grade mineralization in the Gap Zone supports the Company’s belief that the P17 area has the potential to host a large-scale higher-grade gold resource amenable to open pit mining. It is noteworthy that the drilling is intercepting very broad continuous zones of mineralization that are hosted in a prospective folded granodiorite intrusive that is much thicker than the folded granodiorite within the P17S reserve pit. We have intercepted several limbs of these plunging structures which now extend into the Gap Zone and indicates the existence of a large promising target between P17S and P17, a mineralized trend with a potential strike extent of 1.7 km and open in multiple directions. Further drilling will infill this zone to confirm the continuity of the P17S extension to the shallow P17 zone to the north. We plan to re-commence drilling in Q4 after the 2021 rainy season has ended.”
Recent drilling in 2021 northeast of reserves and resources at P17S identified several wide, multigram intersections near surface and outside current reserves or resources such as BBD1066 which intersected 32.00 m of 3.98 g/t gold (see Orezone’s June 8, 2021 news release). This most recent drilling has also successfully intersected broad zones of mineralization at depth, extending the down plunge strike of the P17S NE deposit into the untested Gap Zone by 150 m. The P17S NE deposit remains open at depth and to the north.
Table 1: P17S Area 2021 Selected Drill Results
* True widths for P17S area drilling are approximately 90% of drilled lengths.
** Results from June 8, 2021 news release restated following final leach residue assays.
Figure 1: P17 Area Plan Map
Figure 2: P17S NE Extension Long Section 730250 – Looking West
About Orezone Gold Corporation
Orezone Gold Corporation is a Canadian development company which owns a 90% interest in Bomboré, one of the largest undeveloped gold deposits in Burkina Faso.
The 2019 feasibility study highlights Bomboré as an attractive shovel-ready gold project with forecasted annual gold production of 118,000 ounces over a 13+ year mine life at an All-In Sustaining Cost of US$730/ounce with an after-tax payback period of 2.5 years at an assumed gold price of US$1,300/ounce. Bomboré is underpinned by a mineral resource base in excess of 5 million gold ounces and possesses significant expansion potential. Orezone is fully funded to bring Bomboré into production with the first gold pour scheduled for Q3-2022.
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We acknowledge the [financial] support of the Government of Canada.