VANCOUVER, British Columbia, Sept. 11, 2019 (GLOBE NEWSWIRE) -- Orezone Gold Corporation (TSXV:ORE) (“Orezone” or the “Company”) announces it will commence a ~2,000 metre drill programme in September 2019 of both diamond and reverse circulation drilling at the Maga Hill area to follow-up on higher than average grade gold mineralization that was confirmed by the 2018 drilling at its 90%-owned Bomboré Gold Project in Burkina Faso, West Africa.
The programme is estimated to cost approximately USD $200,000 and will consist of ~1,350 m of diamond drilling (DD) and ~600 m of reverse circulation drilling (RC), is designed to advance the definition of high-grade shallowly-plunging gold mineralization on the hanging wall of the main Maga zone. The first phase of this programme will consist of shallow (< 150 m) infill and close range step-out drilling to confirm the geometry of the mineralized zones and better constrain the new resource model in this area. Results from this drilling are expected to be announced in November 2019, and a follow-up drill programme will be determined based on these results.
Highlights of Previous Maga Area Drilling
| Hole # | Section | From (m) | To (m) | Length (m) | Grade (g/t) Au |
| BBC0117 | 3675 | 35.00 | 52.00 | 17.00 | 2.38 |
| BBD0117 | 3675 | 125.00 | 137.00 | 12.00 | 2.58 |
| BBD1033 | 3675 | 93.00 | 103.00 | 10.00 | 3.12 |
| BBC2998 | 3650 | 34.00 | 55.00 | 21.00 | 2.51 |
| BBC4955 | 3625 | 32.00 | 45.00 | 13.00 | 5.61 |
| BBC4956 | 3625 | 65.00 | 72.00 | 7.00 | 5.73 |
| BBD0803 | 3625 | 43.50 | 49.00 | 5.50 | 7.07 |
| BBD0803 | 3625 | 105.00 | 113.00 | 8.00 | 5.88 |
| BMC0063 | 3625 | 8.00 | 34.00 | 26.00 | 2.06 |
| BBC3004 | 3600 | 22.00 | 31.00 | 9.00 | 4.76 |
| BBD0052 | 3600 | 50.00 | 56.00 | 6.00 | 5.36 |
| BBD0911 | 3600 | 153.00 | 160.00 | 7.00 | 6.04 |
| BBC0720 | 3575 | 6.00 | 12.00 | 6.00 | 5.26 |
| BBD0118 | 3575 | 118.00 | 128.00 | 10.00 | 4.80 |
| BBD1024 | 3575 | 38.00 | 44.50 | 6.50 | 13.19 |
| BBC2898 | 3550 | 12.00 | 26.00 | 14.00 | 2.53 |
| BBC3001 | 3550 | 8.00 | 16.00 | 8.00 | 10.36 |
| BBD0903 | 3550 | 112.00 | 117.00 | 5.00 | 7.15 |
| BBD1027 | 3550 | 11.50 | 24.50 | 13.00 | 3.99 |
| BBD1027 | 3550 | 56.50 | 69.00 | 12.50 | 4.26 |
| BBC4953 | 3500 | 24.00 | 40.00 | 16.00 | 5.20 |
| BBD0133 | 3475 | 97.50 | 111.00 | 13.50 | 3.50 |
Orezone employs a rigorous Quality Control Program (QCP) including a minimum of 10% standards, blanks and duplicates. Sampling, analytical and QAQC protocols and true widths are described at the end of this press release.
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/9747b4f6-f09d-45f4-a46b-5e1796caac55
The majority of the existing resources at Bomboré are contained within a low-grade shear-zone that has been drilled over a strike length of 11 km and averages 200 m in width. Drilling in 2017 and 2018 at Maga, P11 and Siga East areas showed the presence of discrete higher-grade zones within the mineral resource model. It is expected that the improved definition of these discrete higher-grade zones in the next mineral resource update should have a positive impact on the mineral resource within the infill drilling areas when compared to the current resource model.
Qualified Persons
Pascal Marquis, Geo and SVP and Patrick Downey, P.Eng and President & CEO of Orezone, are Qualified Persons under National Instrument 43-101 and have reviewed and approved the information in this news release.
Orezone Gold Corporation
Patrick Downey,
President and Chief Executive Officer
Vanessa Pickering
Manager, Investor Relations
Tel: 1 778 945 8977 / Toll Free: 1 888 673 0663
info@orezone.com /www.orezone.com
For further information please contact Orezone at +1 (778) 945-8977 or visit the Company’s website at www.orezone.com.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Sampling, Analytical and QAQC protocols
Orezone employs a rigorous Quality Control Program (QCP) including a minimum of 10% standards, blanks and duplicates. Laboratories noted below are independent of Orezone.
Hole #: BBD1033; BBC4955; BBC4956; BBD1024; BBD1027; BBC4953. The mineralized intervals are based on a lower cut-off grade (“LCOG”) of 0.45 gpt, a minimal width of 2 m and up to a maximum of 2 m of dilution being included between samples above the LCOG. The true width of the mineralization is approximately 95% of the drill length. The RC drilling samples were divided by Orezone employees using Rotary Sample Dividers (“RSDs”). A 2-kg split was prepared by SGS Burkina Faso s.a.r.l. (“SGS”) at the Bomboré sample preparation facility and then split by Orezone to 1 kg using RSDs. A 1-kg aliquot was analyzed for leachable gold at BIGS Global Burkina s.a.r.l (“BIGS”) in Ouagadougou, by bottle-roll cyanidation using a LeachWellTM catalyst. The leach residues from all samples with a leach grade in excess of 0.2 gpt were prepared by BIGS and then split by Orezone to 50 g using RSDs. A 50-g aliquot was analyzed by fire assay at SGS. The composite width and grade include the final leach residue assay results for all of the drill intercepts reported.
Hole #: BBD0911; BBD0903; BBC2998; BBD0803; BBC3004; BBC2898; BBC3001; BBD0117; BBD0118; BBD0133. The mineralized intervals are based on a LCOG of 0.5 g/t, a minimal width of 3 m and up to a maximum of two consecutive meters of dilution being included. The true width of the mineralization is approximately 85% of the drill length intervals. The half-core samples were collected by Orezone employees using a diamond saw. Core samples were prepared by SGS; Abilab Burkina s.a.r.l. (a subsidiary of ALS-Chemex, “Abilab”) and/or BIGS and then split by Orezone to 1 kg using RSDs. A 1 kg aliquot was analyzed for leachable gold at BIGS in Ouagadougou, by bottle-roll cyanidation using a LeachWellTM catalyst. The leach residues from samples with a leach grade in excess of 0.2 g/t were prepared by BIGS and then split by Orezone using RSDs with fire assays performed at SGS; and/or Abilab.
Hole #: BBC0720. The RC drilling samples were divided by Orezone employees using RSDs. The RC drilling samples were prepared by Abilab and SGS and a 1kg aliquot was analyzed for leachable gold at BIGS in Ouagadougou, by bottle-roll using a LeachWellTM catalyst.
Hole #: BBD0052. The half-core samples were collected by Orezone employees using a diamond saw. Sample preparation was completed at Abilab Burkina s.a.r.l. Ouagadougou (subsidiary of ALS Laboratory group) and fire assay analysis was completed at ALS Bamako, SGS Ouagadougou and ALS Vancouver.
Hole #: BMC0063. Historical results from Channel Resources.
FORWARD-LOOKING 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.
Forward-looking statements in this release include statements regarding, among others; high-grade gold ore shoots at Maga Hill, the drill results from the Maga, P11 and Siga East areas and the expectation that the improved definition of these discrete higher-grade zones in the next mineral resource update should have a positive impact on the mineral resource within the infill drilling areas when compared to the current resource model.
All such forward-looking statements are based on certain assumptions and analyses made by management and qualified persons in light of their experience and perception of historical trends, current conditions and expected future developments, as well as other factors management and the qualified persons believe are appropriate in the circumstances. The forward-looking information and statements are also based on metal price assumptions, exchange rate assumptions, cash flow forecasts, and other assumptions. Readers are cautioned that actual results may vary from those presented.
In addition, all forward-looking information and statements are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking statements including, but not limited to, use of assumptions that may not prove to be correct, unexpected changes in laws, rules or regulations, or their enforcement by applicable authorities; the failure of parties to contracts to perform as agreed; social or labour unrest; changes in commodity prices; unexpected failure or inadequacy of infrastructure, the possibility of project cost overruns or unanticipated costs and expenses, accidents and equipment breakdowns, political risk, unanticipated changes in key management personnel and general economic, market or business conditions, the failure of exploration programs, including drilling programs, to deliver anticipated results and the failure of ongoing and uncertainties relating to the availability and costs of financing needed in the future, and other factors described in the Company’s most recent annual information form and management discussion and analysis filed on SEDAR on www.sedar.com. Readers are cautioned not to place undue reliance on forward-looking information or statements.
Although the forward-looking statements contained in this news release are based upon what management of the Company believes are reasonable assumptions, the Company cannot assure investors that actual results will be consistent with these forward-looking statements. These forward-looking statements are made as of the date of this news release and are expressly qualified in their entirety by this cautionary statement. Subject to applicable securities laws, the Company does not assume any obligation to update or revise the forward-looking statements contained herein to reflect events or circumstances occurring after the date of this news release.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.