Orezone Gold drills 1.72 g/t gold over 40.4 metres at Bombore, Burkina Faso

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Orezone Gold Corp. [ORE-TSX; ORZCF-OTCQX] reported further results from its phase 3 resource definition drill program from the P8P9 and Maga zones at its 90%-owned Bombore gold mine in Burkina Faso.

The focus of the phase 3 drill program has been the expansion of the P17 zone and conversion of Inferred Resources into Measured and Indicated ahead of the upcoming sulphide expansion study. Today’s release marks the final set of phase 3 diamond drill results, which contribute to the +100,000 metres of additional drilling to be incorporated into the upcoming resource and reserve update and expansion study.

Recent drilling continues to return positive results confirming the following: Delineation drilling at P8P9 revealed a higher-grade zone of plunging mineralization. To date, this zone has been traced over 150 metres along strike, and remains open at depth and towards surface. The higher-grade zone is similar to that observed in the emerging high-grade P17 zone located 8km to the south as it is associated with, and/or in proximity to, a granodiorite intrusion. Several intercepts at P8P9 returned thick well-mineralized intervals.

Phase 3 drilling at P8P9 was successful in further illustrating the continuity of mineralization below the current shallow reserve pit, with mineralization locally traced to a depth of ~250 metres below surface.

Additional drilling at Maga continued to return several high-grade intercepts in the sulphide zone, further illustrating down-dip continuity. These results follow the more extensive set of Maga drill results released on December 21, 2022.

Still outstanding from the phase 3 drill program are the RC oxide drill results, which are expected to be released in the coming weeks.

P8P9 drilling highlights include 1.72 g/t gold over 40.40 metres from 99 metres, including 4.31 g/t gold over 8.25 metres  from 126.75 metres in hole BBD1294; 1.49 g/t Au over 53.70m from 39.30m in hole BBD1305, including 13 m at 2.01 g/t from 57 m; 1.05 g/t Au over 30 m from 182 m and a further 1.85 g/t Au over 24 m from 222 m in hole BBD1298, including 2.88 g/t Au over 11 m from 225 m; 1.06 g/t Au over 44 m from 260 m in hole BBD1312, including 2.75 g/t Au over 8 m from 271 m; 1.16 g/t Au over 21 m from 83 m in hole BBD1288; 2.08 g/t Au over 10.30m from 170.50m in hole BBD1289; 1.98 g/t Au over 11.70m from 31.80m in hole BBD1309, including 4.59 g/t Au over 4.50m from 39 m; and 1.37 g/t Au over 14.40m from 166 m in hole BBD1293.

Maga drilling highlights includes 5.59 g/t Au over 15 m from 221 m in hole BBD1287, including 62.21 g/t Au over 4.50m from 225 m; 3.14 g/t Au over 18 m from 197 m in hole BBD1285; 9.78 g/t Au over 2 m from 208 m in hole BBD1283; 10.83 g/t Au over 2 m from 303 m in hole BBD1283.

Patrick Downey, president and CEO, stated: “Our 2022 resource definition and expansion drill program has exceeded expectations, with several new high-grade zones now well-defined, all of which remain open to further expansion. The most recent results from P8P9 have delineated a new thick, well mineralized zone, with several high-grade intercepts over downhole widths ranging from 20 metres to 50 metres. This zone remains open in several directions including towards surface. All sulphide drill results have now been received and the resource update, which will incorporate over 100,000 metres of new drilling, is now well-advanced. The sulphide expansion study will provide the platform to significantly increase annual throughput and production at the Bombore operation and is expected to be released in Q3 2023.”

Orezone is focusing on mining and processing the Phase I near surface free-dig oxides at a planned annual throughput of 5.2 million tonnes. The company believes that Bombore has a significant underlying sulphide resource to support a substantially larger Phase II expansion. The company recently completed a resource definition drill program, and plans to issue an updated mineral resource, reserve and life of mine plan, as part of this Phase II expansion. It is expected that the pending study will be completed in Q3-2023 to be followed by a production decision.

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