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Orezone intersects 12.20m of gold at 10.01g / t and continues to expand the high grade P17S zone in the Bomboré Gold project of the Canadian Business Journal

Vancouver, British Columbia, February 24, 2022 (GLOBE NEWSWIRE) — Orezone Gold Corporation (TSX: ORE, OTCQX: ORZCF) (“Company” or “Olezone”) is pleased to be able to provide drill results from the first 6 holes of the Phase II program at the P17 S-NE Extension in line with the P17 mineralization trend of the Bombore Gold Project in Burkina Faso. increase.

The Phase II program is a follow-up to several crossed Phase I (completed in June 2021).
A high-grade zone associated with folded mineralized granodiorite that extends outside the existing reserves and resources of P17S-NE.

Continuing the success of the Phase I program, the first results of the Phase II program confirm the continuity of mineralization at the surface and the extended downdip along the P17S-NE zone. The system remains open deep and north.

Excavation highlights

  • Hole BBD1081 from 245.80m to 10.01g / tAu 12.20m
  • 2.41g / tAu 6.00m from 79m of hole BBD1081
  • Hole BBD1077 33m to 1.21g / tAu 14.00m
  • 2.16g / tAu 6.00m from 51m of hole BBD1077
  • 2.63g / tAu 7.00m from 117m of hole BBD1077
  • Hole BBD1078 5m to 1.86g / tAu 13.00m
  • Hole BBD1079 from 47m to 1.56g / tAu 7.00m
  • Hole BBD 1080 13m to 1.27g / tAu 15.10m

Regarding the results, President and CEO Patrick Downey said: “The hole BD1081 is an important step-out hole and one of the best holes ever drilled on the P17S. Check the continuity of the down dip and extend the system further towards the P17. Multiple near-surface sections from this recent drilling program are also important. These results confirm the consistency and reproducibility of both near-surface and downplunge folding patterns, robust and continuous surfaces. It shows a nearby mineralization system. The 2021 and 2022 drills are outside the zone that intersects the current reserve pits, and they are still open at depth, beyond the current Phase II program. Drilling is guaranteed.

Analysis of the remaining three holes in P17S is expected in the coming weeks. We are now starting drilling at the P17 target, about 1.7 km north of P17S, advancing the definition of this deposit, more clearly showing the folding pattern and depth and the potential for expansion into the P17S-NE deposit.

Table 1: Results of P17S Area 2022 drill

zone hole
#
from
(M)
To
(M)
length
(M) *
School year
(G / t gold)
P17S –NE extension BBD1077 33.00 47.00 14.00 1.21
When 51.00 57.00 6.00 2.16
When 86.00 100.00 14.00 1.13
When 117.00 124.00 7.00 2.63
include 121.00 122.00 1.00 5.30
BBD1078 5.00 18.00 13.00 1.86
include 8.00 9.00 1.00 6.90
BBD1079 47.00 54.00 7.00 1.56
BBD1080 13.00 28.10 15.10 1.27 **
BBD1082 108.00 128.00 20.00 1.02 **
Depth P17S main zone BBD1081 79.00 85.00 6.00 2.41
include 84.00 85.00 1.00 6.80
When 245.80 258.00 12.20 10.01
include 246.60 257.15 10.55 11.50
When 276.10 279.70 3.60 3.30
include 278.50 279.70 1.20 5.70

* The actual width of the P17S area drill is about 90% of the drilled length.
** Preliminary results without exudate residue assay. Final grades usually increase by 4-6% from those listed.

Figure 1: P17 Trend Plan MapIt is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/7ee1a284-0ec6-43cc-a709-3072dcf77cd2.

Figure 2: Section 730190EIt is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/3dc71772-af5b-46fa-bc5a-1c1ddae938ff.

Figure 3: Section 730130E It is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/79e4e941-332d-4030-994c-d4d586705378.

About Olezone Gold Corporation

Orezone Gold Corporation (TSX: ORE OTCQX: ORZCF) is a Canadian development company that owns a 90% stake in Bomboré, one of the largest undeveloped gold deposits in Burkina Faso.

In a 2019 feasibility study, Bombore is an attractive excavator-friendly gold project, with an annual mine life of 13 years or more expected to produce 118,000 ounces of gold annually, with an all-in sustainability of US $ 730 / ounce, tax-excluded. It is emphasized that the later payback period is 2.5. The estimated gold price is $ 1,300 per ounce. Bombole is backed by a mineral resource base of over 5 million gold ounces and has great potential for expansion. Orezone is fully funded to bring Bomboré to production and the first gold injection is scheduled for Q3-2022.

Patrick Downey
President and Chief Executive Officer

Vanessa Pickering
Manager, Investor Relations

Tel: 1 778 945 8977 / Toll free number: 1 888 673 0663
info@orezone.com / www.orezone.com

Qualified person

Dr. Pascal Marquis, Senior Vice President of Exploration, is a qualified person who has approved the scientific and technical information in this news release.

QA / QC

The mineralization interval is based on a low cutoff grade of 0.45 g / t, with a minimum width of 1.5 m and a maximum dilution of 2.0 m. The actual width of the mineralization is about 90% of the length of the drill. Samples of half-core drills were cut by Orezone employees using a diamond saw. Samples were prepared by SGS Burkina Fasosar (“SGS”) at the Bombole facility and divided into 1 kg by Oleson using a rotary sample divider (“RSD”). Ouagadougou’s BIGS Global Burkina Faso (“BIGS Global”) analyzed 1 kg of aliquot leached gold by bottle roll cyanide using LeachWell.TM catalyst. The leachate residue from all samples with a leachate grade of 0.4 g / t or higher was prepared by BIGS Global and split into 50 g by Orezone using RSD. A 50 g aliquot was analyzed by fire analysis at BIGS Global.

Orezone has a strict quality control program that includes a minimum of 10% standards, blanks and duplicates. Composite widths and grades include the results of the final exudate residue assay for most drill intercepts reported. Details can be found in the tables posted on our website.

For more information, please contact Orezone at +1 (778) 945-8977 or visit the following company website: www.orezone.com..

The Toronto Stock Exchange does not approve or disapprove of the information contained in this news release.

Precautions regarding forward-looking statements

This press release contains “forward-looking information” in the sense of applicable Canadian securities law and “forward-looking statements” in the sense of applicable US securities law (collectively, “forward-looking statements”. ”) Contains specific information that may make up. The description of the future outlook is “plan”, “expectation”, “project”, “intention”, “believe”, “Predict”, “estimate”, “potential”, “Possible” When other resemble words, Also A statement that a particular event or condition “can occur”, “occurs”, “can occur”, or “must occur”. The forward-looking statements in this press release include, but are not limited to, statements regarding the possibilities of P17 and P17S. The Bomboré project will be fully invested in production and the first gold is expected by Q3-2022.

All such forward-looking statements are based on specific assumptions and analyzes made by management in the light of past trends, current conditions, and the experience and perceptions of what is expected. future development, that’s why good that’s why other cause management When the Qualified Man believe Is appropriate Status.

All forward-looking statements are subject to various risks and uncertainties, as well as other factors that may cause actual events and outcomes to differ materially from those predicted. of the Looking to the future statement include, However No exclusive To, Delays caused by COVID-19 pandemics, terrorists, or other violent attacks, the Failure of party To A contract that respects contractual promises, unexpected changes in laws, rules or regulations, or their enforcement by applicable authorities. The parties to the contract cannot perform as agreed.Social Also Labor insecurity; Changes in product prices; Unexpected failures or inadequacies in infrastructure, excess or potential project costs, accidents and equipment failures, political risks, key managers and general Unexpected changes in economic, market, or business conditions, exploration program failure programs, including drilling, expected outcomes, and ongoing and uncertainties related to the availability and cost of future funding needs. Failures, and other factors listed in our latest annual information form and management discussions and analysis submitted to SEDAR at www.sedar.com. Readers should be careful not to place excessive reliance on forward-looking statements.

What management is based on the forward-looking statements contained in this press release? of the society I believe that is Appropriate Assumption, the society you can not Guarantee Investors say the actual results will be consistent with these forward-looking statements.A statement about these future prospects that is Made that’s why of the date of this push release When that is Expressly Qualified of their The entire To This note statement. subject To Applicable Securities law, the society To do No Estimated Any Obligation to update or revise any forward-looking statement contained herein to reflect events or circumstances that have occurred since the date of this report. release.


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Orezone intersects 12.20m of gold at 10.01g / t and continues to expand the high grade P17S zone in the Bomboré Gold project of the Canadian Business Journal

Source link Orezone intersects 12.20m of gold at 10.01g / t and continues to expand the high grade P17S zone in the Bomboré Gold project of the Canadian Business Journal

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