ORE Orezone Gold Corporation

Orezone Gold Corporation (TSX:ORE) is pleased to announce an update of the
ongoing feasibility work and 21,000 m drill program at its 100%-owned Bombore
Gold Project in Burkina Faso.


Scrubbed Ore Column Test Results

Final results for the initial coarse ore column test of the scrubbed saprolite
ore have now been issued by Kappes, Cassiday & Associates (KCA) in Reno, Nevada.
Overall gold recovery has been calculated at 88%, with all size fractions
showing excellent percolation rates and gold extraction in the 80 and 90 percent
range. The leach curve follows the signature 'fast leach kinetics' of the gold
content typical of Bombore ore, with the majority of gold extraction taking
place within the first few days of solution application. Screen analysis on the
heads and tails indicate very little, if any, degradation of the size fractions.


Testwork on a second column containing scrubbed coarse ore is nearing completion
and exhibits the same excellent leach characteristics, with estimated recovery
to be in the high 80 to low 90 percent gold extraction range. The column will be
rinsed and sent for assays in the coming days with final results expected in
August.


A second round of metallurgical tests using 2.2 tonnes of oxide core is being
initiated this month at KCA. The work is designed to emulate the modified
flowsheet that combines heap leaching (HL) with agitated leach tanks (CIL). The
results are expected to confirm or improve upon the already excellent leaching
properties of the Bombore oxide ores. Tests will include further scrubbing of
the ore for coarse column leach tests on the +0.212 mm fractions and CIL tests
on the -0.212 mm fractions. Rheological and physical characteristic tests will
also be performed to assist with the sizing and design of the equipment for the
combined HL/CIL plant.


Heap Leach Pad Over Liner

Test results on the scrubbed crushed ore continue to show that it is acceptable
for use as over liner material (drainage material on top of the liner) on the
leach pad, thereby significantly reducing the capital cost of crushing and
screening gravel from local quarries. The February 2014 Bombore Preliminary
Economic Assessment includes approximately $20M of total capital expenditures
for gravel as over liner material. In addition to the positive compaction and
percolation tests performed earlier on the coarse ore, recent abrasion tests
also indicate that the material will meet the required over liner
specifications. Further tests will be completed as part of the final program of
metallurgical and geotechnical studies underway with KCA and Golder.


Scrubber Tests

KCA also analyzed the material specifications and process parameters of the
oxide ore scrubbed for the coarse column test work with positive results.
Scrubbing efficiency of greater than 90% is realized within 3 to 5 minutes. This
coincides with earlier tests carried out by Met Solve on saprolitic ores which
indicated approximately 3 minutes scrubber residence time after crushing to less
than 75 mm. The two separate tests indicate that scrubbing is most effective in
water at 50% solids. Both tests also indicated that the coarse/fine split
(+0.212 mm/-0.212 mm) is approximately 35%/65% on the saprolitic ores with less
than 10% of the fine fraction remaining in the coarse split after scrubbing is
complete.


21,000 m Drilling Program

Since April 2014, 17,000 m of RC and 1,100 m of core drilling has been
completed. The program is focused on infilling and upgrading of the oxide
resource in the northern half of the deposit. The remaining 3,000 m of RC should
be completed by the end of the month. Results have been received for only 130
holes or 8,600 m. An additional 29,000 m of drill results from last year's drill
program have not been included in the 2013 resource estimation. Highlights of
all the results not included in the latest (2013) resource estimation are as
follows:




--  Core holes - 1.37 g/t is the weighted average grade of the mineralized
    intervals from the core holes excluded from the 2013 resource, above a
    lower cut-off of 0.5 g/t, with all assays cut to 5 g/t. 
--  RC holes - 1.08 g/t is the weighted average grade of the mineralized
    intervals from the RC holes excluded from the 2013 resources, above a
    lower cut-off of 0.5 g/t, with all assays cut to 5 g/t. 
--  A total of 607 RC holes (33,265 m) have now been reported since the 2013
    resource, representing an increase of 13% with respect to the meterage
    included within the 2013 resource. 
--  The next resource update is planned for Q1 2015 which will include the
    50,000 m of drill results.



Approximately 600 m of drilling was focused on new near-surface higher grade
sulphide target (P17S) located along the main shear zone trend, 2 km south of
Bombore. This zone was discovered in a previous program but required further
drilling to confirm its significance and geometry. Results from 32 core and RC
holes indicate a deformed and shallowly dipping granodiorite unit that averages
7.1 m in thickness (true width is approximately 85%) with an average uncut grade
of 2.65 g/t (using a 0.35 g/t cutoff). The drilling extends over an area of
about 1 hectare with an average depth to the mineralized unit of only 28 m; the
deepest intersection is 55 m. Projecting the geology to a depth of 100 m could
double the prospective area. All assays were performed using a 1kg bottle roll
technique (identical to the other Bombore samples) with indicative cyanide
soluble recoveries over 95%. Although these results are interesting with grades
more than double the average grade of the Bombore resource, further drilling is
not likely to occur until after the Bombore oxide deposit is developed.


Click here for a complete list of drill results and analytical procedures
referred to in this release.


About Orezone Gold Corporation

Orezone is a Canadian company with a gold discovery track record of +12 Moz and
recent mine development experience in Burkina Faso, West Africa. The Company
owns a 100% interest in Bombore, the largest undeveloped oxide gold deposit in
West Africa which is situated 85 km east of the capital city, adjacent to an
international highway. The Company is continuing with various technical studies
in order to be in a position to complete a full feasibility study and an
application for a mining permit before year-end.


Carl Defilippi of Kappes Cassiday & Associates; and Tim Miller, COO, Pascal
Marquis, SVP Exploration and Ron Little, CEO of Orezone, are Qualified Persons
under National Instrument 43-101 and have reviewed the information in this
release. Pascal Marquis is the Qualified Person in charge of the drilling
program and related analysis.


FORWARD-LOOKING STATEMENTS AND FORWARD-LOOKING INFORMATION: This news release
contains certain "forward-looking statements" within the meaning of applicable
Canadian securities laws. Forward-looking statements and forward-looking
information 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; completing various
technical studies for Bombore in 2014 and their potential impact on the economic
returns on the project, completing the FS and applying for a mining permit by
year-end 2014, updating the resource model and mine plan in Q1 2015, and
becoming a mid-tier gold producer.


FORWARD-LOOKING STATEMENTS are based on certain assumptions, the opinions and
estimates of management at the date the statements are made, and 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. These factors include the inherent risks involved in
the exploration and development of mineral properties, the uncertainties
involved in interpreting drilling results and other geological and geotechnical
data, fluctuating metal prices, the possibility of project cost overruns or
unanticipated costs and expenses, the ability of contracted parties (including
laboratories and drill companies to provide services as contracted);
uncertainties relating to the availability and costs of financing needed in the
future and other factors. The Company undertakes no obligation to update
forward-looking statements if circumstances or management's estimates or
opinions should change. The reader is cautioned not to place undue reliance on
forward-looking statements. Comparisons between any resource model and estimates
with the subsequent drill results are preliminary in nature and should not be
relied upon as potential qualified changes to any future resource updates or
estimates.


Readers are advised that National Instrument 43-101 of the Canadian Securities
Administrators requires that each category of mineral reserves and mineral
resources be reported separately. Readers should refer to the annual information
form of Orezone for the year ended December 31, 2013 and other continuous
disclosure documents filed by Orezone since January 1, 2014 available at
www.sedar.com, for this detailed information, which is subject to the
qualifications and notes set forth therein.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Orezone
(613) 241-3699
Toll Free: (888) 673-0663

Orezone Gold (TSX:ORE)
Historical Stock Chart
Von Apr 2024 bis Mai 2024

Orezone Gold (TSX:ORE)
Historical Stock Chart
Von Mai 2023 bis Mai 2024