OTTAWA, ONTARIO — (Marketwired) — 06/04/13 — Orezone Gold Corporation (TSX: ORE) is pleased to provide an update on a recently completed metallurgical study and the latest drill results for its wholly owned Bondi Gold Project in Burkina Faso, West Africa. Bondi is the Company-s second tier project with an NI 43-101 qualified resource of 282,000 oz of Measured and Indicated resources (4.2 Mt @ 2.1 g/t) and 149,700 oz of Inferred resources (2.5 Mt @ 1.8 g/t).
Metallurgical Highlights
Drilling Highlights
Metallurgical Study
A suite of thirty-six samples representative of Bondi oxide, sulphide and mixed gold-bearing material were submitted to McClelland Laboratories in Sparks, Nevada last year for detailed head analysis to characterize the samples by grade, cyanide solubility, elemental make-up and carbon and sulphide content. Direct agitated cyanidation tests were performed on all samples at a feed size of 80% passing 75 micrometre and a cyanide concentration of 1.0 g NaCN/L for a standard leach time of 72 hours. The majority of the samples were then combined into four different composites that represented medium grade oxide (MGO), high grade oxide (HGO), medium grade sulphide (MGS) and high grade sulphide (HGS) material. Metallurgical testing of the four composite samples included:
In addition, metallurgical testing of the two sulphide composite samples included scoping level bulk sulphide flotation at a feed size of 80% passing 75 micrometre, followed by further testing at other feed sizes between 80% passing 106 micrometre and 80% passing 53 micrometre.
Two master composite samples were prepared for gravity testing, combining the MGO and HGO variability samples into an Oxide Master Composite (Oxide MC) and the MGS and HGS variability samples into a Sulphide Master Composite (Sulphide MC), which were both subjected to:
A petrographic study of the four composite samples was completed by Economic Geology Consultants from Reno, NV, USA.
Orezone submitted a suite of nineteen whole PQ core samples representative of Bondi oxide, sulphide and mixed gold-bearing material to McClelland Laboratories in June 2012. McClelland submitted in July 2012 four composite whole PQ core samples of oxide (2) and sulphide (2) gold-bearing material to Hazen Research Inc. from Golden, CO, USA, for comminution test work that yielded the following results:
Conclusions of the McClelland Laboratories Metallurgical report were:
Recommendations of the McClelland Metallurgical report are:
The complete metallurgical report is filed on the Company-s website at .
Exploration and definition drilling
The recent drilling included a 14-hole (2,497 m) core program that targeted Inferred blocks within the existing resource, and a 93-hole (4,581 m) RC program that tested auger drill anomalies generated in 2012 in the area located to the SE of the current resource.
The core drilling program returned results that were broadly in line with the resource model and that will assist to upgrade part of the current Inferred blocks to the Indicated category.
The RC drill program intersected narrow gold mineralization along strike from zone 372 resulting in a possible extension of 275 m to the SE for a total strike length of at least 1,150 m. This zone is still open-ended to the SE, and hole BRC0833 intersected mineralization about 90 m into the footwall of zone 372 where most of the best auger anomalies were not tested due to difficult drilling conditions, including a shallow water table. Hole BRC0833 was stopped in mineralization and intersected 4 m at a grade of 12.6 g/t, including one meter at 43.3 g/t.
Breakdown of Drilling Meterage for this Release
Highlights of Core Drilling Results for this Release
Reverse Circulation ( „RC“ ) Drilling Results for this Release
The mineralized intervals are based on a lower cut-off grade of 0.5 g/t, a minimal width of 2 m and up to a maximum of one meter of dilution being included. Grades are weighted average of individual assays. Cut grades use a top-cut of 5 g/t as per historical procedures. The true width of the mineralization is approximately 70% of the drill length interval. The half-core samples were collected by Orezone employees using a diamond saw. The core samples were prepared by SGS Burkina Faso s.a.r.l. at the Bombore site facility and then split by Orezone to 1 kg using Rotary Sample Dividers (RSDs). A 1 kg aliquot was analyzed for leachable gold at BIGS Global Burkina s.a.r.l in Ouagadougou, by bottle-roll cyanidation using a LeachWell catalyst.
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. at the Bombore site facility and then split by Orezone to 1 kg using Rotary Sample Dividers (RSDs). A 1 kg aliquot was analyzed for leachable gold at BIGS Global Burkina s.a.r.l in Ouagadougou, by bottle-roll cyanidation using a LeachWell catalyst. The leach residues from all samples with a leach grade in excess of 0.2 g/t were prepared by BIGS Global Burkina s.a.r.l. and then split by Orezone to 50 g using Rotary Sample Dividers (RSDs). A 50 g aliquot was analyzed by fire assay at SGS Burkina Faso s.a.r.l.. Orezone employs a rigorous Quality Control Program (QCP) including a minimum of 10% standards, blanks and duplicates.
Qualified Persons
The drilling program was executed under the supervision of Pascal Marquis, SVP Exploration for Orezone; the report titled „Report on Metallurgical Testing – Bondi Drill Samples, MLI Job No. 3685“ was prepared under the supervision of J. McPartland, Metallurgist and VP Operations at McClelland Laboratories. All are Qualified Persons under National Instrument 43-101 and approved their respective technical information 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 which is situated 85 km east of the capital city, adjacent to an international highway. Mineral resources are constrained within optimized open pit shells that span 11 km, and include 4.13 Moz of measured and indicated (125 Mt @ 1.03 g/t) and 1.03 Moz of inferred resources (35 Mt @ 1.00 g/t) with an average depth of drilling to only 120 meters. The Company is completing a Feasibility Study („FS“) at Bombore for a phase one oxide-only CIL plant in 2H 2013 in order to become a mid-tier gold producer.
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; upgrading Bondi resources, improved metallurgical recoveries, completing a FS in 2H 2013, 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 or 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, 2012 and other continuous disclosure documents filed by Orezone since January 1, 2013 available at , for this detailed information, which is subject to the qualifications and notes set forth therein.
Contacts: Orezone Gold Corporation Ron Little, CEO (613) 241-3699 Toll Free: (888) 673-0663
Orezone Gold Corporation Pascal Marquis, SVP Exploration (613) 241-3699 Toll Free: (888) 673-0663
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