Orezone's Bombore Gold Project Reaches World Class Size
- Measured and Indicated Mineral Resources up 160% and grade up 27%
OTTAWA, ONTARIO--(Marketwire - Aug. 27, 2012) -Orezone Gold Corporation (TSX:ORE) is pleased to announce that gold mineral resources at its Bomboré Gold Deposit, located in Burkina Faso, West Africa, have substantially increased to:
- 125 million tonnes of measured and indicated mineral resources at 1.03 g/t for 4.13 million oz, and 32.1 million tonnes of inferred mineral resources at a grade of 1.00 g/t for 1.03 million oz.
Bomboré is now world class(1) and is the largest undeveloped gold deposit in Burkina Faso and possibly in all of West Africa.
• The mineral resource update includes an additional 214,146 m of drilling for a total of 338,033 m, including 222,184 m of RC drilling (3,510 holes) and 115,849 m of core drilling (764 holes).
• All resources are contained within optimized pit shells with a maximum depth of 200 m, using current Burkina Faso operating cost and Bomboré recovery parameters and $1400/oz gold;
• Measured and indicated mineral resources have increased by 2.54 Moz to 4.13 Moz (+160%) with grades increasing by 27% to 1.03 g/t;
• The measured mineral resource is 1.87 Moz, with none in the previous model;
• Oxidized measured and indicated mineral resources have increased by 0.71 Moz to 1.76 Moz (+70%) with grades increasing by 32% to 0.94 g/t;
• Upside potential remains to further upgrade and expand the oxidized resources;
• The gold mineralization remains open at depth in several major areas with significant potential to further increase the mineral resources amenable to open pit extraction in the fresh rock; and
• The discovery cost of the Bomboré gold resource to date is approximately $10/oz.
(1) Singer, D.A., 1995, World-class base and precious metal deposits-a quantitative analysis: Economic Geology, v. 90, no.1, p. 88-104
Orezone Gold press continues at the link below.
Source: Orezone Gold via Stockhouse
Disclosure: Orezone Gold is a Vulture Bargain Candidate of Interest (VBCI). Members of the GGR team are actively accumulating and may hold long positions in ORE.T.
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