Orezone Intersects 1.72 G/T GOLD over 40.40M at P8P9 & 5.59 G/T GOLD over 15.00M at Maga
OREZONE GOLD CORPORATION
450-505 Burrard Street
Vancouver, BC, V7X 1M3
T: 778-945-8977
OREZONE INTERSECTS 1.72 G/T GOLD OVER 40.40M AT P8P9 & 5.59 G/T GOLD OVER 15.00M
AT MAGA
March 6, 2023 – Vancouver, BC - Orezone Gold Corporation (TSX: ORE, OTCQX: ORZCF) (the “Company”
or “Orezone”) is pleased to provide further results from its Phase III resource definition drill program from
the P8P9 and Maga zones at its Bomboré Gold Mine in Burkina Faso.
The focus of the Phase III drill program has been the expansion of the P17 zone and conversion of Inferred
Resources into Measured & Indicated ahead of the upcoming sulphide expansion study. Today’s release
marks the final set of Phase III diamond drill results, which contribute to the +100,000m 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 150m along strike, and remains open at depth and t owards 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 III 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 ~250m
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 III drill program are the RC oxide drill results, which are expected
to be released in the coming weeks.
P8P9 Drilling Highlights:
• 1.72 g/t Au over 40.40m from 99.00m, including 4.31 g/t Au over 8.25m from 126.75m in hole
BBD1294
• 1.49 g/t Au over 53.70m from 39.3 0m in hole BBD13 05, including 13.00 m @2.01 g/t from
57.00m
• 1.05 g/t Au over 30.00m from 182.00m and a further 1.85 g/t Au over 24.00m from 222.00m in
hole BBD1298, including 2.88 g/t Au over 11.00m from 225.00m
• 1.06 g/t Au over 44.00m from 260.00m in hole BBD1312, including 2.75 g/t Au over 8.00m from
271.00m
• 1.16 g/t Au over 21.00m from 83.00m in hole BBD1288
- 2 -
• 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
39.00m
• 1.37 g/t Au over 14.40m from 166.00m in hole BBD1293
Maga Drilling Highlights:
• 5.59 g/t Au over 15.00m from 221.00m in hole BBD1287, including 62.21 g/t Au over 4.50m from
225.00m
• 3.14 g/t Au over 18.00m from 197.00m in hole BBD1285
• 9.78 g/t Au over 2.00m from 208.00m in hole BBD1283
• 10.83 g/t Au over 2.00m from 303.00m 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 20m to 50m. 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 100,000m of new drilling , is now well -advanced. The
sulphide expansion study will provide the platform to significantly increase annual throughput and
production at the Bomboré operation and is expected to be released in Q3-2023.”
- 3 -
Table 1: P8P9 Highlight Drill Results
Hole
#
From
(m)
To
(m)
Length
(m)*
Grade
(g/t gold)
BBD1264 102.50 107.00 4.50 3.47
and 147.35 148.20 0.85 66.36
BBD1265 122.80 125.50 2.70 4.21
BBD1267 86.70 106.00 19.30 0.60
and 115.00 131.00 16.00 0.88
BBD1268 65.00 77.00 12.00 1.33
incl. 71.00 72.00 1.00 9.64
and 209.00 212.00 3.00 5.21
BBD1279 113.00 127.00 14.00 1.37
incl. 121.00 123.15 2.15 4.46
BBD1288 83.00 104.00 21.00 1.16
and 109.60 141.00 31.40 0.80
incl. 138.00 140.00 2.00 3.10
and 223.40 233.00 9.60 1.28
BBD1289 170.50 180.80 10.30 2.08
and 191.00 193.00 2.00 6.17
BBD1290 7.80 26.00 18.20 0.86
and 109.20 126.75 17.55 1.59
incl. 125.00 126.75 1.75 8.46
BBD1293 63.10 84.00 20.90 0.90
incl. 72.00 73.00 1.00 6.18
and 166.00 180.40 14.40 1.37
BBD1294 17.40 51.00 33.60 0.98
incl. 20.20 40.00 19.80 1.31
and 99.00 139.40 40.40 1.72
incl. 126.75 136.00 8.25 4.31
and 144.60 145.60 1.00 12.81
and 157.00 159.00 2.00 14.23
BBD1295 257.00 274.00 17.00 0.64
BBD1298 182.00 212.00 30.00 1.05
incl. 188.00 189.00 1.00 9.38
and 222.00 246.00 24.00 1.85
incl. 225.00 236.00 11.00 2.88
and 257.00 280.00 23.00 0.59
BBD1300 0.50 8.80 8.30 1.77
incl. 4.10 5.40 1.30 6.66
BBD1301 85.00 101.00 16.00 0.79
BBD1304 114.00 121.00 7.00 1.54
BBD1305 39.30 93.00 53.70 1.49
incl. 57.00 70.00 13.00 2.01
BBD1306 16.00 26.00 10.00 1.08
and 102.00 114.00 12.00 1.02
incl. 106.00 108.00 2.00 3.49
- 4 -
* True widths for P8P9 area drilling are approximately 70 to 85% of drilled lengths.
Table 2: Maga Highlight Drill Results
Hole
#
From
(m)
To
(m)
Length
(m)*
Grade
(g/t gold)
BBD1272 27.00 31.50 4.50 4.10
BBD1283 208.00 210.00 2.00 9.78
and 303.00 305.00 2.00 10.83
BBD1285 197.00 215.00 18.00 3.14
BBD1286 192.00 209.00 17.00 0.72
incl. 202.00 204.00 2.00 1.85
BBD1287 212.00 216.00 4.00 3.01
and 221.00 236.00 15.00 5.59
incl. 225.00 226.00 1.00 62.21
* True widths for Maga area drilling are approximately 85% of drilled lengths.
Hole
#
From
(m)
To
(m)
Length
(m)*
Grade
(g/t gold)
BBD1309 31.80 43.50 11.70 1.98
incl. 39.00 43.50 4.50 4.59
BBD1312 260.00 304.00 44.00 1.06
incl. 271.00 279.00 8.00 2.75
and 345.65 349.85 4.20 3.01
- 5 -
Figure 1: Bomboré Plan Map Overview
- 6 -
Figure 2: P8P9 Cross Section 1350N
Figure 3: P8P9 Cross Section 1237.5N
- 7 -
Figure 4: Maga Cross Section 3650N
- 8 -
About Orezone Gold Corporation
Orezone Gold Corporation (TSX: ORE OTCQX: ORZCF) is a Canadian mining company operati ng the open
pit Bomboré Gold Mine in Burkina Faso.
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. T he Company believes that Bomboré has a significant underlying
sulphide resource to support a substantially larger P hase II expansion. The Company has 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 expansio n. It is expected that the pending study will be
completed in Q3-2023 to be followed by a production decision.
Orezone is led by an experienced team focused on social responsibility and sustainability with a proven
track record in project construction and operations, financings, capital markets and M&A.
The technical report for the 2019 Feasibility Study on Bomboré entitled NI 43 -101 Technical Report
(Amended) Feasibility Study of the Bomboré Gold Project is available on SEDAR under the Company’s
profile at www.Sedar.com.
Patrick Downey
President and Chief Executive Officer
Vanessa Pickering
Manager, Investor Relations
Tel: 1 778 945 8977 / Toll Free: 1 888 673 0663
[email protected] / www.orezone.com
Qualified Person
Dr. Pascal Marquis, Geo., Senior VP Exploration , is the Qualified Person who has approved the scientific
and technical information in this news release.
QA/QC
The mineralized intervals are based on a lower cut-off grade of 0.45 g/t Au, a minimal width of 1.5m and
up to a maximum of 3.0m of dilution being included. The true width of the mineralization is approximately
70-85% of the drill length at P8P9 and 85% of the drill length at Maga. The half-core drilling samples were
cut using a diamond saw by Orezone employees. The samples were prepared by SGS Burkina Faso s.a.r.l.
(“SGS”) at their Ouagadougou 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. (“BIGS Global”) in
Ouagadougou, by bottle-roll cyanidation using a LeachWellTM catalyst. The leach residues from all samples
with a leach grade greater than or equal to 0.4 g/t Au were prepared by BIGS Global and then split by
Orezone to 50 g using RSDs. A 50-g aliquot was analyzed by fire assay at BIGS Global.
Orezone employs a rigorous Quality Control Program including a minimum of 10% standards, blanks and
duplicates. The composite width and grade include the final leach residue assay results fo r most of the
drill intercepts reported, with the details available in the tables posted on our web site.