Orezone to Commence a 30,000 Metre Discovery Focused Drill Program at Its Flagship Bomboré GOLD MINE
OREZONE GOLD CORPORATION
450-505 Burrard Street
Vancouver, BC, V7X 1M3
T: 778-945-8977
OREZONE TO COMMENCE A 30,000 METRE DISCOVERY FOCUSED DRILL PROGRAM AT ITS
FLAGSHIP BOMBORÉ GOLD MINE
July 25, 2024 – Vancouver, BC - Orezone Gold Corporation (TSX: ORE, OTCQX: ORZCF) (the “Company”
or “Orezone”) is pleased to announce that it will be initiating a multi-year exploration campaign designed
to test the broader size and scale of the Bomboré mineralized system. To date, Bomboré has been reserve
defined over greater than a 14km strike length, with the average depth of drilling to approximately 200m
hosting the current stated gold resource of 4.5Moz Measured and Indicated, and 0.6Moz Inferred. Within
this Tier 1 mineralized footprint, the Company has designed a program for deeper drilling to:
• materially expand the reserve and resource base,
• delineate higher-grade centers of mineralization, and
• further increase the project’s mine life.
Patrick Downey, President & CEO stated, “With the oxide operation at Bomboré now well-established,
and the construction of the parallel Stage I hard rock expansion now underway, we are excited to launch
this renewed focus on exploration at Bomboré. While we are on track to deliver significant production
growth to an overall 225,000-250,000 ounces per year with the Stage I and Stage II hard rock expansions,
we view the potential for a further transformational shift at Bomboré with successful exploration.
With numerous existing high-grade intercepts below the current resource and reserve pit limits, across
the greater than 14km reserve defined strike length, we have well-established proof of concept for such
a transformational shift. This has clear implications in terms of extending the life of mine at Bomboré and
providing the basis for an expanded production profile.”
HARD ROCK EXPLORATION PROGRAM AND TARGETING OVERVIEW
The Company has designed an initial 30,000m first pass drill program, which will test multiple targets
across the greater than 14km long mineralized system. This initial program will be used to refine target
priority for subsequent exploration drilling in this multi-year campaign, as well as to advance the project’s
evolving structural framework. Phase 1 of this initial program will consist of 5,000m of drilling centered
on the Maga Zone , with drilling to commence in early August . Thereafter, drilling will progressively
advance towards the southern half of the mining lease.
First pass drilling along the Bomboré Shear Zone (“BSZ”) will be focused on testing the potential of the
mineralized system down to depths of up to 400m. While drilling will be wide spaced in nature, the
objective will be to increase pit depths longer-term, as well as to illustrate the broad continuity of multiple
higher grade plunging zones of mineralization which are well defined by shallower drilling and current
mining operations. These higher-grade plunging sub-zones may further support an underground mining
scenario later in the project’s mine life, once high-grade near-surface open pits are depleted.
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Initial testing of the P17 Trend will be focused on incremental step-outs down plunge of the currently
defined sub-zones, as well as testing for additional near -surface centers of mineralization along strike.
Successful exploration of the higher-grade P17 Trend hosts the potential to sequence higher-grade ounces
into the front end of the mine plan and to expand gold production.
Click here for supporting figures demonstrating the size and scale of the Bomboré mineralized system,
and highlighted intercepts below the currently defined resource and reserve pits.
OTHER EXPLORATION TARGETS
In addition to targeting hard rock mineralization at depth along the BSZ and P17 Trend, potential exists to
further delineate additional shallow near-pit, high-grade oxide ounces. This testing will be completed as
localized advanced grade control step-out drilling as the oxide mine sequence advances.
On a broader scale, the Company notes the potential for additional discoveries, as well as the further
delineation of known mineralization zones (KT and P13), outside of the current mining lease but within
the Bomboré exploration permits. This represents longer term greenfield exploration upside, outside of
the near-to-medium term exploration scope.
About Orezone Gold Corporation
Orezone Gold Corporation (TSX: ORE OTCQX: ORZCF) is a West African gold producer engaged in mining,
developing, and exploring its flagship Bomboré Gold Mine in Burkina Faso. The Bomboré mine achieved
commercial production on its oxide operations on December 1, 2022, and is now focused on its staged
hard rock expansion that is expected to materially increase annual and life-of-mine gold production from
the processing of hard rock mineral reserves. 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 entitled Bomboré Phase II Expansion, Definitive Feasibility Study is available on
SEDAR+ and the Company’s website.
Contact Information
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
For further information please contact Orezone at +1 (778) 945 8977 or visit the Company’s website at
www.orezone.com.
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The Toronto Stock Exchange neither approves nor disapproves the information contained in this news
release.
QUALIFIED PERSONS
Rob Henderson, P. Eng., VP Technical Services of Orezone, is the Qualified Persons under NI 43-101 and
has reviewed and approved the scientific and technical information contained in this news release.
Cautionary Note Regarding Forward-Looking Statements
This press release contains certain information that may constitute “forward -looking information” within the
meaning of applicable Canadian Securities laws and “forward-looking statements” within the meaning of applicable
U.S. securities laws (together, “f orward-looking statements”). Forward -looking statements 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 press release include, but are not limited to, statements with respect to
the size, timing and expectation of the exploration program (including the potential for deeper drilling to materially
expand the project’s mineral inventory, delineate higher -grade centers of mineralization and further expand the
project’s life of mine), the Phase II hard rock expansion and the future production profile, and statements with respect
to the higher-grade plunging sub -zones may further support an underground mining scenario later in the project’s
mine life and other exploration targets and discoveries.
All such forward-looking statements are based on certain assumptions and analyses made by management in light
of their experience and perception of historical trends, current conditions and expected future developments, as well
as other factors management and the qualified persons believe are appropriate in the circumstances.
All forward-looking statements 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 including, but not
limited to, delays caused by pandemics, terrorist or other violent attacks (including cyber security attacks), the failure
of parties to contracts to honour contractual commitments, unexpected changes in laws, rules or regulations, or their
enforcement by applicable authorities; the failure of parties to contracts to perform as agreed; social or labour unrest;
changes in commodity prices; unexpected failure or inadequacy of infrastructure, the possibility of unanticipated
costs and expenses, accidents and equipment breakdowns, political risk, unanticipated changes in key management
personnel and general economic, market or business conditions, the failure of exploration programs, including drilling
programs, to deliver anticipated results and the failure of ongoing and uncertainties relating to the availability and
costs of financing needed in the future, and other factors described in the Company's most recent annual information
form and management discussion and analysis filed on SEDAR +. Readers are cautioned not to place undue reliance
on forward-looking statements.
Although the forward-looking statements contained in this press release are based upon what management of the
Company believes are reasonable assumptions, the Company cannot assure investors that actual results will be
consistent with these forward-looking statements. These forward-looking statements are made as of the date of this
press release and are expressly qualified in their entirety by this cautionary statement. Subject to applicable securities
laws, the Company does not assume any obligation to upd ate or revise the forward -looking statements contained
herein to reflect events or circumstances occurring after the date of this press release.