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“The Gap is the place to be! Every drill hole successfully completed is rewarded by some growth in intuitive knowledge of this growing deposit.” – IWA

Orezone drills 50 m of 1.4 g/t Au at Bombore

Mr. Patrick Downey reports


Figure 1: P17 Area Plan Map

Orezone Gold Corp. has released additional results from its continuing drilling program to test the expansion potential of the P17 trend at its Bombore gold project, located in Burkina Faso.

The focus of this latest drilling was to test the continuity of high-grade mineralization into the Gap zone between P17S and P17. This area had not been previously subject to any drilling and represented a 600-metre gap between the P17S NE extension and P17 to the north. With the success of these new results, the strike extent of P17S is now over 600 m outside of the existing reserve pit and remains open at depth and to the north toward P17.

Drilling highlights:

• 50 metres of 1.40 grams per tonne gold from 246 m, including three m at 8.89 g/t Au in hole BBD1074;

• 21 m of 1.56 g/t Au from 88 m and a further 16.45 m of 2.35 g/t Au from 124 m in hole BBD1068;

• Nine m of 2.06 g/t Au from 13 m in hole BBD1070.

Patrick Downey, president, and chief executive officer stated: “The P17 trend of mineralization is shaping up to be an outstanding exploration target for Bombore. Intersecting such a broad zone of strong gold grade mineralization in the Gap zone supports the company’s belief that the P17 area has the potential to host a large-scale higher-grade gold resource amenable to open-pit mining. It is noteworthy that the drilling is intercepting very broad continuous zones of mineralization that are hosted in a prospective folded granodiorite intrusive that is much thicker than the folded granodiorite within the P17S reserve pit. We have intercepted several limbs of these plunging structures, which now extend into the Gap zone and indicates the existence of a large promising target between P17S and P17, a mineralized trend with a potential strike extent of 1.7 km and open in multiple directions. Further drilling will infill this zone to confirm the continuity of the P17S extension to the shallow P17 zone to the north. We plan to recommence drilling in Q4 after the 2021 rainy season has ended.”

Recent drilling in 2021 northeast of reserves and resources at P17S identified several wide, multigram intersections near surface and outside current reserves or resources such as BBD1066, which intersected 32.00 m of 3.98 g/t gold (see Orezone’s June 8, 2021, news release). This most recent drilling has also successfully intersected broad zones of mineralization at depth, extending the down-plunge strike of the P17S NE deposit into the untested Gap zone by 150 m. The P17S NE deposit remains open at depth and to the north.

Table 1: P17S Area 2021 Selected Drill Results

* True widths for P17S area drilling are approximately 90% of drilled lengths.
** Results from June 8, 2021, news release restated following final leach residue assays.

About Orezone Gold Corp.

Orezone Gold is a Canadian development company which owns a 90-per-cent interest in Bombore, one of the largest undeveloped gold deposits in Burkina Faso.

The 2019 feasibility study highlights Bombore as an attractive shovel-ready gold project with forecasted annual gold production of 118,000 ounces over a 13-plus-year mine life at an all-in sustaining cost of $730 (U.S.) per ounce with an after-tax payback period of 2.5 years at an assumed gold price of $1,300 (U.S.) per ounce. Bombore is underpinned by a mineral resource base in excess of five million gold ounces and possesses significant expansion potential. Orezone is fully financed to bring Bombore into production with the first gold pour scheduled for Q3 2022.

Qualified person

Dr. Pascal Marquis, Geo, senior vice-president, exploration, is the qualified person who has approved the scientific and technical information in this news release.

Quality assurance/quality control

The mineralized intervals are based on a lower cut-off grade of 0.45 g/t, a minimal width of 1.5 m and up to a maximum of 2.0 m of dilution being included. The true width of the mineralization is approximately 90 per cent of the drill length. The half-core drilling samples were cut using a diamond saw by Orezone employees. The samples were prepared by SGS Burkina Faso SARL at the Bombore facility and then split by Orezone to one kilogram using rotary sample dividers (RSDs). A one-kilogram aliquot was analyzed for leachable gold at BIGS Global Burkina SARL in Ouagadougou, by bottle-roll cyanidation using a LeachWell catalyst. The leach residues from all samples with a leach grade greater than or equal to 0.4 g/t 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 SGS.

Orezone employs a rigorous quality control program including a minimum of 10 per cent standards, blanks, and duplicates. The composite width and grade include the final leach residue assay results for most of the drill intercepts reported, with the details available in the tables posted on the company’s website.

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IWA is a shareholder of Orezone Gold Corporation.

Statements which are not purely historical are forward-looking statements, including any statements regarding beliefs, plans, expectations, or intentions regarding the future. It is important to note that actual outcomes and the Company’s actual results could differ materially from those in such forward-looking statements. Risks and uncertainties include, but are not limited to, economic, competitive, governmental, environmental, and technological factors that may affect the Company’s operations, markets, products, and prices. Readers should refer to the risk disclosures outlined in the Company’s Management Discussion and Analysis of its audited financial statements filed with the British Columbia Securities Commission.


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