Orezone Gold Corporation (TSX:ORE) announces that it filed an NI 43-101 Technical Report today titled “Technical Report on the Updated Mineral Resource Estimate for the Bomboré Gold Project, Burkina Faso, West Africa” dated effective September 7, 2016 (the “Report”).
Orezone Gold Corporation (TSX:ORE) announces that it filed an NI 43-101 Technical Report today titled “Technical Report on the Updated Mineral Resource Estimate for the Bomboré Gold Project, Burkina Faso, West Africa” dated effective September 7, 2016 (the “Report”). The Report supports only the disclosure made by the Company in its news release of September 7, 2016 and does not include any of the ongoing resource modeling by the Company and its consultants.
The Report was prepared by Roscoe Postle Associates Inc. of Toronto (“RPA”), and co-authored by Kappes, Cassiday and Associates of Reno (“KCA”, Processing), and WSP Canada Inc. of Montreal (“WSP”).The Report is available for review on both SEDAR (www.sedar.com) and the Company’s website (www.orezone.com).
Since the September 7, 2016 release, RPA has continued to work with the Company to review, model and estimate the mineralization that was not included in the September 7, 2016 Resource Statement. The excluded mineralization occurs in part within the pit shells that constrain the resource and was treated as waste (with zero grade) in the September 7, 2016 Resource Statement. It is anticipated that additional resources will be added to the current estimate by including some of this material. The ongoing resource modeling by RPA is not complete and could not be included in the September 7, 2016 technical report. Once their work is complete, the Company plans to issue an updated resource statement, then continue with a reserve estimate, mine plan and feasibility study update. Optimization of the previous feasibility study is already underway.
The Company is planning to start an exploration and definition drill program on the Bomboré Gold Project in November that will focus on: 1) upgrading existing oxide resources and testing gaps between oxide pit shells; 2) simulated grade control drilling for modeling purposes in representative areas of the oxide resource model; and 3) expansion drilling on regional oxide targets as well as on higher grade, near-surface, sulphide material. A limited and focused drill program of up to 2,000 metres should be completed before year-end. A follow-up drill program for January 2017 will be initiated upon a review of these initial results and the completion and review of the ongoing resource modeling.
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