VANCOUVER, British Columbia, Aug. 11, 2026 (GLOBE NEWSWIRE) — Orezone Gold Corporation (TSX: ORE | ASX: ORE | OTCQX: ORZCF) (the “Company” or “Orezone”) is pleased to provide additional drill results from its Bomboré Gold Mine. The latest results are from multiple zones across the 14-kilometre-long reserve-defined Bomboré gold system.
Selected Drill Highlights1:
2.97g/t over 34.0m (BBD1393)
1.74g/t over 26.0m (BBD1437)
Incl. 4.50g/t over 7.0m
Incl. 3.33g/t over 6.0m
4.00g/t over 11.3m (BBD1409)
8.34g/t over 6.0m (BBD1418)
1.26g/t over 34.0m (BBD1430)
1.39g/t over 19.0m (BBD1408)
Incl. 5.46g/t over 2.0m
Incl. 4.97g/t over 3.0m
4.28g/t over 11.0m (BBD1393)
223.25g/t over 1.0m (BBD1437)
9.14g/t over 3.30m (BBD1411)
4.88g/t over 4.60m (BBD1414)
1.64g/t over 15.0m (BBD1394)
1.81g/t over 13.0m (BBD1392)
1.28g/t over 16.6m (BBD1402)
1.70g/t over 12.0m (BBD1430)
Patrick Downey, President and CEO, commented “These latest exploration drill results continue to demonstrate the growth potential at Bomboré, confirming the continuity of gold mineralization beyond the current Mineral Resources and Mineral Reserves.
Step-out drilling continues to highlight significant exploration upside along strike, demonstrated by follow-up drilling at P16, that confirmed the zone’s 600 metre strike extension and its overall sub-parallel orientation to the P17 high-grade trend. As with P17, the emerging P16 trend hosts notably higher-grade zones within a broader envelope of lower grade mineralization. Ongoing structural studies and future exploration drilling will focus on refining the controls and continuity of these higher-grade zones, which are potentially amenable to underground mining and could significantly enhance the production profile.
In addition to our successful expansion drilling programs, the 2026 resource definition program focused on converting Inferred Resource to the Indicated category, supporting a Mineral Resource and Mineral Reserve update which is expected to be released in the first quarter of 2027. The updated estimate will incorporate the results of approximately 100,000m of additional drilling, in addition to an adjusted cut-off grade reflective of current operating costs and higher gold prices. Given Orezone’s ongoing exploration success in extending mineralization to depth and along strike, we expect that the new estimate will yield a material increase to both Mineral Resources and Mineral Reserves, further extending the overall life-of-mine at Bomboré”.
Exploration Drilling Results
Follow-up drilling at P16 was successful in confirming the P16 strike extension, which has now been traced over 600 metres to the northeast of the established P16 Mineral Resource. This newly emerging trend is subparallel to the established P17 Trend, located approximately 1 kilometre to the southeast. As with the P17 Trend, P16 hosts notably higher-grade zones, with mineralization plunging at 25 degrees to the north-northeast, parallel to the axes of tight folds in quartz veins. Follow-up drilling at P16 will look to both delineate mineralization along the broader trend, as well as to further refine the continuity of the higher-grade zones with increasingly tighter drill spacing.
The P16 strike extension is a significant discovery that has broader implications in terms of future resource growth within the Bomboré gold system. P16 strike extension was not previously recognized as a prospective target because of the approximately eight metres of Tertiary cover that masks the underlying mineralization. This recent finding opens up multiple areas under cover that were not previously advanced due to the absence of surficial geochemical anomalies.
P16 selected intercepts – 600 metres northeast of established P16 resource:
8.34g/t over 6.0m (BBD1418)
4.88g/t over 4.6m (BBD1414)
27.31g/t over 1.0m (BBD1405)
2.83g/t over 6.0m (BBD1405)
4.37g/t over 2.4m (BBD1422)
12.50g/t over 1.0m (BBC7353)
Previously reported – selected high-grade intercepts from P16 area:
10.63g/t over 14.0m (BBD0448)
16.50g/t over 5.0m (BBD0448)
9.03g/t over 12.0m (BBC3241)
6.69g/t over 15.5m (BBD0443)
5.91g/t over 15.0m (BBD0477)
7.82g/t over 9.0m (BBD0213)
58.91g/t over 3.0m (BBD0768)
25.87g/t over 1.0m (BBD0813)
Resource Definition Drill Results
For 2026, Orezone has budgeted approximately 65,000m of drilling at Bomboré, with 45,000 metres dedicated to resource definition drilling. The definition program follows more recent 100 metre-spaced step-out drilling, which was successful in extending gold mineralization below several of the current life-of-mine resource pits. Targeted infill drilling is expected to expand the existing resource base, with future pit optimizations potentially extending pit boundaries further down depth and along strike.
Further to the planned 2026 step-out and resource definition drill programs, mineralization at Bomboré remains open at depth and along strike. To date, the broader mineralized system has been traced across a continuous 14-kilometre strike length, with Mineral Reserves to an average depth of less than 40 metres and Mineral Resources to an average depth of approximately 70 metres. Future definition drilling at Bomboré will be focused on delineating higher-grade centers of mineralization, with the potential to be sequenced into the near-term mine plan, supporting further growth in production and operating cash flow.
North Zone selected intercepts:
2.97g/t over 34.0m (BBD1393)
1.64g/t over 15.0m (BBD1394)
Incl. 4.50g/t over 7.0m
Incl. 2.31g/t over 4.0m
4.28g/t over 11.0m (BBD1393)
1.06g/t over 31.2m (BBD1394)
1.81g/t over 13.0m (BBD1392)
Incl. 2.62g/t over 4.0m
1.05g/t over 12.4m (BBD1395)
3.27g/t over 5.0m (BBC7295)
P17 selected intercepts:
1.26g/t over 34.0m (BBD1430)
1.39g/t over 19.0m (BBD1408)
Incl. 5.46g/t over 2.0m
Incl. 4.97g/t over 3.0m
4.00g/t over 11.3m (BBD1409)
9.14g/t over 3.3m (BBD1411)
1.70g/t over 12.0m (BBD1430)
4.92g/t over 3.0m (BBD1429)
Siga selected intercepts:
1.74g/t over 26.0m (BBD1437)
1.08g/t over 27.2m (BBD1438)
Incl. 3.33g/t over 6.0m
Incl. 1.60g/t over 13.0m
223.25g/t over 1.0m (BBD1437)
2.96g/t over 7.0m (BBD1440)
1.09g/t over 13.4m (BBD1439)
P8P9 selected intercepts:
1.28g/t over 16.6m (BBD1402)
1.09g/t over 11.30m (BBD1401)
Incl. 3.01g/t over 3.0m
2.07g/t over 7.0m (BBC7341)
Figure 1 – Bomboré Plan Map Highlighting Selected Intercepts
Figure 2 – North Zone Long Section
Figure 3 – North Zone Cross Section
Figure 4 – Siga South Cross Section
Figure 5 – P16 Long Section
Table 1 – Drill Results Table
Hole
Zone
Easting
(m)
Northing
(m)
Elv.
(m)
Dip
(deg.)
Azi.
(deg.)
EOH
(m)
From
(m)
To
(m)
Length*
(m)
Grade
(g/t Au)
Type
BBC7271
CFU
729342
1352598
270
-50
312
70
9.00
12.00
3.00
0.87
OX
And
28.00
33.00
5.00
0.22
OX
BBC7272
CFU
729549
1352745
274
-50
312
111
0.00
5.00
5.00
0.43
OX
And
9.00
12.00
3.00
0.52
OX
And
19.00
25.00
6.00
0.39
OX
And
57.00
61.00
4.00
0.79
HR
And
78.00
84.00
6.00
0.80
HR
And
92.00
95.00
3.00
0.52
HR
And
107.00
111.00
4.00
0.33
HR
BBC7273
NORTH
728028
1352940
268
-50
312
132
15.00
20.00
5.00
1.40
OX
And
54.00
57.00
3.00
0.51
OX
And
68.00
77.00
9.00
0.28
OX
And
87.00
91.00
4.00
0.30
HR
And
117.00
120.00
3.00
0.97
HR
BBC7274
CFU
729545
1352666
272
-50
310
102
43.00
48.00
5.00
0.20
HR
And
90.00
93.00
3.00
0.46
HR
BBC7275
SIGA S
728233
1344889
267
-50
253
80
9.00
13.00
4.00
0.35
OX
And
22.00
26.00
4.00
0.24
OX
BBC7276
SIGA S
728250
1345004
269
-49
254
72
17.00
22.00
5.00
0.99
OX
And
43.00
47.00
4.00
0.26
HR
BBC7277
SIGA S
728218
1345098
270
-50
254
60
3.00
6.00
3.00
0.32
OX
BBC7278
SIGA S
728265
1345113
271
-49
254
70
11.00
14.00
3.00
0.35
OX
And
21.00
25.00
4.00
0.27
OX
BBC7279
SIGA S
728313
1344811
266
-49
252
80
NSR
BBC7280
SIGA S
728887
1345126
264
-49
255
120
65.00
73.00
8.00
0.31
HR
BBC7281
NORTH
729817
1354838
279
-50
312
50
26.00
31.00
5.00
0.26
OX
BBC7282
NORTH
729798
1354793
280
-50
312
80
NSR
NSR
BBC7283
NORTH
729901
1354901
277
-50
314
130
39.00
44.00
5.00
1.24
OX
BBC7284
NORTH
730108
1354780
277
-50
312
125
89.00
94.00
5.00
0.36
HR
And
106.00
110.00
4.00
0.29
HR
BBC7285
NORTH
730042
1354776
277
-50
311
60
NSR
BBC7286
NORTH
730062
1354756
277
-48
315
100
18.00
26.00
8.00
0.35
OX
And
36.00
39.00
3.00
0.35
OX
BBC7287
NORTH
730394
1354323
278
-50
313
100
15.00
19.00
4.00
0.41
OX
And
26.00
29.00
3.00
0.83
OX
BBC7288
NORTH
730431
1354346
276
-50
312
100
18.00
39.00
21.00
0.47
OX
Incl.
34.00
36.00
2.00
1.18
OX
Incl.
31.00
38.00
7.00
0.64
OX
And
62.00
66.00
4.00
0.45
HR
BBC7289
NORTH
730173
1354118
282
-48
315
120
NSR
BBC7290
NORTH
730204
1354261
280
-49
315
60
NSR
BBC7291
NORTH
730306
1354233
281
-48
314
120
NSR
BBC7292
NORTH
729809
1354814
279
-51
318
75
NSR
BBC7293
NORTH
730265
1354570
277
-50
312
80
3.00
10.00
7.00
0.34
OX
BBC7294
NORTH
730356
1354257
280
-50
317
120
11.00
14.00
3.00
3.12
OX
Incl.
12.00
13.00
1.00
8.15
OX
BBC7295
NORTH
730356
1354290
280
-50
313
80
48.00
59.00
11.00
1.64
HR
Incl.
50.00
55.00
5.00
3.27
HR
And
63.00
70.00
7.00
0.90
HR
BBC7296
NORTH
730361
1354319
280
-51
317
80
38.00
43.00
5.00
0.19
OX
And
60.00
70.00
10.00
0.85
HR
BBC7297
NORTH
730356
1354358
279
-51
315
65
0.00
7.00
7.00
0.25
OX
BBC7298
NORTH
730236
1354533
277
-50
314
80
NSR
BBC7299
NORTH
730299
1354577
279
-52
314
100
33.00
42.00
9.00
0.86
OX
BBC7333
NORTH
729731
1354447
287
-50
312
100
49.00
55.00
6.00
0.40
HR
And
80.00
85.00
5.00
0.43
HR
BBC7335
NORTH
730609
1354260
276
-51
313
130
64.00
67.00
3.00
0.84
HR
BBC7339
P8P9
727790
1352625
267
-49
313
99
28.00
35.00
7.00
0.99
OX
And
80.00
86.00
6.00
1.23
HR
Incl.
80.00
81.00
1.00
4.91
HR
BBC7340
P8P9
727834
1352585
267
-50
312
140
96.00
100.00
4.00
0.42
HR
BBC7341
P8P9
727945
1352472
267
-50
315
80
17.00
45.00
28.00
0.89
OX
Incl.
37.00
44.00
7.00
2.07
OX
BBC7342
P8P9
728025
1352559
266
-50
312
80
36.00
43.00
7.00
0.33
HR
BBC7343
P8P9
727831
1352658
267
-50
312
54
13.00
16.00
3.00
0.59
OX
BBC7344
P8P9
727878
1352722
267
-50
312
120
45.00
50.00
5.00
0.31
OX
BBC7345
P8P9
727947
1352757
267
-50
312
150
118.00
123.00
5.00
0.56
HR
BBC7346
P8P9
727902
1352799
267
-49
313
80
39.00
42.00
3.00
0.40
OX
BBC7347
NORTH
728295
1352591
266
-48
312
100
48.00
53.00
5.00
0.42
HR
BBC7348
P16
729673
1344348
260
-50
270
94
NSR
BBC7349
P16
729750
1344350
260
-50
270
95
NSR
BBC7350
P17 S
730181
1343198
260
-50
270
72
NSR
BBC7351
P16
729255
1343900
261
-50
270
104
10.00
14.00
4.00
0.70
OX
BBC7352
P16
729383
1343948
262
-50
270
100
NSR
BBC7353
P16
729396
1343899
262
-50
270
67
3.00
23.00
20.00
1.06
OX
Incl.
9.00
10.00
1.00
12.50
OX
And
39.00
44.00
5.00
0.57
OX
And
50.00
54.00
4.00
0.46
HR
BBD1374
SIGA E
728691
1347159
274
-48
252
252
111.00
114.00
3.00
1.46
HR
And
197.00
201.00
4.00
1.07
HR
And
205.00
210.00
5.00
0.84
HR
BBD1375
P8P9
728540
1351955
269
-50
310
309
2.00
17.00
15.00
0.67
OX
Incl.
8.00
10.00
2.00
1.75
OX
And
22.00
28.50
6.50
0.71
OX
And
151.10
179.00
27.90
0.83
HR
Incl.
170.00
178.00
8.00
1.30
HR
BBD1376
P8P9
727428
1350533
302
-51
312
252
46.00
49.00
3.00
2.55
HR
BBD1377
SIGA E
728408
1346499
266
-50
250
375
153.25
156.40
3.15
0.55
HR
And
193.30
206.15
12.85
0.69
HR
And
243.00
248.00
5.00
0.64
HR
And
256.00
260.10
4.10
0.31
HR
And
279.00
288.00
9.00
0.69
HR
And
293.00
298.00
5.00
0.43
HR
BBD1378
SIGA S
728791
1344665
261
-58
248
255
149.40
153.10
3.70
0.39
HR
BBD1379
SIGA S
728632
1345724
270
-50
249
354
98.10
101.45
3.35
0.79
HR
And
195.00
202.00
7.00
0.46
HR
And
253.00
256.00
3.00
0.70
HR
And
293.60
299.00
5.40
0.75
HR
And
305.20
322.00
16.80
0.75
HR
Incl.
306.00
315.00
9.00
0.99
HR
BBD1380
P8P9
728536
1352025
268
-50
311
252
132.10
135.90
3.80
1.40
HR
BBD1382
P8P9
728542
1351824
270
-52
312
372
267.00
272.00
5.00
0.88
HR
And
278.00
286.00
8.00
0.47
HR
And
316.01
322.00
5.90
0.64
HR
And
332.00
339.00
7.00
0.65
HR
BBD1383
SIGA S
728667
1345686
268
-51
252
372
136.15
143.00
6.85
0.58
HR
And
265.00
270.00
5.00
0.64
HR
And
274.00
280.00
6.00
0.98
HR
And
293.00
298.00
5.00
0.75
HR
And
317.00
320.00
3.00
0.63
HR
And
324.00
333.00
9.00
1.52
HR
Incl.
235.00
241.00
6.00
2.01
HR
And
339.00
351.10
12.10
1.01
HR
Incl.
345.00
350.10
5.10
1.76
HR
BBD1384
SIGA S
728632
1345140
267
-46
250
228
12.00
16.00
4.00
0.53
OX
And
182.00
191.80
9.80
0.87
HR
BBD1385
SIGA S
728715
1345068
270
-49
253
285
9.30
13.10
3.80
1.21
OX
And
17.00
25.00
8.00
0.61
OX
And
83.00
86.00
3.00
0.52
HR
And
136.00
141.15
5.15
0.59
HR
And
154.00
163.00
9.00
1.66
HR
Incl.
154.00
158.00
4.00
2.75
HR
And
208.00
214.30
6.30
0.53
HR
And
217.55
223.00
5.45
1.45
HR
Incl.
222.15
223.00
0.85
6.66
HR
And
229.85
235.00
5.15
0.70
HR
BBD1386
SIGA S
728805
1344776
262
-50
250
267
19.80
24.00
4.20
0.78
OX
And
208.00
213.00
5.00
0.60
HR
BBD1387
SIGA S
728727
1344965
264
-50
251
241
6.00
12.50
6.50
0.44
OX
And
121.00
134.00
13.00
0.76
HR
And
171.30
176.00
4.70
0.64
HR
And
194.00
198.00
4.00
0.39
HR
BBD1388
SIGA E
728172
1346993
274
-50
253
267
116.00
126.00
10.00
0.55
HR
And
141.00
147.00
6.00
0.75
HR
And
160.00
169.00
9.00
0.42
HR
And
197.00
203.10
6.10
0.47
HR
BBD1390
SIGA E
727891
1347537
275
-50
252
192
124.00
129.00
5.00
0.46
HR
And
141.00
144.00
3.00
0.38
HR
BBD1391
SIGA S
728928
1344823
262
-51
248
382
336.00
339.00
3.00
0.65
HR
BBD1392
NORTH
728965
1353592
278
-54
311
273
190.00
198.00
8.00
1.37
HR
Incl.
193.00
195.00
2.00
2.83
HR
And
205.00
218.00
13.00
1.81
HR
Incl.
205.00
210.00
5.00
2.57
HR
BBD1393
NORTH
728897
1353620
279
-50
313
252
2.10
6.70
4.60
0.73
OX
And
29.00
41.00
12.00
0.69
OX
And
149.00
183.00
34.00
2.97
HR
Incl.
152.00
159.00
7.00
4.50
HR
And
162.00
173.00
11.00
4.28
HR
And
219.50
225.20
5.70
2.08
HR
Incl.
219.50
222.00
2.50
3.15
HR
BBD1394
NORTH
729446
1354272
286
-55
311
327
43.00
50.00
7.00
0.71
HR
And
229.00
260.15
31.15
1.06
HR
Incl.
233.00
237.00
4.00
2.62
HR
And
270.00
285.00
15.00
1.64
HR
Incl.
277.00
281.00
4.00
2.31
HR
BBD1395
NORTH
729442
1354206
285
-57
311
399
81.00
87.00
6.00
0.78
HR
And
91.00
97.00
6.00
0.53
HR
And
131.00
137.00
6.00
0.50
HR
And
304.00
353.00
49.00
0.87
HR
Incl.
304.00
316.40
12.40
1.05
HR
And
359.00
364.90
5.90
0.83
HR
BBD1396
NORTH
729094
1354083
285
-54
312
297
117.00
141.00
24.00
0.64
HR
Incl.
140.00
141.00
1.00
3.39
HR
And
198.00
201.00
3.00
0.46
HR
BBD1397
NORTH
729051
1353955
284
-56
308
366
30.00
34.00
4.00
0.71
HR
And
73.00
76.50
3.50
0.61
HR
And
169.00
174.00
5.00
0.78
HR
And
198.00
204.00
6.00
0.71
HR
And
246.60
250.00
3.40
1.02
HR
And
305.00
308.00
3.00
0.64
HR
And
322.00
330.00
8.00
0.46
HR
And
343.10
348.00
4.90
0.51
HR
BBD1398
NORTH
728895
1353785
280
-50
312
189
NSR
BBD1399
NORTH
728937
1353819
281
-50
309
396
91.00
95.00
4.00
0.30
HR
And
295.00
298.00
3.00
0.46
HR
And
345.00
353.00
8.00
0.75
HR
BBD1400
NORTH
729158
1354026
285
-56
313
405
5.00
10.00
5.00
0.47
OX
And
251.00
262.00
11.00
0.73
HR
And
312.00
318.00
6.00
1.52
HR
Incl.
312.00
315.00
3.00
1.90
HR
And
325.00
333.00
8.00
1.47
HR
Incl.
330.00
333.00
3.00
3.34
HR
BBD1401
P8P9
727744
1350791
287
-50
313
324
8.00
14.80
6.80
0.69
OX
And
70.00
79.00
9.00
0.88
HR
And
90.00
105.00
15.00
0.89
HR
Incl.
96.00
102.00
6.00
1.10
HR
And
142.00
165.00
23.00
0.49
HR
And
174.00
178.20
4.20
0.51
HR
And
187.00
193.00
6.00
0.53
HR
And
206.00
218.00
12.00
0.57
HR
And
249.00
282.00
33.00
0.66
HR
Incl.
252.70
264.00
11.30
1.09
HR
And
285.80
291.00
5.20
0.60
HR
BBD1402
P8P9
727672
1350717
292
-50
312
321
16.00
21.10
5.10
0.37
HR
And
80.00
83.00
3.00
0.68
HR
And
102.20
105.20
3.00
0.89
HR
And
119.90
126.00
6.10
0.63
HR
And
215.00
219.00
4.00
0.66
HR
And
227.40
244.00
16.60
1.28
HR
Incl.
233.00
236.00
3.00
3.01
HR
BBD1403
P8P9
727669
1350789
291
-50
312
240
4.00
30.00
26.00
0.37
OX
And
92.80
97.00
4.20
0.69
HR
And
123.00
132.00
9.00
0.76
HR
BBD1404
P16 N
729666
1344998
261
-52
270
186
103.00
104.00
1.00
1.24
HR
BBD1405
P16 N
729581
1344897
261
-50
269
228
88.00
100.00
12.00
2.68
HR
Incl.
99.00
100.00
1.00
27.31
HR
And
107.00
111.00
4.00
0.48
HR
And
125.00
130.00
5.00
1.72
HR
Incl.
125.00
128.00
3.00
2.69
HR
And
147.00
151.00
4.00
0.41
HR
And
185.00
191.00
6.00
0.43
HR
And
207.00
213.00
6.00
2.83
HR
Incl.
207.00
211.00
4.00
3.92
HR
BBD1406
P17 S
730207
1343149
260
-50
270
81
59.50
67.50
8.00
0.59
HR
And
71.00
72.00
1.00
7.55
HR
BBD1407
P17 S
730209
1343099
260
-49
270
87
54.00
56.00
2.00
1.36
HR
BBD1408
P17 S
730212
1343201
260
-50
271
105
10.00
15.00
5.00
2.04
HR
Incl.
14.20
15.00
0.80
5.20
HR
And
37.00
44.00
7.00
0.51
HR
And
48.00
67.00
19.00
1.39
HR
Incl.
64.00
67.00
3.00
4.97
HR
BBD1409
P17 S
730118
1342899
259
-54
271
81
55.00
66.30
11.30
4.00
HR
Incl.
60.40
61.20
0.80
3.98
HR
BBD1410
P17 S
730231
1343149
261
-50
270
114
87.00
88.00
1.00
4.18
HR
BBD1411
P17 S
730250
1343200
261
-49
270
153
19.00
27.30
8.30
3.81
HR
Incl.
24.00
27.30
3.30
9.14
HR
And
114.00
122.00
8.00
0.77
HR
And
130.00
143.00
13.00
1.19
HR
Incl.
137.00
141.00
4.00
2.67
HR
BBD1412
P17 S
730045
1343156
260
-49
269
120
NSR
BBD1413
SIGA S
728774
1344504
259
-49
250
168
NSR
BBD1414
P16 N
729545
1344850
261
-51
269
207
75.50
80.10
4.60
4.88
HR
Incl.
76.50
77.50
1.00
12.69
HR
And
150.00
155.00
5.00
0.49
HR
BBD1415
SIGA S
729375
1345629
261
-50
251
141
11.00
27.00
16.00
0.45
OX
And
99.00
104.00
5.00
1.17
HR
BBD1416
P8P9
727575
1350670
297
-49
311
255
76.80
83.00
6.20
0.70
HR
BBD1417
P16 N
729514
1344903
261
-50
270
198
86.00
91.00
5.00
0.73
HR
And
154.00
157.90
3.90
0.52
HR
And
180.70
184.15
3.45
0.72
HR
BBD1418
P16 N
729562
1344952
261
-51
271
255
27.00
32.00
5.00
0.41
HR
And
44.00
56.00
12.00
4.32
HR
Incl.
48.00
54.00
6.00
8.34
HR
And
149.00
153.30
4.30
0.41
HR
And
181.00
186.00
5.00
0.36
HR
BBD1419
P16 N
729626
1344949
261
-51
270
204
NSR
BBD1420
P16 N
729680
1345099
261
-49
270
204
168.00
169.00
1.00
4.41
HR
BBD1421
P16 N
729369
1345049
261
-49
270
120
94.70
95.80
1.10
0.74
HR
BBD1422
P16 N
729480
1344851
261
-51
272
159
64.40
66.00
1.60
0.77
HR
And
132.00
135.20
3.20
3.79
HR
Incl.
132.80
135.20
2.40
4.37
HR
BBD1423
P16 N
729580
1344800
261
-50
269
243
44.00
49.00
5.00
0.52
HR
BBD1424
P16 N
729528
1344750
261
-50
268
165
29.00
30.00
1.00
0.58
OX
BBD1425
P17 S
730448
1343253
261
-51
270
261
NSR
BBD1426
P17 S
730286
1343250
260
-51
271
189
11.35
13.00
1.65
1.62
HR
And
21.00
25.00
4.00
1.27
HR
And
39.00
41.00
2.00
2.44
HR
And
50.00
55.00
5.00
1.61
HR
Incl.
53.00
54.00
1.00
3.57
HR
And
76.00
78.00
2.00
1.81
HR
And
91.00
93.20
2.20
1.01
HR
And
106.00
112.00
6.00
2.22
HR
Incl.
110.90
112.00
1.10
10.79
HR
And
170.00
177.00
7.00
0.88
HR
And
181.00
188.00
7.00
1.39
HR
Incl.
186.00
188.00
2.00
2.83
HR
BBD1427
P17 S
730219
1343251
260
-50
271
120
34.00
39.00
5.00
0.30
HR
BBD1428
P17 S
730354
1343424
262
-50
271
228
107.00
110.00
3.00
0.72
HR
And
139.00
141.00
2.00
2.49
HR
And
168.00
175.00
7.00
2.03
HR
Incl.
173.00
174.00
1.00
10.70
HR
BBD1429
P17 S
730348
1343375
261
-51
271
300
71.30
76.00
4.70
0.72
HR
And
89.00
95.00
6.00
0.57
HR
And
100.00
102.00
2.00
1.44
HR
And
111.00
113.00
2.00
0.95
HR
And
136.00
137.00
1.00
3.24
HR
And
146.00
149.00
3.00
4.92
HR
And
161.00
171.00
10.00
0.81
HR
And
215.00
216.90
1.90
2.03
HR
And
281.00
292.60
11.60
0.89
HR
Incl.
285.00
287.00
2.00
3.05
HR
BBD1430
P17 S
730340
1343325
261
-50
270
300
29.00
34.00
5.00
0.65
HR
And
40.00
52.00
12.00
1.70
HR
Incl.
43.00
48.00
5.00
3.37
HR
And
57.00
62.00
5.00
2.16
HR
Incl.
59.00
62.00
3.00
3.16
HR
And
68.00
102.00
34.00
1.26
HR
Incl.
68.00
70.00
2.00
5.46
HR
And
91.00
93.00
2.00
5.29
HR
And
125.00
134.00
9.00
1.47
HR
Incl.
131.00
133.00
2.00
3.81
HR
And
151.00
158.00
7.00
0.71
HR
BBD1431
P17 S
730310
1343175
261
-51
271
348
31.40
34.60
3.20
0.85
HR
And
47.60
59.00
11.40
0.95
HR
And
105.00
115.20
10.20
0.88
HR
And
296.00
301.00
5.00
1.99
HR
Incl.
299.00
300.00
1.00
5.04
HR
BBD1432
P17 S
730335
1342825
252
-54
270
186
137.00
144.90
7.90
1.71
HR
Incl.
139.00
143.00
4.00
2.07
HR
BBD1433
P17 S
730220
1343300
261
-49
269
135
NSR
BBD1434
P17 S
730322
1343448
262
-49
271
303
NSR
BBD1435
SIGA S
729042
1344809
262
-49
253
221
199.00
206.00
7.00
0.30
HR
BBD1436
SIGA S
728744
1344917
263
-50
250
225
31.00
36.00
5.00
0.34
HR
And
60.30
67.30
7.00
1.17
HR
Incl.
62.00
63.00
1.00
4.72
HR
And
123.00
128.00
5.00
0.45
HR
And
142.80
148.00
5.20
0.45
HR
And
166.90
195.90
29.00
0.51
HR
And
199.30
211.00
11.70
0.43
HR
BBD1437
SIGA S
728702
1344955
264
-50
249
191
8.00
41.00
33.00
0.46
OX
And
88.00
114.00
26.00
1.74
HR
Incl.
97.00
103.00
6.00
3.33
HR
And
152.00
167.30
15.30
14.64
HR
Incl.
154.00
155.00
1.00
223.25
HR
And
174.00
189.70
15.70
0.45
HR
BBD1438
SIGA S
728635
1345297
269
-45
250
248
30.00
34.00
4.00
0.62
HR
And
52.00
59.00
7.00
0.63
HR
And
100.00
112.00
12.00
0.49
HR
And
151.80
179.00
27.20
1.08
HR
Incl.
165.00
178.00
13.00
1.60
HR
And
188.00
193.00
5.00
1.31
HR
And
228.00
231.00
3.00
0.60
HR
BBD1439
SIGA S
728703
1345000
265
-50
250
231
113.00
126.40
13.40
1.09
HR
Incl.
123.00
126.40
3.40
2.79
HR
And
163.00
199.00
36.00
0.72
HR
Incl.
178.00
180.00
2.00
3.32
HR
BBD1440
SIGA S
728672
1345634
269
-53
251
351
2.00
18.00
16.00
0.45
OX
And
47.00
54.00
7.00
0.38
HR
And
105.00
114.00
9.00
0.40
HR
And
119.00
124.00
5.00
0.42
HR
And
252.00
256.00
4.00
0.53
HR
And
264.00
271.00
7.00
0.59
HR
And
299.00
308.00
9.00
0.57
HR
And
328.00
344.00
16.00
1.60
HR
Incl.
336.00
343.00
7.00
2.96
HR
BBD1441
SIGA S
728642
1345623
269
-48
249
180
10.70
15.00
4.30
0.46
OX
BBD1442
SIGA S
728629
1345828
267
-51
253
321
78.40
86.00
7.60
0.32
HR
And
147.00
153.00
6.00
0.31
HR
And
165.00
168.00
3.00
0.48
HR
And
233.00
245.00
12.00
0.38
HR
And
303.00
321.00
18.00
0.89
HR
Incl.
312.00
317.00
5.00
1.62
HR
BBD1444
SIGA S
728576
1345919
265
-55
248
300
6.00
20.50
14.50
0.57
OX
And
92.10
95.40
3.30
2.13
HR
And
118.00
127.00
9.00
0.52
HR
And
212.00
220.00
8.00
0.71
HR
And
255.80
261.20
5.40
1.57
HR
And
266.00
283.00
17.00
0.50
HR
BBD1448
SIGA S
728364
1346161
263
-50
253
231
75.75
91.00
15.25
0.57
HR
And
111.00
122.00
11.00
0.42
HR
And
137.00
143.00
6.00
0.99
HR
And
157.00
164.00
7.00
0.32
HR
And
185.00
191.20
6.20
0.94
HR
BBD1451
NORTH
728853
1353894
279
-50
312
240
171.00
174.00
3.00
0.50
HR
And
178.00
199.10
21.10
0.57
HR
And
217.00
231.00
14.00
0.95
HR
BBD1452
NORTH
728810
1353863
279
-50
313
261
7.00
14.00
7.00
0.26
OX
And
178.00
188.00
10.00
0.67
HR
And
227.00
233.00
6.00
2.31
HR
Incl.
227.00
228.00
1.00
9.98
HR
BBD1454
NORTH
728744
1353859
277
-51
311
210
32.00
36.00
4.00
0.79
HR
And
63.50
67.00
3.50
1.26
HR
And
110.00
113.00
3.00
0.52
HR
And
189.40
199.00
9.60
0.68
HR
BBD1455
NORTH
728363
1353459
271
-50
313
270
62.00
68.00
6.00
0.69
HR
And
141.00
145.00
4.00
0.55
HR
*True width of mineralized intercept to drill core length: Siga 80-100%, P8P9 & P17 75-85%, North Zone 60-80%, P16 yet to be determined
ABOUT OREZONE GOLD CORPORATION
Orezone Gold is an emerging intermediate gold producer with operations in Canada and West Africa. Its Casa Berardi and Bomboré gold mines host significant mineral endowments, growth opportunities, and exploration upside. The recently acquired Casa Berardi mine in Quebec has produced over 3.2 million oz of gold to-date while the Bomboré mine was constructed and brought into production by Orezone in late 2022.
Orezone is led by an experienced management team committed to safe, sustainable, and responsible mining practices, with a focus on delivering long-term value for all stakeholders.
CONTACT INFORMATION
Patrick Downey
President and Chief Executive Officer
Amanda Mallough
Vice President, Investor Relations
Tel: 1 778 945 8977
info@orezone.com / www.orezone.com
For further information please contact Orezone at +1 (778) 945-8977 or visit the Company’s website at www.orezone.com.
The Toronto Stock Exchange neither approves nor disapproves the information contained in this news release.
This announcement was authorized for release by Patrick Downey, Director, President & CEO.
Qualified Person and Competent Persons Statement
Alastair Gallaugher (CGeol), Exploration Manager for Orezone, is the Qualified Person under NI 43-101 and has reviewed and approved the scientific and technical information contained in this news release.
Information in this press release that relates to grade control drilling and exploration results is based on, and fairly represents, information and supporting documentation prepared by Mr. Gallaugher, a Competent Person who is a Member of the Geological Society of London. Mr. Gallaugher has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a ‘Competent Person’ as defined in the 2012 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’ (JORC Code). Mr. Gallaugher is an employee of the Company and consents to the inclusion in this announcement of all technical statements based on his information in the form and context in which it appears.
Cautionary Note Regarding Forward-Looking Statements
This news 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 (collectively, “forward-looking statements”). Forward-looking statements are frequently characterized by words such as “expect”, “anticipate”, “believe”, “plan”, “intend”, “estimate”, “potential”, “continue”, “may”, “will”, “could”, “would” and similar expressions, or statements that certain actions, events or results “may”, “could”, “would” or “will” occur.
Forward-looking statements in this news release include, but are not limited to, statements regarding: the continuity, extent and potential expansion of mineralization at Bomboré; the potential for future Mineral Resource and Mineral Reserve growth; the expected timing of an updated Mineral Resource and Mineral Reserve estimate in the first quarter of 2027; the incorporation of approximately 100,000 metres of drilling into the updated estimate; the expected impact of revised cut-off grades; the potential to extend the mine life at Bomboré; the delineation and continuity of higher-grade mineralized zones; the potential for future underground mining opportunities; the timing, scope and results of current and future drilling programs; future pit optimizations; the conversion of Inferred Mineral Resources to the Indicated category; and the Company’s exploration plans, objectives and expenditures.
All forward-looking statements are based on assumptions that management believes are reasonable at the time such statements are made, including, without limitation, assumptions regarding the continuity of mineralization, the accuracy of geological interpretations, the results of current and future exploration programs, the completion of resource modelling and estimation work, the completion of pit optimization and mine planning studies, gold prices, operating costs, exchange rates, permitting, political and regulatory conditions, and the availability of labour, equipment and supplies.
Forward-looking statements are subject to a variety of known and unknown risks, uncertainties and other factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements. These risks and uncertainties include, without limitation: exploration results not supporting future Mineral Resource or Mineral Reserve estimates; geological, technical or metallurgical uncertainties; changes in mineral resource estimation assumptions; fluctuations in gold prices, foreign exchange rates and operating costs; delays in obtaining permits or regulatory approvals; changes in applicable laws or regulations; political and security risks in Burkina Faso; the availability of financing, labour, equipment and supplies; community relations; environmental and climate-related risks; operational risks; and the other risks described in the Company’s Annual Information Form and Management’s Discussion and Analysis filed under the Company’s profile on SEDAR+ at www.sedarplus.ca.
Although Orezone believes that the expectations reflected in the forward-looking statements contained in this news release are reasonable, there can be no assurance that such expectations will prove to be correct. Readers are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date of this news release. Except as required by applicable securities laws, Orezone undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
JORC Code, 2012 Edition
All dollar amounts are in USD unless otherwise indicated
Section 1 – Sampling Techniques and Data
Criteria
JORC Code Explanation
Commentary
Sampling techniques
Nature and quality of sampling (e.g. cut channels, random chips, or specific specialised industry standard measurement tools appropriate to the minerals under investigation, such as down hole gamma sondes, or handheld XRF instruments, etc.). These examples should not be taken as limiting the broad meaning of sampling.
Include reference to measures taken to ensure sample representivity and the appropriate calibration of any measurement tools or systems used.
Aspects of the determination of mineralisation that are Material to the Public Report.
In cases where ‘industry standard’ work has been done this would be relatively simple (e.g. ‘reverse circulation drilling was used to obtain 1 m samples from which 3 kg was pulverised to produce a 30 g charge for fire assay’). In other cases, more explanation may be required, such as where there is coarse gold that has inherent sampling problems. Unusual commodities or mineralisation types (e.g. submarine nodules) may warrant disclosure of detailed information.
Reverse circulation (RC) drill samples are collected every metre for the entire length of the borehole. All material from each meter was sampled via conical splitter attached to the RC rig cyclone. This produces a 2-3kg sub-sample which is collected in a prelabelled sample bag with sequential sample numbers.
Historical RC sampling includes collecting the cyclone underflow sample, splitting in a rotary sample divider to generate a RC sub-sample with a mass of ±2.1 kg.
HQ and NQ drill core samples are collected from half-drill core cut evenly lengthwise with a diamond saw at regular 1 m intervals. Sampling per geological contacts is permitted ± 0.2m either side of the meter mark. Samples are numbered and bagged before dispatch to the laboratory. Samples were consistently cut on a nominal 10 degree rotation from the orientation line mark on the core (where orientation available, otherwise a consistent cut-line is established) and the non-orientation/cut-line marked side of the core is submitted for assay.
Samples were submitted to BIGS Laboratory in Ouagadougou after drying, the entire sample is crushed to 6 mm and pulverised to achieve 85% passing 106 μm. The pulverised samples are returned to site and rotary split to 1 kg for use as original samples and duplicates. Samples are returned to BIGS for Au determination by 1kg LeachWELL with atomic absorption spectrometry (AAS) finish.
Drilling techniques
Drill type (e.g. core, reverse circulation, open-hole hammer, rotary air blast, auger, Bangka, sonic, etc.) and details (e.g. core diameter, triple or standard tube, depth of diamond tails, face-sampling bit or other type, whether core is oriented and if so, by what method, etc.).
RC drilling was undertaken using a contractor owned rig with auxiliary air. 4” or 4 1/2” face sampling hammers are used.
Diamond drill core material from both surface drilling and pre-collars is collected from a combination of HQ and NQ diameter diamond drilling (collaring in HQ and change over to NQ diameter in fresh rock) obtained by wireline drilling with standard tube.
Core orientations were completed using Reflex ACT III RD and ACTx orientation tools with the orientation line marked up at the rig side and reviewed by geologists in the core shed.
Drill sample recovery
Method of recording and assessing core and chip sample recoveries and results assessed.
Measures taken to maximise sample recovery and ensure representative nature of the samples.
Whether a relationship exists between sample recovery and grade and whether sample bias may have occurred due to preferential loss/gain of fine/coarse material.
Diamond core recoveries are measured in the core trays and recorded as recovered meters and recovered % as part of the geological logging process. RC sample recovery was qualitatively logged with weights of bulk samples recorded at the rig side.
Sample recovery and integrity was maximised by drilling with sufficient air pressure to maintain dry samples with holes stopped if significant water ingress. Dry, moist or wet samples are recorded in the database.
Examination of the RC and DD composite grade distributions suggests a slight positive bias between the RC and DD composite sample populations at grades <0.15 g/t, and a negative bias between these two populations at grades higher than 0.20 g/t. These biases are not considered critical, and no correction factors were applied.
Logging
Whether core and chip samples have been geologically and geotechnically logged to a level of detail to support appropriate Mineral Resource estimation, mining studies and metallurgical studies.
Whether logging is qualitative or quantitative in nature. Core (or costean, channel, etc.) photography.
The total length and percentage of the relevant intersections logged.
Logging protocols were followed to a level of detail suitable for support of the Mineral Resource and Ore Reserve estimate. Both RC chip samples and core samples include quantitative analysis (Niton XRF) and photographs. Core sample logging included qualitative data such as lithology, weathering intensity, competence (RQD) and discontinuities.
All reported drilling is logged in its entirety.
Sub-sampling techniques and sample preparation
If core, whether cut or sawn and whether quarter, half or all core taken.
If non-core, whether riffled, tube sampled, rotary split, etc. and whether sampled wet or dry.
For all sample types, the nature, quality and appropriateness of the sample preparation technique.
Quality control procedures adopted for all sub-sampling stages to maximise representivity of samples.
Measures taken to ensure that the sampling is representative of the in-situ material collected, including for instance results for field duplicate/second-half sampling.
Whether sample sizes are appropriate to the grain size of the material being sampled.
Core samples are collected from half-drill core cut lengthwise with a diamond saw.
RC samples representing a 1/8 split of each meter drilled are collected from a rig-mounted cone splitter. Drilling is discontinued if dry sample is unable to be maintained.
Field duplicates are collected from the RC rig splitter and inserted into the regular sample stream every 50 samples. Mineralised RC field duplicates for 2025 drilling are within 1 % of the original split. Lab-aware pulp duplicates a inserted every 25 samples for diamond core samples.
For both RC and DD samples, the entire sample is crushed and pulverised with >85% passing 75microns.
The 2-3 kg sample size is deemed appropriate given that the gold occurs as fine grained electrum.
Quality of assay data and laboratory tests
The nature, quality and appropriateness of the assaying and laboratory procedures used and whether the technique is considered partial or total.
For geophysical tools, spectrometers, handheld XRF instruments, etc., the parameters used in determining the analysis including instrument make and model, reading times, calibrations factors applied and their derivation, etc.
Nature of quality control procedures adopted (e.g. standards, blanks, duplicates, external laboratory checks) and whether acceptable levels of accuracy (i.e. lack of bias) and precision have been established.
Reviews of the sampling, analytical, and quality assurance and quality control (QA/QC) protocols used on the RC and core programs have been completed and acceptable levels of accuracy have been achieved.
No geophysical tools, spectrometers, or handheld XRF instruments have been used in the reported exploration results to determine chemical composition at a semi-quantitative level of accuracy. Assaying for gold is by the LeachWELL bottle roll cyanide leach method. Gold content in the solution is determined using atomic absorption analysis. For all the samples having liquor grade >0.2 g/t Au, the tail is washed, dried and a 50 g charge is split and submitted for assaying using a conventional fire assay procedure on 50 g sub-sample.
The QA/QC protocol since 2011 is to submit 2% Blind Field Duplicates, 3% Blind Pulp Duplicates, 5% Lab Aware Pulp Duplicates, 2% Blind Blanks and 3% Blind Standards.
The laboratory inserted commercial standards and completed repeat assays. Repeat or duplicate analysis for samples shows that the precision of samples is within acceptable limits, and a review of results from both laboratory and Company inserted commercial standards indicate acceptable levels of accuracy have been established.
Verification of sampling and assaying
The verification of significant intersections by either independent or alternative company personnel.
The use of twinned holes.
Documentation of primary data, data entry procedures, data verification, data storage (physical and electronic) protocols.
Discuss any adjustment to assay data.
The Competent Person has confirmed the sample preparation, security, analytical procedures and QA/QC undertaken are adequate for the purposes of Mineral Resource estimation and that there are no factors that materially impact the reliability or accuracy of the dataset employed in the calculation.
Data acquisition is completed on a combination of paper log sheets, and entry into a self-validating data entry software package (LogChief). Integrated datasets have been uploaded to the Company’s SQL hosted database and archived on physical back-up drives.
There are no twinned holes.
Below detection limit values (negatives) have been replaced by background values.
Location of data points
Accuracy and quality of surveys used to locate drill holes (collar and down-hole surveys), trenches, mine workings and other locations used in Mineral Resource estimation.
Specification of the grid system used.
Quality and adequacy of topographic control.
The borehole collars are spotted in the field and pegged using a differential global positioning system (DGPS) set to achieve sub-metre accuracy. Post drilling, the completed holes are surveyed by Bomboré mine surveyors using Trimble GNSS with correction by real time kinematic (RTK) to ensure sub decimeter accuracy.
Grid system is based on the UTM30N grid on the WGS84 ellipsoid. Down hole surveys were undertaken by the Company using a Reflex Ez-Trac tool and Reflex OMNI Gyro with readings measured in continuous and multishot mode with readings taken between 10-30m. Holes are validated in IMDEX Hub prior to inclusion in the drillhole database. Azimuths measured using magnetic fields are converted to a geographic azimuth using the declination applicable at the time of the survey.
Data spacing and distribution
Data spacing for reporting of Exploration Results.
Whether the data spacing and distribution is sufficient to establish the degree of geological and grade continuity appropriate for the Mineral Resource and Ore Reserve estimation procedure(s) and classifications applied.
Whether sample compositing has been applied.
Data spacing is variable across the deposit, ranging from 50x50m at the periphery to 25x25m in the more densely drilled core.
The oxide resources have been defined along 50 m-spaced drill sections with 25 m between the drill collars. The hard rock resources have been defined generally along 50 m-spaced drill sections with 50 m between the drill collars.
Drill samples were composited to 1m for use in resource estimation. Mining at Bomboré has demonstrated reasonable continuity over a strike of 10 km at a cut-off grade of 0.15 g/t Au. At this cut-off grade, the gold mineralisation forms corridors 500 m to 1,000 m in length and 10 m to 100 m in width. At a cut-off grade of 0.5 g/t Au, the higher-grade subdomains have a strike length of up to 500 m and a width typically between 5 m and 30 m.
Support of the strong continuity of mineralisation along strike has been confirmed by mining production and mapping of pit walls and floors.
Orientation of data in relation to geological structure
Whether the orientation of sampling achieves unbiased sampling of possible structures and the extent to which this is known, considering the deposit type.
If the relationship between the drilling orientation and the orientation of key mineralised structures is considered to have introduced a sampling bias, this should be assessed and reported if material.
In all areas, the drilling direction is opposite to the dip and orthogonal to the average strike of the lithological units, major fabrics, and wireframed mineralised domains. The plunge of the boreholes at the collar is generally 50° ±5°, thereby intersecting the lithological units, major fabric and wireframed mineralised domains at an angle between 65° and 90°.
No sampling bias was deemed to have occurred.
Sample security
The measures taken to ensure sample security.
Strict security measures are applied throughout the sampling, sample preparation, and analytical stages. The RC samples and the drill core retrieved by the drillers are collected and handled at the drill site by Orezone personnel. The sample bags are transported by a dedicated driver to a secure storage area in the Bomboré Gold Project area. The sample storage area at the Bomboré Gold Project is fenced and a watchman provides full-time security. Finally, the samples are dispatched to the analytical laboratories under the direct control of Orezone staff, who monitor the preparation and shipment of the samples. This procedure ensures reasonable chain of custody by Orezone from the drill sites to the analytical laboratory.
Audits or reviews
The results of any audits or reviews of sampling techniques and data.
In 2017, Mr Yassa collected 50 samples from 15 RC boreholes and 35 cored boreholes during the site visit for independent analysis of gold content. There was a good correlation between the independently collected verification samples analysed at SGS and the Orezone data.
Section 2 – Reporting of Exploration Results
Criteria
JORC Code Explanation
Commentary
Mineral tenement and land tenure status
Type, reference name/number, location and ownership including agreements or material issues with third parties such as joint ventures, partnerships, overriding royalties, native title interests, historical sites, wilderness or national park and environmental settings.
The security of the tenure held at the time of reporting along with any known impediments to obtaining a licence to operate in the area.
The Project covers an area of 12,963 ha and consists of one Industrial Operating Permit (the Bomboré Mining Permit) of 2,887 ha, surrounded by four Mining Exploration Permits: the Bomboré II Exploration Permit of 1,265 ha, the Bomboré III Exploration Permit of 3,360 ha, the Bomboré IV Exploration Permit of 833 ha and the Bomboré V permit of 4,618 ha.
The Bomboré Mining Permit is registered in the name of Orezone Bomboré S.A. (OBSA), a 90%-owned subsidiary of Orezone Inc. S.A.R.L, itself a 100%-owned subsidiary of Orezone Inc., which is 100% owned by Orezone. The Bomboré Mining Permit was granted to OBSA by way of Decree No. 2016-1266/PRES/PM/MEMC/MINEFID/MEEVCC dated 30 December 2016 and is valid for an initial tenure of 10.7 years but can be extended if the mine life is extended beyond what was initially applied for.
All mining ventures in Burkina Faso are subject to a 10% free carried interest and a royalty on gold sold in favour of the Government of Burkina Faso, upon the award of an operating permit from the government.
Exploration done by other parties
Acknowledgment and appraisal of exploration by other parties.
Between 1989 and 2000, mineral exploration programs were completed by La Générale des Mines et des Carrières (GMC), Channel, Solomon, and Placer Dome. A total of 1,271 core, RC and rotary air blast (RAB) boreholes were completed. Channel completed 10 diamond boreholes for approximately 1,100 m, 261 RC boreholes for approximately 20,000 m, and 1,000 RAB boreholes for approximately 34,000 m.
Geology
Deposit type, geological setting and style of mineralisation.
Bomboré is an orogenic gold deposit, exhibiting structural control and associated hydrothermal alteration mineral assemblages. The deposit represents a large tonnage, low-grade gold mineralisation system similar to other Birimian gold deposits, such as Kiaka in Burkina Faso, Damang, Yamfo-Selwi in Ghana, and Sadiola in Mali.
The geological setting is part of a northeast–southwest trending greenstone belt extending for 50 km. The permit area is underlain mainly by a metasedimentary flysch-type sequence dominated by metasandstones with subordinate carbonaceous meta-pelites and polymictic metaconglomerates.
The Bomboré gold deposits occur within a major north to northeast trending structure. The gold deposits were discovered by tracing gold-in-soil anomalies to bedrock by drilling. Gold mineralisation is associated with arrays of structurally controlled quartz veins and veinlets and attendant silica, sulphide, and carbonate alteration.
Drill hole Information
A summary of all information material to the understanding of the exploration results including a tabulation of the following information for all Material drill holes:
easting and northing of the drill hole collar
elevation or RL (Reduced Level – elevation above sea level in metres) of the drill hole collar
dip and azimuth of the hole
down hole length and interception depth
hole length.
If the exclusion of this information is justified on the basis that the information is not Material and this exclusion does not detract from the understanding of the report, the Competent Person should clearly explain why this is the case.
The Bomboré mine commenced production in 2022.
The Mineral Resource estimate includes a total of 6,322 RC drill holes and 1,426 diamond drill core holes.
The Competent Person has determined that the detailed information on the drill holes is not material and does not detract from the understanding of the report.
Data aggregation methods
In reporting Exploration Results, weighting averaging techniques, maximum and/or minimum grade truncations (e.g. cutting of high grades) and cut-off grades are usually Material and should be stated.
Where aggregate intercepts incorporate short lengths of high-grade results and longer lengths of low-grade results, the procedure used for such aggregation should be stated and some typical examples of such aggregations should be shown in detail.
The assumptions used for any reporting of metal equivalent values should be clearly stated.
All intersections are assayed on predominantly 1 m intervals and no top-cuts are applied to exploration results.
Reporting of mineralised intervals is based on a lower cut-off grade of 0.28 g/t in the Oxide+Upper Transition zone, and 0.45 g/t Au in the Lower Transition+Hard Rock zone, with a minimal width of 1.5 m and up to a maximum of 3.0 m of dilution being included.
Relationship between mineralisation widths and intercept lengths
These relationships are particularly important in the reporting of Exploration Results.
If the geometry of the mineralisation with respect to the drill hole angle is known, its nature should be reported.
If it is not known and only the down hole lengths are reported, there should be a clear statement to this effect (e.g. ‘down hole length, true width not known’).
The majority of the drilling was planned to intersect mineralisation in a perpendicular manner or as close as practicable.
The true width of the mineralisation to drill core length:
-Siga: 80-100%
-P8P8 & P17: 75-85%
-North Zone: 60-80%
-P16: Yet to be determined
Diagrams
Appropriate maps and sections (with scales) and tabulations of intercepts should be included for any significant discovery being reported These should include but not be limited to a plan view of drill hole collar locations and appropriate sectional views.
Appropriate diagrams have been included for reporting of significant intercepts.
Balanced reporting
Where comprehensive reporting of all Exploration Results is not practicable, representative reporting of both low and high grades and/or widths should be practiced to avoid misleading reporting of Exploration Results.
All grades, high and low, are reported accurately with ‘from’ and ‘to’ depths and ‘hole identification’ shown.
Other substantive exploration data
Other exploration data, if meaningful and material, should be reported including (but not limited to): geological observations; geophysical survey results; geochemical survey results; bulk samples – size and method of treatment; metallurgical test results; bulk density, groundwater, geotechnical and rock characteristics; potential deleterious or contaminating substances.
All material exploration data including metallurgical test results have been reported.
Further work
The nature and scale of planned further work (e.g. tests for lateral extensions or depth extensions or large-scale step-out drilling).
Diagrams clearly highlighting the areas of possible extensions, including the main geological interpretations and future drilling areas, provided this information is not commercially sensitive.
In 2024 Orezone designed an initial 30,000 m first pass exploration drill program, that will test multiple targets across the greater than 14 km long mineralised 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 be centred on the North Zone and 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 mineralised system to depths of up to 400 m. 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 mineralisation that 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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1. Results are from multiple zones, are uncapped, and have variable true widths. See Section 2 of release for per zone estimated true widths.
Photos accompanying this announcement are available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/7f14d351-07c2-43fc-aaed-9588a9b333e9
https://www.globenewswire.com/NewsRoom/AttachmentNg/d3078b32-4669-4e3d-9c4d-5421d3065048
https://www.globenewswire.com/NewsRoom/AttachmentNg/e44d49e3-64ec-47e0-b986-2a7723d7caed
https://www.globenewswire.com/NewsRoom/AttachmentNg/423a0461-c4b3-4bb1-a8eb-d3d5c8510acb
https://www.globenewswire.com/NewsRoom/AttachmentNg/b8ef5ce9-2be6-452e-9ea4-f3d4c890780e