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Orezone Gold Corp.
Summary
| Project: | Bombore | |
|---|---|---|
| Deposit: | Bombore | |
| Location: | Burkina Faso | |
| Commodities: | Gold | |
| Date: | 8/22/2016 | |
| Report Code: | NI43-101 | |
| Report Type: | Feasibility Study | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 22-8-2016: Orezone Gold Corp. announces a Feasibility Study report for its Bombore deposit at the Bombore project. Resource revision - 2013 resource and 2015 feasibility study are both withdrawn. August 22, 2016 - Orezone Gold Corporation (ORE: TSXV) anno | |
| Resources: | (not mentioned in this report) | |
| CP/QP: | [Overall Report]: Tim Miller, Pascal Marquis, Ron Little (Internal) | |
| ABSTRACT: | August 22, 2016 - Orezone Gold Corporation (ORE: TSXV) announces that preliminary results from the ongoing Bomboré Project resource estimation, performed by Roscoe Postle Associates (RPA) in Toronto, Ontario, indicates that the tonnage and gold ounces contained in the previous 2013 Bomboré oxidized measured and indicated resource may be reduced by approximately 30% with the resulting tonnage remaining at a similar average grade. The 2013 Bomboré fresh rock (sulphide) resource may also be reduced by a similar amount or less. As a result, the 2013 Resource Update and the 2015 Feasibility Study NI 43-101 Technical Report of the Bomboré Gold Project should no longer be relied upon and are withdrawn by the Company. Based on the anticipated reduction of the measured and indicated oxidized resource, the Company also expects the oxidized mineral reserves, calculated at a US$1,100 gold price, to be reduced by about 30%. This represents a material change to the initial scope of the project and the Company plans to revise and release the Phase 1 feasibility project economics as soon as possible in order to determine the next stage of development for the project. RPA is expected to deliver the updated 2016 resource statement along with a fulsome comparison to the previous 2013 resource estimate by September 7, 2016. | |
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