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Orezone Gold Corp.
Summary
| Project: | Bombore | |
|---|---|---|
| Deposit: | Bombore | |
| Location: | Burkina Faso | |
| Commodities: | Gold | |
| Date: | 6/27/2019 | |
| Report Code: | NI43-101 | |
| Report Type: | Feasibility Study | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 27-6-2019: Orezone Gold Corp. announces a Feasibility Study report for its Bombore deposit at the Bombore project. Updated Feasibility Study results incl. post-tax NPV (5%) of $361M, IRR of 43.8%. June 26, 2019 – Vancouver, BC - Orezone Gold Corporation ( | |
| Resources: | (Reserve, P+P): 70.1Mt @ 0.81g/t Au for 1.835Moz Au contained | |
| CP/QP: | [Resources]: Jose Texidor Carlsson, Tudorel Ciuculescu (Roscoe Postle Associates Inc.) | |
| ABSTRACT: | June 26, 2019 – Vancouver, BC - Orezone Gold Corporation (TSXV:ORE) (“Orezone” or the “Company”) is pleased to report the results of its updated feasibility study (the “2019 FS”) which incorporates a staged Phase II Sulphide Expansion for its 90%-owned Bomboré Gold Project in Burkina Faso, West Africa. The 2019 FS incorporates a staged Phase II Sulphide Expansion with production commencing in Year 3 of oxide operations. This expansion, funded from oxide cashflows, significantly improves the overall gold production profile and project economics by processing 17.6Mt of higher-grade sulphide and lower-grade transition (“LT”) ore. Furthermore, the addition of these Reserves and the oxides within the “Restricted Zones” facilitates the increase in the annual plant throughput from 4.5 million tonnes per annum (“Mtpa”) in the 2018 FS to 5.2Mtpa in the 2019 FS. “The staged development approach at Bomboré resultsin increased annual gold production, improves operating margins and significantly enhances economics including a material increase in after-tax NPV of $137.5M. The results of the 2019 FS confirm that Bomboré is a long-life, low-cost gold mine and we continue to evaluate additional project opportunities.” said Patrick Downey, President and CEO. “Equally important, the decision to complete the Phase II Sulphide Expansion after the start-up of oxide operations, allows the Company to fund construction of the sulphide circuit without the need for additional upfront capital.” | |
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