Randgold Resources
Orezone Gold Corporation
West Africa Projects  
11 January 2017

Orezone Gold Corporation increase Bomboré mineral resource

TSXV-listed Orezone Gold Corporation has updated its 2017 mineral resource statement for its Bomboré gold project in Burkina Faso, West Africa.

Burkina Faso –  The updated Bomboré resource estimation was performed by Toronto-based Roscoe Postle Associates.

The overall results show that the gold ounces contained in the 2017 Measured and Indicated resource have increased by 15% from 3.22 Moz to 3.69 Moz with a 5% reduction in the average gold grade to 0.92 g/t as compared to the 2016 estimate.

Of this, the oxidized and transition Measured and Indicated resource increased by 10% with a 3% reduction in the average gold grade to 0.87 g/t and the fresh rock (sulphide) Measured and Indicated resource increased by 18% with the average gold grade reduced by 7% to 0.97 g/t.

The mineral resources were estimated at variable cut-off grades depending on weathering layer and geographic location.

The increase in resources is directly attributable to the recent modeling (wireframing) of the additional mineralisation that had been categorised as the waste domain (third domain) within the pit shells that constrained the 2016 estimate and not due to a change in methodology or gold price.

As previously stated on 7 September 2016 approximately one third of the reduction in Measured and Indicated resources between the 2013 and 2016 estimates was related to environmentally sensitive areas and areas set aside for the benefit of local artisanal miners.  Most of these resources were already excluded from the 2015 feasibility study reserve estimation and will remain excluded in the 2017 feasibility update.

Orezone Gold Corporation notes that some of these resources may be recaptured in the future through independent studies and permitting. “By combining the 2017 increase in resources with this voluntary reduction in resources for technical and practical reasons, the difference between 2013 and 2017 resource estimates is now less significant,” the company notes.

“The 2017 resource update shows a significant increase over the 2016 estimate and better reflects the mineralisation that was not previously wireframed (accounted for) in the 2016 estimate,” Says Ron Little, CEO of Orezone Gold Corporation.

“It is important to note that we followed the same methodology, protocols and parameters as those used in the 2016 estimate along with the same level of rigor and conservatism. Some upside remains in the area of Inferred resources that occur within the pit shells that constrain the resource (in the third domain) that may well be upgraded and included within future mine production by grade control drilling during the mining phase.”

With the resource updated and complete, Orezone Gold Corporation is now working with Roscoe Postle Associates to complete the mineral reserves and mine plan in order to update and optimise the 2015 Phase 1 feasibility study.

2017 work plan

The Bomboré project benefits from a large oxide and sulphide resource that allows for flexibility and potential expansion of the process facility.  The resource remains open at depth and for the most part along strike.

The company is planning further drilling for infill, expansion, and model testing purposes during the first half of 2017 once the appropriate permits have been received.

Part of the focus of this drilling is to define and upgrade the mineralization that is currently unclassified and occurs within the resource pit limits. This drilling will generally be shallow and designed to demonstrate the ability to upgrade resources by expanding grade domains and to test areas that have been previously identified as prospective but are presently excluded from the current estimate.

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