Ottawa, Canada — MININGREVIEW.COM — 16 April 2006 – Orezone Resources Incorporated – an emerging intermediate gold producer based in Canada and listed on the TSX and AMEX – has discovered a large molybdenum (Mo) – Copper (Cu) porphyry-style system within 30km of the company’s cornerstone Essakane gold deposit in West Africa.
An Orezone announcement here explains that the discovery was made on the Kourki Mo-Cu prospect, which is situated in Niger on the Kossa permit, and forms part of the company’s 2275km² land package that straddles the border between Burkina Faso and Niger. The 1km-by-2km target was identified during a regional gold exploration programme using multi-element soil sampling, rock sampling and geophysical surveys. A limited eight-hole, 1200m diamond drill programme intersected significant Mo and Cu mineralisation over large intervals.
“The scale of the target and grade of mineralisation defined through this limited scout drill programme speaks to the significant potential of this new discovery,” said Orezone vice president for exploration Steve King. “The Company is considering a number of strategic alternatives to advance the project.”
Orezone is an explorer and emerging gold producer whose main asset is Essakane – the largest gold deposit in Burkina Faso. It has 4.0 Moz of indicated resources and 1.3 Moz of inferred resources at a 0.5 g/t cut off. Reserves contained within a US$500 gold price mine plan amount to 2.65 Moz. The deposit remains open and untested below 300m from surface, and is surrounded by several satellite deposits. Production of some 290 000 oz pa is scheduled to begin in 2010.
The company also has a pipeline of developing projects, all located in West Africa, one of the world’s fastest growing gold producing regions.