Orezone Gold Corporation (TSX: ORE) released positive metallurgical test results on its 100% owned Bombore gold deposit located in Burkina Faso, West Africa. The test results for the near surface oxide and transition resources are better than previous estimates, which were used for an in-house scoping study. The latest results therefore enhance the economics of the Bombore project.
Orezone is a gold exploration and development company with more than 15 years experience in West Africa, one of the world's fastest growing gold producing regions. Orezone delineated, developed, financed and sold Burkina Faso's largest deposit, Essakane to IAMGOLD (NYSE: IAG) for $350M. The Toronto listed company continues to focus on developing the rest of its pipeline of advanced projects including the Bombore Project.
The Bombore gold deposit hosts 0.93 million ounces of Indicated resources and 1.78m ounces of Inferred resources at an average gold grade of approximately 0.5 grams per tonne in the near surface oxide zone and 1.0 grams per tonne in the underlying primary sulphide resource.
Bottle-roll Cyanidation on the coarse material recovered 82% gold recoveries for the oxide resource and 72% gold recoveries for the transition resource. Meanwhile the ongoing Column Leach test displayed 79% gold recoveries for the oxide resource, 76% of the recovered gold for the transition resource was leached after 26 days.
Significantly less capital investment and time is required to develop a heap leach operation at Bombore.
Approximately half of the inferred resource is oxide and transition material amenable to heap leach processing.
The Company will carry out a $2M delineation drill program to both increase and upgrade the oxide and transition resources. The drill program will be completed by mid-2010. All metallurgical testing, updated scoping study results, and a baseline study of the project foot print will be completed by year-end.
The Company is continuing to study power costs for grinding and processing of the sulphide resource using conventional milling techniques as they may provide additional upside for the development of the project beyond a heap leap leach operation.
The Bombore property has the potential to host a large, open pit gold project with very good infrastructure in place compared to many projects in West Africa as it is located just 80km east of the capital city of Ouagadougou.