Orezone Resources (OZN-T) has hit good gold grades down plunge of the Essakan main zone in Burkina Faso, West Africa.
The Essakan main zone was tested by 25 reverse circulation holes, located to intersect an interpreted extension of the deposit.
Highlights of this drilling include:
- 36 metres grading 23.08 grams gold per tonne
- 18 metres grading 11.69 grams gold per tonne
- 11 metres grading 7.39 grams gold per tonne
All holes were vertical, to a maximum depth of 150 metres. Nine holes stopped in mineralization and the same number, (although not all the same holes) had casing inserted to facilitate future diamond drilling. Apart from the 3 holes listed above 13 holes intersected gold grades of 0.9 to 3.99 grams gold over widths of 4 to 54 metres. 7 holes contained no significant mineralization, however these were generally stopped before reaching their intended depth.
The Essakan main zone contains an estimated 18.9 million tonnes (measured and indicated) with a grade of 2.14 grams gold per tonne and an inferred 5.2 million tonnes grading 1.76 grams per tonne for a total resource of 1.5 million ounces at 2.1 grams gold per tonne.
The deposit is in the nose of an anticline that strikes northwest. The centre contains multiple higher grade zones (greater than 2.5 grams gold per tonne), surrounded by a lower grade (about 1.5 grams per tonne) halo.
The Essakan project is a joint venture with Gold Fields (GFI-N), who can earn a 50% interest by spending US$8 million over 5 years.
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