Orezone acquires ground in N.W. Que.

Junior Orezone Resources (ORZ-M) has re-acquired the Bourlamaque property on the eastern boundary of Placer Dome’s Sigma gold mine in Val d’Or, Que.

The company sold the property last year, only to repurchase it this year for 20,000 shares, as allowed under a conditional buy-back clause. It is now compiling historical data related to the property and plans to test the depth potential of known gold-bearing zones that trend on to the property.

Meanwhile, Orezone has entered into a 50-50 joint venture with Virginia Gold Mines (VIA-M) on its Lac Village property in the Eastmain River area of northern Quebec.

Virgina will operate a reconnaissance mapping and sampling program, to begin shortly.

Orezone bought its interest in the Lac Village property from a third party for $5,000 cash upon signing and 25,000 of its shares each year for the next three years.