Orezone extends Bondi’s Main zone

Ongoing reverse-circulation by Orezone Resources (ORZ-T) has extended the Main zone at the company’s Bondi project in Burkina Faso, West Africa, by about 1,300 metres to at least 2.1 km.

Drilling at the southern end of the Main zone was highlighted by hole 76, which returned 19 metres (beginning 79 metres below surface) grading 2.1 grams gold per tonne. Hole 72 cut 23 metres (from 16 m) running 1.7 grams gold.

Results from other nearby holes include:

• Hole 71 3 metres (from 25 m) of 0.8 gram gold and 2 metres (from 35 m) averaging 1.5 grams;
• Hole 73 — 19 metres (from 24 m) grading 0.8 gram gold and 2 metres (from 72 m) of 2.6 grams;
• Hole 74 13 metres (from 34 m) grading 1.2 grams gold, 20 metes (from 50M0 of 0.9 gram, and 6 metres (from 79 m) of 0.9 gram; and
• Hole 75 2 metres (from 69 m) running 1.3 grams gold.

The holes targeted an area south of a 900-metre-long swampy area. Orezone says that soil sampling further south has also returned positive results.

Meanwhile, drilling on the Main zone north of the swamp was highlighted by hole no. 77, which encountered an 80-metre (from surface) interval averaging 2.9 grams gold. The hole was designed to test the continuity and depth of the zone. The zone remains open at depth as the hole ended in mineralization. The hole also indicates that oxidized ore persists to a depth of 53 metres.

An initial phase of shallow RC drilling in the area returned up to 11 metres of 6.1 grams gold (T.N.M., Jan. 5-11/04). Those angled holes tested the zone between 10 and 40 metres below surface.

Orezone believes the mineralization encountered on either side of the swamp represents a single 2.1-km-long zone. The swampy gap and southern extension will be tested during the current program. Drilling will also target several parallel structures with geology and soil geochemistry similar to the Main zone.

“We are so encouraged by the results to date that we have significantly increased our budget and efforts in order to bring this project to a prefeasibility stage as quickly as possible,” said Ron Little Orezone’s CEO.

The latest holes are part of 74 planned holes totalling 6,100 metres worth of RC drilling and 3,500 metres of diamond drilling. The company has budgeted US$1 million to determine the depth of the Main zone, while RC drilling will test near-surface extensions of the Main zone and parallel structures. Drilling is expected to wrap up in July.

Since first discovering significant gold mineralization at Bondi last June, the company has sunk some 6,210 metres in 92 holes. An initial resource calculation is expected by quarter’s end.

Meanwhile, Orezone has been granted the exploration rights for the Poyo permit immediately to the south. The 250-sq.-km property brings Orezone’s landholding in the area to more than 1,000 sq. km. Plans at Poyo call for mapping, soil sampling, and trenching over the next several months. Drilling will follow.