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Monday, 27th April 2009 (3179 views)

Orezone Gold has reported that it has set an initial exploration budget of $1.8 million (£1.23 million) for 2009.

The funding will be used primarily to carry out an expansion drilling and metallurgical testing programme at its wholly-owned Bombore gold property.

A 4,500m, 20 hole diamond drilling programme has commenced at Bombore to test the depth potential of the deposit below current drilled depths and Orezone has contracted GBM Minerals Engineering Consultants to supervise metallurgical testing.

The project in Burkina Faso, west Africa, hosts 0.93 million ounces of indicated and 1.78 million ounces of inferred resources, with grades averaging around 0.5 g/t gold in the surface oxide zone and 1.0 g/t gold in the fresh rock below.

Ron Little, chief executive of the company, stated: "While we are very enthusiastic about Bombore, it is prudent to wait for metallurgical and deep drilling results before making a major expenditure commitment."

Based in Ottawa, Orezone Gold has a series of projects in west Africa, including Bombore, one of the region's largest gold deposits.

 

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