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Orezone Gold Announces Updated Feasibility Study to Incorporate a Phase II High-Grade Sulphide Expansion
OTTAWA, Nov. 19, 2018 (GLOBE NEWSWIRE) -- Orezone Gold Corporation (TSXV: ORE) (“Orezone” or the “Company”) is pleased to provide the following key updates on i
About this update from Orezone Gold Corporation
[{"type":"text","content":" OTTAWA, Nov. 19, 2018 (GLOBE NEWSWIRE) -- Orezone Gold Corporation (TSXV: ORE) (“Orezone” or the “Company”) is pleased to provide the following key updates on its 90%-owned Bomboré Gold Project: Work has commenced to update the 2018 Feasibility Study (“2018 FS”) to include a staged higher-grade sulphide expansion (“Phase II Sulphide Expansion”) to complement the oxide mine plan in the 2018 FS. The Phase II Sulphide Expansion is envisioned as a 3,000 to 3,500 tonne per day (“tpd”) sulphide circuit to process zones of higher-grade sulphide and lower transition oxide resources starting in Year 3 of commercial production. Capital for this expansion is expected to be funded by future operating cash flows. Roscoe Postle Associates Inc. (“RPA”) will update the current January 5, 2017 mineral resource (“2017 Resource”) estimate to include the oxide material within the previously termed Restricted Zones and the free milling sulphide material at P17S in support of this Phase II Sulphide Expansion study. This update to the 2018 FS will not impact the ongoing development and schedule of the Bomboré project as presented in the 2018 FS. As stated in the Company’s press release of November 8th, 2018, the current project is being designed as a 5.2 Million tonne per annum (“Mtpa”) operation and is currently advancing through detailed engineering with first gold production scheduled to commence by October 2020. Patrick Downey, President and CEO, stated that “We are very excited to commence an updated feasibility study to evaluate the potential upside of a sulphide circuit to meaningfully contribute to the project’s future gold production as part of a phased expansion to the 2018 FS oxide mine plan. Previously, the sulphides at Bomboré were viewed as a large low-grade deposit. However, a recent detailed review of the Measured and Indicated (“M&I”) sulphide resources by the Company and our consultants has identified continuous zones of significantly higher grade, near surface mineralization which warrants a more in-depth analysis. In addition to the higher grade sulphides at P17S, we have successfully identified four additional areas of thick and continuous higher-grade M&I sulphide resources located directly beneath current oxide reserves. Historical metallurgical test work together with pi...