Business
Orezone Gold: Bomboré Production Expansion Ahead of Schedule and on Budget
VANCOUVER, British Columbia, Jan. 21, 2025 (GLOBE NEWSWIRE) -- Orezone Gold Corporation (TSX: ORE, OTCQX: ORZCF) (the “Company” or “Orezone”) is pleased to prov
About this update from Orezone Gold Corporation
[{"type":"text","content":" VANCOUVER, British Columbia, Jan. 21, 2025 (GLOBE NEWSWIRE) -- Orezone Gold Corporation (TSX: ORE, OTCQX: ORZCF) (the “Company” or “Orezone”) is pleased to provide an update on its ongoing hard rock expansion at its Bomboré Gold Mine. The hard rock expansion, which is scheduled to commence operations in Q4-2025, is forecasted to increase gold production by approximately 50%, to over 170,000 ounces per year. Expansion progress and milestones achieved to date include: Early mobilization of the concrete contractor 3-months ahead of schedule, providing for multiple weeks of flexibility in the project schedule. Foundations are progressing on multiple fronts, with CIL ring beams and pedestals for the ore bin and trash screen now complete. Foundations for the dump pocket and SAG mill are underway. Engineering is ahead of schedule, with all bulk quantities in line with budget. Procurement is at 82% of total supply value awarded with all long lead equipment ordered. SAG mill major components are en route to site, well ahead of schedule for longest lead items. Structural, Mechanical, and Piping (“SMP”) contract awarded, with contractor mobilization to begin in March. Tailings Storage Facility (“TSF”) expansion earthworks commenced. First batch of contractor’s large-capacity mining fleet now in service, with systematic training ongoing. Preparations for hard rock mining advancing, with construction of the explosives magazine complete. Patrick Downey, President and CEO stated, “Following a strong end to 2024, where we achieved production guidance for a second consecutive year since commissioning the oxide plant, I am pleased to report that the hard rock expansion is progressing ahead of schedule and on budget. This is a testament to the experience and dedication of the Orezone team, who was also responsible for constructing the Bomboré oxide plant on time and under budget. Completion of this first stage of the hard rock expansion will mark a significant milestone at Bomboré, with gold production set to increase approximately 50% from current levels, to over 170,000 ounces per year. With the current strength in the price of gold, the Company continues to evaluate the timing of the Stage II hard rock expansion, which will further increase the gold production profile at Bomboré to 225,000-250,000 ounces per year.” Engineering and Procurement ...