The 2,250-metre, 31-hole program targeted a portion of a 4-km-long gold-in-soil anomaly with a fence of 2-3 holes every 75 metres along the trend. The anomaly covers the folded and altered contact between Tarkwaian sediments and volcanics.
Highlights are as follows:
— Hole 1 returned a 26-metre width (from 40 metres below surface) grading 4 grams gold per tonne;
— Hole 7 surrendered 8 metres (from 16 metres) of 6.4 grams gold;
— Hole 8 contained 18 metres (from surface) grading 5.3 grams gold;
— Hole 19 encountered an 8-metre section (from 38 metres) running 6.8 grams gold;
— Hole 24 yielded 42 metres (from 16 metres) averaging 3.8 grams gold;
— Hole 22 cut 16 metres (from surface) running 5.1 grams gold.
Most of the remaining holes returned between 1 and 5 grams gold over smaller intervals; 17 of the holes failed to return significant results. All the holes were angled at a dip of minus 50.
Orezone says the drilling indicates a gold-mineralized corridor longer than 800 metres, with horizontal widths up to 25 metres. The zone is oxidized to a depth of at least 45 metres, continues along strike below the other trenches, and remains open in all directions.
Previous grab sampling on the anomaly returned up to 13.4 grams gold per tonne, whereas trenching over a 500-metre section yielded up to 18 metres of 2.5 grams gold.
“This was the first round of drilling to test a portion of a 4-km target, and the resulting grades and widths in this system have exceeded our expectations,” says Jeff Ackert, Orezone’s vice-president of exploration.
The company plans further trenching, geological mapping and surface magnetics in anticipation of more drilling in the fourth quarter.
Orezone has an option to earn a 100% interest in Bondi and owns a 100% interest in the two adjoining permits immediately to the north for a total area exceeding 1,000 sq. km.
The Bondi property is contiguous with mineralization at Golden Hill, where Orezone previously intersected 22 metres averaging 11.4 grams gold per tonne on the Peksou zone. The properties are 250 km southwest of the capital, Ouagadougou.
Orezone’s drills are now headed back to the Peksou target.
The results failed to impress investors, who sent shares down 3, or 4.5% of their value, to 64 in late-afternoon trading in Toronto on June 2. The shares trade in a 52-week range of 16-77.
Meanwhile, Orezone reports that drilling 500 km northeast on the Essakan property failed to extend the deposit over a 1.3-km-long section to the southeast. (The company has yet to receive results from drilling carried out 3-4 km farther to the southeast.)
The initial holes returned between 1 and 3 grams gold over widths of 2-47 metres and confirm widths and grades in the main zone to its current southern limit.
Drilling is ongoing on five targets within a 15-km radius of Essakan’s main zone. Each is more than 2 km long and will be drilled 400-500 metres. The targets comprise gold-in-soil anomalies coincident with magnetic and geological features.
South Africa’s
In late April, drilling at Essakan uncovered a northern extension with the same geology and style of mineralization as the Main zone, with similar widths and grades. The 6,600-metre program was highlighted by 39 metres averaging 3.46 grams gold in the northernmost hole.
The northern extension occurs as two sub-parallel, 1-km-long zones. Nine of the 12 holes were drilled on several fences to test the southern 600 metres of the zone. The balance tested separate areas on the northern portion of the deposit.
Essakan hosts an 18.9-million-tonne resource grading 2.14 grams gold per tonne.
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