Orezone cuts more gold at Sega (May 23, 2005)

Orezone Resources (OZN-T) has intersected significant gold in the RZ structure on its Sega permit, 200 km north of Ouagadougou in northwestern Burkina Faso.

Four diamond drill holes tested the central zone, two of which cut multiple gold zones 4-24 metres wide. The highest grade was 15.2 grams gold over 18 metres. Another intercept graded 13.3 grams gold over 10.5 metres.

Reverse-circulation (RC) drilling tested four high-grade zones in the RZ structure. Two holes in the Central zone intersected grades as high as 11 grams gold per tonne over a width of 16 metres, plus 13 grams gold over 6 metres. Another hole in the same zone returned 49 grams gold over 3 metres. Ten holes cut 1.2-8.9 grams gold over widths of 3-92 metres.

In the East zone, one hole graded 8.2 grams gold over 11 metres, while six others cut 0.8-3.3 grams gold over 11-28 metres.

A total of nine holes in the South and West zones cut 0.8-5.6 grams gold over 6-16 metres.

Each hole was sampled, at the least, at 1-metre intervals down-hole.

Three known zones are in a 2.5 sq.-km area characterized by intense sericite alteration cut by stockwork quartz veins. The RZ structure has a strike length of at least 1.2 km.

Orezone holds a 100% interest in the Sega project, subject to a 3% net smelter royalty payable to Iamgold (IMG-T).

The company is going to begin base-line environmental studies and metallurgical testing at Sega. The results will be incorporated into a scoping study.

Exploration is booming in West Africa: Orezone routinely has to wait up to 20 days for core assay results and up to 45 days for RC sample results. To alleviate the wait, two new labs are being set up.

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