Orezone extends Bondi

Reverse-circulation drilling by Orezone Resources (ORZ-T) has extended the Main zone at the Bondi project in Burkina Faso by about 1,300 metres to at least 2.1 km.

Drilling at the southern end of the zone was highlighted by hole 76, which returned 19 metres (beginning 79 metres below surface) grading 2.1 grams gold per tonne. Hole 72 cut 23 metres (from 16 metres) running 1.7 grams gold.

Results from other nearby holes include the following:

— Hole 71 — 3 metres (from 25 metres) grading 0.8 gram gold and 2 metres (from 35 metres) averaging 1.5 grams;

— Hole 73 — 19 metres (from 24 metres) grading 0.8 gram gold and 2 metres (from 72 metres) grading 2.6 grams;

— Hole 74 — 13 metres (from 34 metres) grading 1.2 grams gold, 20 metres (from 50 metres) of 0.9 gram, and 6 metres (from 79 metres) of 0.9 gram;

— Hole 75 — 2 metres (from 69 metres) grading 1.3 grams gold.

The holes targeted an area south of a 900-metre-long swampy area. Soil sampling farther south also returned positive results.

Meanwhile, drilling on the Main zone, north of the swamp, was highlighted by hole 77, which encountered an 80-metre (from surface) interval averaging 2.9 grams gold per tonne. The hole tested the continuity and depth of the zone, which remains open at depth as the hole ended in mineralization. The hole also indicates that oxidized ore persists to a depth of 53 metres.

An initial phase of shallow reverse-circulation (RC) drilling in the area returned up to 11 metres grading 6.1 grams gold (T.N.M., Jan. 5-11/04). Those angled holes tested the zone between 10 and 40 metres below surface.

Orezone believes the mineralization encountered on either side of the swamp represents a single 2.1-km-long zone. The swampy gap and southern extension will be tested during the current program. Drilling will also target several parallel structures with geology and soil geochemistry similar to the Main zone.

“We are so encouraged by results that we have significantly increased our budget in order to bring the project to a prefeasibility stage as quickly as possible,” says Orezone CEO Ronald Little.

The latest holes are among 74 planned holes, which will constitute 6,100 metres of RC drilling and 3,500 metres of diamond drilling. The company will spend up to US$1 million to determine the depth of the Main zone, and RC drilling will test near-surface extensions of the Main zone and parallel structures. Drilling will likely wrap up in July.

Since discovering significant gold mineralization at Bondi last June, the company has sunk some 6,210 metres in 92 holes. An initial resource calculation is expected by quarter’s end.

Meanwhile, Orezone has been granted exploration rights for the Poyo permit, immediately south. The 250-sq.-km property brings Orezone’s landholding in the area to more than 1,000 sq. km. Plans at Poyo consist of mapping, soil sampling, and trenching over the next several months, with drilling expected to follow.