Orezone Gold Corporation is a Canadian mining company that is rapidly expanding a 4.5M oz MI&I gold resource (NI 43-101) from its 100% owned gold projects in Burkina Faso, West Africa.
Bomboré (3.5M oz Indicated and Inferred gold resource), is the largest undeveloped gold deposit in Burkina Faso, and is expected to grow by an additional 60% by doubling the average depth of drilling from 60 to 120m with an ongoing $20 million, 120,000m drill program. Located just 85km from the capital city, adjacent to a paved highway, with access to local power and available water, Bomboré has unique and exceptional infrastructure for this part of Africa. A feasibility study for a large tonnage open pit mine will be completed by Q2, 2012, and the company is targeting production of +250,000 oz/year by 2015.
Orezone has a track record of success in Burkina Faso, having developed Essakane, the country’s largest deposit at +6M oz. In addition to arranging a $330 million debt financing, Orezone also obtained all necessary permits and commenced construction, before selling the mine to IAMGold for the benefit of all stakeholders during the difficult markets of 2008.
As well, Orezone Gold, through its 67% interest in Brighton Energy, has made a significant uranium discovery in Niger, one of the largest producers of uranium worldwide. Consistent mineralization occurs on its Zéline 1 exploration permit located 25 km to the north of AREVA’s Arlit mines, which have produced approximately 240 million pounds of uranium oxide (U3O8) since 1971. Brighton has five uranium permits covering an area of approximately 4,000 km² in Niger, $4M in working capital, and is spending $3M on exploration this year.
Corporate Profile on Stockhouse