Orezone Receives Approval of Expanded Mining Permit for Bomboré
July 29 2020 - 5:00PM
Orezone Gold Corporation (TSX.V: ORE OTCQX: ORZCF)
is pleased to announce that Burkina Faso’s National Commission of
Mines has approved the modification of the Bomboré mining permit to
include all aspects of the future Phase II Expansion. This
follows on from the recent environmental (ESIA) approval received
in April 2020 (see Press Release dated April 14, 2020).
The approval encompasses the Phase II mining and
processing of higher-grade fresh rock and lower transition
reserves, and the high-grade P17S deposit, in addition to the Phase
I oxide reserves covered under the original mining permit.
Patrick Downey, President and CEO commented, “We
have now received all major permitting required to execute on the
mine plan in the 2019 feasibility study for the Bomboré Gold
Project. We can now look forward to finalizing project financing
and starting full scale construction in the near future. We would
also like to thank the Government of Burkina Faso and the local
communities for their continued support.”
Orezone Gold Corporation
Orezone Gold Corporation (TSX.V: ORE OTCQX:
ORZCF) is a Canadian development company which owns a 90% interest
in Bomboré, one of the largest undeveloped gold deposits in Burkina
Faso.
The 2019 feasibility study highlights Bomboré as
an attractive shovel-ready gold project with forecasted annual gold
production of 118,000 ounces over a 13+ year mine life at an All-In
Sustaining Cost of US$730/ounce with an after-tax payback period of
2.5 years at an assumed gold price of US$1,300/ounce. Bomboré
is underpinned by a mineral resource base in excess of 5 million
gold ounces and possesses significant exploration potential.
Patrick Downey,President and Chief Executive
Officer
Vanessa PickeringManager, Investor Relations
Tel: 1 778 945 8977 / Toll Free: 1 888 673
0663info@orezone.com /www.orezone.com
Qualified Persons
Dr. Pascal Marquis, Geo., Senior VP Exploration,
and Ian Chang, P. Eng., VP Projects, are the Qualified Persons who
have approved the scientific and technical information in this news
release.
For further information please contact
Orezone at +1 (778) 945-8977 or visit the Company’s website at
www.orezone.com.
Neither TSX Venture Exchange nor its Regulation
Services Provider (as that term is defined in policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Cautionary Note Regarding
Forward-Looking Statements
This press release contains certain information
that may constitute “forward-looking information” under applicable
Canadian securities legislation. Forward-looking information in
this press release relates to statements with respect to the
expanded Bomboré mining permit and the 2019 feasibility study
including project financing, strategic plans, future operations,
future work programs, capital expenditures, and corporate and
technical objectives (including those discussed in the Company’s
press release dated April 14, 2020 and the 2019 feasibility study).
Forward-looking information is necessarily based upon a number of
assumptions that, while considered reasonable, are subject to known
and unknown risks, uncertainties, and other factors which may cause
the actual results and future events to differ materially from
those expressed or implied by such forward-looking information,
including the risks inherent to the recent COVID-19 pandemic, the
mining industry, adverse economic and market developments and the
risks identified in Orezone’s annual information form under the
heading “Risk Factors”. There can be no assurance that such
information will prove to be accurate, as actual results and future
events could differ materially from those anticipated in such
information. Accordingly, readers should not place undue reliance
on forward-looking information. All forward-looking information
contained in this press release is given as of the date hereof and
is based upon the opinions and estimates of management and
information available to management as at the date hereof. The
Company disclaims any intention or obligation to update or revise
any forward-looking information, whether as a result of new
information, future events or otherwise, except as required by
law.
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