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VANCOUVER, British Columbia, December 01, 2022 (GLOBE NEWSWIRE) — Orezone Gold Corporation (TSX: ORE, OTCKKS: ORZCF) (“Orezone”) is pleased to announce that the Bombore Gold Mine (“Bombore”) has reached commercial production as of December 1, 2022.
Orezone has declared commercial production at Bombore based on the achievement of 30 consecutive days of mill throughput exceeding 70% of rated capacity on the plate at 14,250 tonnes per day (“tpd”) and recovery reaching the design level of 90%. During November 2022, the mill processed 364,123 tonnes of ore (12,137 tpd) with a recovery rate of 91%.
Patrick Downey, President and CEO commented: “Commercial production at Bombore is a significant milestone and transforms the company into manufacturer status. Congratulations to the Bombora team for an excellent performance in achieving this goal. With our power issues now firmly behind us, we are focused on optimizing plant performance and continually increasing throughput and availability with the goal of exceeding design capacity.”
Management plans to provide annual guidance for Bombore in January 2023.
About Orezone Gold Corporation
Orezone Gold Corporation (TSX: ORE OTCKKS: ORZCF) is a Canadian mining company that operates the Bombora open pit gold mine in Burkina Faso.
Orezone focuses on the mining and processing of Phase I oxides that are freely mined near the surface with a planned annual throughput of 5.2 million tonnes. The Company believes that Bombore has a significant sulfide resource that supports a significantly larger Phase II expansion. A 77,000m infill and expansion drilling program is underway and once completed, the Company plans to issue an updated mineral resource and reserve statement and feasibility study as part of this Phase II expansion. The studies are expected to be completed in the first half of 2023, after which a decision on production will be made.
Orezone is led by an experienced team focused on social responsibility and sustainability with a proven track record in project construction and operations, financing, capital markets and M&A.
The Technical Report for the 2019 Bombore Project Feasibility Study titled NI 43-101 Technical Report (Amended) Bombore Gold Project Feasibility Study is available on SEDAR under the Company’s profile at www.Sedar.com.
For further information please contact:
Patrick Downey
President and Chief Executive Officer
Vanessa Pickering
Investor Relations Manager
Tel: 1 778 945 8977 / Toll free: 1 888 673 0663
info@orezone.com / www.orezone.com
The Toronto Stock Exchange neither endorses nor endorses the information contained in this release.
Note Regarding Forward-Looking Statements
This press release contains certain information that may constitute “forward-looking information” within the meaning of applicable Canadian securities laws and “forward-looking statements” within the meaning of applicable U.S. securities laws (collectively, the “Forward-Looking Statements”). Forward-looking statements are often characterized by words such as “plan”, “expect”, “project”, “intend”, “believe”, “anticipate”, “estimate”, “potential”, “possible” and others similar words , or statements that certain events or conditions “may”, “will”, “could” or “should” happen.
All such forward-looking statements are based on certain assumptions and analyzes made by management in light of their experience and perception of historical trends, current conditions and expected future developments, as well as other factors that management and qualified persons consider appropriate under the circumstances. .
All forward-looking statements are subject to various risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking statements, including, but not limited to, delays caused by the COVID-19 pandemic, terrorist or other violent attacks, failure of contractual parties to comply with contractual obligations, unexpected changes in laws, rules or regulations, or their enforcement by competent authorities; failure of the contracting parties to perform the agreed; social or labor unrest; changes in the prices of goods; unexpected failure or inadequacy of infrastructure, the possibility of project cost overruns or unforeseen costs and expenses, accidents and equipment failures, political risk, unexpected changes in key management personnel and general economic, market or business conditions, failure of exploration programs, including drilling programs, to delivered expected results and failure of current and uncertainties regarding the availability and cost of financing needed in the future, as well as other factors described in the Company’s most recent annual information form and management’s discussion and analysis on SEDAR at www.sedar.com. Readers are cautioned not to place undue reliance on forward-looking statements.
Although the forward-looking statements contained in this press release are based on what the Company’s management believes to be reasonable assumptions, the Company cannot assure investors that actual results will be consistent with these forward-looking statements. These forward-looking statements are made as of the date of this press release and are expressly qualified in their entirety by this cautionary statement. Subject to applicable securities laws, the Company undertakes no obligation to update or revise the forward-looking statements contained herein to reflect events or circumstances occurring after the date of this press release.
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