Orezone Gold Corporation press release
Tan Range Begins Drill Program on Shinyanga Project
TSX - Toronto Stock Exchange · Gold · Silver · Canada
First in a Series with the Company's Own Rig and Drill Crew
VANCOUVER, June 9 /CNW/ - The Company is pleased to announce that drilling has commenced on its 120 square kilometers Shinyanga Property in the southeastern portion of the Lake Victoria Greenstone Belt in Tanzania. Approximately 6,000 metres of rotary drilling is planned, comprising about 300 shallow holes. "Our strategy is to evaluate as much Shinyanga bedrock as possible to determine the lateral extent of the gold values encountered last year by trenching," said the Company's Chairman and CEO, James E. Sinclair. The program should take 3-4 weeks to complete barring any unforeseen circumstances, he said. Four trenches were excavated last September at Shinyanga directly beneath areas defined by anomalous quartz debris samples. The overall Shinyanga gold anomaly is at least 4 kilometres long by 1 kilometre wide and is open to the west where it disappears under overburden. A single trench at Shinyanga intersected an alternating sequence of meta-basalt and meta-diorite with a strong foliation and quartz veining along the contact zones. The quartz veins are typically thin, being less than 20 centimetres, but they contain high grade gold intersections, with selected grab samples carrying up to 65 grams per tonne gold. Re-sampling of the trench, taking true width channel samples along the best zone in the south-facing sidewall, returned the following intersections as reported in our news release of November 10, 2004:
<< Sample Width Gold Grade Rock Type (Channel Sample) (Grams per tonne) Footwall diorite 0.5 m 0.03 Footwall basalt 0.5 m 0.49 Quartz vein 15 cm 10.3 Foliated basalt 30 cm 0.39 Quartz vein 8 cm 10.3 Hanging wall basalt 0.5 m 1.02
The license is situated amongst the scattered greenstone units of the Shinyanga greenstone belt, some 25 kilometres to the north of the Nzega greenstone belt. Principal rock types include meta-basalt with quartz veinlets, banded iron formation (BIF), granite and diabase dykes. Greenstone cover is estimated at 50% with the balance comprising granitic rocks. There are also known kimberlite occurrences within this project area that could be prospective for diamonds. The Company's geological staff confirms that Shinyanga could represent a shear-hosted gold zone that has utilized the diorite/basalt contact zone. "The presence of folding, the fact the gold is not confined to the quartz veining, and the large size of the soil anomaly, is considered to be extremely encouraging," said the Company's President, John Deane. "Shinyanga will be the first test of our new drill rig and crew and the beginning of a broadly based, multi-target exploration effort that is virtually without precedent for a company our size in the Lake Victoria Greenstone Belt," Sinclair emphasized. "Over the past two years we have carefully optimized our land position in Tanzania, acquired new licenses in the LVGB and a major land position in the Kabanga nickel belt, developed new exploration protocols such as biogeochem and purchased a state-of-the-art drilling rig to capitalize on these initiatives." "We expect to have plenty of news to report in the coming months and firmly believe that our huge land position in Tanzania will serve us well in the current bull market in commodities for gold and base metals," said Sinclair.
On Behalf of the Board of Directors
"James E. Sinclair" James E. Sinclair Chairman and Chief Executive Officer
Neither the Toronto Stock Exchange nor American Stock Exchange have reviewed and do not accept responsibility for the adequacy or accuracy of this release
Cautionary Note to U.S. Investors - The United States Securities and Exchange Commission permits U.S. mining companies, in their filings with the SEC, to disclose only those mineral deposits that a company can economically and legally extract or produce. We use certain terms on this news release, such as "measured", "indicated", and "inferred" "resources" that the SEC guidelines strictly prohibit U.S. registered companies from including in their filings with the SEC. U.S. Investors are urged to consider closely the disclosure in our Form 20-F, File No. 0-50634, which may be secured from us, or from the SEC's website at http://www.sec.gov/edgar.shtml.
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