MINING REFINING

Orezone produces 30,726 ounces of gold at Bomboré in Q3, reiterates 2023 guidance

Thu Oct 05 2023

Africa-focused gold miner Orezone (TSX: ORE) (OTCQX: ORZCF) announced on Thursday that its Bomboré gold mine, located in Burkina Faso, produced 30,726 oz of gold in Q3 2023, totalling 107,509 oz year-to-date.

Orezone said that production in Q3 “exceeded” its expectations, with “higher than budgeted” mining and processing rates achieved during the rainy season, adding that the company remains well-positioned to meet the lower end of its 2023 guidance of 140,000-155,000 oz.

Importantly, the company said that the impact of historical artisanal mining on ore grades realized in H1 was localized, and during Q3 was only observed in the month of July.

“For August and September there was minimal impact, with monthly production averaging 11,289 oz as pit depths are now below that of the affected artisanal horizon,” it added.

Orezone Gold is a Canadian mining company operating the open pit Bomboré gold mine in Burkina Faso. Bomboré achieved commercial production on December 1, 2022.

Orezone is focusing on mining and processing the Phase I near surface free-dig oxides at a planned annual throughput of 5.7 million tonnes. The company said it believes that Bomboré has a significant underlying hard rock resource to support a substantially larger Phase II expansion.

The company expects to release the results of the Bomboré Phase II Expansion and Updated Life-of-Mine study during the week of October 8th.

Source: https://www.kitco.com