Orezone Gold (ORE.TO), down 5% on last look, said Tuesday that the most recent drill results from Casa Berardi mine in Quebec highlight the mine's significant and untapped exploration upside.
Highlights include 6.47 grams per tonne (g/t) gold over 21.5m (CBF-160-233), including 8.94 g/t gold over 12.7m and 7.20 g/t gold over 14.9m (CBF-134-125) including 16.18 g/t gold over 3.4m, a statement noted.
The results, from the near-surface F160 and F134 zones, will support planned pit expansions, and also illustrate the down-plunge continuity of high-grade mineralization in each zone, said chief executive Patrick Downey. In addition to ramping-up underground exploration drilling at Casa Berardi, surface drilling of the F160 and F134 zones will remain ongoing, he added.
"Overall, we are incredibly encouraged by these initial drill results at Casa Berardi, and look forward to providing regular exploration updates as we incrementally ramp-up exploration to a sustained 80,000-100,000m/yr," Downey said.
Orezone Gold share price was last seen down $0.12, to $2.24 on the Toronto Stock Exchange.
Price: $2.24, Change: $-0.12, Percent Change: -5.08%