Orezone expands in West Africa

Junior Orezone Resources (ORZ-T) will explore the Ghanaian gold properties of Australian-based Dominion Mining.

Orezone can earn a half-interest in the properties by spending US$2.5 million over four years. The remaining half can be acquired in exchange for 20-35% of the company’s issued and outstanding shares.

Preliminary drilling will follow-up high-grade shoots on the Homasi property, where Dominion outlined 5.7 million tonnes averaging 2.2 grams gold per tonne. The deposit, which is close to the surface, is considered a product of a fault zone extending northeast from the Obuasi gold mine of Ashanti Goldfields (ASL-N).

The deal has yet to be approved by regulators.

Meanwhile, across the Burkina Faso border, Orezone and Australian-listed Delta Gold are following up a high-grade discovery at their jointly held Intiedougou property. A reverse-circulation hole yielded 19.1 grams gold over 10 metres.