Oriole Resources plc reported further gold mineralisation from the inaugural drilling programme at its 90% owned Mbe orogenic gold project in the Adamawa region of Cameroon.
OPEN PIT
Earn-in partner BCM International Ltd has acquired an initial 10% interest in Mbe with a further 40% on a $4 million spend on exploration.
The phase I campaign at the MB01-S target is around 44% complete for a total 2,895.10 metres, with nine holes drilled and a tenth in progress.
Returns from holes two holes showed a further 30 gold mineralised intersections.
Results included 23.10m at 0.71g/t gold from 76.00m, including 7.20m at 1.02g/t gold and 2.00m at 2.48g/t silver.
“The system is confirmed to a depth of approximately 150m from surface on this drill fence line,” said Oriole.
“The results continue to demonstrate wide zones of bulk-tonnage gold mineralisation, which should be open pit mineable, related to sulphide-rich quartz veins, veinlets and breccias that have developed predominantly within quartz-feldspar porphyry units.”
Further results are expected later this quarter.
The company aims to complete the programme during Q3 2025 and to publish an inaugural pit-contained mineral resource estimate in the second half of the year.
Chief executive officer Martin Rosser added: “The latest Mbe drilling results continue to return significant widths of gold mineralisation.
“As we continue to build the 3-D picture of the geology and gold mineralisation, it supports our opinion that there could be a substantial volume of material delineated that is potentially amenable to a large-scale open pit mining method.”
The 312km2 Mbe licence is one of five within Oriole’s district-scale Eastern Central Licence Package.