Oriole Resources plc reported an increased inaugural JORC inferred mineral resource estimate to 1.23 million oz contained gold for the Mbe orogenic gold project in Cameroon.
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The figure, from independent consultants Forge International Ltd, is for the MB01-N and MB01-S deposits combined.
The pit constrained inferred MRE for MB01-N is of 10.5 million tonnes at a grade of 1.05g/t for 360,000oz contained gold.
Oriole said that the MRE extended over a strike length of approximately 723 metres, a width of up to 125m, a maximum vertical depth of 270m.
MB01-S, which has an existing inferred resource of 870,000oz, is located 700m to the southwest of MB01-N.
The company added that both deposits remained open in all directions with further potential “satellite” targets within the wider licence area.
At the end of March, operator BCM International Ltd began 2,500m step out diamond drilling for ten holes at MB01-S, which is designed to expand the existing inferred MRE.
Results are expected later this year.
“The company believes there is excellent potential to increase significantly the size of the cumulative resource across the project,” added Oriole.
Chief executive officer Martin Rosser said: “For any gold exploration project reporting a more than 1 million oz contained gold deposit is a major achievement and Mbe continues to build upon its status as not only Cameroon’s leading gold project, with highly encouraging potential to become a significant open pit gold mine but is also of a size that already bears favourable comparison with other major discoveries in Africa and the rest of the world.”
Oriole has a 50-50 ownership of the project with earn-in partner BCM.