Oriole Resources plc has published a JORC inferred mineral reserves estimate of 1.66 million oz contained gold, with a mean grade of 1.02g/t, for the combined MB01-S and MB01-N deposits at Mbe in Cameroon.
EXTENSIONS
The figures follow completion during June of “a relatively modest amount of drilling” of 10 step-out holes for 2,476.80m.
Consultant Forge International Ltd’s figure includes an inferred MRE for MB01-S of 40.1Mt with a mean grade of 1.01g/t for 1.3m oz contained gold, equal to an approximate 50% increase to the inaugural figure.
“The MRE now extends over a strike length of approximately 1,200m, a width of up to 730m, a maximum vertical depth of 287m and remains open laterally and at depth,” said Oriole.
The company and its 50-50 partner and operator BCM International is preparing the next phase of work for the orogenic gold project, which Oriole believes has a “multi-million-ounce potential”.
Chief executive officer Martin Rosser added: “Not only is this a great outcome for Mbe but now for all of Oriole’s gold projects combined, the company has an attributable MRE total contained gold amount of 1.11Moz, comfortably over the 1Moz major milestone.
“We are greatly looking forward to undertaking further exploration and evaluation at Mbe and enhancing our conceptual thinking on potential mine development.”