Oriole Resources plc has identified 33 to 44 million tonnes, at 0.77 to 0.95g/t gold, for 0.82 to 1.34m ounces contained gold in its inaugural JORC exploration target for the Mbe orogenic gold project in Cameroon.
MODEL
Independent consultant Forge International Ltd extends the target, which is open in all directions and at depth, over the MB01-N and MB01-S targets.
The figures are based on assays from the first 13 holes out of a planned 24-hole programme at MB01-S and 2024 trenching data across both targets.
Results from final drill holes are pending while drilling at MB01-S is due to complete this quarter.
Oriole said that the model was limited to 200m depth below surface and used a lower cut-off grade of 0.30g/t gold.
The company expects to publish an independent consultant’s inaugural, pit-constrained mineral resource estimate during the final quarter of this year.
Oriole owns 90% of Mbe which is one of five licences comprising the Eastern Central Licence Package block.
BCM International Ltd holds 10% and is earning up to a 50% interest in Mbe in return for a US$1 million signature payment, $4m exploration expenditure and resource success payments.