Oriole Resources Reports Positive Gold Intersections from Cameroon Drilling

Oriole Resources has completed its phase five drilling program at the Bibemi gold project in Cameroon, showing promising results that could expand the existing mineral resource estimate. The program, facilitated by BCM International’s funding, underscores a strategic partnership aimed at advancing exploration efforts and development. An updated MRE is anticipated in the near future, reflecting the positive mineralisation results.

Oriole Resources, a gold exploration firm active in West and Central Africa, has concluded its phase five drilling program at the Bibemi gold project in Cameroon, producing positive results indicative of potential expansion and enhancement of the existing mineral resource estimate (MRE). The comprehensive program comprised 56 holes and approximately 6,900 meters of drilling, which was fully financed by BCM International. In doing so, BCM is entitled to earn a significant interest in the project through its investment of up to $4 million.

CEO Martin Rosser expressed optimism regarding the program’s outcomes, stating that the encouraging gold intersections would lead to an updated mineral resource estimate. The forthcoming estimate may include an upgrade to the Measured and/or Indicated categories as per the JORC Code. Furthermore, completed technical assessments may expedite the exploitation licence application process with the Cameroon Mines Ministry.

An independent structural review by SEMS Exploration Services is currently underway to refine the geological model, aiding in the MRE update expected from Forge International by the second quarter of 2025. Alongside drilling, Oriole Resources has submitted an updated environmental and social impact assessment report and is finalizing advanced metallurgical testing to establish an optimal mineral processing flow sheet for the exploitation licence application.

Phase five drilling strategically targeted three sub-prospects within Bakassi Zone 1, aiming to reduce the fence line spacing to approximately 50 meters above the primary pit design. The final seven drill holes at the BZ1-MRE target returned all mineralised intervals, totaling 49 intervals with a lower cut-off grade of 0.20 grams per tonne (g/t) of gold. The Bibemi project, covering 177 square kilometers, has exhibited shear-hosted gold mineralisation across four significant prospects. Prior exploration phases emphasized Bakassi Zone 1, which reported an MRE of 5.1 million tonnes grading 2.30g/t of gold, equivalent to around 375,000 ounces, in January 2024.

Additionally, in January 2024, Oriole Resources entered into a definitive earn-in agreement with BCM International for the Mbe gold project in Cameroon, expanding on their previous partnership regarding the Bibemi gold license and progressing Mbe’s development.

In summary, Oriole Resources has made significant advances at its Bibemi gold project, with successful phase five drilling affirming the potential for resource expansion. The partnership with BCM International is expected to enhance further development, and ongoing geological assessments will likely result in an updated MRE. These advancements serve to bolster Oriole’s position in the gold exploration sector within Cameroon.

Original Source: www.mining-technology.com