08:00 Tue 21 May 2019
Oriole Resources PLC - Final Results Phase 1 Trenching - Bibemi
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Final Results Phase 1 Trenching
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The results reported today include a best intersection of nine metres ("m") at 3.14 g/t Au, returned from trench BT-021, located towards the northern extent of the central Bakassi zone. Within this is a higher grade interval of 13.12 g/t Au over 2m, which correlates-well with multiple "bonanza" grade rock-chip samples yielded from nearby quartz veins.
At the earlier-stage Wapouzé project, circa 20km to the north, Phase 1 infill soil sampling has recently been completed and results for a 639 soil samples and 123 rock-chip samples are expected later this quarter.
Oriole is a first-mover in
Highlights:
· Final results received for Phase 1 trenching at the
o 9m at 3.14 g/t Au (BT-021)
§ including 2m at 13.12 g/t Au;
o 1m at 4.53 g/t Au (BT-019);
o 16m at 0.50 g/t Au, 2m at 1.27 g/t Au and 2m at 0.84 g/t Au (BT-023);
o 2m at 1.58 g/t Au (BT-015);
o 1m at 2.27 g/t Au (BT-017);
o 2m at 0.92 g/t Au and 1m at 0.56 g/t Au (BT-018);
o 2m at 1.28 g/t Au (BT-022);
o 3m at 0.75 g/t Au (BT-016).
· Selective channel sampling of an individual quartz vein in BT-019 returned 6.64 g/t Au;
· Geological mapping and structural analysis of the quartz veins has identified two main gold-mineralised sets (north-east and northnortheast orientated), both of which are tourmalinised;
· Selective re-opening of historic trenches has delivered a best intersection of 2m at 9.90 g/t Au from former Reservoir Minerals trench T07;
· Initial screen metallics fire assay on coarse rejects has indicated that the presence of coarse gold in the samples is not impacting the total gold content. Further testwork is underway;
· A number of technical studies are underway, including geophysical interpretation of regional data, thin section petrography and x-ray difraction ("XRD") analysis of key lithologies;
· Phase 2 infill trenching at Bibemi has been completed for 3,504m (100m spacing) for 11 trenches, results expected late third quarter 2019;
· At the nearby earlier-stage Wapouzé project, Phase 2 infill soil sampling and rock chip sampling is complete, with results expected during the second quarter of 2019;
· Oriole has met its Year 1 commitment ahead of schedule;
· Oriole plans to acquire further licences to expand its position in
Chief Executive Officer,
"Work continues to improve our understanding of the geological and structural setting of the mineralisation, with studies at the regional, camp and local scale. We are currently undertaking a range of technical studies, including the interpretation of regional airborne geophysical data, structural and geological analysis of recently re-mapped areas and detailed petrographic studies of rock samples from the key lithologies identified during the trenching programmes. This will move us one step closer to designing a targeted drilling programme to test the prospective central Bakassi area - the main focus of our field work to date - during the next dry season, commencing in
"At Wapouzé, we anticipate that the results from the infill soil sampling programme will be received and released before the end of the second quarter. This data will assist us in designing the next programme of work at Wapouzé, which will include detailed geological mapping and trenching over the key anomalous zones (>12km strike identified to date), and will ultimatly lead us to the identification of drill targets.
"These "boots on the ground" geological programmes are very typical of early stage grassroots work, following tried and tested systematic exploration techniques. Where successful, they will ultimately lead to drill-testing of the systems, the first step in resource identification and definition, ultimately aiming to deliver tangible value for Oriole shareholders.
"On the basis of our success to date, we are looking forward to expanding our footprint in
Further details
Further to the initial intersections reported earlier in the year for trenches BT-001 to BT-013 (announcement dated
The results announced today are for trenches BT-014 to BT-022 (orientated N132 degrees), relating to 2,104 samples and for BT-023 (orientated N025) for 279 samples. Analysis of QAQC plots for standard certified reference materials, inserted blanks and duplicates (for 170 and 23 QAQC samples respectively) was completed and found to be within acceptable ranges. Further details on the processing and analytical techniques can be found in the JORC Table 1 disclosure on the Company's website.
Results from the recently recieved batch are shown in Table 1 and include a best intersection of 9m at 3.14 g/t Au including 2m at 13.12 g/t Au (BT-021). Overall, the best results were returned from BT-019 and BT-021, both located towards the northern end of the Bakassi zone, supporting the previous high-grade rock-chip samples in that area of up to 135.40 g/t Au (announcement dated
Table 1. Significant results (>0.10 g/t Au) from trenches BT-014 to BT-022 at Bakassi zone, Bibemi project
Trench ID |
From (m) |
To (m) |
Gold (ppm)* |
Intersection*, ** |
BT-014 |
432 |
434 |
0.17 |
2m @ 0.17 g/t Au |
BT-014 |
456 |
457 |
0.11 |
1m @ 0.11 g/t Au |
BT-014 |
463 |
466 |
0.33 |
3m @ 0.33 g/t Au |
BT-014 |
474 |
476 |
0.21 |
2m @ 0.21 g/t Au |
BT-014 |
480 |
481 |
0.20 |
1m @ 0.2 g/t Au |
BT-015 |
36 |
38 |
0.10 |
2m @ 0.1 g/t Au |
BT-015 |
319 |
320 |
0.12 |
1m @ 0.12 g/t Au |
BT-015 |
372 |
373 |
0.45 |
1m @ 0.45 g/t Au |
BT-015 |
415 |
417 |
1.58 |
2m @ 1.58 g/t Au |
BT-015 |
419 |
421 |
0.10 |
2m @ 0.10 g/t Au |
BT-015 |
443 |
444 |
0.12 |
1m @ 0.12 g/t Au |
BT-016 |
251 |
252 |
0.12 |
1m @ 0.12 g/t Au |
BT-016 |
574 |
577 |
0.75 |
3m @ 0.75 g/t Au |
BT-017 |
23 |
25 |
0.10 |
2m @ 0.10 g/t Au |
BT-017 |
36.5 |
37.5 |
2.27 |
1m @ 2.27 g/t Au |
BT-017 |
66 |
67 |
0.14 |
1m @ 0.14 g/t Au |
BT-017 |
181 |
182 |
0.17 |
1m @ 0.17 g/t Au |
BT-017 |
301 |
302 |
0.18 |
1m @ 0.18 g/t Au |
BT-018 |
209 |
211 |
0.43 |
2m @ 0.43 g/t Au |
BT-018 |
215 |
217 |
0.23 |
2m @ 0.23 g/t Au |
BT-018 |
219 |
221 |
0.92 |
2m @ 0.92 g/t Au |
BT-018 |
241 |
242 |
0.56 |
1m @ 0.56 g/t Au |
BT-018 |
314 |
316 |
0.10 |
2m @ 0.10 g/t Au |
BT-018 |
324 |
325 |
0.25 |
1m @ 0.25 g/t Au |
BT-018 |
399 |
401 |
0.22 |
2m @ 0.22 g/t Au |
BT-019 |
26 |
27 |
4.53 |
1m @ 4.53 g/t Au |
BT-020 |
14 |
16 |
0.10 |
2m @ 0.10 g/t Au |
BT-020 |
20 |
24 |
0.45 |
4m @ 0.45 g/t Au |
BT-020 |
26 |
27 |
0.21 |
1m @ 0.21 g/t Au |
BT-021 |
18 |
27 |
3.14 |
9m @ 3.14g/t Au incl. 2m @ 13.12g/t Au |
BT-021 |
35 |
37 |
0.29 |
2m @ 0.29 g/t Au |
BT-021 |
66 |
69 |
0.44 |
3m @ 0.44 g/t Au |
BT-022 |
155 |
157 |
1.28 |
2m @ 1.28 g/t Au |
*weighted gold grades calculated using a 0.10 g/t Au cut-off and 1m internal dilution. Intervals >0.50 g/t Au shown in bold.
** sample intervals are taken along the length of the trench which is believed to be perpendicular to the strike of the mineralisation, however, true widths are not yet known.
Results have also been received for trench BT-023, which was oriented N025 degrees (almost perpendicular to the other trenches and sub-parallel to the main north-east shear) to investigate the litho-structural controls on grade distribution. Best intersections include 2m at 0.84 g/t Au (from 42m), 6m at 0.35 g/t (from 50m), 2m at 0.61 g/t Au (from 132m), 2m at 1.27 g/t Au (from 282m), and 16m at 0.50 g/t Au (from 317m). Whilst the trench lithology is comparable to the other trenches reported (felsic intrusive with foliation striking N025 to N030 degrees, plus minor meta-sedimentary units), the only significant quartz vein observed was parallel to the trench (and thus the main foliation). Other gold mineralised zones were observed at irregular intervals along the trench, reflecting the complex structural controls of fluid flow and gold precipitation within major shear zones of this nature.
Results were also received for the historic RMC trenches (T01, T04, T07 and T08), that were selectively re-opened to assess the continuity of mineralisation between Oriole's trenches immediately to the north and south. Best results from this work were returned from trenches T07 and T08, including:
· 2m at 9.9 g/t Au (T07);
· 2.25m @ 1.13 g/t Au, 3m at 0.49 g/t Au and 2m at 2.46 g/t Au (T08).
Whilst T08 shows a reasonable correlation with the previously reported high-grade zones, it is observed that all four trenches from the original 2013 Reservoir Minerals programme were not deep enough to avoid potential contamination from transported cover rocks. We believe that this issue was addressed for subsequent programmes by Reservoir but a more detailed assessment is underway.
In March, Oriole highlighted a repeatability issue likely due to the presence of coarse 'nugget' gold, typical of gold-bearing quartz-vein systems (announcement dated
Detailed geological mapping and structural analysis of the entire vein population to date has shown that four sets are present. Two of these, trending north-east and north-northeast, are mineralised and fractured, sometimes brecciated. The other two vein sets, also trending north-east and north-northeast are barren. Interrogation of the dataset is still ongoing, however this initial review has highlighted the presence of a cross-cutting east-northeast (N070) fabric in some of the mineralised veins which may be indicative of an overprinting event. Delineation of zones of structural intersection will continue to be a key focus for review by the team between now and the start of the next field season in October.
This review will be supported by the interpretation of geophysical data (magnetics and radiometrics), which also covers the Wapouzé licence. Over the next few weeks the Company will also be undertaking thin section petrography and XRD analysis for rock samples from both properties and all the data will form part of a technical review session in July.
Meanwhile, the Phase 2 infill trenching programme Bibemi (infilling to 100m spacing) has now been completed for 11 trenches totalling 3,504m. The samples will be submitted for analysis once the above review has been completed over the summer. Consequently, the results for this detailed infill trenching programme are anticipated late in the third quarter of 2019.
Finally, at the Wapouzé project, approximately 20km to the north-east of Bibemi, systematic Phase 2 infill soil sampling (200m x 100m grid) has been completed over three key anomalies in the previously identified Bataol zone. A total of 639 soil samples and 123 rock chip samples were collected during the programme and results are anticipated later in the second quarter of 2019.
Oriole has now met its Year 1 expenditure and work commitment under the terms of an Option Agreement with local partner BEIG3. Oriole is a first-mover in
For further information, including maps and a JORC Table 1 please see the Bibemi and Wapouzé page of the Company's website https://orioleresources.com/projects/bibemi-and-wapouze/.
Deal Terms
In
Competent Persons Statement
The information in this release that relates to Exploration Results has been compiled, and is based on information reviewed on behalf of the Company, by
** ENDS **
For further information please visit www.orioleresources.com, @OrioleResources on Twitter, or contact:
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Tel: +44 (0)20 7830 9650 |
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Tel: +44 (0)20 7138 3204 |
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Tel: +44 (0)20 7383 5100 |
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