Oriole Resources PLC (AIM:ORR) said it is making good headway with the latest drilling at the Bibemi gold project in Cameroon with ten holes completed out of a scheduled 62.
Partner BCM International is funding the programme, which comprises 7,060m targeting the Bakassi Zone 1.
Martin Rosser, chief executive, said: "The drilling at Bibemi is making good progress and we continue to investigate opportunities to accelerate the programme.
"The drill cores from the initial vertical holes look promising and we are looking forward to reporting the results in due course.
“These results will feed into our ongoing technical and economic studies as part of the ELA process with the government."
BCM can spend up to US$4 million in exploration expenditure in return for up to a 50% interest in the Bibemi project.