Oriole Resources PLC (AIM:ORR) is eyeing an upgrade to its resource estimates for the Bibemi gold project in Cameroon after its latest drill results unearthed further significant gold mineralisation.
It said, in a statement, that the ‘Phase 5’ drilling – of which it has so far drilled 5,024 of 7,060 metres - has demonstrated the potential for resource expansion and confirmed the continuation of gold mineralisation along strike and at depth.
Oriole's latest results, a batch of 13 holes at Bakassi Zone 1, included significant high-grade gold intersections.
“Results from Bibemi support our expectation for resource expansion outside of the current wireframes at BZ1-MRE and have confirmed the continuation of gold mineralisation along strike and at depth,” chief executive Martin Rosser said.
“We hope that this will lead to an increase in the existing inferred mineral resource estimate, and potentially a partial upgrade of the resource to measured and/or indicated categories once the programme has been completed."
Drill results in more detail
Highlights included 2 metees at 8.57 grams per tonne (g/t) gold, with 1 metre at 15.90 g/t gold.
Other notable results include 1 metre at 7.01 g/t gold, 1.10 metres at 4.84 g/t gold, and 1 mere at 3.96 g/t gold.
Oriole owns an 82.2% stake in the Bibemi project, alongside partner BCM International (which has ‘earn-in’ rights to acquire up to 40% through project spending).