Oriole Resources PLC (AIM:ORR) has provided updates on drilling activities at its Bibemi and Mbe gold projects in Cameroon.
At Bibemi the company’s Phase 5 diamond drilling programme is advancing, to support an updated resource estimate, whilst at Mbe the maiden drilling is encountering high-grade material in its first four holes.
The hotly anticipated drilling at Mbe “did not disappoint”, chief executive Martin Rosser said, while highlighting the potential at Bibemi to add new ‘near surface’ areas to the resource along with an important upgrade to measured and/or indicated resource categories.
Bibemi drilling
Oriole has now completed around 6,560 metres across 54 holes at the Bakassi Zone 1 prospect, in its fifth phase of drilling.
The recent drilling at the BZ1-SW target returned intersections of 2.9 metres at 1.41 grams per tonne (g/t) gold and 1 metre at 3.78 g/t gold.
Assay results for an additional four holes at the BZ1-MRE zone are pending.
The company noted that it aims to upgrade its existing 375,000-ounce Mineral Resource Estimate (MRE) by reducing drill spacing within the resource model.
The Phase 5 drilling programme is expected to conclude later this quarter.
"We are looking forward to the completion of the current drilling programme at Bibemi and having all results so that the Mineral Resource Estimate model can be updated.
“Given that several intersections in the programme to date fall outside of the current mineralisation wireframes, but within the existing MRE open pit design, we see good scope for additional near surface resource ounces to be defined.
He added: “we anticipate that there will be an important upgrade to the existing MRE to the measured and/or indicated JORC code categories."
Mbe campaign
At Mbe, a maiden diamond drilling programme is underway at the MB01-S target, with 1,391 metres drilled in four holes.
Initial results from two scissor hole pairs include 29.75 metres at 0.82 g/t gold (including 17.3 metres at 1.09 g/t gold) and 26.3 metres at 0.62 g/t gold (including 10.9 metres at 1.02 g/t gold).
The company reported that higher-grade gold mineralisation is occurring within broader envelopes of lower-grade material. Results from a second scissor hole pair are expected later this month.
"The first few holes of any maiden drilling programme are always eagerly awaited and, based on the earlier excellent trenching results, our hopes were high,” Rosser said.
“Hole MBDD002 did not disappoint, delivering a discovery hole with multiple significant gold mineralised intersections over substantial widths.
“Importantly, the purpose of the first scissor hole pair to provide key geological structural information, for optimal intersection of gold mineralisation, has been satisfied.
“Moreover, given the appearance of the core in the second scissor pair of holes, there are further promising signs of mineralisation. In summary, we are pleased with the results reported and the progress made already at this early stage."