Oriole Resources PLC (AIM:ORR) told investors it has completed the Phase 5 drilling programme at the Bibemi gold project in Cameroon.
It covered 6,900 metres across 56 drill holes, targeting the Bakassi Zone 1 prospect.
This round of drilling is expected to enable an expansion and upgrade of resources, with new estimates anticipated in the second quarter – for context, the current resource sees 375,000 ounces of contained gold.
"With the completion of Phase 5 drilling at Bibemi, which returned more encouraging gold intersections, we can now look forward to an updated independent consultant's mineral resource estimate, with scope to expand and partially upgrade it to the Measured and/or Indicated JORC Code categories,” chief executive Martin Rosser said in a statement.
“Moreover, with the completion of important technical and other requisite studies, we expect to be able to advance significantly the Exploitation Licence Application lodged with the Cameroon Mines Ministry."
Drill results in detail
Results from the final seven drill holes in the programme confirmed continued gold mineralization within the existing Mineral Resource Estimate (MRE) pit shell.
Significant intersections include 1.00 metre at 15.11 grams per tonne (g/t) gold from 61.30 metres (BBDD104) and 2.20 metres at 8.11 g/t gold from 122.90 metres (BBDD109).