Oriole Resources PLC (AIM:ORR) has reported the highest gold grade to date from its Mbe gold project in Cameroon.
The company, in a statement, said its latest result saw gold grades up to 25.77 grams per tonne.
Thirteen holes have been completed in the fully funded Phase 1 drilling programme at the MB01-S target, with a fourteenth underway.
Oriole Resources expects results for holes MBDD010 to MBDD012 later this quarter.
The company is aiming to estimate a JORC Exploration Target in the third quarter, followed by a maiden ‘pit-contained’ mineral resource estimate in the fourth quarter.
Oriole's chief executive said: "Building on the last announcement of outstanding drilling results, hole MBDD009 is significant as it supports our view that we can expect narrower zones of high-grade gold mineralisation within the wider, lower-grade mineralised envelopes.”
Drilling details
Results from drillhole MBDD009 included 2 metres at 25.77 grams per tonne gold, with a peak interval of 1 metre at 51.3 grams per tonne.
This is the highest grade encountered at the Mbe project to date, Oriole noted.
The hole is located 160 metres west of a previously reported hole that returned 86.50 metres at 1.36 grams per tonne.
The company said the project’s ‘mineralised corridor’ now spans over 400 metres.