Oriole Resources PLC (AIM:ORR) has reported further gold mineralisation from its Mbe gold project, in Cameroon, where the maiden drill campaign is expected to facilitate a new JORC-compliant ‘exploration target’.
"The Mbe maiden drilling programme continues to make good progress,” chief executive Martin Rosser said in a statement.
New results (from drill hole MBDD013) include 2 metres at 3.21 grammes per tonne gold, including 1 metre at 6.03 g/t. Meanwhile, other intersections in the hole included 6.35 metres at 0.52 g/t, including 2 metres at 1.03 g/t.
The hole was drilled at the western edge of the fence line, an area that has also delivered wide gold zones, including 21.3 metres at 1.61 g/t (in hole MBDD012).
Oriole told investors that the Phase 1 drilling programme at the MB01-S target is now over 70% complete. Sixteen holes have been drilled, and the seventeenth is in progress.
Results for holes MBDD014 to MBDD017 are expected in the third quarter.
Also anticipated in the third quarter will be the company’s estimation of the JORC exploration target.
“Now that we have the results for holes MBDD001 to MBDD013, and along with the 2024 trenching programmes' data, our independent consultant can produce a JORC Exploration Target estimation for the MB01 prospect,” Rosser said.
“We anticipate that the estimate will be published in early Q3 and will provide valuable early guidance on the resource potential of the project."
Oriole owns a 90% interest in the Mbe project.