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Oriole Resources shines as it hits ‘bonanza’ grades at Bibemi project

The firm said the results from a sampling of 454 rock chips had returned 16 samples containing over 10 grams per tonne of Gold
Gold nuggets
The best results included samples containing 135.4 grams per tonne of Gold

Oriole Resources PLC (LON:ORR) shares soared in early trading Tuesday after it hit ‘bonanza’ gold grades at its Bibemi project in Cameroon following the results from a rock-chip sampling programme.

The AIM-listed firm said the results from a sampling of 454 rock chips from predominantly quartz and quartz-tourmaline veins had returned 16 samples containing over 10 grams per tonne (g/t) of Gold (Au), with 43 samples assayed containing over 1 g/t Au.

READ: Oriole Resources starts early exploration of Cameroon prospects

The best results included samples containing 135.4 g/t Au, 119.7 g/t Au, 117.2 g/t Au, and 107.2 g/t Au.

Oriole added that north-east trending high-grade mineralisation at Zone 1 of the project had been confirmed over a 4-kilometre strike, as well as a confirmation of Zone 2 to the East with assays of up to 35.9 g/t Au.

Current Phase 1 trenching would also be increased by four trenches to cover a total of 2,000 metres.

Tim Livesey, chief executive of Oriole, said the project had delivered “high-grade results from what is an initial phase of ground-truthing”, adding that the extended trenching programme would “tighten up” targeting for a drilling programme planned in 2019.

Oriole has an option to earn up to a 90% interest in the Bibemi project, which is located in the highly prospective neoproterozoic Pan-African greenstone belts in north-eastern Cameroon.

Shares were up 23.8% at 0.41p.

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