Further drilling at Oriole Resources PLC's(LON:ORR) Dalafin project in Eastern Senegal has indicated gold mineralisation at the Medina Bafe target continues at depth.
Oriole has an 85% stake in Dalafin, but Canadian major IAMGOLD is carrying out the exploration and can earn a 70% stake in the project if it spends US$7mln.
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The best intersections were 8m at 2.56 g/t gold and 6m at 1.61 g/t at depths of 47m and 76m.
Tim Livesey, Oriole’s chief executive, said: 'We are encouraged to see positive results from the drilling results received so far for the Madina Bafé area of the Dalafin licence.
"The intersections confirm and extend the known areas of anomalism and as such continue to add to our understanding and confidence in this target area.
"Although the Madina Bafé area is the current focus for IAMGOLD, due to its proximity to their Boto development project to the immediate east, we are also looking forward to future work on the other anomalies in the north of the licence - notably at Faré, where previous work has also shown very promising results."