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Oriole Resources hails "very encouraging" Cameroon gold results

While the trench work at Bibemi is still at a very early stage, it appears to confirm several suppositions about the area

man by a trench
Among the more eye-catching returns was six metres at just over three grams per tonne of the yellow metal with individual veins measuring up to 13.7 grams per tonne

Oriole Resources PLC (LON:ORR) said a trench programme at one of its Cameroon gold assets had returned what it described as “very encouraging” results.

At the Bibemi project, geologists found orogenic-style gold mineralisation, which is formed when the earth’s crust folds.

READ: Oriole Resources offers considerable upside in West African gold exploration

Among the more eye-catching returns was six metres at just over three grams per tonne of the yellow metal with individual veins measuring up to 13.7 grams per tonne.

Though the higher-grading intercepts appeared at first glance to be rather sporadic, they do follow the previously-mapped trends and confirm the early model of shear-related vein mineralisation, said Oriole chief executive Tim Livesey.

“When one considers the scale of the area and the average 200m-spacing between trenches, the results to date suggest the presence of multiple mineralised ore shoots within what is a major 600m-wide structural corridor,” he added.

Infill work at Bibemi over 4,360 metres is expected to begin in the second quarter.

The trench programme followed on from rock-chip sampling, which found high-grade gold along with a four-kilometre strike.

Some 20 kilometres away at the Wapouzé deposit, Oriole’s team took 2,119 soil samples and 146 rocks to complete this earlier-stage assessment of the asset.

The work being carried out by Oriole in Cameroon is part of an earn-in programme, which will give the company a 90% share of both Bibemi and Wapouzé.

Quick facts: Oriole Resources PLC

Price: 0.43 GBX

Market: LSE
Market Cap: £3.02 m

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Full interview: Operational highlights from Oriole

Oriole Resources PLC's  (LON:ORR) CEO Tim Livesey and CFO Bob Smeeton join Proactive London from Glasgow's geographical conference to update investors on their interim results. Updates here too from sites in Turkey, Cameroon and Senegal with Smeeton outlining how cost saving measures he...

on 29/8/19


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