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Oriole Resources PLC

Oriole Resources' area of gold interest at Madina Bafe has expanded to 16 sq km

Drilling has now stopped for the wet season and will resume in October when IAMGOLD will undertake 4,000m of reverse circulation drilling at Madina Bafé on the best prospects. Exploration will also start at Saroudia, 2 km to the north-west, which will also be followed by reverse circulation. 

Oriole Resources PLC -
Oriole, drilling, Senegal, mining, Africa

Oriole Resources PLC's  (LON:ORR) area of interest at the Medina Bafe target has expanded to 16 sq km after more indications of gold were found by IAMGOLD, its partner on the project in Senegal.

IAMGOLD has completed 4,167m metres of a planned 5,000m shallow drilling programme and this has identified multiple anomalies of greater than 20 ppb gold (0.02g/t) as well as a new area several kilometres to the north.

The best grade to date is 235 parts per billion (0.235g/t) gold.

Drilling has now stopped for the wet season and will resume in October when IAMGOLD will undertake 4,000m of reverse circulation drilling at Madina Bafé on the best prospects.

Exploration will also start at Saroudia, 2 km to the north-west, which will also be followed by reverse circulation. 

IAMGOLD can take a 70% stake in the prospect by spending US$8mln. 

Tim Livesey, Oriole Resources chief executive said: "The identification of yet more gold targets has expanded our area of interest in the south of Madina Bafé to a substantial 16 sq km.

"The identification of a further 2km long anomaly several kilometres north of this leaves us convinced of the more prospective nature of our Dalafin licence within this highly endowed geological terrane.” 

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Full interview: Oriole Resources expands area of interest in Senegal after...

Oriole Resources PLC's  (LON:ORR) Tim Livesey tells Proactive London's Andrew Scott the area of interest at the Medina Bafe target has expanded to 16 sq km after more indications of gold were found by IAMGOLD, its partner on the project in Senegal. IAMGOLD has completed 4,167m metres of...

2 weeks, 3 days ago

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