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Oriole Resources expands exploration activities in Cameroon with application over 3,500 square kilometres of ground

The company expects the new licences to be in place by 2020

Oriole Resources PLC -
Cameroon is emerging as a major focus for Oriole

Oriole Resources PLC (LON:ORR) is expanding its footprint in Cameroon, following early success at the Bibemi and Wapouzé gold projects where it is earning up to a 90% interest.

The company has formed a new local subsidiary, Oriole Cameroon SARL, and has submitted applications for a district-scale land package in the centre of the country.

The total amount under application comes to around 3,500 square kilometres.

"As we indicated back in May, our success to date in Cameroon has given us the confidence to build on our existing footprint in the country to capitalise on our position as first movers in this new frontier for gold exploration,” said chief executive Tim Livesey.  

"During our technical review meetings in July, the team identified and ranked seven key areas within Cameroon where we felt the geological potential merited us staking new licences.  We have now submitted eight new licence applications covering a district-scale land package in our highest ranked areas.”

Quick facts: Oriole Resources PLC

Price: 0.305 GBX

LSE:ORR
Market: LSE
Market Cap: £2.14 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

2 min read