Oriole Resources PLC (LON:ORR) has initiated a 10,000 metre air core drilling campaign at the Faré target on its Senala project in Senegal, where joint venture partner IAMGOLD Corporation has the option to spend up to US$8mln to earn a 70% interest.
"We are delighted to see the start of drilling at the Faré prospect, in the north of the Senala licence," Oriole chief executive Tim Livesey said in a statement.
“IAMGOLD has mobilised as quickly as possible, despite the restrictions imposed by the Covid-19 pandemic, and is now carrying out their planned 10,000 m AC drill programme which marks its third year of investment with Oriole,” he added.
Livesey highlighted strong historic intercepts at Faré, including seven metres grading 86.39 grams per tonne.
"The footprint of gold anomalism extends in excess of six kilometres in the main trend, with several potential additional offsets of mineralisation identified by previous soil sampling programmes. Recent success by Chesser Resources on its Diamba Sud prospect just 10 kilometres east, combined with historical drilling at Faré, confirms the prospectivity of the area and the potential for the discovery and development of a stand-alone mining project,” he added.