Oriole Resources PLC (LON:ORR) said that Thani Stratex Djibouti Ltd, a company in which it has an 11.8% stake, has completed phase one of its drilling programme at the Hesdaba gold project in Djibouti.
Previously reported intersections from Hesdaba have included up to 15 metres grading 4.08 grammes gold per tonne.
At the Assaleyta project, immediately to the east of Hesdaba, construction of a camp, access routes and drill pads is now complete and a phase 2 drilling programme is underway. Initial results from this programme are also expected in the first quarter of 2021.
"We continue to watch the exploration in Djibouti with interest,” said Oriole chief executive Tim Livesey in a statement.
“During 2020 the new management team has been able to progress the key targets despite the early impacts of the COVID-19 pandemic, and we look forward to seeing the results of the latest drilling in due course."
The Hesdaba Permit hosts a series of parallel epithermal vein systems with a combined strike length in excess of 16 kilometres.