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Oriole Resources updates on ongoing work across its African gold exploration portfolio

Oriole has a joint venture with IAMGOLD, a stake in Thani Stratex, and owns several projects outright

Oriole Resources PLC -

Oriole Resources PLC (LON:ORR) has updated investors on the current work programmes on its West African projects during the first quarter of 2021.

In Senegal, IAMGOLD has completed its 10,000-metre air core drilling programme at the Senala project as scheduled. As per previous guidance, it is anticipated that these results will be available during the first quarter of this year. The drilling is intended to define the geochemical footprint of the gold mineralisation at the Faré prospect, where historical drilling has returned best results of 20 metres grading 31.13 grammes per tonne gold.

Subject to the results of the drilling programme, IAMGOLD has planned a further 5,000 metres follow-up reverse circulation drilling and has also planned 1,000 metres of diamond drilling to test mineralised intervals previously identified. IAMGOLD is currently in Year Three of its earn-in to an initial 51% interest in Senala and, under the terms of the option agreement, must have spent a further US$1 million by the end of February 2021 to keep the option in good standing.

In Cameroon, Oriole anticipates first results from its maiden diamond drilling programme at the Bibemi project later this quarter and into the second quarter. The total planned programme now stands at 28 holes for 3,080 metres.

At Wapouzé, pilot trenching is underway to test key gold-in-soil anomalies identified from previous soil sampling campaigns. Sampling and detailed mapping are being undertaken to help understand the spatial-temporal relation between lithologies, alteration and structures. Subject to results, it is possible that the drill rig could be moved to test targets at Wapouzé following the programme at Bibemi.

Oriole is also awaiting the approval of eight new licences in central Cameroon, which cover a contiguous land package of around 3,500 square kilometres within highly prospective terrane for gold mineralisation.

In Djibouti, Thani Stratex Djibouti, in which Oriole has an 11.80% interest, completed its Phase 1 programme at the Hesdaba project for 2,242 metres of diamond drilling in 17 holes and 3,413 metres of RC drilling in 33 holes. The final results for this programme, as well as from TSD's ongoing RC and diamond drilling programmes at the nearby Assaleyta project, are expected during the first quarter.

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