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Oriole Resources reports initial results from Phase 2 Assaleyta exploration programme

Final gold assay results are anticipated in the second half of 2021

Oriole Resources PLC - Oriole Resources reports initial results from Phase 2 exploration programme at Assaleyta project

Oriole Resources PLC (LON:ORR) reported initial results from the Phase 2 exploration programme at the Assaleyta project in Djibouti.

Best results from reverse circulation drilling include 16-metre grading 1.08 grammes per tonne of gold from 12 metres and 5 metres grading 8.97 grammes per tonne of gold from 110 metres including 1 metre grading 43 grammes per tonne of gold.

READ: Oriole Resources says gold confirmed at all four prospects at Bibemi project

A total of 1,106 diamond core and reverse circulation samples for Assaleyta and 2,159 rock, diamond core and reverse circulation samples from Hesdaba are currently pending ministerial clearance in Djibouti, with final gold assay results for the programmes anticipated in the second half of 2021.

Oriole has a 10.61% interest in Thani Stratex Djibouti Limited, where African Minerals Exploration & Development Fund III is managing and funding a multi-million dollar exploration programme across a portfolio of low-sulphidation epithermal gold projects in the East African Rift Valley.

"It's great to see yet more encouraging results from this project, with targeted second phase drilling building on the results of the earlier exploration phases,” Tim Livesey, chief executive of the AIM-listed group, said in a release.

“As work progresses in Djibouti, we are happy to see this continued success as we expect this will ultimately be reflected in an increased value in our equity position in the projects.”

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Price: 0.425 GBX

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