Oriole Resources PLC (LSE:ORR) said multiple gold targets have been identified in the eastern Central Licence Package in Cameroon.
The targets were identified using gold assay results from 503 stream sediment samples taken from the three easternmost licences: Pokor, Ndom and Mbe.
The best reported gold grade of 291 parts per billion (ppb) was returned from the Ndom licence. Across the three licences, 26 samples graded more than 10 ppb gold and six samples returned more than 50 ppb gold.
The AIM-quoted exploration company said that 18 targets, where results exceeded 30 ppb gold, will now be ranked ahead of designing follow-up programmes.
Oriole, which owns 90% of the Central Licence Package, previously reported sampling results from the Niambaram and Tenekou licences.
READ: Oriole Resources reports positive initial sampling results from the Central Licence Package
"We are excited to see widespread gold-in-stream anomalism across all five licences sampled to date at our extensive and contiguous Central Licence Package,” said Oriole Resources chief executive Tim Livesey. “These early indications will now enable us to rank and prioritise areas for rapid follow up exploration work.”
"As a first mover in what we believe is a new gold district, these early results endorse our early targeting work and support our view that Cameroon is a new frontier for gold exploration. It is encouraging to see other groups following our lead, with licence applications being submitted at every level, from junior exploration companies right up to large multinationals.”
Cameroon will no doubt become busier as we see more and more groups follow us there, but we are confident that our early mover position has given us great advantages in allowing us to select the best package of gold exploration licences in this new jurisdiction."
Mapping and sampling over the remaining three licences in the west of the package will resume in the fourth quarter, it said.