Oriole Resources PLC (AIM:ORR) chief executive Tim Livesey said the latest results from its soil sampling programme were “hugely significant” as they were helping confirm proof-of-concept for the company’s Central Licence Package in Cameroon.
The highest reported read-out was 838 parts per billion (ppb) of gold on the Mbe licence area.
In all, Oriole has received assays for 4,785 soil sediment samples covering its Mbe and Ndom licences that have identified “multiple gold-in-soil anomalies”.
These are thought to relate to the northeast-trending geological feature called the Tcholliré Banyo shear zone corridor.
The company said sampling of its remaining four “priority-one” grids is “ongoing”.
"Our initial stream sediment sampling programme confirmed gold in a number of drainage basins covering more than 50-kilometre strike length of the Tcholliré-Banyo Shear Zone corridor,” said CEO Livesey.
“The soil sampling results are providing further definition to those anomalies, enabling the team to focus in on the most prospective areas that will lead naturally towards trenching and drill targeting.
"These results are hugely significant as they are confirming proof-of-concept for the Central Licence Package. We are seeing multiple areas of gold mineralisation in a brand-new gold district where there has been no historical exploration."
Oriole owns 90% of the Central Licence Package, a district-scale collection of eight licences covering 3,592 square kilometres of previously unexplored land prospective for gold.