Oriole Resources PLC (AIM:ORR) said initial results from ongoing drilling at the Bakassi Zone 1 prospect of its 90%-owned Bibemi gold project in Cameroon were positive.
The first two holes of an ongoing Phase 4 diamond drilling programme confirmed the existence of mineralised sub-horizontal quartz veins connecting the previously defined sub-vertical shear veins, said the AIM-traded company.
Confirmation of these sub-horizontal veins could “lead to a significant volumetric increase in the known mineralisation in Zone 1”, said chief executive Tim Livesey.
"It's exactly these types of structural interplays that create the potential for mineable grades and widths in orogenic systems and we are keen to see how the analysis stacks up against the positive results received to date at Bibemi.
“With a high success rate to date of intersecting gold mineralisation on the licence, we are confident the systems at Bibemi have the capacity to host an orogenic gold deposit,” he added.
Oriole is working towards delivering a JORC-classified exploration target at Bakassi Zone 1, just one of four prospects at the project.
In February, Oriole announced it had intercepted "bonanza" gold grades from a Phase 3 diamond drilling programme at Bakassi Zone 1.
READ: Oriole Resources intercepts 'bonanza' gold grades at 90%-owned Bibemi project in Cameroon