Oriole Resources PLC (AIM:ORR) has released a maiden JORC-compliant exploration target for its 90%-owned Bibemi orogenic gold project in Cameroon.
Independent consultant Forge International Limited has set the maiden JORC-compliant exploration target for the Bakassi Zone 1 prospect at between six million tonnes and eight million tonnes at grades ranging from 1.5 grammes per tonne to 1.7 grammes.
That gives between 290,000 and 440,000 troy ounces of gold. The potential quantity and grade of the exploration target is conceptual in nature.
The exploration target has been modelled over a strike length of 1,200 metres and to a depth of 200 metres below surface.
The remaining activities required in order to define a maiden Mineral Resource Estimate for Bakassi Zone 1 include data verification, which will be completed by Forge in the upcoming field season, and by undertaking a pit optimisation exercise to define blocks with reasonable prospects of economic extraction in accordance with JORC guidelines.
The Bakassi Zone 1 exploration target remains open along strike to the north-east and at depth and is just one of four prospects on the licence where drilling has confirmed sub-surface gold mineralisation.
"We are delighted to report this maiden JORC Exploration Target for what is just one of four prospects at Bibemi,” said Tim Livesey, chief executive of Oriole in a statement.
“Given that Cameroon has had no hard rock gold resources reported to date, we are proud to be leading the charge in helping to change that. We are looking forward to upgrading and hopefully extending the mineralisation in due course. Delivery of this JORC exploration target has been achieved in just 19 months since commencing the maiden drilling programme at Bibemi, demonstrating the team's ability to drive efficient and economical exploration in a new frontier," he added.