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(Alliance News) - Oriole Resources PLC on Wednesday reported encouraging results from exploration work at the Bibemi gold project in Cameroon.
Recent mapping, Oriole said, has confirmed the continuation of Bibemi's mineralised zone by to over 5.0 kilometres in length. Rock-chip samples have returned grades of up to 35.9 grams of gold per tonne of ore.
These grades come from stacked veins, Oriole said, and the presence of these veins suggest the area is "highly prospective" for enhanced concentrations of gold.
Oriole is planning further drilling to test the north-eastern area of the Bakassi area at Bibemi.
Chief Executive Tim Livesey said: "The results of our initial mapping, trenching and sampling programmes in 2018/19 confirmed extensive gold anomalism but it was clear gaining a better understanding of the structural setting would be essential in order for us to identify the most prospective areas of mineralisation where there is potential to define a resource.
"We are delighted to see such positive results at the beginning of the 2020 field season. The mapping has confirmed extension of the zone one structure to the north-east and, importantly, the presence of sub-horizontal stacked veins is very encouraging for the development of a resource target.
"This has been a fantastic start to our field season in Cameroon. It's rare to have your geological models advanced and supported so strongly, with every analysis coming back positive for gold. This is a great credit to our geological team who have developed and tested this hypothesis, yet again highlighting the value of having "boots on the ground," Livesey continued.
Oriole shares were 0.4% higher on Wednesday at midday in London at 0.49 pence each.
On Tuesday, the firm had reported progress in Senegal, where it has been granted a new licence lasting potentially a decade at the Dalafin project, which has been renamed Senala.
By George Collard; georgecollard@alliancenews.com
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