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(Alliance News) - Oriole Resources PLC on Thursday hailed progress in Cameroon, after exploration confirmed lithium pegmatites at its Central Licence package project.
Oriole is a London-based gold exploration company, focused on an early stage exploration project in Cameroon and the more advanced Senala gold project in Senegal. It also has a number of interests and royalties in companies operating throughout Africa and Turkey.
In November 2022, the company said that its soil sampling programmes had identified lithium-in-soil anomalism at the Ndom licence, each extending over a nine kilometre strike length. In the same month, it secured the Gamboukou licence, immediately to the south of Ndom, in the hope that it might have similar potential.
Since then, Oriole has been completing reconnaissance exploration at both licences to assess their potential to host lithium-bearing pegmatites. On Thursday, it confirmed multiple pegmatite veins within the granitoids and the older basement rocks.
A total of 64 rock-chip samples were taken at Ndom. Further samples were also taken to assess which minerals are lithium-bearing. Mapping and sampling programmes have meanwhile continued at Gamboukou.
"With the multi-element work flagging potential lithium anomalies during 2022, we are pleased to be progressing reconnaissance work on our licences as part of our CLP programme in 2023. Whilst lithium was not an original target for Oriole, the anomalies highlighted by the earlier programmes seem to be associated with the correct granitic host units and this has created a great opportunity for additional value add in this extensive package of ground," said Chief Executive Officer Tim Livesey.
"The addition of the Gamboukou licence in late 2022 further expanded our target area and is testimony to our teams continued focus on delivery of value in Cameroon through good, consistent, boots on the ground exploration."
Oriole shares were trading 4.6% higher at 0.14 pence each in London on Thursday morning.
By Holly Beveridge; Alliance News reporter
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