Oriole Resources PLC - AIM-listed exploration company, operating in Africa and Europe - Says subsidiary Oriole Cameroon has been awarded five new exploration licences in central Cameroon, with its partner Reservoir Minerals Cameroon receiving three new licences. Notes all the licences have an initial three-year term and represent a land package covering 3,592 kilometres squared of "highly prospective geological terrain". Says the licences have significantly expanded Oriole's operational base in Cameroon, complementing more advanced exploration programmes currently ongoing at the Bibemi and Wapouze projects.
"Based on our in-house prospectivity analysis in 2019, this district-scale grassroots licence package was identified as having significant potential to host orogenic-type gold mineralisation. We believe that this contiguous package of nearly 3,600 kilometres squared, offers exciting greenfield potential and we look forward to commencing our first-pass exploration programmes during the first half of the year," says Chief Executive Tim Livesey.
Current stock price: 1.32 pence, up 3.1% on Wednesday
Year-to-date change: tripled from 0.45p at the end of 2020
By Zoe Wickens; zoewickens@alliancenews.com
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Oriole (ORR)