(Alliance News) - Oriole Resources PLC on Thursday reported an update on its 90% owned district-scale licence package in central Cameroon.
The AIM-quoted exploration company focussed on West Africa said, following the recent issue of the licences made to its subsidiary Oriole Cameroon SARL and its partner Reservoir Minerals Cameroon Sarl, an independent desktop remote sensing study has now been completed over the entire 3,592 square kilometres licence package.
This work has identified 12 initial priority gold targets, which will be given particular attention during the company's planned mapping and stream sediment sampling programmes later in the first half of 2021, Oriole said.
"This work endorses the company's initial assessment that the district has significant potential to host orogenic-type gold mineralisation," said Chief Executive Tim Livesey.
"We look forward to updating the market further as our central licence programmes progress through 2021, and of course reporting back on the results of our maiden drilling programme at Bibemi and ongoing work at Wapouze through the first and second quarters," added Livesey.
Oriole shares were trading 1.6% lower in London on Thursday at 1.40 pence each.
By Evelina Grecenko; evelinagrecenko@alliancenews.com
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Oriole (ORR)