18th Jan 2021 11:15
(Alliance News) - Oriole Resources PLC on Monday said the 10,000 metre air core drilling programme at its Senala project in Senegal was completed as scheduled and results from its maiden diamond drilling programme at the Bibemi project in Cameroon are due later this quarter.
Shares in Oriole were up 20% at 1.08 pence in London in late morning trading.
Oriole, an exploration company focused on west Africa, said results from its Senala air core programme, completed by IAMGOLD, are expected in the first quarter.
The goal of the drilling is to better define the geochemical footprint of gold mineralisation at the Fare prospect at Senala. Subject to the results, IAMGOLD intends to conduct 5,000 metres of follow-up drilling and 1,00 metres of diamond test drilling.
IAMGOLD is presently three years into its earn-in to an initial 51% Senala interest and must have spend another USD1 million by February end to keep this option in good standing.
Meanwhile, in Cameroon, Oriole is expecting first results from its maiden diamond drilling programme at Bibemi later in the first quarter of 2021 and into the second.
The total planned Bibemi programme now stands at 28 holes for 3,080 metres, focusing on testing depth expansion of surface gold mineralisation found at the Bakassi Zone 1, Bakassi Zone 2, Lawa West and Lawa East prospects.
Also in Cameroon, the Wapouze pilot trenching is underway and will test key gold anomalies found during previous soil sampling campaign's.
Oriole is waiting for approval for eight further licences in central Cameroon, covering around 3,500 square kilometres.
In Djibouti, Thani Stratex Djibouti has completes its phase 1 programme for the Hesdaba project. Final results for the programme are expected in the first quarter of 2021. Oriole holds an 11.8% stake in Thani Stratex Djibouti.
"The company looks forward to providing updates on all of these projects as the information becomes available," said Oriole.
By Anna Farley; [email protected]
Copyright 2021 Alliance News Limited. All Rights Reserved.
Related Shares:
Oriole Resources