12th Jun 2025 12:25
(Alliance News) - Oriole Resources PLC on Thursday celebrated "further positive drill results" from testing at its Mbe gold project in Cameroon.
Shares in Oriole were trading 2.3% higher at 0.24 pence in London at around midday.
The West and Central Africa-focused gold exploration company said the results, from drill hole MBDD012, have delivered "further significant gold mineralisation from very near surface".
Oriole said these results increased the programme's total number of mineralised gold intersections to "nearly 200".
On Wednesday, Oriole reported results from drill holes MBDD010 and MBDD011, which it said delivered over 40 additional gold intersections.
The "further positive drill results", Oriole said on Thursday, "reinforce Mbe's potential to be a major new gold discovery".
The company added: "These near-surface results, together with those reported for holes MBDD010 and MBDD011, further support the along-strike continuity of mineralisation between all three fence lines reported to date.
"Sub-surface mineralisation has therefore been confirmed over a strike length of at least 200m, a width of up to 400m and to a vertical depth of as least 290m. The system remains open in all directions and at depth."
Oriole said it expects results for hole MBDD013 late in the second quarter or early in the third.
The drilling programme is scheduled for completion in the third quarter, and Oriole "anticipates publishing an independent consultant's maiden, pit-contained [mineral resource estimate]" in the fourth quarter.
"The latest results from hole MBDD012 are some of the best gold mineralised intersections reported to date, both for length and grade; and start from very near surface," commented Chief Executive Officer Martin Rosser. "Our geological understanding of the deposit continues to grow with the drilling results for each new hole and with it our confidence that Mbe has significant gold resource potential."
By Emma Curzon, Alliance News reporter
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