27th Mar 2023 11:13
(Alliance News) - Oriole Resources PLC on Monday said it has completed a ground-based geophysics programme over its main target at the Mbe licence in the eastern part of its 90%-owned central licence package project in Cameroon.
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.
The company said the geophysics programme has been completed over the gold-anomalous zone, in order to test the local and regional scale structures, and help the company to develop the geological model.
Oriole added that the data collected during the programme will be used to identify future drill targets at the site.
The company said it is also awaiting multi-element analysis from lithium-targeting conducted at its Ndom licence in the eastern CLP, with 105 rock samples having been sent for analysis. Results are expected in the second quarter of 2022.
Chief Executive Officer Tim Livesey said: "This data compliments our geological mapping and sampling programmes in helping us define and refine drill targets for follow-up testing. We hope that these results will enable us to be as successful at the Eastern CLP as we were at Bibemi, where over two thirds of our prospecting drillholes intersected gold mineralisation. As drilling is the most expensive component of the early exploration process, accurate targeting to test the mineralisation hypothesis is key to a successful exploration campaign.
"On the back of the hugely successful soil sampling programme and follow-up rock chip programmes, we are confident of success in our next stage of exploration at the Eastern CLP, where we continue to develop a number of exciting gold targets in this potential new mining district."
Oriole shares rose 0.6% to 0.12 pence each in London on Monday morning.
By Harvey Dorset, Alliance News reporter
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