11th May 2020 13:56
(Alliance News) - Oriole Resources PLC on Monday said it has decided to enlarge its 2020 drilling campaign at the Bakassi prospect on the Bibemi gold project in Cameroon following the identification of mineralised stacked veins during the fourth quarter 2019 drill programme.
The planned diamond drilling programme has been expanded to 1,940 metres, 17 holes, at the Bakassi prospect to test the depth-extension of mineralisation identified to date, including a previous trenching intersection.
Chief Executive Tim Livesey said: "Results to date have defined significant gold mineralisation over a strike of more than five kilometres at Bakassi and we already have a good understanding of the mineralising systems in two dimensions. With a 2,000 metre drilling programme already in sight, we are looking forward to testing the system in the third dimension during second half and recommencing our fieldwork in Cameroon as soon as the current global situation allows".
Subject to the conclusion of ongoing asset realisations, and existing Covid-19 restrictions in Cameroon, drill mobilisation is anticipated in late 2020, Oriole said.
Shares in the company were down 8.0% at 0.34 pence each in London on Monday afternoon.
By Tapan Panchal; [email protected]
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