6th Jun 2019 11:46
LONDON (Alliance News) - Mineral exploration firm Oriole Resources PLC said Thursday samples from a gold project in Cameroon have delivered "significant" gold anomalism, supporting earlier samples.
At Wapouze in Cameroon, in which Oriole has a 90% interest, a phase two infill soil sample at the Bataol zone returned up to 210 parts per billion of gold. This supports the "multiple" anomalies of more than 10 parts per billion of gold identified in the phase one programme.
The sample also helped to "define more clearly" the zones of higher grade mineralisation within the earlier anomalies.
The phase two sample delivered three samples with over 100 parts per billion of gold, 45 samples with more than 20 parts per billion and 123 samples with over 10 parts per billion.
"The ongoing positive soils results from the infill sampling at the Bataol zone are very encouraging," Chief Executive Tim Livesey said. "Seeing 0.2 grammes per tonne of gold peaks in soil sampling is a pretty good indicator there is potential for economic-grade gold in the system.
"We are particularly pleased to see confirmation and improved definition of the anomalism at the southwestern end of the previously identified anomalous trends," Livesey added.
"This area of multiple parallel soil anomalies creates a significant footprint for potential mineralisation, which we will be following up on as a priority during the next field season."
"These results continue to support our position that the Wapouze and Bibemi licences are highly prospective targets in a new frontier for modern gold exploration," Livesey continued. "Our ongoing studies will further develop the targets at Bibemi through the summer ahead of rig mobilisation for a drilling campaign in the next dry season later in 2019, and we intend to follow up on these anomalous areas at Wapouze soon after."
Shares in Oriole were 0.6% higher at 0.31 pence on Thursday.
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