19th May 2025 13:06
(Alliance News) - Oriole Resources PLC on Monday reported positive drill results from its 90%-owned Mbe orogenic gold project in Cameroon, as it noted the potential for zones of higher-grade gold.
The Hampshire, England-based gold explorer focused on West and Central Africa said the results from its drillhole, MBDD009, increased the total mineralised gold intersection from the phase one drilling programme to 137.
This included two metres at 25.77 grams per tonne of gold, with one metre at 51.30 grams per tonne of gold.
Shares in Oriole Resources rose 5.7% to 0.22 pence on Monday afternoon in London.
Oriole Resources noted that the fully-funded phase one drilling programme at MB01-S is over 60% complete, with a fourteenth hole in progress.
It expects results for holes at MBDD010-012 later this quarter, with existing samples awaiting assay analysis.
Completion of the drilling programme is marked for the third-quarter of this year, said the firm.
Chief Executive Martin Rosser said: "Building on the last announcement of outstanding drilling results, hole MBDD009 is significant as it supports our view that we can expect narrower zones of high-grade gold mineralisation within the wider, lower-grade mineralised envelopes. The 1.00m at 51.30g/t gold intersection is the highest grade encountered to date."
By Christopher Ward, Alliance News reporter
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