19th Nov 2018 17:46
LONDON (Alliance News) - Oriole Resources PLC said is local partner in Cameroon has installed a sample preparation laboratory and announced that it will delay its drill programme.
As announced in June, the exploration company signed an option agreement on two early stage gold projects in Cameroon: Bibemi and Wapouze.
Oriole's local Cameroonian partner, Bureau d'Etudes et d'Investigations Geologico-minieres, Geotechniques et Geophysiques SARL - also known as BEIG3 - installed the preparation lab in Yaounde, Cameroon's capital city.
In total, 454 rock samples collected from Bibemi in July and August have been prepared at the lab and sent for gold analysis.
"We are very pleased that BEIG3 has completed the installation of a sample prep facility, at no cost to Oriole, as a step to both speeding up the processing time and reducing the cost of sample transport," said Oriole Chief Executive Tim Livesey.
At Bibemi, the more advanced of the two licences, a phase one 5,500 metre initial trench programme has commenced.
This will be followed by a more detailed phase 2 infill trenching in the first quarter of 2019.
Oriole has deferred its drilling programme, which was intended to begin in the 2019 first quarter, until both trenching programmes are complete.
In December, Oriole will begin systematic soil sampling at Wapouze.
Shares in Oriole closed down 5.5% at 0.34 pence on Monday.
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