Aim-listed West Africa-focused explorer Oriole Resources reports that the final four holes drilled at its 472.5 km2 Senala project, in Senegal, have returned its best gold mineralisation grading yet of 8 m at 1 g/t from 112 m, which includes 1 m at 2.22 g/t and 2 m at 1.43 g/t.
The drilling, undertaken at the southernmost fence-line at Faré Far South, also returned mineralisation of 7 m grading 0.68 g/t from 42 m and 1 m grading 1.74 g/t from 74 m.
The Senala project is being undertaken with joint venture partner IAMGOLD Corporation, which has an option to spend up to $8-million to earn a 70% interest in the project.
IAMGOLD is currently in the fourth year of that earn-in, having completed more than 80% of a two-phase exploration programme for a planned 11 000 m at the Faré and Madina Bafé prospects this year.
On completion of its year four expenditure plan ($1.67-million), IAMGOLD will have the right to acquire a 51% interest in the project.
In August, Oriole reported finding gold mineralisation of up to 35 m grading 3.61 g/t from the Phase 1 reverse circulation (RC) drilling programme at Faré.
Oriole also notes that the initial results for the Phase 2 RC drilling programme at Madina Bafé, where 3 111 m of a planned 5 000 m drilling campaign has been completed, have been received.
As part of this programme, multiple intersections from four fence lines planned to test a 500 m strike-length, with the best results being 5 m of gold mineralisation grading 0.56 g/t from 9 m, including 1 m grading 1.34 g/t.
They also include mineralisation of 2 m grading 9.36 g/t from 40 m, including 1 m grading 17.7 g/t; 4 m grading 0.98 g/t from surface including 1 m grading 1.96 g/t; and 1 m grading 0.9 g/t from 35 m and 1 m grading 1.11 g/t from 39 m.
Both the remainder of phase 1 and 2 drilling programmes will be completed in the fourth quarter, after the seasonal rains have eased.
Oriole Resources CEO Tim Livesey says the continuation of mineralisation being evidenced by the second line of RC drilling at Faré Far South, some 300 m from the previously announced intersections, gives support to Oriole’s idea that there are opportunities for multiple pods of mineralisation along the 6.3 km Faré trend.
This he says, could be combined to provide sufficient resources for a standalone development target.
“At Madina Bafé, these early intersections again support the presence of mineralisation and we would hope that additional work could identify the controls on mineralisation in this area.”