Oriole announces proof of concept confirmation at Bibemi
Aim-listed Oriole Resources has recorded an update on its ongoing maiden diamond drilling programme at the Bibemi gold project, in Cameroon, where it is earning up to a 90% interest.
Results from the first hole of a planned 28-hole programme have returned 1 m grading 4.09 g/t gold and 1 m grading 0.67 g/t gold, confirming the continuity of the orogenic gold system to more than 90 m below surface.
The ongoing programme of 28 holes is about 50% complete and further results are expected throughout the second quarter.
Under the terms of its option agreement with Bureau d'Etudes et d'Investigations Géologico-minières, Géotechniques et Géophysiques (BEIG3), Oriole is exercising its option to acquire a 51% interest in the Bibemi and Wapouzé projects, having spent an initial $1.56-million.
Completion of the drilling programme at Bibemi should see Oriole satisfy the conditions to earn a 90% interest in the projects, it says.
"We are extremely pleased that, as we hoped, our first hole of the maiden drill programme at Bibemi has given us proof of concept for the orogenic systems we are exploring in Cameroon, with two zones of gold mineralisation associated with quartz-tourmaline veining being identified.
“We have seen evidence of much wider zones of alteration and veining in subsequent holes elsewhere in the Bibemi systems and we are confident we will show continued evidence of vertical extension to the already identified surface anomalies in the four priority areas being targeted in this early programme. We will be sharing results from the ongoing programme of 27 further holes as and when they become available,” says Oriole CEO Tim Livesey.
With a large quantity of high-quality structural data coming from this first phase orientated core programme, the company expects to further refine its exploration targeting during the summer, he adds.
“Meeting the requirement for transfer of ownership of 51% of RMC Cameroon will be a key milestone for Oriole, with the final increase to 90% ownership expected at the end of this initial drill programme. We look forward to confirming this in due course,” Livesey says.
Comments
The
content
you are trying to access is only available to subscribers.
If you are already a subscriber, you can Login Here.
If you are not a subscriber, you can subscribe now, by selecting one of the below options.
For more information or assistance, please contact us at subscriptions@creamermedia.co.za.
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation