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Highlights:
- Infill Trenching Confirms Gold Zones: Oriole Resources reports successful Phase 2 infill trenching at the Mbe gold project, identifying mineralised zones of up to 122m.
- Mineralised Corridors Defined: The trenching outlines two key mineralised corridors at MB01-N and MB01-S, extending up to 500m in length.
- Fully Funded Drilling Programme: A maiden drilling campaign, funded by BCM International, is set to commence later this quarter.
Oriole Resources PLC (LSE:ORR) has reported promising results from its Phase 2 infill trenching programme at the 80%-owned Mbe gold project in Cameroon. The latest data highlights significant gold mineralisation at the MB01 prospect, particularly at the MB01-N and MB01-S targets.
Encouraging Trenching Results
The infill trenching programme revealed best widths of 79 metres at 0.43 grams per tonne (g/t) gold and 122 metres at 0.34 g/t gold. These findings are consistent with previous Phase 1 data, providing strong evidence of a substantial gold mineralised zone.
The mineralisation outlines a broad corridor at MB01-S, trending north-south to north-northeast, extending approximately 500 metres. Similarly, the MB01-N corridor, which trends north-northwest to south-southeast, measures around 450 metres in length.
CEO Highlights Positive Data Correlation
Martin Rosser, Oriole’s chief executive, expressed optimism about the consistent results. "We are pleased to have now reported the final highly encouraging trenching results from Mbe," Rosser stated. He noted that the data correlates well with Phase 1 findings, reinforcing the significant potential of the project.
Rosser added, "These results demonstrate substantial gold mineralisation over considerable widths, providing a solid foundation for the upcoming maiden drilling programme."
Upcoming Maiden Drilling Programme
Oriole Resources is preparing to launch a fully funded maiden drilling campaign later this quarter. This programme aims to further delineate the extent of the gold mineralisation identified through trenching. The drilling is supported by BCM International, which holds a 10% interest in the Mbe licence and is funding up to $4 million in exploration to earn an additional 40% stake.
Expanding Exploration in the Eastern CLP
The Mbe project is one of five licences within Oriole’s extensive exploration package in Cameroon, known as the 'Eastern CLP'. Covering a total area of 2,266 square kilometres, the Eastern CLP represents a significant opportunity for the company as it advances its exploration efforts.
Oriole’s exploration strategy focuses on leveraging the fully funded drilling programme to maximise the potential of the Mbe project. With strong preliminary results and a clear plan for further development, the company is well-positioned to expand its presence in the region’s gold sector.
Strategic Partnership with BCM International
The strategic partnership with BCM International plays a crucial role in the project’s progress. The funding agreement not only supports the current exploration activities but also aligns with Oriole’s broader goals of rapidly advancing the Mbe project towards potential resource definition.
As the company prepares to initiate drilling, all eyes will be on the results of this next phase, which could significantly enhance Oriole’s asset base and contribute to its long-term growth strategy.
Looking Forward
The upcoming drilling campaign, combined with consistent trenching results, marks a pivotal moment for Oriole Resources at the Mbe project. With a strong partnership in place and promising early indications of extensive mineralisation, the company is poised for a period of accelerated exploration and potential resource growth in the coming quarters.
