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Highlights:
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Recent drilling at the Bibemi project in Cameroon has revealed additional mineralized intersections, indicating potential for resource expansion.
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Selective sampling of 10 holes at the BZ1 MRE target yielded significant gold grades, with several intersections located near the surface.
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The Phase 5 diamond drilling program at Bibemi continues, with 31 holes drilled out of a planned 62, and results from further holes are pending.
Oriole Resources {LSE:ORR} has announced promising developments from its latest drilling activities at the Bibemi project in Cameroon, which have indicated further mineralized intersections. Selective sampling of the second set of 10 drill holes at the Bakassi Zone 1 (BZ1) mineral resource estimate (MRE) target has produced noteworthy results, including intersections of 1.20 meters at a grade of 25.54 grams per tonne (g/t) gold, 2 meters at 2.76 g/t gold, and 1.80 meters at 3.26 g/t gold. Several of these intersections are located within 50 meters of the surface, reinforcing the potential for additional near-surface resources within the existing resource footprint.
The current MRE for the Bibemi project stands at 375,000 ounces of contained gold, with an average grade of 2.30 g/t. To date, Oriole has completed 3,741 meters of drilling across 31 holes as part of the ongoing Phase 5 diamond drilling program, which has a total planned scope of 7,060 meters over 62 holes at the BZ1 prospect. Results are still pending for an additional seven holes (BBDD074 to BBDD080) at the BZ1-MRE target, while drilling has commenced at a second target, BZ1-NE, where 18 holes are planned.
Completion of the entire Phase 5 drilling program is anticipated within the current quarter. Martin Rosser, Oriole's Chief Executive, expressed satisfaction with the progress, noting, "Phase 5 drilling continues apace at Bibemi, especially as the wet season is easing, and gratifyingly, we are now over halfway for the planned total number of meters. The results continue to support the case for resource expansion within the BZ1-MRE zone."
Oriole Resources maintains an 82.2% ownership stake in the Bibemi project, while BCM holds a 10% interest with the opportunity to increase its stake to 50% through future exploration expenditures. This strategic partnership underscores the potential for further development and exploration within this mineral-rich region.
