LONDON (ShareCast) - (Sharecast News) - Africa and Europe-focussed exploration company Oriole Resources updated the market on its activities in Cameroon on Wednesday, where it is earning up to a 90% interest in the Bibemi and Wapouzé gold projects.
The AIM-traded firm reported rock-chip sampling results for Bibemi in the fourth quarter of 2018, which demonstrated high-grade gold anomalism extending over a strike of around four kilometres.

It said initial results announced on Wednesday from a follow-up phase 1 trenching programme at Bibemi had confirmed multiple zones of orogenic-style gold mineralisation, including 6m at 3.02 grams per tonne of gold, with individual veins returning up to 13.70 grams per tonne of gold.

The programme was now complete, with remaining results anticipated later in the current quarter, or early in the second quarter.

Infill phase 2 trenching would commence shortly, the board said, for a planned 4,360m.

At the earlier-stage Wapouzé project, around 20 kilometres to the north-east, systematic soil sampling had recently been completed and results for 2,119 soil samples and 146 rocks samples were expected later in the month, Oriole added.

"These results from our first phase of trenching at Bibemi are very encouraging and, together with the phase 2 infill trenching, will assist us in both gaining a better understanding of the mineralised system and progressing towards a drill decision later in the year," said Oriole Resources chief executive officer Tim Livesey.

"Though the higher-grading intercepts may appear at first glance to be rather sporadic, they do follow the previously mapped trends and confirm our early model of shear-related vein mineralisation.

"When one considers the scale of the area and the average 200m-spacing between trenches, the results to date suggest the presence of multiple mineralised ore shoots within what is a major 600m-wide structural corridor."

Livesey said there was "clearly" more work to be done to understand the controls on mineralisation in such a complex structural environment.

"However, the results from this first pass trenching programme have been encouraging and insightful, giving us a useful overview of the geology in the area and allowing us to tailor the next phase of our work to target the areas of potential higher grade.

"Remembering that the individual ore shoots in many of the worlds biggest mines exploiting this kind of orogenic gold deposit have strike lengths of around 200-400m, our immediate task now is to target the higher-grade sections with the intention of defining specific ore shoots and the geological factors controlling their localisation."

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