Oriole reports encouraging results from maiden drilling at Mbe
By Josh White
Date: Monday 03 Feb 2025
(Sharecast News) - Oriole Resources reported encouraging results from its maiden drilling programme at the Mbe gold project in Cameroon on Monday, where it holds a 90% interest.
The AIM-traded firm said the initial results confirmed multiple gold mineralised intersections, including 29.75 metres at 0.82 grams of gold per tonne, with a higher-grade section of 17.30 metres at 1.09 grams per tonne.
Another intercept returned 26.30 metres at 0.62 grams of gold per tonne, including 10.90 metres at 1.02 grams per tonne.
The drilling programme, which was fully funded and planned for 6,590 metres across 24 holes, was focused on the MB01-S target following promising results from soil, rock-chip, and trench sampling.
Oriole said the first four holes of the programme had been completed, totalling 1,391 metres, with results correlating well with previous trenching data.
Gold mineralisation was associated with NNW-trending smoky quartz veinlets that intersected steeply dipping structures, creating brecciated zones with stronger mineralisation.
Based on structural assessments, the remaining holes would be adjusted to optimise mineralised intersections, with drilling directed westward to target a subvertical mineralised zone dipping steeply to the east.
Results from the second pair of scissor holes were expected later in the month, with early visual assessments indicating further mineralisation.
The programme was part of Oriole's broader exploration efforts within its Central Licence Package in Cameroon, where BCM International was earning up to a 40% interest through a $4m investment in exploration.
"The first few holes of any maiden drilling programme are always eagerly awaited and, based on the earlier excellent trenching results, our hopes were high," said chief executive officer Martin Rosser.
"Hole MBDD002 did not disappoint, delivering a discovery hole with multiple significant gold mineralised intersections over substantial widths.
"Importantly, the purpose of the first scissor hole pair to provide key geological structural information, for optimal intersection of gold mineralisation, has been satisfied."
Rosser added that, given the appearance of the core in the second scissor pair of holes, there were further promising signs of mineralisation.
"In summary, we are pleased with the results reported and the progress made already at this early stage."
At 1132 GMT, shares in Oriole Resources were down 18.66% at 0.21p.
Reporting by Josh White for Sharecast.com.
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