Oriole Resources plc reported the completion of the first phase of a diamond drill programme at Hesdaba epithermal gold project in Djibouti in the Horn of Africa.
The company, which has an 11.8% interest in operator Thani Stratex Djibouti Ltd, said the site team had drilled an additional 321.50m in three holes, and 1,884m reverse circulation (RC) drilling in 18 holes.
The programme began earlier this year to test three main prospects namely Maranzana, Caravan and Red Horns.
Mapping and chip-sampling across 10 channels have been completed to cover additional outcropping quartz-carbonate veins and to define better the system at the Red Horns prospect. Results are expected during the first quarter of 2021. Previous intersections have been of up to 15.00m grading 4.08 grams per tonne (g/t) gold.
Oriole added that a construction camp, access routes and drill pads were completed in November at Assaleyta project, and Phase 2 of a 1,000m diamond drill and 1,600 RC drill programme had started. Assaleyta lies immediately to the east of Hesdaba and first results from the second phase are also expected during Q1 2021.
“We continue to watch the exploration in Djibouti with interest,” said Oriole chief executive Tim Livesey.
“During 2020 the new management team has been able to progress the key targets despite the early impacts of the Covid-19 pandemic, and we look forward to seeing the results of the latest drilling in due course.”
The Hesdaba permit hosts a series of parallel epithermal vein systems with a combined strike length in excess of 16km. Phase 1 programme comprised 2,242.31m of diamond drilling in 17 holes and 3,413m of RC drilling in 33 holes.
Initial reported results included a best diamond drilling intersection of 15.00m grading 4.08 g/t Au from 53.00m, including 5.00m grading 11.11 g/t Au (Hd-D-08) and a best RC intersection of 12.00m grading 1.99 g/t Au from 14.00m, including 6.00m grading 2.17 g/t Au and 3.00m grading 3.12 g/t Au (Hd-R-04), both from the Red Horns prospect.
Oriole Resources is focused on exploration and development of gold and base metals in Africa and Europe.
This includes new projects in Cameroon, where Oriole earns up to a 90% interest in the Bibemi and Wapouzé projects (gold). The company has applied for eight new licences in central Cameroon covering 3,500 km2. Three of the applications were made through Oriole’s existing partnership with BEIG3 (via wholly-owned subsidiary RMC Cameroon), and five through a 90%-owned local subsidiary, Oriole Cameroon SARL.
The company has a 85%-owned Dalafin project in Senegal, where IAMGOLD has the option to spend $8m to acquire 70%.
Oriole also has interests and royalties in several projects in Turkey (Muratdere, Hasançelebi and Doğala) and Egypt (Hutite and Anbat), and is seeking further exploration opportunities particularly in West Africa.