Extractive Industries

Oriole completes phase V drilling at Bibemi

Oriole Resources plc has completed phase V of drilling, several weeks later than planned, at its 90% owned Bibemi orogenic gold project in Northern Cameroon.

Efficiencies: across the group allows Mbe drilling to proceed quicker (Pixabay)

REVIEW

Operator and earn-in partner BCM International drilled a total 6,915.40m in 56 holes at the Bakassi Zone 1 prospect over three sub-prospects of BZ1-MRE, BZ1-NW, and BZ1-SW.

Results are due this quarter for the remaining seven holes in the programme for infill drilling at the BZ1-MRE zone after which all drilling data, totalling 13,600m in 110 holes, will be reviewed.

Bibemi currently has an inferred mineral resource estimate of 375,000 oz contained gold, grading 2.30 g/t based only on drilling data from phases I to IV.

Oriole expects infill drilling results at BZ1-MRE and the data review will enable a “partial upgrade” of the existing Australasian Joint Ore Reserve Committee Code inferred MRE to the measured and/or indicated categories.

BCM has so far acquired a 10% interest and is spending up to US$4 million for a further 40%.

“Although the programme has ended, and the team has worked tirelessly throughout the programme, the completion of drilling is somewhat later than we had originally planned,” said Oriole chief executive Martin Rosser.

“This was largely due to factors beyond our control.

“However, we also have worked hard to deliver efficiencies across the group.

“We are confident that this will allow the Mbe drilling programme to continue at a swifter pace, which is what we have seen to date with the programme already being 25% complete.” 

Last week Oriole reported “encouraging” results from its 90% owned flagship Mbe orogenic gold project within the district-scale Central Licence Package, central Cameroon.

MBE

BCM has completed 1,391m of inaugural diamond drilling in four holes of a planned 6,590m in 24 holes at the MB01-S target.

Oriole said that results from the first of two scissor hole pairs at MB01-S returned “multiple gold mineralised intersections”, using a 0.20 g/t gold lower cut-off grade.

Returns include 2.00m at 3.24g/t gold from 80.40m and one metre at 1.47g/t gold from 15.90m.

The company added that, based on visual assessment of the ore, mineralisation also appears to be in the second pair of scissor holes. Results are due later this month.

Mr Rosser added: “The decision has been made to continue the drilling programme at Mbe with a single rig so that we can optimally manage the exploration programme, including, most importantly, the structural model interpretation.  

“However, the company will keep a watching brief on this.

“Currently, the programme is advancing at an appropriately measured pace whilst the company works to delineate a mineral resource.” 

BCM has also earned an initial 10% interest in Mbe and is earning up to a further 40% by spending up to $4m on exploration.

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