Oriole Resources plc announced that results from the first hole of a planned 28-hole diamond drill programme have proved the continuity of orogenic gold at the Bibemi gold project in Cameroon.
Hole BBDD001 returned best grades of 1 metre grading 4.09 grammes per tonne (g/t) gold, and 1m grading 0.67 g/t gold from zones of quartz-tourmaline veining and quartz veining respectively.
Oriole, which is now halfway through the 28-hole programme, said that the results confirmed the continuity of the orogenic gold system to more than 90m below surface.
Structures observed within both zones suggested that the higher grade was associated with previously identified quartz-tourmaline veins.
Intersecting vein sets (steeply-dipping and one flat-lying) are being identified downhole, reflecting what is seen at surface in Oriole’s previous trenching programmes and in shallow (<4m deep), small scale artisanal workings.
The most robust zones of mineralisation (up to 12m wide) have been observed in fence line 1, which comprises holes BBDD004, BBDD005 and BBDD007.
Results from these holes, as well as others from the programme, are expected throughout Q2.
TERMS OF AGREEMENT
Under the terms of its option agreement with Bureau d’Etudes et d’Investigations Géologico-minières, Géotechniques et Géophysiques SARL (BEIG3), Oriole is exercising its option to acquire a 51% interest in the Bibemi and Wapouzé projects, having spent an initial US$1.56 million.
Completion of the drilling programme at Bibemi should see Oriole satisfy the conditions to earn a 90% interest in the projects.
Chief executive Tim Livesey said that the first hole had given the company proof of concept for the orogenic systems under exploration in Cameroon.
“We have seen evidence of much wider zones of alteration and veining in subsequent holes elsewhere in the Bibemi systems and we are confident we will show continued evidence of vertical extension to the already identified surface anomalies in the four priority areas being targeted in this early programme.
“With a large quantity of high-quality structural data coming from this first phase orientated core programme, we expect to further refine our exploration targeting during the summer.
“Meeting the requirement for transfer of ownership of 51% of RMC Cameroon Sarl will be a key milestone for Oriole, with the final increase to 90% ownership expected at the end of this initial drill programme.”