Oriole Resources plc has completed sampling of the remaining four ‘Priority 1’ grids for a further 3,114 samples at its Central Licence Package (CLP) in Central Cameroon.
LICENCE APPLICATION
The news comes with the company’s application for a further licence, Maboum, to the east of the CLP and contiguous with the existing package.
SAMPLING
The district-scale CLP (90%) comprises eight contiguous licences covering 3,592km2 “highly prospective” for orogenic-style gold mineralisation.
The company has sent samples for Grid 2 and Grid 4 for analysis and expects results by the end of Q2 or early Q3.
Sampling is also complete for a further 1,239 samples (including QAQC) over extensional grid, Grid 6, at the Mbe licence, along strike from previously reported best results of 838 parts per billion (ppb) gold from a circa 11.5 km anomalous gold-in-soil zone.
REVIEW AND STUDIES
Oriole said that a multi-element review of the pilot area had identified a number of pathfinder elements that would assist future targeting.
A technical study is underway to compare laboratory and handheld X-ray fluorescence (XRF) data to help reduce the time and cost of multi-element analysis.
Additionally, geological line mapping over the Mbe anomaly is approximately 70% complete.
OPPORTUNITY
“The field crews have been busy with mapping and sample collection – the boots on the ground de-risking that every project requires in the early stages of exploration – trying to cover as much ground as possible before the rains restrict access,” said chief executive Tim Livesey.
“Orientation work, utilising multi element data, is providing interesting leads, and the potential for identification of overprinting mineralised systems adds a further layer of opportunity.
“Through this work, we are seeing yet more evidence that this package of licences has great potential to be a new gold district.”