Oriole Resources plc said it had identified a new mineralised zone at the Lawa West prospect within its 82.2%-owned Bibemi orogenic gold project in Cameroon.
EXPANSION
Earn-in partner BCM International Ltd is currently funding up to US$4 million exploration in return for up to a 50% interest in the project.
Oriole added that recent mapping within the wider Bibemi licence had extended the mineralised strike length of the Lawa West prospect to 6 km.
Results from 163 selected vein rock-chip samples returned 17 samples grading over 0.5 g/t gold from quartz vein material, with best results of 54.50g/t gold and 38.40g/t gold.
The company said that mineralised quartz and quartz-tourmaline veins outcropped in the same litho-structural setting as the main Bakassi Zone 1 prospect.
Bakassi Zone 1 has a mineral resource estimate of 375,000 contained troy oz grading 2.30g/t gold.
The total confirmed mineralised trend at Bibemi is currently 17 km.
Additionally, “a number” of north-east trending mineralised potential corridors have been outlined, with further opportunities for drill testing and resource definition.
Chief executive Martin Rosser added: “The results reported for Lawa West are encouraging as they significantly expand the potential mineralised corridor length of the prospect, and the overall system at Bibemi.
“More generally, this bodes well for the discovery of additional sources of mineralised material on the project licence that could be processed at a central mineral processing plant at Bibemi.”
Bibemi’s four prospects comprise Bakassi Zone 1, Bakassi Zone 2, Lawa West and Lawa East.