Oriole Resources plc announced that its joint venture (JV) partner has started its year 4 exploration programme at the Senala gold project in southeast Senegal.
IAMGOLD Corporation will undertake a planned 11,000 metres of reverse circulation (RC) and diamond drilling at the Faré and Madina Bafé prospects. The Canadian miner has the option to spend up to US$8 million to earn a 70% interest.
The programme will be conducted in two phases, with Phase 1 focused on the northernmost Faré prospect, which Oriole believes has the potential to be a standalone deposit.
Diamond drilling began on 19 April and with 609 metres in two holes completed.
A planned 5,000m of RC drilling for 42 holes is now underway, focusing on the strongest anomalies (up to 2.58 grammes per tonne gold) identified from recent aircore (AC) drilling.
This includes three fences at Faré North sub-prospect and two fences at Faré Far South sub-prospect.
Completion of both programmes is expected by the end of the second quarter of 2021, with results anticipated in Q3 2021.
The drill programme at Faré is at the site where Oriole previously had its own intersections including 20m grading 31.13 g/t Au and 59.60 m grading 2.20 g/t Au.
Phase 2 will involve drilling the southernmost Madina Bafé prospect, located within 10km of IAMGOLD’s Boto 2.5 million ounce (Moz) mine development project.
The 5,000m of RC drilling in 42 holes is planned to test a northeast corridor that has recently been subject to artisanal mining.
Oriole said that the opening of RC fence lines and drill pad construction was currently underway with drilling due to begin in June 2021.
IAMGOLD has also planned 400m diamond drilling in three holes to test a mineralised shear corridor.
Sbject to completion of the Year 4 expenditure plan, IAMGOLD will have the right to acquire a 51% interest in the project.
Chief executive Tim Livesey said that Oriole remained free carried throughout the work, which allowed the company’s funds to be used for its own exploration in Bebemi and the Central Licence in Cameroon.