Oriole Resources plc reported strong results from due diligence sampling at its 90%-owned Mbe orogenic gold project in Cameroon.
DILATION
Joint venture BCM International Ltd, already signed to the Bibemi project, completed the work as part of the conditional earn-in agreement.
The Australian company collected 639 in-situ pit (channel chip) and outcrop (rock chip) samples (total 707 samples including QAQC), over the main 3km long zone previously identified by Oriole.
Over the main 3-km long target of MB-01, results returned up to 256.74 g/t gold from outcrop sampling and 25.16 g/t gold from pit sampling.
A total 155 samples graded equal to or greater than 1 g/t gold, of which 13 grading ≥10 g/t gold.
Oriole said that the results further supported a northern and southern target, MB01-N and MB01-S, where increased dilation resulted in “enhanced levels of gold deposition” over a strike length of at least 650m and 750m, and over widths of more than 500m.
Completion of the due diligence satisfies conditions of the Mbe earn-in agreement and Oriole expects to receive US$1 million in signature payments from BCM before the end of February.