Extractive Industries

Oriole notes strong due diligence results at Mbe

Oriole Resources plc reported strong results from due diligence sampling at its 90%-owned Mbe orogenic gold project in Cameroon.

Completion: Oriole expects to receive US$1 million in signature payments from BCM before the end of February (Pixabay)

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.

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