Oriole Resources plc released further results from the recently completed Phase II diamond drill programme at Bakassi Zone 1 on its 90%-owned Bibemi gold project in Cameroon.
RESULTS
The company completed Phase II drilling for 1,650.70m in 11 holes to test a 1km portion of Bakassi Zone 1, to infill previously reported mineralised zones identified by initial drilling.
Best mineralised intervals are of 6.50m grading 3.92 g/t gold including 1.00m grading 16.79 g/t gold, 5.20m grading 1.97 g/t gold and 2.25m grading 8.82 g/t gold including 1.00m grading 19.33 g/t gold.
Oriole added that results continued to confirm continuity of surface mineralisation along strike and to a vertical depth of more than 100m below surface. The system remains open at depth.
PHASE III
A follow-up programme of infill and extension drilling (Phase III) for a planned 1,350m in nine holes is nearing completion with results anticipated during Q1 2022.
Chief executive Tim Livesey added that the Phase II results at Bibemi continued to support the company’s targeting rationale.
“The continued drill success at Bibemi gives us great confidence in our understanding of the system and these positive results have allowed us to continue straight into Phase 3 of the drill testing programme.”
AGREEMENT
Under the terms of its option agreement with Bureau d’Etudes et d’Investigations Géologico-minières, Géotechniques et Géophysiques SARL (‘BEIG3’), Oriole has satisfied the conditions to earn a 90% interest in Bibemi, the Wapouzé project (20km to the north) and three licences in Central Cameroon.
Beneficial ownership in the licences has been confirmed and the administrative process to formalise this ownership is currently underway.