Oriole Resources plc announced an extension of mineralisaton following results from the 2,148 metres reverse circulation (RC) drilling at the Faré prospect at the Senala gold project, Senegal.
RESULTS
The company’s joint venture partner and operator IAMGOLD Corporation, currently in Year 4, has the option to spend up to US$8 million to earn a 70% interest.
Oriole said that the extended mineralisation was along strike at all three main anomalies, delivering results of up to 5.00m grading 12.45 grammes per tonne gold, including 2.00m grading 26.61 g/t gold.
The results confirm that mineralisation is open to the northeast at all three of the main anomalies.
Best intersections returned from the Faré South and Faré Far South anomalies include:
Faré Far South:
– 1m grading 6.08 g/t Au from 12m (FARC21-0135)
– 5m grading 12.45 g/t Au from 92m, including 2m grading 26.61 g/t Au (FARC21-0136)
– 12m grading 0.67 g/t Au from 104m including 2m grading 1.18 g/t Au and 2m grading 1.15 g/t Au (FARC21-0137)
Faré South:
– 1m grading 5.90 g/t Au from 84m (FARC21-0128)
– 1m grading 2.29 g/t Au from 57m (FARC21-0129)
Oriole reported mineralisation at Faré Far South over a strike length of at least 500m, “suggesting a high probability for the definition of further resources at the prospect”.
Subject to completion of the Year 4 expenditure plan, IAMGOLD will have the right to acquire a 51% interest in the project.