Oriole Resources plc reported the restart of exploration work by its new earn-in partner at the Senala gold project in Senegal.
JOINT VENTURE
On 26 April, former Canadian partner IAMGOLD Corporation completed the sale of its Senegal subsidiary AGEM to Moroccan miner Managem Group.
Oriole currently has a 41.65% interest in the project.
DRILLING
Managem will continue funding of the AGEM earn-in on Senala under the 2018 option agreement to earn up to a maximum 70% interest in the project by 28 February 2024, subject to a total spend of US$8 million.
The exploration team is currently conducting a revised litho-structural model to integrate all results achieved to date.
A nine-hole diamond drilling programme for 2,000 metres is planned along the full six kilometre length of the main mineralised trend at Faré, which is the most advanced of five prospects at the site.
Operations are expected to begin later in 2023 and results will be used to guide future programmes at Faré.
“We know there is potential to extend the existing maiden resource at Faré South, identify additional resources at Faré South and Faré North, and to test additional targets identified during the 2022 auger drilling programme,” added chief executive Tim Livesey.