Oriole Resources plc has progressed work to define further targets and extend the mineral resource estimate (MRE) at its 90%-owned Bibemi orogenic gold project in north Cameroon.
BIBEMI
The 177km2 project holds an identified shear-hosted gold mineralisation at four main prospects of Bakassi Zone 1, Bakassi Zone 2, Lawa West and Lawa East.
December 2022’s inaugural JORC MRE showed 305,000 Troy oz grading 2.19 g/t gold for Bakassi Zone 1.
The company estimates an additional JORC exploration target at Bakassi Zone 1 of 1.5 to 2.2Mt at grades of 1.10 to 2.10 g/t, for an additional 53,000 to 148,000 oz gold.
Both estimates remain open at depth and along strike to the northeast.
EXPANSION
Oriole said that “significant” potential existed to expand the resource at Bakassi Zone 1 and to identify additional resources, within a few kilometres, at the other three prospects.
The company recently completed an infill ground magnetics programme and plans to process the data during H2 2023.
Results will aid drill targeting to expand resource at the four prospects, which all show evidence of gold mineralisation.
The company has also started local technical studies including a baseline environmental impact assessment.
GLOBAL RESOURCE
Chief executive Tim Livesey said that early imagery of the new data indicated a much finer structural detail than previously visible, and one known to “highly significant” in controlling gold deposition.
“These four gold prospects are at most three kilometres apart.
“Due to this proximity, we believe there is a good potential to develop a substantial global economic resource, comprising a series of open pits centred on these prospects and a centralised ore processing facility.”