Oriole Resources plc’s initial sampling results support its hypothesis of huge potential for gold exploration on the 3,592km2 Central Licence Package (CLP) in Central Cameroon.
PRIORITY
Following a desktop remote sensing study that identified 12 initial priority gold targets, Oriole conducted a mapping and stream sediment sampling programme.
The programme was completed over the five easternmost licences, with gold results of up to 95 ppb Au received for the Niambaram and Tenekou licences.
Oriole said that results for 376 stream sediment samples in both licences indicated “a number of areas of elevated gold” in distinct drainage basins.
Findings from the Pokor, Ndom and Mbe sampling are expected during Q3 2021.
Sampling of the three western licences, paused for the rainy season, is expected to restart during Q4 2021.
Chief executive Tim Livesey added that there was also a correlation with areas of historical and current artisanal mining activity.
“The initial results from this first phase of exploration in the package, associated as it is with the main Tcholliré-Banyo shear zone corridor, supports our hypothesis of the CLP being an area of huge potential for gold exploration.
“Ranking of priority targets will begin once more data has been received, to enable follow-up work programmes to be tailored to suit the expansion of the exploration programme.”
The CLP was issued to the company’s 90%-owned subsidiary, Oriole Cameroon SARL, and its 51%-owned subsidiary Reservoir Minerals Cameroon SARL, in February 2021.
The minority interests in the companies are held by Bureau d’Etudes et d’Investigations Géologico-minières, Géotechniques et Géophysiques SARL (BEIG3).