Oriole Resources plc said that early stage exploration results appeared to confirm the company’s proposition of a new gold district at its 90%-owned Central Licence Package (CLP) in central Cameroon
LICENCES
The district -scale area covers 3,592 km2 comprising eight contiguous licences highly prospective for orogenic-style gold mineralisation.
Oriole has to date focused on the five easternmost licences (Eastern CLP) where it completed a semi-regional soil sampling programme across six target areas, following an initial regional stream sediment sampling programme in 2021.
NEW TARGETS
The company’s results from 3,533 soil samples in the Eastern CLP relate to grid two to grid six, confirming anomalous results within all grids.
Best results include 520 parts per billion (ppb) gold (‘Au’), 463 ppb Au and 111 ppb Au with 12 samples grading ≥51 ppb Au and 105 samples reporting ≥8 ppb Au threshold.
Oriole said that the results had extended the east-west trending anomalous zone at Mbe licence by a further kilometre and identified a 1.5km parallel trend to the north.
Mineralisation occurs as a series of en-echelon, or structurally-controlled, trends occupying a 12.5km long by 3km wide corridor.
The company has also identified multi-kilometre anomalies within the Pokor (Grid 3) and Niambaram (Grid 4) permits.
Oriole will rank all the targets and plan follow-up programmes before the new field season.
DEPOSITS
Chief executive Tim Livesey added that the company was extremely encouraged by the results.
“The return of yet more successful results from this second phase of targeted soil sampling, which was based on previous positive results from the prospect-wide stream sediment programme in 2021, really does appear to confirm our proposition that the CLP covers a brand-new gold district in central Cameroon.
“As with all early-stage exploration, this is a simple numbers game.
“The more strong, gold-in-soil targets we can identify in the early stages of exploration, the more chance we have of discovering multiple new gold deposits as we progress our programmes.
“The Eastern CLP covers over 70km strike length of the Tcholliré- Banyo Shear Zone (TBSZ), a wide corridor of structural deformation that appears to be controlling the location of multiple potential gold targets on our ground.”