Business
Bibemi Exploration Update, Cameroon
Bibemi Exploration Update, Cameroon.
About this update from Oriole Resources Plc
[{"type":"text","content":"\n\nOriole Resources PLC \n('Oriole Resources' or 'the Company' or 'the Group')\n \nBibemi Exploration Update, Cameroon\n \nOriole Resources (AIM: ORR), the AIM-quoted exploration company focussed on West Africa, provides an exploration update on its 90%-owned Bibemi orogenic gold project ('Bibemi' or the 'Project') in Cameroon, where, following the delivery of a maiden JORC Mineral Resource Estimate ('Resource') and Exploration Target last year (announcement dated 12 December 2022), a follow-up geophysics (ground magnetics) programme has recently been completed to aid further drill targeting.\n \n \nHighlights\n \n· In December 2022, the Company reported a maiden JORC-compliant Resource of 305,000 Troy ounces ('oz') grading 2.19 grammes per tonne ('g/t') gold ('Au') for Bakassi Zone 1, one of four prospects at the Project;\n· An additional JORC Exploration Target at Bakassi Zone 1 is estimated to be between 1.5 and 2.2 million tonnes at grades ranging from 1.10 to 2.10 g/t for between an additional 53,000 and 148,000 oz of Au;\n· Both estimates remain open at depth and along strike to the northeast;\n· There exists significant potential to expand the Resource at Bakassi Zone 1 and to identify additional resources at the other three prospects on the licence, Bakassi Zone 2, Lawa West and Lawa East, which are all located within a few kilometres ('km') of Bakassi Zone 1;\n· An infill ground magnetics programme has recently been completed at the Project to provide more complete and detailed coverage than the prospect-level data acquired in 2022 (announcement 30 May 2022). Processing of the data, planned for H2-2023, will aid drill targeting for Resource expansion at Bakassi Zone 1 as well as at the remaining three prospects, each of which shows evidence of gold mineralisation;\n· Local-level technical studies, including a baseline Environmental Impact Assessment, have also commenced and will continue throughout H2-2023.\n \n \nOriole Resources CEO, Tim Livesey, said: \"Following the delivery of our JORC-compliant maiden Resource in December, our team has focused on the identification of additional targets to expand and extend the global resource at the Project.\n\"Th...