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Cameroon Central Licence Package Sampling Results
Cameroon Central Licence Package Sampling Results.
About this update from Oriole Resources Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 1045J\n Oriole Resources PLC\n 19 August 2021\n \n \n \n \n Oriole Resources PLC \n \n \n ('Oriole Resources' or 'the Company' or 'the Group')\n \n \n \n \n \n Initial Stream Sediment Sampling Results for the Central Licence Package in Cameroon\n \n \n \n \n \n Oriole Resources PLC (AIM: ORR), the AIM-quoted exploration company focussed on West Africa, is pleased to provide an update on the \n 3,592 square kilometre ('km\n \n \n 2\n \n \n ') district-scale licence package in Central Cameroon ('Central Licence Package', 'CLP' or the 'Package') that was issued to the Company's 90%-owned subsidiary, Oriole Cameroon SARL, and its 51%-owned subsidiary Reservoir Minerals Cameroon SARL, \n earlier this year (announcement dated 3 February 2021)\n . The minority interests in these companies are held by \n Bureau d'Etudes et d'Investigations Géologico-minières, Géotechniques et Géophysiques SARL\n ('BEIG3'), who have confirmed the Company's 90% beneficial ownership in all of the licences. \n \n \n \n \n \n The licences cover \n Paleo-Proterozoic to Pan-African age rocks and are highly prospective for orogenic-style gold mineralisation. Following a desktop\n remote sensing study that identified 12 initial priority gold targets, the team has been undertaking a Package-wide mapping and stream sediment sampling programme (announcement dated 29 June 2021). That programme has now been completed over the five easternmost licences, with gold results of up to 95 ppb gold ('Au') received for the Niambaram and Tenekou Licences. Samples for the remaining three licences, Pokor, Ndom and Mbe, are in the process of being submitted for analysis and results are expected in Q3 2021. The sampling of the three western licences has been paused for the rainy season and is expected to recommence in Q4 2021.\n \n \n \n \n \n \n \n \n \n Highlights\n \n \n \n \n \n · \n Assay results for gold in 376 stream sediment samples have been received for the Niambaram and Tenekou licences.\n \n \n · \n Results indicate a number of areas of elevated gold in distinct drainage basins, associated with the northeast-trending Tcholliré- Banyo shear zone ('TBSZ') corridor and interpreted north-northwest trending cross-cutting structures.\n \n \n · \n 87 sample sites returned gold values ...