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IAMGOLD Initiates Year 3 Earn-in at Senala
IAMGOLD Initiates Year 3 Earn-in at Senala.
About this update from Oriole Resources Plc
[{"type":"text","content":"\n \n \n RNS Number : 8398F\n Oriole Resources PLC\n 12 March 2020\n \n \n \n Oriole Resources PLC\n \n ('Oriole' or 'the Company')\n \n IAMGOLD Initiates Year 3 Earn-in at Senala\n \n \n \n \n Oriole Resources, the AIM-quoted exploration company focussed on West Africa, provides an update on its Senala project ('Senala' or the 'Project') in Senegal, where joint venture partner \n IAMGOLD Corporation ('IAMGOLD') has the option to spend up to US$8 million to earn a 70 per cent interest (announcement dated 1 March 2018).\n \n \n \n \n \n Following the recent successful application for a new licence at the Project, providing security of tenure for up to a further 10 years (Announcement dated 21 January 2020), IAMGOLD has indicated that it will shortly be commencing its Year 3 programme.\n \n \n \n \n \n Further Details\n \n \n \n \n \n Since signing the option agreement in March 2018, IAMGOLD has focused on the Madina Bafé prospect in the south of Senala, where best results to date include 9.60metres ('m') grading 16.08 grammes per tonne ('g/t') gold ('Au') from 15.10m (MBDD-002), 15.00m grading 6.10 g/t Au from 14.00m and 8.00m grading 2.56 g/t Au from 76.00m (announcements dated 16 July 2014 and 6 February 2018). Madina Bafé lies within 10 kilometres of the 2.5 million-ounce Boto gold project, where around US$30 million of investment in infrastructure has recently been announced ahead of a construction decision during H1-2020, and has the potential to be a satellite deposit (IAMGOLD Q4 2019 Results). \n \n \n \n \n \n In November 2019, IAMGOLD completed its 2019/20 work programme, with air core ('AC') drilling at the Saroudia prospect, immediately north of Madina Bafé (announcement dated 20 November 2019). A total of 3,158m were drilled in 454 holes (200m x 50m spacing) to test possible extensions of the surface Au anomalism already defined by Oriole, with a single sample taken in each hole at the saprolite interface. No additional trends were identified at Saroudia and so no further work is planned for this prospect. \n \n \n \n \n \n IAMGOLD has confirmed that it will now move northwards to commence drilling at the Faré prospect. \n \n \n Faré is the most advanced prospect within the Senala licence and the Company believes it has potential to host a standalone...