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Maiden JORC Resource for Bibemi Gold Project
Maiden JORC Resource for Bibemi Gold Project.
About this update from Oriole Resources Plc
[{"type":"text","content":"\n \n \n \n Oriole Resources PLC \n \n \n \n ('Oriole Resources' or 'the Company' or 'the Group')\n \n \n \n \n \n \n \n \n Maiden JORC Resource for Bibemi Gold Project in Cameroon\n \n \n \n \n 305,000 oz grading 2.19 g/t gold Inferred\n \n \n \n \n \n \n Oriole Resources PLC, the AIM-quoted gold exploration company focussed on West Africa, is pleased to report a maiden Inferred JORC-compliant Mineral Resource Estimate ('MRE' or the '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 its 90%-owned Bibemi orogenic gold project ('Bibemi' or the 'Project') in Cameroon\n .\n \n \n \n Highlights\n \n \n \n \n \n \n ·\n A pit optimisation study has been completed to upgrade a portion of the previously-reported JORC Exploration Target\n for the Bakassi Zone 1\n prospect (announcement dated 10 October 2022) to a maiden JORC\n Resource;\n \n \n ·\n The pit-constrained Resource is estimated to be 4.3 million tonnes grading 2.19\n g/t Au for approximately\n 305,000 oz Au in the JORC Inferred Resources category;\n \n \n ·\n The entire Resource has been defined within the limit of a \n US$1,800\n /oz gold price pit shell;\n \n \n ·\n The Resource has been modelled over a strike length of 1,220 metres ('m') and to a depth of 260m below surface, using a cut-off grade of 0.30 g/t Au and a top-cut of 20 g/t Au;\n \n \n ·\n The residual JORC Exploration Target, not including the Resource blocks, is estimated to be between 1.5 and 2.2 million tonnes at grades ranging from\n 1.10 to 2.10 g/t for between an additional 53,000 and 148,000\n oz of\n Au[[1]]\n ;\n \n \n ·\n Both estimates remain open at depth and along strike to the northeast;\n \n \n ·\n The Resource and updated Exploration Target have been compiled for Oriole\n by independent consultant \n Forge International Limited ('Forge'), who has recently completed a site visit to Bibemi in accordance with JORC guidelines\n ;\n \n \n ·\n There exists significant potential to expand the MRE 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 \n \n ·\n An infill geophysics programme is planned for H1-2023, to aid drill ...