Business
Mobilisation of Drill Rig to Bibemi Project
Mobilisation of Drill Rig to Bibemi Project.
About this update from Oriole Resources Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 9361Z\n Oriole Resources PLC\n 24 September 2020\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 Mobilisation of Drill Rig to Bibemi Project, Cameroon\n \n \n \n \n \n Oriole Resources PLC (AIM: ORR), the AIM-quoted exploration company focussed on West Africa, is pleased to announce that it has signed a 3,000 metre ('m') diamond drilling contract with Capital Limited ('Capital') with respect to its Bibemi exploration licence in Cameroon ('Bibemi' or 'the Project'). It is anticipated that mobilisation of equipment will take approximately six to eight weeks, which will enable the Company to commence its planned maiden drilling programme at the Project during Q4-2020 (announcement dated 11 May 2020).\n \n \n \n \n \n \n \n \n Highlights\n \n \n \n \n \n · \n Capital appointed as drill contractor for Cameroon;\n \n \n · \n Contract signed for an initial 3,000m of diamond drilling;\n \n \n · \n 17 drill holes already identified and pegged within the high-grade Bakassi area ('Bakassi' or 'the Prospect') for a planned 1,940m;\n \n \n · \n The programme will focus on testing \n the depth-extension of mineralisation identified to date;\n \n \n · \n Further targeting planned at the northern end of Bakassi, which remains open along strike;\n \n \n · \n Mobilisation of equipment to site is now underway and is expected to take six to eight weeks;\n \n \n · \n Maiden drilling programme at Bakassi expected to commence during Q4-2020.\n \n \n \n \n \n Oriole Resources CEO, Tim Livesey, said\n : \n \"We are very pleased that the mobilisation of the equipment for the drill programme at Bibemi, which was delayed due to the COVID-19 pandemic, has begun. \n \n \"We are confident that Bibemi will continue to build on the good results we've already yielded from the rock chip sampling and trenching programmes, and it will be great to get some vertical extension to the significant trends the team have already identified on surface. \n \"Additionally, following the completion of the drill programme, we will have achieved an investment milestone at Bibemi having satisfied the earn-in conditions to vest at 90% of the Project.\n \n \"We look forward to sharing the results of our drill programme with our sharehol...