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Proof of Concept Confirmed at Bibemi Gold Project
Proof of Concept Confirmed at Bibemi Gold Project.
About this update from Oriole Resources Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 1555U\n Oriole Resources PLC\n 31 March 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 Proof of Concept Confirmed at Bibemi Gold Project \n \n \n \n \n \n \n \n \n Oriole Resources PLC (AIM: ORR), the AIM-quoted exploration company focussed on West Africa,\n is pleased to provide an update on its ongoing maiden diamond drilling programme at the Bibemi gold project ('Bibemi') in Cameroon where it is earning up to a 90% interest (announcement dated 12 June 2018). Results\n from the first hole of a planned 28-hole programme have returned best grades of 1 metres ('m') grading 4.09 grammes per tonne ('g/t') gold ('Au') and 1m grading 0.67 g/t Au, confirming the continuity of the orogenic gold system to more than 90m below surface. The ongoing programme of 28 holes is approximately 50% complete and further results are expected throughout Q2.\n \n \n \n \n \n Under the terms of its option agreement with Bureau d'Etudes et d'Investigations Géologico-minières, Géotechniques et Géophysiques SARL ('BEIG3'), \n Oriole is currently exercising its option to acquire a 51% interest in the\n \n Bibemi and Wapouzé projects\n , having spent an initial US$1.56 million. Completion of the drilling programme at Bibemi should see Oriole satisfy the conditions to earn a 90% interest in the projects.\n \n \n \n \n \n \n \n \n Highlights\n \n \n \n \n \n · \n Results from the first hole have confirmed continuity of the orogenic gold system to at least 90m below surface;\n \n \n · \n Best results include 1m grading 4.09 g/t Au and 1m grading 0.67 g/t Au (using a 0.3 g/t Au cut-off), from zones of quartz-tourmaline veining and quartz veining respectively;\n \n \n · \n Structures observed within both zones suggest that the higher grade is associated with previously identified quartz-tourmaline veins and that intersecting vein sets (steeply-dipping and one flat-lying) are being identified downhole, reflecting what is seen at surface in Oriole's previous trenching programmes and in shallow (<4m deep), small scale artisanal workings;\n \n \n · \n The programme is now 50% complete with results from the remaining holes expected to be received throughout Q2;\n \n \n · \n Following expenditure of its ini...