Business
Renewal of Eastern CLP in Cameroon
Renewal of Eastern CLP in Cameroon.
About this update from Oriole Resources Plc
[{"type":"text","content":"\n\nOriole Resources PLC \n('Oriole Resources' or 'Oriole' or 'the Company')\n \n Renewal of Eastern Central Licence Package in Cameroon\n \nOriole Resources PLC (AIM: ORR), the AIM-quoted exploration company focussed on West and Central Africa, is delighted to report that it has received two-year renewals for each of its five gold exploration licences in the Eastern Central Licence Package ('Eastern CLP' or the 'Licences'), located in the Adamawa and North regions of Cameroon. The Licences, held through the Company's 90%-owned subsidiary Oriole Cameroon SARL, represent a contiguous, district-scale land package covering 2,266km2 of highly prospective geological terrane.\n \nThe Eastern CLP includes the flagship, 80%-owned Mbe licence ('Mbe'), where BCM International Limited ('BCM'), is currently funding up to US$4 million in exploration expenditure to earn up to a 50% interest. A 5,500 metre trenching programme is underway over the MB01 area at Mbe (announcement dated 4 June 2024), with results anticipated in Q3-2024 and a maiden drilling programme anticipated in Q4-2024.\n \nOriole retains a 90% interest in the other four Eastern CLP licences (Tenekou, Niambaram, Pokor and Ndom), which share a similar geological setting and potential to Mbe.\n \nChief Executive Officer of Oriole Resources, Martin Rosser, said: \"We are pleased to have our Eastern CLP licences renewed and to be undertaking a comprehensive exploration programme on the highly promising Mbe licence. Results from this phase of exploration are eagerly awaited prior to planning and commencing the maiden drilling programme later in the year.\"\n \n** ENDS **\nThe information contained within this announcement is deemed to constitute inside information as stipulated under the retained EU law version of the Market Abuse Regulation (EU) No. 596/2014 (the \"UK MAR\") which is part of UK law by virtue of the European Union (Withdrawal) Act 2018. The information is disclosed in accordance with the Company's obligations under Article 17 of the UK MAR. Upon the publication of this announcement, this inside information is now considered to be in the public domain.\nFor further information please visit www.orioleresources.com, @OrioleResources on Twitter, or contact:\n\n\n\n\nOriole Re...