Business
Senala Joint Venture Update
Senala Joint Venture Update.
About this update from Oriole Resources Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 9614I\n Oriole Resources PLC\n 18 August 2021\n \n \n \n Oriole Resources PLC \n ('Oriole Resources' or 'the Company' or 'the Group')\n \n Senala Joint Venture Update -\n Year 4 RC drilling delivers further excellent intersections at Faré\n \n \n Oriole Resources PLC (AIM: ORR), the AIM-quoted exploration company focussed on West Africa, is pleased to provide an update on its Senala project ('Senala' or the 'Project') in Senegal, where joint venture partner IAMGOLD Corporation ('IAMGOLD') has the option to spend up to US$8 million to earn a 70% interest (announcement dated 1 March 2018). IAMGOLD is currently in Year 4 of that earn-in and has this year completed more than 80% of a two-phase exploration programme for a planned c.11,000 metres ('m') at the Faré and Madina Bafé prospects.\n \n Further to its announcement on 16 August 2021, which reported diamond drilling results of up to 70.00m grading 1.46 grammes per tonne ('g/t') gold ('Au') and 10.00m grading 1.69 g/t Au, respectively, at Faré and Madina Bafé, the Company today reports partial results from the 4,854m Phase 1 reverse circulation ('RC') drilling programme at Faré. Results for 38 out of 42 RC holes, drilled to test near-surface gold mineralisation at the Faré North and Faré Far South anomalies have delivered intersections of up to 11.00m grading 1.22 g/t Au and 35.00m grading 3.61 g/t Au respectively.\n \n Results for the remaining four RC holes, drilled on the southernmost line at Faré Far South, are anticipated later in Q3, alongside results for an initial 3,111m of the planned 5,000m Phase 2 RC drilling at Madina Bafé. The remainder of the programme at Madina Bafé will be drilled in Q4.\n \n \n \n \n \n Summary\n \n \n · Phase 1 RC drilling results received for 38 out of 42 holes at the Faré prospect, drilled to target near-surface mineralisation at the Faré North and Faré Far South gold anomalies. Best intersections (using 0.3 g/t Au cut off) include:\n Faré North\n \n o 11.00m grading 1.22 g/t Au from 5.00m (FARC21-0082)\n \n o \n 2.00m grading 11.74 g/t Au from 84.00m, including 1.00m grading 22.67 g/t Au (FARC21-0101)\n \n \n Faré Far South\n \n o \n 14.00m grading 1.62 g/t Au from 72.00m including 9.00m grading 2.29 g/t Au from 76.00m (F...