Oriole confirms extension of subsurface gold system at Mbe
Aim-listed Oriole Resources has reported further positive drilling results for its 90%-owned Mbe orogenic gold project, in Cameroon.
The company notes that results from holes MBDD014 to MBDD017 have returned multiple gold mineralised intersections from maiden drilling at the MB01-S target.
Results include 1.10 m at 9.35 g/t gold, 2.20 m at 2.47 g/t gold and 3 m at 1.59 g/t gold.
The strike length of subsurface mineralisation has been increased to at least 300 m, underpinning the maiden exploration target published earlier this month.
The system remains open in all directions and at depth.
Following a review of the exploration target geostatistical data, the fully-funded Phase 1 drilling programme at MB01-S has been expanded to 7 050 m in 25 holes.
A total of 5 580.5 m has been drilled to date, with 18 holes (MBDD001-018) completed and a nineteenth hole (MBDD019) is nearing completion.
Following completion of the maiden drilling programme, the company anticipates publishing an independent consultant's maiden, pit-constrained mineral resource estimate (MRE) for MB01-S in the fourth quarter of this year.
"The latest set of drilling results continues to support our expectation, based on the recently publish Joint Ore Reserve Committee exploration target, of defining a resource of considerable scale at MB01-S.
“We now have delineated a substantial gold system which, importantly, remains open in all directions and at depth and we look forward to reporting the maiden MRE in the fourth quarter of this year,” says CEO Martin Rosser.
Oriole says the lithologies found in these holes correlate well with those seen in previously reported holes, and the style of mineralisation is consistent with the rest of the Mbe deposit.
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