Oriole Resources PLC completes major sampling programme on Cameroon gold licences
Oriole Resources PLC (AIM:ORR) has completed the latest sampling programme on its 90%-owned Central Licence Package (CLP) in Cameroon.
The district-scale Central Licence Package comprises eight contiguous licences covering 3,592 square kilometres of previously unexplored Paleo-Proterozoic to Pan-African age rocks that are highly prospective for orogenic-style gold mineralisation.
A further 3,114 samples have now been taken from the remaining four ‘Priority 1’ grids.
Samples for Grid 2 and Grid 4 have been dispatched for analysis and results are anticipated by the end of the current quarter or early in the third quarter.
A further 1,239 samples were also completed over an extensional grid at the Mbe licence, along strike from where the company previously reported a best result of 838 parts per billion gold from a 11.5 kilometre anomalous gold-in-soil zone.
Meanwhile, a multi-element review of the pilot area has identified a number of pathfinder elements that will aid future targeting, and geological line mapping over the Mbe anomaly is approximately 70% complete.
The company has also applied for a further licence: ‘Maboum’. This lies to the east of the CLP and is contiguous with the existing package.
“It’s great to see such good progress from our early-stage sampling programmes on the eastern CLP prospects,” said Oriole Resources chief executive Tim Livesey.
“The field crews have been busy with mapping and sample collection – the boots on the ground de-risking that every project requires in the early stages of exploration – trying to cover as much ground as possible before the rains restrict access. Orientation work, utilising multi element data, is providing interesting leads, and the potential for identification of overprinting mineralised systems adds a further layer of opportunity. Through this work, we are seeing yet more evidence that this package of licences has great potential to be a new gold district.”