Oriole Resources PLC (AIM: ORR) has identified a new mineralized zone within the license areas of its Bibemi project in Cameroon.
Sampling at the new prospect, Lawa West, revealed 17 rock chips grading over 0.5 grams per tonne (g/t) gold from quartz vein material, with the best results being 54.50 g/t Au and 38.40 g/t Au.
Highlights
· Recent mapping within the wider Bibemi licence has extended the mineralised strike length of the Lawa West prospect to 6 kilometres (‘km’).
· Results from 163 selected vein rock-chip samples have returned 17 samples grading over 0.5 grammes per tonne (‘g/t’) gold (‘Au’) from quartz vein material, with best results of 54.50g/t Au and 38.40g/t Au.
· Mineralised quartz and quartz-tourmaline veins outcrop in the same litho-structural setting as the main Bakassi Zone 1 prospect (‘Bakassi Zone 1’ or ‘BZ1’), where the Company has defined a maiden Mineral Resource Estimate (‘MRE’) of 375,000 contained troy ounces (‘oz’) grading 2.30g/t Au.
· The total confirmed mineralised trend at Bibemi now stands at 17 km.
· A number of north-east trending mineralised potential corridors have been outlined, presenting further opportunities for drill testing and future resource definition.
· Follow-up work will be considered as part of future programmes at the Project.
Mapping at Lawa West has also extended the mineralized strike length to 6 kilometres, increasing the total mineralized trend at Bibemi to 17 kilometres.
Partner BCM International is currently funding up to US$4 million in exploration expenditure in exchange for up to a 50% interest in the project.
Martin Rosser, Chief Executive, commented, “The results reported for Lawa West are encouraging as they significantly expand the potential mineralized corridor length of the prospect and the overall system at Bibemi.
“More generally, this bodes well for the discovery of additional sources of mineralized material within the project license that could be processed at a central mineral processing plant at Bibemi.”
