Oriole Resources PLC (AIM: ORR) has completed its inaugural 3,000-metre drilling campaign at the MB01-N target within the Mbe gold project in Cameroon, marking a key milestone in the asset’s development. As a result, its partner, BCM International Limited, has earned a 50% beneficial interest in the project.
Assay results for six drill holes remain outstanding and are expected in the first quarter of 2026. In parallel, the company intends to advance work toward a maiden JORC-compliant Resource estimate for MB01-N, which would sit alongside the existing 870,000-ounce JORC Resource at the nearby MB01-S deposit.
Looking ahead, a fully funded step-out drilling programme is scheduled to begin at MB01-S in the second quarter of 2026, aimed at expanding the current resource base.
Highlights
o The Programme has been completed for a total of 3,000.40m drilled in 15 holes.
o BCM has now earned a 50% beneficial interest in Mbe and the administrative work to formalise that interest, including the drafting of a joint venture agreement, is underway.
o Results for six holes are outstanding and are expected later in Q1-2026.
o On receiving these final results, the Company’s consultant will prepare a maiden JORC Resource for the MB01-N target to add to the existing 870,000oz contained gold JORC Resource at the nearby MB01-S deposit.
o A fully funded step-out drilling programme is scheduled to commence at MB01-S in Q2-2026.
Chief Executive Officer of Oriole Resources, Martin Rosser, said: “We are delighted that the maiden drilling programme at the MB01-N target has been completed. The drilling crew and support personnel have worked tirelessly to achieve this on time and with excellent core recovery, and we thank them for their efforts. We look forward to reporting the remaining drill holes results and the consultant’s maiden MRE report.”
