Step-Out Drilling Confirms Further Mineralisation at the MB01-S Gold Deposit
Oriole Resources PLC (AIM: ORR) said further step-out drilling at its MB01-S gold deposit in Cameroon has returned additional mineralised intersections, supporting the potential for a resource increase later this quarter.
The AIM-listed gold exploration and development company said results from holes MBDD045 to MBDD047 at the Mbe project returned 34 mineralised gold intersections.
The Mbe project is 50% owned by Oriole and currently has a JORC inferred mineral resource estimate of 1.23 million ounces of contained gold across the MB01-S and MB01-N deposits.
At MB01-S, the current resource stands at 870,000 ounces of contained gold. Oriole said the latest results support the potential for an increase when an updated mineral resource estimate is published later in the third quarter.
Key results included 6.00 metres at 2.41 grams per tonne gold from 84.60 metres in hole MBDD045, including 1.00 metre at 13.00 grams per tonne gold. The same hole also returned 4.00 metres at 2.73 grams per tonne gold from 32.40 metres, including 1.00 metre at 8.42 grams per tonne gold.
Hole MBDD047 returned 3.00 metres at 4.16 grams per tonne gold from 123.30 metres, including 1.00 metre at 12.00 grams per tonne gold. It also intersected 4.00 metres at 2.43 grams per tonne gold from 52.30 metres, including 1.00 metre at 6.65 grams per tonne gold.
Oriole said hole MBDD045 was drilled into the westernmost soil anomaly at MB01-S and supports the depth extension of mineralisation in that area.
The company added that mineralisation in MBDD047 correlates with previously reported intersections from holes MBDD024 and MBDD044, with the north-west trending zone now extending over an estimated 300-metre strike length.
Chief executive Martin Rosser said the latest step-out drilling results had returned further encouraging mineralised intersections, supporting a possible westward and southward extension of the deposit.
Results from the final two holes in the programme, MBDD048 and MBDD049, are still awaited. Once received, Oriole plans to prepare an updated JORC mineral resource estimate for MB01-S, with publication expected in early Q3 2026.
