Oriole Resources PLC says first drill hole confirms Bibemi proof of concept

Oriole Resources PLC (LON:ORR) said the first hole of a planned 28-hole programme at Bibemi in Cameroon has confirmed the proof of concept.

Best grades were one metre grading 4.09 grammes per tonne gold and 1m grading 0.67 g/t while the hole confirmed continuity of the orogenic gold system to more than 90m below surface.

The ongoing 28-hole programme is now approximately 50% complete and further results are expected throughout the second quarter, Oriole added.

Under the terms of its option agreement, completion of the drilling programme at Bibemi should see Oriole satisfy the conditions to earn a 90% interest both in that project and Wapouzé.

Tim Livesey, Oriole’s chief executive, said:  “We are extremely pleased that, as we hoped, our first hole of the maiden drill programme at Bibemi has given us proof of concept for the orogenic systems we are exploring in Cameroon.

 “We have seen evidence of much wider zones of alteration and veining in subsequent holes elsewhere in the Bibemi systems and we are confident we will show continued evidence of vertical extension to the already identified surface anomalies in the four priority areas being targeted in this early programme.

  “With a large quantity of high-quality structural data coming from this first phase orientated core programme, we expect to further refine our exploration targeting during the summer.