Oriole Resources, a gold exploration company operating in West and Central Africa, has completed the phase five drilling programme at its Bibemi gold project in Cameroon.
The results suggest there is scope to expand and upgrade the existing mineral resource estimate (MRE).
The programme, comprising 56 holes and approximately 6,900m of drilling, was fully funded by BCM International, which is earning up to a 50% interest in the project by investing up to $4m.
Oriole Resources CEO Martin Rosser said: “With the completion of phase five drilling at Bibemi, which returned more encouraging gold intersections, we can now look forward to an updated independent consultant’s mineral resource estimate, with scope to expand and partially upgrade it to the Measured and/or Indicated JORC Code categories.
“Moreover, with the completion of important technical and other requisite studies, we expect to be able to advance significantly the exploitation licence application lodged with the Cameroon Mines Ministry.”
An independent structural review by SEMS Exploration Services is under way to refine the geological model, which will inform the next MRE update by Forge International, expected in the second quarter of 2025.
In addition to the drilling programme, Oriole Resources has submitted an updated environmental and social impact assessment report and is finalising advanced metallurgical testing to determine the optimal mineral processing flow sheet, as part of the ongoing exploitation licence application process.
The phase five drilling targeted three sub-prospects within Bakassi Zone 1, with the aim of reducing drill fence line spacing to around 50m over the main pit design.
Results from the final seven drill-holes at the BZ1-MRE target are all mineralised, with 49 reported intervals using a 0.20 grams per tonne (g/t) of gold lower cut-off.
The Bibemi project, spanning 177km², has shown shear-hosted gold mineralisation across four main prospects.
Previous exploration phases focused on Bakassi Zone 1, where an MRE of 5.1 million tonnes grading 2.30g/t of gold for approximately 375,000oz was reported in January 2024.
The recent drilling results within the existing MRE pit shell confirm the continuity of mineralisation and the potential for near-surface resource expansion.
In January 2024, Oriole Resources signed a definitive earn-in deal with BCM International for the Mbe gold project in Cameroon, building on a prior agreement for the Bibemi gold licence and advancing Mbe’s development.
