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Oriole Resources PLC - London-based gold exploration company focused in Cameroon and Senegal - Says there is potential to build a volume of mineralised material at a prospect at the Bibemi Gold project in Cameroon. Oriole reports that the first two holes of the ongoing phase four diamond drilling programme have confirmed the existence of mineralised sub-horizontal veins at Bakassi Zone 1. The veins are sulphide-rich and have broader alteration halos than observed in the sub-vertical veins, which could be important in terms of delivering wider zones of mineralisation.
Chief Executive Officer Tim Livesey says: ‘The successful intersection of sub-horizontal extensional veins at Bakassi Zone 1, in addition to the already defined sub-vertical northeast-trending shear veins, continues to support the team's technical assessment of the system. This extensional event appears to have created opportunities for the injection of mineralising fluids, which may in turn, subject to positive assay results, lead to a significant volumetric increase in the known mineralisation in Zone 1.’
Between 2021 and the first quarter of 2022, Oriole completed three phases of diamond drilling for a total of 6,154 metres in 49 holes at Bibemi gold project, which confirmed shear-hosted gold mineralisation at all four prospects. The results, once received, will have the potential to enhance the volume of the company's internal three-dimensional geological and mineralisation model for Bakassi Zone 1, it explains.
Current stock price: down 1.3% at 0.22 pence each on Wednesday in London
12-month change: down 67%
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