Gold exploration company Oriole Resources has reported high-grade gold findings at its Mbe gold project in Cameroon. Soil sampling from the discovery show a grade of up to 260g per ton and has led the company to identify three additional zones for follow-up exploration.
Oriole Resources has also initiated a trenching program covering 5,500m to provide 3D data by mapping and sampling the soil anomalies. Results from the trenching program are anticipated by mid-2024 and are poised to help define drilling targets for the 2024/2025 field season.
“This will help us to build our geological model and to guide a maiden drilling program in the next field season,” stated Oriole Resources Executive Director Claire Bay. “Results from the initial metallurgical test work are also extremely encouraging and, with a second soil sampling program nearing completion over the wide license area, there exists the potential for further target identification.”
The Mbe license involves a $4 million exploration expenditure from mining contractor BCM International. In exchange, BCM International will receive a 50% interest in the project, including milestone payments based on resource size.
