Activities Resume at Senala Gold Project in Senegal

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Gold exploration company, Oriole Resources, announced that activities have resumed at the Senala gold project in Senegal, whereby the company owns a 41.65% interest.

The resumption follows the acquisition of AGEM Senegal Exploration – a wholly owned subsidiary of gold mining company IAMGOLD Corporation – by Moroccan mining company Managem Group. AGEM Senegal Exploration will remain the operator while Managem takes over control of the gold project.

According to Oriole Resources, Managem Group will continue to fund the AGEM Senegal Exploration earn-in on the Senala gold project, with the terms of a 2018 option agreement stipulating that Managem Group has the option to earn up to a maximum 70% interest in the project by 28 February 2024, subject to a total spend of $8 million.

Currently, Managem Group’s exploration team is conducting an update of the litho-structural model to integrate all results achieved to date while a comprehensive 2,000 meter diamond drilling program has been scheduled for later this year.

The program will comprise nine holes, covering the entire 6km length of the main mineralized trend at Faré, which serves as the project’s most advanced prospect. The results from this program are poised to play a crucial role in guiding future exploration initiatives at Faré.

“We are delighted to see activity restart at Faré, where we know there is potential to extend the existing maiden resources at Faré South, identify additional resources at Faré South and Faré North, and to test additional targets identified during the 2022 auger drilling program,” stated Oriole Resources CEO, Tim Livesey, who added that, “We would like to wish Managem great success in the development and advancement of all of its assets in the region and look forward to receiving results from the 2023 program at Senala in due course.”

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Matthew Goosen

Matthew Goosen

Matthew Goosen is a Video Editor and Content Writer at Energy Capital & Power. He holds an Honours Degree in Film and Media Studies at the University of Cape Town and is currently undergoing his Masters Degree. Born in Pretoria and raised internationally, he has been living in Cape Town since 2013.

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