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.”