Oriole Resources has reported a maiden Inferred JORC-compliant MRE of 305,000 Troy oz grading 2.19 g/t gold for Bakassi Zone 1, one of four prospects at its 90%-owned Bibemi orogenic gold project in Cameroon.
Oriole CEO, Tim Livesey, said: “An excellent early result from the past season’s drilling at the Bakassi Zone 1 prospect on our Bibemi licence in Cameroon, which we believe is the first ever JORC MRE for orogenic gold in Cameroon. We are very pleased to have delivered an initial JORC MRE of significant size in a cost-effective manner and within such a short timeframe, despite the impacts of the covid pandemic.
“This was the first drilling ever carried out at Bibemi and it clearly demonstrates the massive opportunity that exists in this underexplored region. The Bakassi Zone 1 prospect is open at depth with the current Resource model reaching down to 260 m. It is also open along strike to the north-east and there is additional potential within three kilometres of this initial pit design at the Bakassi Zone 2, Lawa West and Lawa East prospects. Collectively these prospects have the potential to deliver many more ounces.
“We are delighted that our early move into Cameroon continues to deliver success, both here at Bibemi and in the expansive Central Licence Package. The Oriole team identified the critical mineralising controls following the early work of mapping and trenching.
“The first phases of prospect drilling and the structural reviews of the oriented core drilling programme confirmed this, and the information has been used to deliver the JORC MRE. With obvious similarities to the extensive gold-in-soils anomalism identified in the last field season across our Central Licence Package, the Oriole team’s exploration success at Bibemi reconfirms our commitment to Cameroon as a new frontier for gold exploration and mining. Cameroon has all the hallmarks of an underexplored mining district, with huge opportunity for early movers such as Oriole Resources.”