Oriole Resources has completed phase five drilling at the Bibemi gold project in Cameroon, revealing positive gold intersections. The program, funded by BCM International, involved 56 drill holes and indicates potential for expanding the mineral resource estimate. An independent review will aid in updating the resource estimate, while environmental assessments and metallurgical testing are ongoing. The continuity of mineralization suggests opportunities for near-surface resource expansion, positioning Oriole for future growth.
Oriole Resources, a gold exploration company active in West and Central Africa, has completed its fifth phase of drilling at the Bibemi gold project in Cameroon. The positive results from this phase indicate potential for the expansion and enhancement of the current mineral resource estimate (MRE). This drilling program consisted of 56 holes over approximately 6,900 meters and was entirely funded by BCM International, which has the opportunity to acquire up to a 50% stake in the project through a $4 million investment.
Martin Rosser, CEO of Oriole Resources, stated that the completion of phase five drilling returned encouraging gold intersections. This paves the way for an updated mineral resource estimate from an independent consultant, with the possibility of expanding and upgrading it to the Measured and Indicated JORC Code categories. Additionally, the company anticipates significant advancements in the exploitation license application submitted to the Cameroon Mines Ministry, following the completion of essential technical studies.
An independent structural review by SEMS Exploration Services is currently underway to enhance the geological model, which will guide the next MRE update by Forge International, expected in the second quarter of 2025. Moreover, Oriole has submitted an updated environmental and social impact assessment report and is finalizing advanced metallurgical testing to determine the most effective mineral processing flow sheet, as part of its ongoing efforts for the exploitation license application.
The phase five drilling program specifically targeted three sub-prospects within Bakassi Zone 1, aiming to reduce the drill fence line spacing to approximately 50 meters over the primary pit design. The final seven drill holes at the BZ1-MRE target demonstrated mineralization, with 49 intervals recorded at a lower cut-off of 0.20 grams per tonne (g/t) of gold. The Bibemi project encompasses 177 square kilometers and exhibits shear-hosted gold mineralization across four significant prospects. Previous exploration efforts reported an MRE of 5.1 million tonnes with a grade of 2.30 g/t gold, translating to approximately 375,000 ounces documented in January 2024.
Recent drilling results within the existing MRE pit shell affirm the continuity of mineralization and suggest the possibility of expanding resources located close to the surface. In January 2024, Oriole Resources and BCM International formalized an earn-in agreement for the Mbe gold project in Cameroon, which builds upon their earlier accord regarding the Bibemi gold license and advances the development of the Mbe site.
In conclusion, Oriole Resources has achieved significant progress at the Bibemi gold project, showcasing promising drilling results that suggest potential growth in mineral resources. The company’s partnership with BCM International is expected to facilitate further exploration and advancement of both the Bibemi and Mbe projects. The ongoing studies and assessments indicate a robust future for gold production in the region.
Original Source: www.mining-technology.com
