Oriole Resources updates on Bibemi and their exploration roadmap in West Africa
Oriole Resources PLC s (LON:ORR) Tim Livesey catches up with Proactive London after starting their regional mapping and stream sediment sampling programme at the Central Licence project in Cameroon.
Livesey explains their controlling position in Reservoir Minerals Cameroon Sarl, for its early-stage exploration licences in Cameroon.
He goes on to cover its Senala project in Senegal as well as their interest in Thani Stratex Djibouti Limited.
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Oriole Resources secures majority stake in Reservoir Minerals Cameroon
Tue, 6th Apr 2021 14:31
(Alliance News) - Oriole Resources PLC on Tuesday said it has acquired a 51% interest in Reservoir Minerals Cameroon Sarl for its early-stage exploration licences.
RMC is the holding company for the Bibemi and Wapouze orogenic gold projects in northern Cameroon. Oriole said it acquired at no additional cost a majority interest in RMC s three newly granted licences in central Cameroon.
AIM-listed Oriole recently completed USD1.6 million of exploration funding over two years at the Bibemi and Wapouze projects, and has now formalised its 51% ownership of RMC.
Oriole said it expected to reach its second expenditure commitment, giving it a 90% interest in licences in the five Cameroonian mining projects, once the ongoing drilling programme at Bibemi is completed.