12 April 2021 | 15:11pm
StockMarketWire.com - Oriole Resources, the AIM-quoted exploration company focussed on West Africa, announced that visible free gold mineralisation has been identified at its 51% owned Bibemi gold project in Cameroon.
The company reported that visible free gold mineralisation has been identified in multiple holes at the Lawa West prospect and the Lawa East prospect.
The programme is focussed on testing the depth extension of surface gold mineralisation identified at four key prospects - Bakassi Zone 1, Bakassi Zone 2, Lawa West and Lawa East - within a 8.3-kilometre-long orogenic gold system that remains open to the southwest.
The gold is hosted by quartz-tourmaline veins up to one metre wide, at a downhole depth of approximately 70 metres, and has a strong association with pyrite, occurring as both finely disseminated and coarser grains, some of which is visible in the pre-cut core in the holes at Lawa West.
6 April 2021 | 09:16am
StockMarketWire.com - West Africa focused Oriole Resources said it had secured a controlling position in Reservoir Minerals Cameroon for its early-stage exploration licences in Cameroon.
The company had formalised its 51% ownership of the local holding company, Reservoir Minerals Cameroon, that also held three of the newly-granted licences in central Cameroon.
The move followed the completion of an initial funding commitment of $1.56 million over two years at the Bibemi and Wapouze projects.
Completion of a drilling programme at Bibemi was expected to see the company meet its second expenditure commitment to acquire a 90% interest in all five licences.