Oriole Resources Provides Positive Drilling Update at Mbe Project in Cameroon
Why we think this is neutral
This RNS announcement provides an exploration update on the Mbe project in Cameroon, which is not one of the mandatory news types specified. While the results appear positive, without any financial or operational metrics, I cannot determine the overall sentiment.
Key Points
- Results from drill holes MBDD010 and MBDD011 have increased the total number of mineralised gold intersections from the maiden drilling programme to 179
- Mineralisation has been confirmed to a vertical depth of at least 290m, and the system remains open in all directions and at depth
- The fully funded Phase 1 drilling programme at the MB01-S target is almost 70% complete, with 4,527.20m drilled to date
- Results for holes MBDD012 and MBDD013 are expected in late Q2/early Q3 2025
Summary
Oriole Resources PLC (AIM: ORR), the gold exploration company focused on West and Central Africa, has provided an update on its 90% owned Mbe orogenic gold project in Cameroon, including further positive drill results. The highlights include 43 additional gold-bearing intersections, with significant intervals such as 5.00m at 1.86g/t gold, including 3.00m at 2.88g/t gold, and 4.30m at 1.63g/t gold. The drilling program is ongoing, and the company plans to publish a JORC Exploration Target estimation in Q3 2025, followed by a maiden, pit-contained Mineral Resource Estimate in Q4 2025.