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GOOD

Oriole Resources Announces Further Gold Mineralization at Mbe Project in Cameroon

Why we think this is good

The RNS provides a positive update on the ongoing exploration program at Oriole Resources' Mbe project in Cameroon, with the latest drilling results continuing to demonstrate wide zones of bulk-tonnage gold mineralization. The company has a clear timeline for the project's development, with plans to publish a maiden mineral resource estimate in H2-2025. Additionally, the strategic partnership with BCM International, which is earning an interest in the project, is a positive development. Overall, the news is a good update on the company's exploration progress, but does not meet the criteria for a 'very good' sentiment score as there are no profit upgrades or trading significantly ahead of expectations.

Key Points

  • Maiden drilling program at Mbe project approximately 44% complete
  • Latest drilling results return more than 30 gold mineralized intersections
  • Potential for large-scale open pit mining based on the mineralization identified
  • Company plans to publish maiden mineral resource estimate in H2-2025
  • BCM International earning up to 50% interest in Mbe and Bibemi projects

Summary

The gold exploration company reports further promising results from its Mbe project in Cameroon, with wide zones of gold mineralization identified through the ongoing drilling program.

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. The latest drilling results have returned more than 30 gold mineralized intersections, including 23.10m at 0.71g/t Au and 13.80m at 0.61g/t Au. The company believes the system could be amenable to large-scale open pit mining. The maiden drilling program is approximately 44% complete, with plans to publish a maiden mineral resource estimate in H2-2025. Additionally, BCM International is earning up to a 50% interest in the Mbe and Bibemi projects by spending up to US$8 million on exploration.

Key Dates

Q3 2025
Completion of the current drilling program
H2 2025
Publication of maiden mineral resource estimate
GENERAL UPDATE