Oriole reports final drilling results

The programme was fully funded by BCM International ('BCM'), which has acquired an initial 10% interest and is earning up to a further 40% interest by spending up to US$4 million on exploration. Bibemi currently has an Inferred Mineral Resource Estimate ('MRE') of 375,000 ounces ('oz') contained gold ('Au'), grading 2.30 grammes per tonne ('g/t') gold, which was announced in January 2024, based only on drilling data from Phases 1 to 4 and a US$2,000/oz Au gold price. This MRE will now be updated to include data from the Phase 5 drilling programme and using an appropriate gold price.

Highlights

• Phase 5 drilling programme recently completed over three sub prospects: BZ1-MRE, BZ1-NW, and BZ1-SW. At BZ1-MRE, drilling has reduced drill fence line spacing to around 50 m over the existing MRE main pit design.
• Results for the final seven drill holes in the BZ1-MRE target (BBDD0103-109) show they are all mineralised, with a total of 49 reported intervals (using a 0.20g/t Au lower cut-off).
• The results, which all fall within the existing MRE pit shell design, have successfully demonstrated that the mineralisation continues between the existing fence lines, and that there is scope to expand and partially upgrade the resource to the Measured and/or Indicated Australasian Joint Ore Reserve Committee (JORC) Code categories.
• With Phase 5 complete, an independent structural review is underway to help refine the geological and mineralisation model. This will give the key inputs for the next independent consultant's MRE upgrade using an appropriate gold price. This should be completed in 2Q25.
• As part of the ongoing Exploitation Licence Application (ELA) process, the company has also submitted an updated Environmental and Social Impact Assessment (ESIA) report and is about to complete more advanced metallurgical test work to determine the appropriate mineral processing flow sheet.

Chief Executive Officer of Oriole Resources, Martin Rosser, said:

"With the completion of Phase 5 drilling at Bibemi, which returned more encouraging gold intersections, we can now look forward to an updated independent consultant's mineral resource estimate, with scope to expand and partially upgrade it to the Measured and/or Indicated JORC Code categories. Moreover, with the completion of important technical and other requisite studies, we expect to be able to advance significantly the Exploitation Licence Application lodged with the Cameroon Mines Ministry."

Read the article online at: https://www.globalminingreview.com/mining/18032025/oriole-reports-final-drilling-results/