Oriole Resources completed phase five drilling at Bibemi, Cameroon, revealing positive gold intersections that suggest potential resource expansion. Funded by BCM International, this phase targeted Bakassi Zone 1, improving geological understanding and facilitating future resource estimates. Ongoing studies and updated assessments are in progress to support exploitation license applications.
Oriole Resources, a gold exploration firm in West and Central Africa, has concluded its phase five drilling program at the Bibemi gold project in Cameroon. The results indicate potential for expanding and enhancing the current mineral resource estimate (MRE). This phase included 56 drill holes and approximately 6,900 meters of drilling, funded entirely by BCM International, which is acquiring up to a 50% stake through a $4 million investment.
CEO Martin Rosser noted that the positive results from phase five drilling at Bibemi pave the way for an independent update to the mineral resource estimate. He highlighted the possibility of expanding and upgrading the resource classification to the Measured and/or Indicated categories according to the JORC Code. Furthermore, the completion of significant technical studies will support advancing the exploitation license application made to the Cameroon Mines Ministry.
Currently, SEMS Exploration Services is conducting an independent structural review to enhance the geological model, which will inform the next MRE update by Forge International, anticipated by Q2 of 2025. Additionally, Oriole Resources is finalizing an updated environmental and social impact assessment and conducting metallurgical testing to fine-tune the mineral processing flow sheet as part of the ongoing exploitation license application process.
The fifth drilling phase specifically targeted three sub-prospects within Bakassi Zone 1, aiming for reduced drilling spacing to approximately 50 meters over the central pit design. The results from the last seven drill holes at the BZ1-MRE target all showed mineralization, with 49 intervals reported at a 0.20 grams per tonne (g/t) gold lower cut-off.
The Bibemi project, covering an area of 177 km², has exhibited shear-hosted gold mineralization across four main prospects. A previous exploration phase yielded a MRE of 5.1 million tonnes at a grade of 2.30 g/t gold, amounting to approximately 375,000 oz, as reported in January 2024. Recent drill results validate the continuity of mineralization and highlight the potential for resource expansion near the surface. In January 2024, Oriole signed a definitive earn-in agreement with BCM International for the Mbe gold project in Cameroon, following an earlier deal for the Bibemi gold license that advances development at Mbe.
Oriole Resources has made significant strides in its gold exploration efforts at the Bibemi project in Cameroon. Completion of the fifth drilling phase has revealed promising results for expanding the mineral resource estimate. With ongoing studies and environmental assessments, the company is well-positioned to advance its exploitation license application, further solidifying its commitment to gold exploration and mining in the region.
Original Source: www.mining-technology.com
