Oriole Resources has confirmed the discovery of gold mineralisation with a commendable gradation of 25.1 g/t gold from pit sampling and 256 g/t gold from outcrop sampling along a 3-kilometer-long target at the Mbe project in Cameroon.
The soil sampling was conducted by its partner, BCM International.
Out of a total of 639 samples, 155 (or more) contained gold with a grade of 1 g/t or higher, with 13 of those achieving a grade greater than 10 g/t.
The more favourable outcomes were obtained from outcrop sampling at 256 g/t, pit sampling at 25 g/t, 23 g/t, 9.9 g/t, and 8.7 g/t, and outcrop sampling at 75 g/t, 33 g/t, and 22 g/t.
Structure-based mapping of the pits has been finished by BCM. The results are now being put together to help find discrete data populations and figure out how the gold is distributed.
Oriole's five Eastern Central Licence Package (CLP) licences show a corridor of gold mineralisation, according to Oriole chief executive Tim Livesey.
Initial indications from Mbe, which designate this region of Cameroon as a potential new gold district, suggest that developing it could yield a tremendous opportunity.
Oriole will continue to manage and control the remaining Eastern CLP licences.
The Eastern CLP licences consist of Tenekou, Niambaram, Pokor, Ndom, and Mbe projects.
Oriole Resources owns 90% of the Mbe project, while BCM has already paid $550,000 of the stipulated sum for signature payments.
For $4 million in exploration funding, $1 million in signature payments, and future resource-linked success-based payments, BCM will get an opportunity to earn up to 50% interest in the company.
Mathew Nyaungwa, Editor in Chief of the African Bureau, Rough&Polished
