Oriole Resources has completed phase five drilling at the Bibemi gold project in Cameroon, unveiling promising results that may allow for an expansion and upgrade of the mineral resource estimate. Funded by BCM International, the program involved 56 boreholes. CEO Martin Rosser expressed confidence in preparing for an updated resource estimate and progressing in exploitation license applications. The project shows overall continuity of mineralization, indicating strong potential for near-surface resource growth.
Oriole Resources, a prominent gold exploration firm in West and Central Africa, has recently finalized its phase five drilling program at the Bibemi gold project in Cameroon. The positive findings indicate potential for both expanding and upgrading the current mineral resource estimate (MRE). The initiative included 56 boreholes and approximately 6,900 meters of drilling, fully financed by BCM International, which is acquiring up to a 50% stake in the project through an investment of up to $4 million.
Martin Rosser, the CEO of Oriole Resources, expressed optimism regarding the results, stating, “With the completion of phase five drilling at Bibemi, which returned more encouraging gold intersections, we can now look forward to an updated independent consultant’s mineral resource estimate.” He further noted the possibilities to expand and upgrade the estimate towards the Measured or Indicated JORC Code categories. Additionally, significant advancements in the exploitation license application, submitted to the Cameroon Mines Ministry, are anticipated.
An independent structural review by SEMS Exploration Services is currently being conducted to enhance the geological model, which will provide insights for the upcoming MRE update by Forge International, expected in the second quarter of 2025. Alongside the drilling activities, Oriole Resources is completing an updated environmental and social impact assessment and finalizing the advanced metallurgical testing, key components of the exploitation license application process.
The recent drilling focused on three sub-prospects within Bakassi Zone 1, striving to decrease drill fence line spacing to approximately 50 meters over the primary pit design. Notably, results from the last seven drill-holes at the BZ1-MRE target displayed mineralization across 49 intervals, adhering to a gold lower cut-off of 0.20 grams per tonne (g/t). The Bibemi project, covering an area of 177 square kilometers, has demonstrated shear-hosted gold mineralization across four principal prospects.
Earlier exploration phases zeroed in on Bakassi Zone 1, which reported an MRE of 5.1 million tonnes with a gold grading of 2.30 g/t, correlating to roughly 375,000 ounces as of January 2024. The latest drilling results within the existing MRE pit outline not only confirm mineralization continuity but also highlight opportunities for near-surface resource expansion. Additionally, in January 2024, Oriole Resources secured a definitive earn-in agreement with BCM International for the Mbe gold project in Cameroon, thus advancing Mbe’s development following a prior agreement for the Bibemi gold license.
In summary, Oriole Resources has reported promising results from its phase five drilling program at the Bibemi gold project, signaling a potential upgrade to the existing mineral resource estimate. CEO Martin Rosser has indicated the importance of these results for advancing the exploitation license application process. Furthermore, the collaboration with BCM International and ongoing studies suggest a strategic approach toward enhancing the gold mining venture in Cameroon.
Original Source: www.mining-technology.com
