Oriole Resources Reports Positive Drilling Results at Bibemi Gold Project
Oriole Resources has completed phase five drilling at the Bibemi gold project in Cameroon. The findings show promise for expanding the mineral resource estimate. Funded by BCM International, the program involved 56 holes and significant drilling efforts. CEO Martin Rosser anticipates updates to the mineral resource estimate and advancing the exploitation license application. Additionally, a structural review is in progress to support future developments.
Oriole Resources, a gold exploration firm active in West and Central Africa, has successfully completed its phase five drilling program at the Bibemi gold project located in Cameroon. The results indicate potential for expansion and enhancement of the existing mineral resource estimate (MRE). This drilling program included 56 holes and approximately 6,900 meters of drilling, funded by BCM International, which is set to earn a 50% interest in the project through a $4 million investment.
CEO Martin Rosser expressed optimism regarding the findings from the phase five drilling at Bibemi, stating that they returned encouraging gold intersections. He emphasized the anticipation of an updated independent mineral resource estimate that may enable expansion and partial upgrading to the Measured and/or Indicated JORC Code categories. Furthermore, he noted that essential technical studies have been completed, which will facilitate significant progress on the exploitation license application with the Cameroon Mines Ministry.
An independent structural review being conducted by SEMS Exploration Services aims to refine the geological model. This review will guide the forthcoming MRE update by Forge International, expected by the second quarter of 2025. Alongside the drilling activities, the company has submitted a revised environmental and social impact assessment and is close to finalizing metallurgical testing, which is essential for the mineral processing flow sheet within the exploitation license application process.
The phase five drilling specifically targeted three sub-prospects within Bakassi Zone 1, optimizing drill fence line spacing to approximately 50 meters based on the primary pit design. Notably, results from the last seven drill holes at the BZ1-MRE target indicate all were mineralized, with a total of 49 reported intervals using a lower cut-off of 0.20 grams per tonne (g/t) of gold. The Bibemi project, covering an area of 177 square kilometers, has identified shear-hosted gold mineralization across four primary prospects.
Previous exploration phases concentrated on Bakassi Zone 1, which yielded an MRE of 5.1 million tonnes at a grade of 2.30 g/t of gold, equating to approximately 375,000 ounces reported in January 2024. The recent drilling results confirm continuity of mineralization within the existing MRE pit shell, highlighting the potential for expanding near-surface resources. Additionally, in January 2024, Oriole Resources entered into a definitive earn-in agreement with BCM International for the Mbe gold project, further advancing its development following prior agreements on the Bibemi gold license.
In summary, Oriole Resources has completed a significant drilling program at the Bibemi gold project, revealing promising results that suggest an upgrade and expansion of the mineral resource estimate. Supported by BCM International’s financial commitment, the company is undertaking essential studies to progress its exploitation license application while awaiting a detailed evaluation of mineral resources expected in the near future. These developments indicate strong potential for growth within the Bibemi project and associated operations in Cameroon.
Original Source: www.mining-technology.com
