Oriole Resources has finalized phase five drilling at its Bibemi gold project in Cameroon, revealing encouraging gold intersections. The drilling programme involved 56 holes and was funded by BCM International, which is set to earn up to 50% interest. Results indicate potential for expanding the mineral resource estimate, and a new update is expected by mid-2025, alongside progress on the exploitation licence application.
Oriole Resources, a gold exploration firm operating in West and Central Africa, has concluded its fifth phase of drilling at the Bibemi gold project in Cameroon. This phase, which encompassed 56 holes and approximately 6,900 meters of drilling, provided promising results that indicate the possibility of expanding and upgrading the current mineral resource estimate (MRE). The initiative was entirely financed by BCM International, which is on track to earn up to a 50% interest in the project in exchange for an investment of up to $4 million.
CEO Martin Rosser commented on the advancements saying, “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, with scope to expand and partially upgrade it to the Measured and/or Indicated JORC Code categories.” He also noted that with crucial technical studies completed, significant advancements in the exploitation licence application are anticipated.
Presently, an independent structural review is being conducted by SEMS Exploration Services to enhance the geological model, with results expected to guide the next MRE update by Forge International slated for the second quarter of 2025. Meanwhile, Oriole has also submitted an updated environmental and social impact assessment report and is finalizing advanced metallurgical testing to establish the most efficient mineral processing flow sheet as part of the ongoing exploitation licence application.
The fifth drilling phase specifically targeted three sub-prospects within Bakassi Zone 1, aiming to tighten drill fence line spacing to approximately 50 meters over the principal pit design. Findings from the last seven drillholes at the BZ1-MRE target revealed all holes to be mineralised, with a total of 49 intervals reported using a lower cut-off of 0.20 grams per tonne of gold.
The Bibemi project, covering 177 square kilometers, exhibits shear-hosted gold mineralisation across four primary prospects. Earlier exploration phases concentrated on Bakassi Zone 1, which reported a mineral resource estimate of 5.1 million tonnes grading 2.30 grams per tonne of gold, amounting to around 375,000 ounces noted in January 2024. The recent drilling outcomes within the existing MRE pit shell affirm the continuity of mineralisation and highlight the potential for resource expansion close to the surface. Additionally, in January 2024, Oriole Resources formalized an earn-in agreement with BCM International for the Mbe gold project, building upon a prior arrangement concerning the Bibemi gold licence and progressing Mbe’s development.
Oriole Resources has successfully completed its fifth phase of drilling at the Bibemi gold project, revealing promising gold intersections that suggest opportunities for expanding and upgrading the mineral resource estimate. The ongoing efforts, including independent reviews and environmental assessments, are expected to facilitate the exploitation license application process and advance the project significantly. With previous phases confirming the continuity of mineralisation, the future developments in both the Bibemi and Mbe projects appear notably promising.
Original Source: www.mining-technology.com
