Oriole Resources has concluded a successful drilling program at the Bibemi gold project in Cameroon, indicating potential for upgrading the mineral resource estimate. Funded by BCM International, the program involved 56 drill holes and suggested the possibility of expanding resources. Future developments include an updated mineral resource estimate and ongoing license application processes.
Oriole Resources, a gold exploration firm active in West and Central Africa, has finalized its phase five drilling program at the Bibemi gold project in Cameroon. This initiative showcases potential for enhancing and expanding the existing mineral resource estimate (MRE). The drilling campaign, which includes 56 holes and approximately 6,900 meters, was entirely financed by BCM International, which is working towards acquiring a 50% stake in the project through a $4 million investment.
CEO Martin Rosser stated that the completion of phase five drilling, yielding encouraging gold intersections, positions them for a revised independent consultant’s mineral resource estimate. This estimate may be expanded and partially upgraded to Measured and/or Indicated status per the JORC Code. Additionally, following the completion of necessary studies, they anticipate significant progress with their exploitation license application to the Cameroonian Mines Ministry.
SEMS Exploration Services is conducting an independent structural review to enhance the geological model, which will aid in the next MRE update by Forge International, expected in the second quarter of 2025. Furthermore, Oriole Resources is finalizing an updated environmental and social impact assessment and advanced metallurgical testing to optimize their mineral processing flow sheet as part of the ongoing exploitation license application process.
The phase five drilling specifically focused on three sub-prospects within Bakassi Zone 1, aiming to tighten drill fence line spacing to about 50 meters over the main pit design. Notably, the final seven drill holes at the BZ1-MRE target were all mineralized, producing 49 reported intervals with a lower gold cut-off of 0.20 grams per tonne (g/t).
Spanning an area of 177 km², the Bibemi project has demonstrated shear-hosted gold mineralization across four key prospects. Past exploration phases emphasized Bakassi Zone 1, which has an MRE of 5.1 million tonnes grading 2.30 g/t, translating to approximately 375,000 ounces of gold reported in January 2024. The recent drilling outcomes within the current MRE pit shell affirm the continuity of mineralization and indicate a prospect for near-surface resource enlargement. In January 2024, Oriole Resources also established a definitive earn-in agreement with BCM International for the Mbe gold project in Cameroon, following an earlier agreement related to the Bibemi gold license, facilitating Mbe’s development.
In conclusion, Oriole Resources has made significant strides at the Bibemi gold project, completing a successful phase five drilling program that revealed positive gold intersections and potential for resource expansion. With the upcoming mineral resource estimate revisions and thorough studies underway, the company is well-positioned for future development in Cameroon, bolstered by strategic partnerships and ongoing exploration efforts.
Original Source: www.mining-technology.com
