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(Sharecast News) - Oriole Resources reported encouraging new assay results from its maiden drilling campaign at the Mbe gold project in Cameroon on Wednesday, further confirming the continuity of near-surface mineralisation over a 200-metre strike length.
The AIM-traded firm said the results from holes MBDD010 and MBDD011 had increased the total number of mineralised intersections in the phase one programme to 179.
Highlights included three metres at 2.88 grams of gold per tonne, and 4.3 metres at 1.63 grams per tonne, among multiple other mineralised zones reported from both holes.
The mineralisation, previously confirmed to extend to at least 290 metres vertically, remains open in all directions.
Drilling had now reached 4,527 metres across 15 completed holes, with a 16th hole in progress.
Results from holes MBDD012 and MBDD013 were expected late in the second quarter or early in the third, with samples already dispatched to Bureau Veritas in Côte d'Ivoire for fire assay analysis.
The fully-funded phase one programme was due to conclude in the third quarter of the year.
Ahead of a maiden pit-constrained mineral resource estimate expected in the fourth quarter, the company said it would also publish a JORC-compliant exploration target in the third quarter to provide early insight into the project's resource potential.
Oriole said it believed the deposit could be amenable to open-pit mining.
"We are pleased to report further encouraging mineralised intersection results from Mbe," said chief executive officer Martin Rosser.
"They continue to show along-strike continuity of mineralisation, which remains open in all directions and at depth, and which has been confirmed to at least 290 metres from surface.
"The eagerly anticipated Mbe JORC exploration target estimate is currently on schedule for reporting in the third quarter of 2025."
At 1627 BST, shares in Oriole Resources were up 1.1% at 0.23p.
Reporting by Josh White for Sharecast.com.
