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(Sharecast News) - Oriole Resources reported further high-grade gold intersections from its maiden drilling programme at the Mbe project in Cameroon on Tuesady, with results extending the known mineralised system beyond current exploration boundaries.
The AIM-traded explorer said holes MBDD018 to MBDD020 returned 31 mineralised intersections at the MB01-S target, including 6.15 metres at 19.67 grams of gold per tonne gold from 113.5 metres, with one metre grading 119.1 grams per tonne.
Other results included 3 metres at 17.66 grams per tonne from 141.7 metres and four metres at 2.94 grame per tonne from 71.4 metres.
The company said the drilling had both reinforced and expanded its existing exploration model, with multiple high-grade zones identified outside the current boundaries.
Rock chip samples taken 150 metres beyond the defined target area also returned grades of up to 13.1 grame per tonne, indicating further potential for system extensions.
"The latest drilling results for Mbe are significant for several reasons," said chief executive Martin Rosser.
"Firstly, they confirm the potential for very high grades within the deposit, consistent with what we have already confirmed at surface.
"Secondly, they extend the known gold system boundaries, which has the potential to enhance the size of the recently published Mbe exploration target and the maiden MRE for MB01-S, which is earmarked for Q4-2025.
"Finally, with the system remaining open in all directions, the potential scale of Mbe is currently uncapped and is therefore hugely exciting."
Oriole said the phase one programme was already 90% complete, with the maiden mineral resource estimate expected in the fourth quarter of 2025.
At 1058 BST, shares in Oriole Resources were up 120% at 0.44p.
Reporting by Josh White for Sharecast.com.
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