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(Sharecast News) - Oriole Resources said on Monday that step-out drilling had been completed at the MB01-S deposit within its 50%-owned Mbe gold project in Cameroon, with the latest results including a 27.20-metre intersection grading 1.69 grams of gold per tonne.
The AIM-traded gold explorer said the phase three diamond drilling programme had been completed for 2,476.80 metres across 10 holes.
Results from the remaining five holes are expected later in June, after which an updated JORC mineral resource estimate for MB01-S is anticipated early in the third quarter.
Oriole said results from holes MBDD043 and MBDD044 returned 23 mineralised gold intersections.
In MBDD044, drilling intersected 27.20 metres at 1.69 grams per tonne from 96 metres depth, including six metres at 5.81 grams per tonne, one metre at 2.19 grams per tonne and one metre at 2.09 grams per tonne.
Hole MBDD043 intersected 27.60 metres at 0.58 grams per tonne from 53.30 metres depth, including 1.10 metres at 4.08 grams per tonne and 2.80 metres at 1.20 grams per tonne.
The company said MBDD044 appeared to represent the along-strike extension of a previously reported 29.80-metre intersection grading 0.79 grams per tonne in hole MBDD024, located 180 metres to the south-southeast.
The drilling programme was designed to expand the existing 870,000-ounce JORC inferred mineral resource at MB01-S by testing extensions to the mineralised system.
The wider Mbe project currently has a total JORC inferred resource of 1.23 million ounces of contained gold across the MB01-S and MB01-N deposits.
Oriole said the latest results supported a slight rotation of the mineralised wireframes at MB01-S from the current north-south trend to a north-northwest to south-southeast orientation, which would be incorporated into the next resource update.
"The latest two drill hole results for the step-out drilling programme at the MB01-S deposit are over significant widths, and hole MBDD044 has a pleasing best intersection of 27.20m at 1.69g/t Au," said chief executive officer Martin Rosser.
"The completion of the 10-hole drilling programme has been achieved in good time, and we thank the BCM drilling crew and Oriole's field team for all their hard work.
"We very much look forward to the results from the remaining holes later this month and the revised independent consultant's updated MRE for MB01-S thereafter in early Q3-2026."
At 1220 BST, shares in Oriole Resources were up 13.33% at 0.34p.
Reporting by Josh White for Sharecast.com.
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