Exciting Developments at the Bibemi Gold Project: New Drilling Phase Aims to Boost Resource Estimates
In an exciting update for gold enthusiasts and investors, Oriole Resources PLC (AIM: ORR) has successfully wrapped up its Phase 5 drilling program at the Bibemi gold project, located in the vibrant region of Cameroon. This initiative covered an impressive 6,900 meters, spread across 56 drill holes, focusing on the promising Bakassi Zone 1 prospect.
The completion of this phase not only signals a new chapter in the project but also lays the groundwork for substantial growth in resource estimates. Currently, the Bibemi gold site houses an estimated 375,000 ounces of contained gold, and the upcoming updates—expected in the second quarter—are anticipated to enhance these figures even further. Martin Rosser, the Chief Executive of Oriole Resources, expressed optimism about the drilling results, emphasizing that the recent findings open up opportunities for expanding and partially upgrading resources in accordance with the Measured and/or Indicated JORC Code categories.
The drilling program revealed some exciting intersections, including a notable 1.00 meter at 15.11 grams per tonne (g/t) of gold from a depth of 61.30 meters in one drill hole, alongside another impressive result of 2.20 meters at 8.11 g/t gold from 122.90 meters. These encouraging signs reflect not only the potential of the Bibemi site but also the diligence and determination of the Oriole team.
Furthermore, with the completion of essential technical and necessary studies, Oriole Resources is set to make significant progress on its Exploitation Licence Application, which has already been submitted to the Cameroon Mines Ministry. This step is crucial for the future operational phase of the project and marks a pivotal moment in advancing mineral exploration in the region.
The steady advancements in the Bibemi project underline the growing investment in gold mining across Africa, an area rich in resources and potential. As the world continues to seek sustainable solutions and reliable sources of precious metals, Cameroon stands out as a key player in the gold mining sector.
Stay tuned for more updates as Oriole Resources takes bold steps toward unlocking the riches hidden beneath Cameroon’s soil. The future indeed looks bright for both the company and the local economy!
Tags: #Cameroon #GoldMining #Investments #BusinessNews #Tourism #WorldNews
