Oriole Resources (ORR) released rock-chip samples from the Bibemi project in Cameroon, of which it has a 90% working interest.
The company confirmed significant gold anomalism extending over 4km strike, predominantly from quartz and quartz-tourmaline veins hosted within granadiorite.
43 samples measured >1g/t Au, 16 samples returned >10g/t Au and 4 returned over 100 g/t Au out of 454 samples.
Trading volumes increased over fifteenfold as shares in Oriole Resources increased over 40% to a high of 0.498p a share
Oriole CEO Tim Livesey, said: "We are delighted that this early sampling at Bibemi has delivered such high-grade results from what is an initial phase of ground-truthing.”
“The results delivered along the 4km strike only serve to strengthen the rationale for Oriole's in-vestment in this highly prospective region, and we are excited at the prospect of further results from the planned increased in the current trenching programme.”
He added “The trenching programme is designed to tighten up our targeting for a drill programme in 2019, and the recent results support this work.”
The company is also exploring its 85%-owned Dalafin project in the Kédougou-Kéniéba inlier of eastern Senegal, 12km to the west-northwest of the Boto gold project which a feasibility projected a NPV(6%) of US$261M and IRR of 23%.
The owner of the Boto gold project (IAMGOLD Corporation) has an option to spend US$8M to earn a 70% interest in the Dalafin project.
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