Phase 5 drilling programme completed at Bibemi gold project
Phase 5 drilling program at the Bibemi gold project in Cameroon, has been completed. Oriole Resources confirmed the report and said the final results from the last seven drill holes (BBDD103 to 109), which focused on infill drilling at the BZ1-MRE zone, are anticipated this quarter.
The program covered 6,915.40 meters across 56 drill holes within the Bakassi Zone 1 (BZ1) prospect, specifically targeting three sub-areas: BZ1-MRE, BZ1-NW, and BZ1-SW. Once these results are received, the company will conduct a comprehensive review of all drilling data gathered so far, totaling approximately 13,600 meters across 110 holes.
Partial upgrade
This assessment is expected to lead to a partial upgrade of the current inferred mineral resource estimate (MRE) under the Australasian Joint Ore Reserve Committee (JORC) Code, moving some resources into the measured and/or indicated categories. Additionally, the MRE is likely to benefit from revised gold price projections. At present, the Bibemi project holds an inferred MRE of 375,000 ounces of gold at a grade of 2.30 g/t, based on previous drilling phases and a gold price assumption of $2,000 per ounce.
CEO Martin Rosser acknowledged that while the drilling program concluded later than initially planned due to external factors, the team made significant efforts to optimize operations. These efficiencies are expected to support faster progress in the Mbe drilling program, which is already 25% complete.
To ensure optimal exploration and accurate structural interpretation, the company has opted to continue drilling at Mbe using a single rig. However, the pace of the program will be monitored, with the goal of delineating a mineral resource efficiently. Further details on the next steps will be provided after a thorough review of the drilling data.
