Oriole Resources has provided an update on its 90%-owned Central Licence Package in Central Cameroon.
The district-scale CLP comprises eight contiguous licences covering 3,592 km2 of previously unexplored Paleo-Proterozoic to Pan-African age rocks that are highly prospective for orogenic-style gold mineralisation.
For context, the licenced area is approximately half the size of the Kédougou-Kéniéba inlier in Senegal, which has a current gold endowment of more than 45 Moz.
In Q2 2020, the team commenced a Package-wide mapping and stream sediment sampling programme. Following initial positive results for the Niambaram and Tenekou licences, the company reports results for the three easternmost licences, Pokor, Ndom and Mbe.
Grades of up to 291 parts per billion (ppb) gold continue to support an association with the northeast-trending Tcholliré-Banyo shear zone, a key regional control on gold distribution in Cameroon. The sampling programme will continue over the three western licences in Q4,2021.
Oriole Resources CEO, Tim Livesey, said:
“We are excited to see widespread gold-in-stream anomalism across all five licences sampled to date at our extensive and contiguous Central Licence Package. These early indications will now enable us to rank and prioritise areas for rapid follow up exploration work.
“We were initially attracted to the area in 2019 due it being crossed by the dominant TBSZ structural corridor, related to the globally significant Pan-Africa/Brazilliano fold belt that is known to be associated with orogenic-style gold mineralisation across central and eastern Africa and into Brazil.
“As a first mover in what we believe is a new gold district, these early results endorse our early targeting work and support our view that Cameroon is a new frontier for gold exploration. It is encouraging to see other groups following our lead, with licence applications being submitted at every level, from junior exploration companies right up to large multinationals – including proximal to the CLP and along the strike extensions of the TBSZ trend.
“We believe Cameroon offers enormous potential for exploration and mine development, and we are very pleased to be working with an excellent partner in country and to have supportive relationships with the Ministry and Government. Cameroon will no doubt become busier as we see more and more groups follow us there, but we are confident that our early mover position has given us great advantages in allowing us to select the best package of gold exploration licences in this new jurisdiction.”