Oriole Resources is expanding its footprint in Cameroon following early sucess at the Bibemi and Wapouzé gold projects.
It is earning up to a 90% interest through its partnership with Bureau d’Etudes et d’Investigations Géologico-minières, Géotechniques et Géophysiques SARL (“BEIG3”).
Oriole has formed a new 90%-owned local subsidiary, Oriole Cameroon SARL, and has submitted applications for a district-scale land package in the centre of the country.
CEO, Tim Livesey says:
“As we indicated back in May, our success to date in Cameroon has given us the confidence to build on our existing footprint in the country to capitalise on our position as first movers in this new frontier for gold exploration.
“During our technical review meetings in July, the team identified and ranked seven key areas within Cameroon where we felt the geological potential merited us staking new licences.
“We have now submitted eight new licence applications covering a district-scale land package in our highest ranked areas.
Having attended the CIMEC conference in Yaoundé last month, where the Mining Sector Capacity Building Project presented prospectivity data from the first phase of the programme, I’m pleased to report that the results from regional geochemistry across our new licence areas has identified multiple strong gold anomalies.
“We look forward to exploring these further, following the completion of the licencing process.
“We have been very encouraged by the welcome shown to us by the Ministry of Mines and the Prime Minister, Head of Government.
“The development of the exploration and mining sector is a critical focus in Cameroon, contributing to the continuing development of the country through the responsible identification and extraction of primary minerals.
Alongside our partner at BEIG3, we look forward to an active field season and to progressing this land package through the next stage of exploration.”