Oriole Resources PLC

Gold prices have again hit a record high, reaching $2,589/oz. As #gold goes from strength to strength, #ORR, with significant funding in place for its exploration programmes at Bibemi and Mbe, continues to progress its portfolio of gold assets ➡ https://ow.ly/jwUl50Tp5ZO

Gold prices hit a record high of over $2,550/oz yesterday, spurred by expectations of an interest rate cut by the Federal Reserve next week. This latest record high follows a year-long trend of increasing #gold spot prices. #ORR is well placed to take advantage of strong conditions in the gold market, possessing a strategic first-mover advantage in a highly prospective gold region in #Cameroon, where it continues to progress the exploration and development of its assets. See the full article here: https://ow.ly/jW9C50TmToI

Oriole Resources would like to thank the departing British High Commissioner for Cameroon, Barry Lowen, for the dedicated support he has shown towards our operations in #Cameroon during his tenure. We wish him all the best for the future.   We would also like to congratulate and welcome the incoming British High Commissioner for Cameroon, Matt Woods. We look forward to working together continuing to promote #Cameroon as an attractive jurisdiction for #mining investment.

Oriole Resources would like to thank the departing British High Commissioner for Cameroon, Barry Lowen, for the dedicated support he has shown towards our operations in #Cameroon during his tenure. We wish him all the best for the future.   We would also like to congratulate and welcome the incoming British High Commissioner for Cameroon, Matt Woods. We look forward to working together continuing to promote #Cameroon as an attractive jurisdiction for #mining investment.

#ORR provides an update on its Bibemi #gold project in #Cameroon, with a total of 2,814.10 metres drilled in 22 holes so far for the ongoing Phase 5 diamond drilling programme at the BZ1 prospect. Results from selective sampling of the first 10 vertical holes at the BZ1 MRE target have delivered multiple intersections, including highlights of 4.10m at 7.99g/t Au (BBDD059), 2.00m at 12.50g/t Au (BBDD061) and 2.70m at 14.67g/t Au and 4.00m at 1.37g/t Au (BBDD058). Several high-grade intersections are within 50 metres of surface and the existing MRE open pit design outline, but outside of the current MRE wireframes, providing scope for additional near-surface resources. A further 15 holes are planned at BZ1-MRE, focussed on expanding and upgrading the existing JORC Inferred MRE. 25 holes are also planned at two along-strike target areas, BZ1-NE and BZ1-SW. Completion of the programme is anticipated in Q4 2024.

#ORR Bibemi Phase 5 Drilling Update: Initial results include near-surface gold bearing intersections of 4.10m at 7.99g/t Au and 2.70m at 14.67g/t Au ➡️https://ow.ly/VPNw50TlFsV

Operational highlights include the signing of two agreements with BCM for the Bibemi and Mbe projects. #ORR received $1.5 million on signing, which gave BCM a 10% interest in each licence, potentially rising to 50% by funding up to $4 million in exploration per licence. The MRE for #Bibemi was upgraded to a contained 375,000 Troy oz in 5.1 Mt grading 2.30 g/t Au for Bakassi Zone 1. The Phase 5 drilling programme also commenced at BZ1 and, in June, an ELA was submitted to the Cameroon government. Infill soil sampling was completed at Mbe, and a follow-up trenching programme at the MB01 target delivered initial results up to 50m at 1.11g/t gold, including 20m at 2.23g/t (MBT001). The results support ORR’s opinion that Mbe is a potentially significant discovery. Managem Group completed its earn-in at Senala and confirmed it had spent ~$5.8 million on exploration, giving it a ~59% interest. The remaining % is held by an ORR subsidiary. The licence was renewed for a further three-years, and discussion on the next steps are ongoing. Pre-tax profit for the period was £1.15 million, and the cash balance of Oriole as at 30 June 2024 was £0.84 million.

#ORR Company Update: Interim Results for the six-month period ended 30 June 2024 ➡ https://lnkd.in/ecXTaQb9

🎥 #ORR CEO, Martin Rosser, joins Proactive to provide an update on the initial trenching results at the Mbe #gold project, the additional understanding they provide, and how they indicate that Mbe is a potentially significant $gold discovery ➡ https://ow.ly/SIxg50Tebmf

🎥 #ORR CEO, Martin Rosser, joins Proactive to provide an update on the initial trenching results at the Mbe #gold project, the additional understanding they provide, and how they indicate that Mbe is a potentially significant $gold discovery ➡ https://ow.ly/SIxg50Tebmf