David Pelham’s Post

Shares in Oriole Resources PLC (AIM:ORR) jumped 14% to 0.20p after the company signed an earn-in agreement for its Bibemi #gold project in Cameroon with Australia's BCM International, resulting in a second up-front payment of US$450,000. The AIM-quoted gold #explorer said the earn-in will see BCM earn up to a 50% interest in Bibemi in return for commitments including providing US$4 million in exploration expenditure and future resource-linked success-based payments. #Oriole expects drilling will start at Bibemi in the current quarter, with expenditure against the agreed funding from BCM having already begun, it said, to complete technical studies ahead of the application for an exploitation licence later this year.  Execution of a second earn-in agreement with BCM relating to the Mbe project is expected later this month. More at #Proactive #ProactiveInvestors http://ow.ly/qZ0R1057Vc5 #AIM #ORR

Oriole Resources PLC is pleased to report that it has received two-year renewals for each of its five gold exploration licences in the Eastern Central Licence Package (‘Eastern CLP’), located in the Adamawa and North regions of Cameroon. The Licences, held through the Company’s 90%-owned subsidiary Oriole Cameroon SARL, represent a contiguous, district-scale land package covering 2,266km2 of geological terrane which is highly prospective for both gold and lithium. The Eastern CLP includes the flagship, 80%-owned Mbe licence, where BCM International Limited is currently funding up to US$4 million in exploration expenditure to earn up to a 50% interest. A 5500 metre trenching programme is underway over the MB01 area at Mbe, with results anticipated in Q3-2024 and a maiden drilling programme is anticipated in Q4-2024. Oriole retains a 90% interest in the other four Eastern CLP licences (Tenekou, Niambaram, Pokor and Ndom), which share a similar geological setting and exploration potential to Mbe.  #westafrica #cameroon #goldexploration #orr https://lnkd.in/eQ-2Bkv8 

Aterian plc (LSE: ATN), the critical metal-focused exploration and development company, is pleased to provide an update on Rwandan exploration activities by its Rwandan subsidiary, Eastinco Limited ("Eastinco").   Highlights: 👉 Eastinco has been formally invited by the Rwanda Mines, Petroleum and Gas Board ("RMB") to negotiate terms for a significantly larger mineral exploration licence for the Musasa project area in Rwanda. 👉 Eastinco will exercise its option to acquire the 15 % minority partner interest from Kuaka Cooperative ("Kuaka"), its partner in the Musasa project. 👉 Eastinco announces that it has sent a joint venture termination notice to its partner, Dynasty Construction ("Dynasty"). 👉 The Government of Rwanda recently announced that it has partnered with Rio Tinto Minerals Development Limited ("Rio Tinto") to collaborate in mineral exploration activities and potential mineral development and mining operations for lithium, tin, tantalum, tungsten and associated metal deposits in Rwanda.   The Musasa licence area is known for its significant mineral potential, showing prospective mineral opportunities for #lithium, #tantalum, #niobium, tungsten, and tin. The RMB invitation to negotiate final terms for the exploration agreement marks a key step forward in Eastinco's strategic expansion within the region and, upon completion, will increase Eastinco's total Rwandan project exploration area by no less than 350 hectares to 3,100 hectares. The new licence area significantly increases the licence area from 50 hectares under the original agreement with Kuaka. https://lnkd.in/gR5AUsW7

Mozambique Licensing Alert! CNOOC International has entered the country with the award of 5 exploration blocks as part of the Sixth Licensing Round. The awards are for deepwater blocks A6-D, A6-E and A6-G in the Angoche Basin, and S6-A and S6-B in the Save Basin further south, acreage which has both shallow and deepwater. The company will hold 70-80% stakes and partner with Empresa Nacional de Hidrocarbonetos EP, the country’s NOC. Regulator INP said CNOOC had committed to acquire at least 26,000 km² of 3D seismic and drill 4 exploration wells. The Angoche Basin has seen some exploration, most notably Eni’s unsuccessful Raia-1 well on A5-A in 2023. But the Save offshore is almost totally unexplored. The acreage awarded is next to adjacent to Sasol’s onshore Pande, Temane and Inhassoro fields. The Sixth Licensing Round was launched back in November 2021 with 16 blocks offered – the only other bid came from Eni for Block A6-C.

Mozambique Licensing Alert! CNOOC International has entered the country with the award of 5 exploration blocks as part of the Sixth Licensing Round. The awards are for deepwater blocks A6-D, A6-E and A6-G in the Angoche Basin, and S6-A and S6-B in the Save Basin further south, acreage which has both shallow and deepwater. The company will hold 70-80% stakes and partner with Empresa Nacional de Hidrocarbonetos EP, the country’s NOC. Regulator INP said CNOOC had committed to acquire at least 26,000 km² of 3D seismic and drill 4 exploration wells. The Angoche Basin has seen some exploration, most notably Eni’s unsuccessful Raia-1 well on A5-A in 2023. But the Save offshore is almost totally unexplored. The acreage awarded is next to adjacent to Sasol’s onshore Pande, Temane and Inhassoro fields. The Sixth Licensing Round was launched back in November 2021 with 16 blocks offered – the only other bid came from Eni for Block A6-C.

Read more about the commencement of drilling to define and extend copper mineralisation at our Mumbezhi Project in Zambia in the below Stockhead article ➡️ #ProspectResources #PSC #Mumbezhi #Zambia #Copper

Oriole Resources PLC (AIM:ORR) said trench results at its 80%-owned Mbe gold project in Adamawa, Cameroon had correlated well with previously reported gold-in-soil anomalies. Grades from the three trenches included a 50m sample averaging 1.11 g/t gold in one, 68m at 0.77 g/t in the second and 20m at 2.23 g/t in the third. Results from other trenches would be released as they become available, Oriole said, and be used to target a maiden drilling programme in the 2024/2025 field season. Martin Rosser, chief executive, said: "These trenching results are highly encouraging, being over substantial widths and supporting our learned opinion that Mbe is a potentially significant gold discovery.”  BCM International Limited ('BCM') is currently funding up to US$4 million in exploration expenditure at MBe, one of five Oriole licences in a broader package of contiguous exploration prospects, the 'Eastern CLP', that cover 2,266... More at #Proactive #ProactiveInvestors http://ow.ly/e7uu105HuAr

Oriole Resources PLC (AIM:ORR) said it will shortly undertake a review of the project expenditure at the Senala gold project in Senegal and decide the next steps, where partners AGEM and Managem Group have just completed a six-year earn-in period. The AIM-listed company currently has an 85% interest in Stratex-EMC, the vehicle that holds the Senala exploration licence.   AGEM Senegal Exploration, a wholly-owned subsidiary of Managem, has spent roughly US$5.8 million on developing Senala since an option agreement was signed in early 2018.  Managem said AGEM's beneficial ownership position in the Senala licence is now estimated to be 59%, with Oriole's review aiming to confirm this percentage ownership.  More at #Proactive #ProactiveInvestors#orioleresources http://ow.ly/Oi2s105ilcy

South32 commits N$273 million for copper exploration in Namibia: Junior explorer Noronex has secured an earn-in agreement and strategic alliance with a wholly-owned subsidiary of South32 to accelerate copper exploration in Namibia. South32 has committed to fund N$273 million in exploration over five years at Noronex’s Humpback-Damara project in the Kalahari copper belt and will earn up to 60%

Oriole Resources PLC – pleased to provide an exploration update for its 80%-owned Mbe gold project in the Adamawa region of Cameroon, where BCM International Ltd is currently funding up to US$4 million in exploration expenditure. Mbe is just one of five licences within Oriole’s broader package of contiguous exploration licences, the ‘Eastern CLP’, which covers 2,266 km2 of ground prospective for gold deposits. Initial results for three of the first nine trenches approximately 200m apart located on the c. 1km long MB01-N sub-prospect include the following best channel sample intersections: - Trench MBT001 - 50m at 1.11 g/t gold, including 20m at 2.23g/t Au; - Trench MBT003 – 68m at 0.77g/t Au, including 24m at 1.18g/t Au; Intersections correlate well with the previously reported gold-in-soil anomalies, with all three being associated with a mineralised felsic porphyry unit. Further results from the remaining trenches are expected to be released over the next few weeks. The trenching results will inform the planning of the maiden drilling programme in the 2024/2025 field season. #westafrica #cameroon #goldexploration #orr https://lnkd.in/eQvC3VnA