 confirmed on Thursday that a number of areas of elevated gold concentrations have been located on the Central Licence Package (CLP) in Cameroon.){kind=link}
Results support ‘hypothesis of the CLP being an area of huge potential for gold exploration’
Oriole Resources (LON:ORR) confirmed on Thursday that a number of areas of elevated gold concentrations have been located on the Central Licence Package (CLP) in Cameroon.
Assay results for gold in 376 stream sediment samples have been received for the Niambaram and Tenekou licences.
Results indicate a number of areas of elevated gold in distinct drainage basins, associated with the northeast-trending Tcholliré-Banyo shear zone corridor and interpreted north-northwest trending cross-cutting structures.
87 sample sites returned gold values ≥2 ppb Au (detection limit), while 51 sample sites returned gold values ≥5 ppb.
Mapping and sampling over the remaining three licences in the west of the Package will resume in Q4 2021.
Oriole Resources CEO, Tim Livesey, said: “The initial results from this first phase of exploration in the Package, associated as it is with the main Tcholliré-Banyo shear zone corridor, supports our hypothesis of the CLP being an area of huge potential for gold exploration.”
“The fact that multiple areas of elevated gold concentrations have been identified in multiple drainage basins gives us confidence in our exploration model and reaffirms our encouragement for the prospectivity of the area. We note with interest, the apparent correlation of a number of these elevated gold in streams sample sites with significant interpreted lineaments and mapped structures and also with areas of historical and current artisanal mining activity.”
AIM-listed Oriole Resources share price (LON:ORR) is down by 2.24% on Thursday.