REG - Oriole Resources PLC - Mbe drilling - over 40 further gold intersections

Oriole ResourcesAnnouncement

11/06/2025 07:00

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RNS Number : 2891M  Oriole Resources PLC  11 June 2025

The information contained within this announcement is deemed to constitute
inside information as stipulated under the retained EU law version of the
Market Abuse Regulation (EU) No. 596/2014 (the "UK MAR") which is part of UK
law by virtue of the European Union (Withdrawal) Act 2018. The information is
disclosed in accordance with the Company's obligations under Article 17 of the
UK MAR.  Upon the publication of this announcement, this inside information
is now considered to be in the public domain.

 

Oriole Resources PLC

('Oriole Resources' or the 'Company')

 

Mbe drilling delivers over 40 further gold intersections

- including 3.00m at 2.88g/t gold and 4.60m at 1.63g/t gold

Oriole Resources PLC (AIM: ORR), the AIM quoted gold exploration company
focused on West and Central Africa, is pleased to provide an update on its
90% 1  (#_ftn1) owned Mbe orogenic gold project (the 'Project') in Cameroon,
including further positive drill results.

 

Highlights

 

·    Results from drill holes MBDD010 and MBDD011 have increased the total
number of mineralised gold ('Au') intersections from the maiden ('Phase 1')
drilling programme to 179 (using a 0.20 g/t Au lower cut-off grade; see Figure
1 and Table 1 below), including:

 

MBDD010

o  8.90m at 0.47g/t Au from 10.00m, including 1.20m at 1.05g/t Au

o  3.10m at 0.80g/t Au from 74.10m, including 1.10m at 1.85g/t Au

o  5.00m at 1.86g/t Au from 80.40m, including 3.00m at 2.88g/t Au

o  13.10m at 0.62g/t Au from 117.20m, including 1.00m at 1.02g/t Au and 2.00m
at 1.86g/t Au

o  8.40m at 0.61g/t Au from 154.50m, including 3.10m at 1.02g/t Au and 1.00m
at 1.32g/t Au

o  4.00m at 0.52 g/t Au from 167.30m, including 1.00m at 1.06g/t Au

o  2.00m at 1.19g/t Au from 177.40m

 

MBDD011

o  17.30m at 0.39g/t Au from 3.60m, including 1.00m at 1.06g/t Au

o  5.10m at 0.76g/t Au from 50.00m, including 3.10m at 1.13g/t Au

o  1.00m at 1.42g/t Au from 68.40m

o  11.50m at 0.53g/t Au from 92.80m, including 2.10m at 1.27g/t Au and 1.10m
at 1.32g/t Au

o  4.40m at 0.64g/t Au from 110.50m, including 1.10m at 1.18g/t Au

o  1.00m at 2.53g/t Au from 118.00m

o  4.30m at 1.63g/t Au from 124.90m

o  1.10m at 2.03g/t Au from 136.80m

o  1.10m at 0.98g/t Au from 141.20m

o  5.00m at 1.50g/t Au from 196.10m, including 2.00m at 2.80g/t Au

 

·    Holes MBDD010 and MBDD011 were drilled on an infill fence line
(N872582) located between previously drilled fence lines N872482 (100m to the
south) and N872682 (100m to the north).

 

·    Mineralisation has been reported from near-surface and these results
confirm the along-strike continuity of mineralisation between all three fence
lines, therefore over a strike length of at least 200m. Mineralisation has
previously been confirmed to a vertical depth of as least 290m and the system
remains open in all directions and at depth.

 

·    The fully funded Phase 1 drilling programme at the MB01-S target is
almost 70% complete, with 4,527.20m drilled to date with 15 holes
(MBDD001-015) completed and a sixteenth hole (MBDD016) in progress.

 

·    Results for holes MBDD012 and MBDD013 are expected in late Q2/early
Q3 2025, with samples from both holes already on their way to Bureau Veritas
in Côte d'Ivoire for fire assay analysis.

 

·    The drilling programme is currently scheduled for completion in Q3
2025, and the Company anticipates publishing an independent consultant's
maiden, pit-contained MRE in Q4-2025.

 

·    Ahead of this, the Company plans for an independent consultant to
produce a JORC Exploration Target estimation in Q3 2025, to provide earlier
guidance on the resource potential of the Project.  Work on this is expected
to commence later this month.  The Company believes that the Project could be
mined by open pit mining methods.

 

 

Commenting, Chief Executive Officer of Oriole Resources, Martin Rosser, said:
"We are pleased to report further encouraging mineralised intersection results
from Mbe. They continue to show along-strike continuity of mineralisation,
which remains open in all directions and at depth, and which has been
confirmed to at least 290m from surface. The eagerly anticipated Mbe JORC
Exploration Target estimate is currently on schedule for reporting in Q3
2025."

 

 

Figure 1. Interpretative cross section for fence line N872582 at MB01-S, with
selected mineralised intervals from holes MBDD010 and MBDD011; a full
interpretation for this line is pending results for holes MBDD012 and MBDD013.
 The fence line is located approximately 15m to the south of trench MBT0015,
the results for which are shown in red along the surface trace.

 

Further Details

 

Mbe, with a licence area of 312km(2), is an orogenic gold project located
within the broader 2,266km(2) 'Eastern CLP' package of five contiguous gold
focused exploration licences in the Adamawa Region of central Cameroon.
 Since 2022, the Company's systematic exploration programmes have identified
a 3km long, NE trending prospect, named MB01, which sits within a wider 12.5km
long zone of gold-in-soil anomalism that trends ENE.

At MB01, increased dilation at the sites of structural intersections (steeply
dipping NNE and NNW trending shear structures) is believed to have resulted in
enhanced levels of gold deposition at the northern target, MB01-N, and MB01-S,
the southern target.  Gold mineralisation at these targets comprises
high-grade, sulphide-rich quartz veins, veinlets and breccias within wider
envelopes of pervasive, lower-grade gold mineralisation.

After highly encouraging results from infill soil sampling, rock-chip
sampling, and trench sampling, a fully funded maiden drilling programme
commenced at the MB01-S target in late November 2024 for a planned 6,590m in
24 holes.  BCM International has acquired an initial 10% interest in Mbe and
is earning up to a further 40% interest by spending up to US$4 million on
exploration.

A total of 4,527.20m has been drilled to date, with 15 holes (MBDD001-015)
completed and a sixteenth hole (MBDD016) in progress.  The Company today
reports results for the tenth and eleventh holes of the programme (MBDD010 and
MBDD011), both drilled towards the west (270˚).  These two holes are located
on infill fence line N872582, which is ~100m north of fence line N872482
(holes MBDD001, MBDD002, and MBDD007-009), and ~100m south of fence line
N872682 (holes MBDD003-006).  Results have delivered 43 further gold
mineralised intersections (Table 1, Figure 2), such as: 13.10m at 0.62g/t Au,
8.40m at 0.61g/t Au, 5.00m at 1.86g/t Au, including 3.00m at 2.88g/t Au
(MBDD010), 17.30m at 0.39g/t Au, 11.50m at 0.53g/t Au, 4.30m at 1.63g/t Au and
5.00m at 1.50g/t Au (MBDD011).  A review of the QAQC samples has confirmed
that the data falls within acceptable limits of error.

The total number of gold-bearing intersections from the first eleven holes in
the programme, MBDD001-011 for 3,367.30m drilled, stands at 180, equating to a
discovery rate of one intersection per 19m.  Other significant intersections
from the programme to date include: 86.50m at 1.36g/t Au, including 39.40m at
2.00g/t Au, 6.00m at 2.24g/t Au, and 3.00m at 2.32g/t Au, and 8.50m at 2.25g/t
Au, including 1.00m at 17.00g/t Au (MBDD008); 2.00m at 25.77g/t Au, including
1.00m at 51.30g/t Au (MBDD009); 29.75m at 0.88g/t Au, including 17.30m at
1.35g/t Au, and 26.30m at 0.65g/t Au, including 10.90m at 1.08g/t Au from
MBDD002; 24.20m at 0.45g/t Au, including 3.00m at 1.27g/t Au (MBDD007); 8.00m
at 1.00g/t Au and 4.24m at 8.12g/t, Au, including 1.72m at 19.08g/t Au
(MBDD003); 23.10m at 0.71g/t Au, including 7.20m at 1.02g/t Au and 2.00m at
2.48g/t Au, and 5.60m at 1.03g/t Au from 7.50m (MBDD005); and 13.80m at
0.61g/t Au, including 3.40m at 1.17g/t Au and 2.10m at 1.06g/t Au (MBDD006)
(Announcements dated 24 March 2025, 15 April 2025, 12 May 2025 and 19 May
2025; see Figure 2).

 

Figure 2. Plan for Phase 1 drilling at MB01-S with a selection of best results
to date from MBDD001 to MBDD011. Green dots denote holes drilled towards 090
degrees (Grid North) and blue dots are those drilled towards 270 degrees.

 

Table 1. Calculated intersections from Phase 1 holes MBDD010 and MBDD011,
using a 0.20g/t Au lower cut-off grade.  Results greater than 1.00g/t Au are
in bold.

 Hole ID    From (m)  To (m)  Grade (g/t Au)  Intersection
 MBDD010    10.00     18.90   0.47            8.90m at 0.47g/t Au
 including  14.30     15.50   1.05            1.20m at 1.05g/t Au
  and       59.80     60.80   0.23            1.00m at 0.23g/t Au
  and       69.00     70.00   0.20            1.00m at 0.20g/t Au
  and       74.10     77.20   0.80            3.10m at 0.80g/t Au
 including  74.10     75.20   1.85            1.10m at 1.85g/t Au
  and       80.40     85.40   1.86            5.00m at 1.86g/t Au
 including  80.40     83.40   2.88            3.00m at 2.88g/t Au
 and        87.40     93.40   0.25            6.00m at 0.25g/t Au
  and       101.50    102.50  0.24            1.00m at 0.24g/t Au
  and       117.20    130.30  0.62            13.10m at 0.62g/t Au
 including  121.30    122.30  1.02            1.00m at 1.02g/t Au
 including  127.30    129.30  1.86            2.00m at 1.86g/t Au
  and       133.30    134.30  0.25            1.00m at 0.25g/t Au
  and       137.30    138.40  0.24            1.10m at 0.24g/t Au
  and       141.40    143.60  0.83            2.20m at 0.83g/t Au
  and       146.80    150.20  0.65            3.40m at 0.65g/t Au
  and       154.50    162.90  0.61            8.40m at 0.61g/t Au
 including  155.50    158.60  1.02            3.10m at 1.02g/t Au
 including  161.90    162.90  1.32            1.00m at 1.32g/t Au
  and       167.30    171.30  0.52            4.00m at 0.52g/t Au
 including  170.30    171.30  1.06            1.00m at 1.06g/t Au
  and       177.40    179.40  1.19            2.00m at 1.19g/t Au
  and       184.70    185.70  0.33            1.00m at 0.33g/t Au
  and       217.50    218.50  0.21            1.00m at 0.21g/t Au
  and       233.10    234.20  0.33            1.10m at 0.33g/t Au
 MBDD011    3.60      20.90   0.39            17.30m at 0.39g/t Au
 including  5.50      6.50    1.06            1.00m at 1.06g/t Au
  and       27.70     30.70   0.62            3.00m at 0.62g/t Au
  and       36.00     38.00   0.29            2.00m at 0.29g/t Au
  and       50.00     55.10   0.76            5.10m at 0.76g/t Au
 including  50.00     53.10   1.12            3.10m at 1.12g/t Au
  and       63.70     64.70   0.39            1.00m at 0.39g/t Au
  and       68.40     69.40   1.42            1.00m at 1.42g/t Au
  and       73.70     74.70   0.21            1.00m at 0.21g/t Au
  and       78.60     80.50   0.63            1.90m at 0.63g/t Au
  and       83.50     85.50   0.37            2.00m at 0.37g/t Au
  and       92.80     104.30  0.53            11.50m at 0.53g/t Au
 including  94.80     96.90   1.27            2.10m at 1.27g/t Au
 including  100.10    101.20  1.32            1.10m at 1.32g/t Au
 and        103.30    104.30  0.24            1.00m at 0.24g/t Au
  and       110.50    114.90  0.64            4.40m at 0.64g/t Au
 including  110.50    111.60  1.18            1.10m at 1.18g/t Au
  and       118.00    119.00  2.53            1.00m at 2.53g/t Au
  and       121.90    122.90  0.27            1.00m at 0.27g/t Au
  and       124.90    129.20  1.63            4.30m at 1.63g/t Au
  and       133.50    134.60  0.38            1.10m at 0.38g/t Au
  and       136.80    137.90  2.03            1.10m at 2.03g/t Au
  and       141.20    142.30  0.98            1.10m at 0.98g/t Au
  and       144.30    145.30  0.73            1.00m at 0.73g/t Au
  and       157.40    159.65  0.52            2.25m at 0.52g/t Au
  and       162.00    163.10  0.46            1.10m at 0.46g/t Au
  and       178.00    183.20  0.34            5.20m at 0.34g/t Au
  and       189.20    192.20  0.32            3.00m at 0.32g/t Au
  and       196.10    201.10  1.50            5.00m at 1.50g/t Au
 including  199.10    201.10  2.80            2.00m at 2.80g/t Au
  and       208.60    209.60  0.53            1.00m at 0.53g/t Au

* Intersections greater than 1.00m, calculated using a 0.20g/t Au lower
cut-off grade and no more than 35% internal dilution. True widths are not
currently known.

 

The mineralisation in MBDD010 and MBDD011 correlates well with previously
reported results, and the style of mineralisation is consistent with the rest
of the Mbe deposit, mainly steeply NE-dipping higher-gold grading smoky quartz
veins hosted by a quartz feldspar porphyry (QFP) unit, and broader, but lower
gold-grading zones associated with the intersection of the NE-dipping (NW
trending) and E-dipping structures (approximately N-S trending).

 

 

Figure 3. Smoky quartz and sulphide veins and veinlets hosted by a QFP
intrusion in MBDD010, which graded 3.00m at 2.88g/t Au.  This sits within a
wider intersection of 5.00m at 1.86g/t Au from 80.40m.

 

These results, which are reported from near-surface, have confirmed the
along-strike (north-south) continuity of mineralisation between the two drill
fence lines as per holes previously drilled and reported (MBDD001-009),
indicating that the system has a confirmed strike length of over 200m as well
as widths of over 400m on N872482 and over 350m on N872682.  These results
continue to confirm narrower zones of higher gold grade within and proximal to
wider, lower-grade envelopes. To date, mineralisation has been confirmed to a
vertical depth of at least 290m, and the system remains open in all directions
and at depth.

 

Results for holes MBDD012 and MBDD013 are expected in late Q2/early Q3 2025,
with samples for both holes already on their way to Bureau Veritas laboratory
in Côte d'Ivoire for fire assay analysis.

 

This drilling programme is currently scheduled for completion in Q3 2025, and
the Company anticipates publishing an independent consultant's maiden,
pit-contained MRE in Q4 2025, which will be estimated in accordance with the
JORC code.  Ahead of this, the Company plans for an independent consultant to
undertake a JORC Exploration Target estimation in Q3-2025, and work on this is
expected to commence later this month.

 

Further information can be found in the Mbe JORC Table 1 disclosure on the
following page of the Company's website
https://orioleresources.com/projects/mbe/
(https://orioleresources.com/projects/bibemi/) .

 

Competent Persons Statement

 

The technical information in this release that relates to Exploration Results
and the planned exploration programme has been compiled by Mrs Claire Bay
(Executive Director).  Claire Bay (MGeol, CGeol) is a Competent Person as
defined in the JORC code and takes responsibility for the release of this
information.  Claire has reviewed the information in this announcement and
confirms that she is not aware of any new information or data that materially
affects the information reproduced here.

 

Enquiries:

 Oriole Resources Plc                                  Tel: +44 (0)23 8065 1649
 Martin Rosser / Bob Smeeton / Claire Bay

 Strand Hanson Limited (Nomad & Broker)                Tel: +44 (0)20 7409 3494
 Christopher Raggett / James Spinney / Edward Foulkes

 IFC Advisory Ltd (Financial IR & PR)                  Tel: +44 (0)20 3934 6630
 Tim Metcalfe / Graham Herring / Florence Staton       oriole@investor-focus.co.uk

 

Glossary and Abbreviations

 Au                               Gold
 g/t                              Grammes per tonne
 JORC                             Joint Ore Reserves Committee
 JORC Code                        2012 Edition of the Australasian Code for Reporting of Exploration Results,
                                  Mineral Resources and Ore Reserves
 km                               Kilometre
 km(2)                            Square kilometre
 Mbe                              Mbe orogenic gold project
 m                                Metres
 MRE                              Mineral Resource Estimate
 Oriole Resources or the Company  Oriole Resources PLC
 oz                               Troy ounce of gold
 Phase 1                          Maiden diamond drilling programme at the MB01-S target, Mbe
 Project                          Mbe orogenic gold project
 QFP                              Quartz Feldspar Porphyry

 

Notes to Editors

 

Oriole Resources PLC is an AIM-quoted gold exploration company, with projects
in West and Central Africa.  It is focused on early-stage exploration in
Cameroon, where the Company has reported a Resource of 460,000oz contained
gold at 2.06g/t Au in the JORC Indicated and Inferred categories at its 90%
owned Bibemi project and has identified multi-kilometre gold and lithium
anomalies within the district scale Central Licence Package project.  BCM
International is currently earning up to a 50% interest in the Bibemi and Mbe
projects in return for a combined investment of US$1.5 million in signature
payments, up to US$8 million in exploration expenditure, as well as JORC
resource-based success payments.

 

At the Senala gold project in Senegal, AGEM Senegal Exploration Suarl
('AGEM'), a wholly owned subsidiary of Managem Group, has completed a six-year
earn-in to acquire an approximate 59% beneficial interest in the Senala
Exploration Licence by spending US$5.8 million.  Discussions on the formation
of a joint venture company are currently underway.  The Company also has
several interests and royalties in companies operating in East Africa and
Turkey that could give future cash payments.

 

For further information please visit www.orioleresources.com
(http://www.orioleresources.com) ,  @OrioleResources on X

 

 1  (#_ftnref1) Oriole is currently undertaking a restructuring process that,
once completed, will see it increase its holding from 80% to a 90% interest in
the Project (announcement dated 17 October 2024).

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