LONDON (ShareCast) - (Sharecast News) - Oriole Resources said on Monday that final results from step-out drilling at the MB01-S deposit in Cameroon had confirmed a south-eastward extension to mineralisation, supporting potential growth in the existing 870,000-ounce gold resource.
The AIM-traded firm said the results included 16.40 metres at 1.65 grams per tonne gold from 116.80 metres in hole MBDD048, including 3.00 metres at 4.72 grams per tonne, and 27.00 metres at 0.61 grams per tonne from 202.50 metres in MBDD049.

It said an updated mineral resource estimate for MB01-S was being prepared and was expected later in the third quarter, with the wider Mbe project currently holding a 1.23 million-ounce inferred resource.

Chief executive Martin Rosser said the programme had been successful and "it is anticipated should increase the total resource at MB01-S from the current 870koz Au."

At 1400 BST, shares in Oriole Resources were up 8.11% at 0.4p.

Reporting by Josh White for Sharecast.com.

See latest RNS on Investegate

Email this article to a friend

or share it with one of these popular networks:

• DIGG
• FACEBOOK
• STUMBLEUPON
• MIXX
• YAHOO BUZZ
• DELICIOUS
• REDDIT
• NEWSVINE