Oriole expands its footprint in Cameroon
West Africa-focused Oriole Resources is expanding its footprint in Cameroon through the formation of a new 90%-owned local subsidiary, Oriole Cameroon.
Oriole is earning up to a 90% interest through its partnership with Bureau d'Etudes et d'Investigations Géologico-minières, Géotechniques et Géophysiques (BEIG3).
CEO Tim Livesey on Monday said the company’s success at the Bibemi and Wapouzé gold projects, in Cameroon, to date, had given the company the confidence to build on its existing footprint in the country “to capitalise on its position as first movers in this new frontier for gold exploration”.
He explained that during Oriole’s technical review meetings in July, the team identified and ranked seven key areas within the country where the team had felt the geological potential merited the company staking new licences.
Subsequently, Aim-listed Oriole also submitted eight new licence applications for a district-scale land package in the centre of the country.
“The development of the exploration and mining sector is a critical focus in Cameroon, contributing to the continuing development of the country through the responsible identification and extraction of primary minerals,” Livesey concluded.
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