https://www.engineeringnews.co.za
Gold|Mining|PROJECT|Resources|Shell|Surface|Drilling
Gold|Mining|PROJECT|Resources|Shell|Surface|Drilling
gold|mining|project|resources|shell|surface|drilling

Oriole reports increase in resources at Cameroon project

15th January 2024

By: Tasneem Bulbulia

Senior Contributing Editor Online

     

Font size: - +

Aim-listed Oriole Resources has reported an updated inferred Joint Ore Reserves Committee-compliant mineral resource estimate (MRE) of 375 000 oz grading 2.30 g/t gold for Bakassi Zone 1, one of four prospects at its 82.2%-owned Bibemi orogenic gold project, in Cameroon.

An updated MRE has been prepared by independent consultant Forge International, predominantly on the basis of an updated gold price, as part of the ongoing technical studies to support the application for an exploitation licence later this year.

The pit-constrained resource is estimated to be 5.1-million tonnes grading 2.30 g/t gold for about 375 000 oz of gold in the inferred resources category, reflecting a 23% increase in the resource inventory.

The entire resource has been defined within the limit of a $2 000/oz gold price pit shell.

The resource has been modelled over a strike length of about 1.3 km and to a depth of 263 m below surface, using a cut-off grade of 0.45 g/t gold and a top-cut of 20 g/t gold.

The updated MRE is open at depth and along strike to the northeast.

There is significant potential to expand the MRE at Bakassi Zone 1 and to identify additional resources at the other three prospects on the licence, namely Bakassi Zone 2, Lawa West and Lawa East, which are all located within a few kilometres of Bakassi Zone 1, Oriole says.

Processing of the geophysics data collected last year is currently under way to aid drill targeting at Bibemi (including at the other three prospects), as well as future resource-expansion activities.

“We have been pleased to see the maiden resource support this pit expansion and deliver not only additional tonnes, but also at a higher grade.

“As we progress toward our fifth phase of drilling at Bibemi, with our partners BCM, we look forward to further expansion of the Bakassi Zone 1 resource. We are also keen to test and define the potential at the other three prospect areas,” says Oriole CEO Tim Livesey.

“This project is shaping up to be very robust and offers the opportunity for early development of a potential multi-pit gold mining operation,” he adds.

Edited by Chanel de Bruyn
Creamer Media Senior Deputy Editor Online

Comments

 

Showroom

SABAT
SABAT

From batteries for boats and jet skis, to batteries for cars and quad bikes, SABAT Batteries has positioned itself as the lifestyle battery of...

VISIT SHOWROOM 
Booyco Electronics
Booyco Electronics

Booyco Electronics, South African pioneer of Proximity Detection Systems, offers safety solutions for underground and surface mining, quarrying,...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Magazine round up | 12 April 2024
Magazine round up | 12 April 2024
12th April 2024

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.22 0.278s - 160pq - 2rq
Subscribe Now