Oriole Resources PLC (LON:ORR), the AIM quoted gold exploration company focused on Central and West Africa, has provided an update on the Mbe gold project in Cameroon, where it has completed the maiden diamond drilling programme at the MB01-N target for some 3,000m. Following this the Company’s partner, BCM International Limited, has now earned a 50% beneficial interest in the Project.
Highlights
o The Programme has been completed for a total of 3,000.40m drilled in 15 holes.
o BCM has now earned a 50% beneficial interest in Mbe and the administrative work to formalise that interest, including the drafting of a joint venture agreement, is underway.
o Results for six holes are outstanding and are expected later in Q1-2026.
o On receiving these final results, the Company’s consultant will prepare a maiden JORC Resource for the MB01-N target to add to the existing 870,000oz contained gold JORC Resource at the nearby MB01-S deposit.
o A fully funded step-out drilling programme is scheduled to commence at MB01-S in Q2-2026.
Chief Executive Officer of Oriole Resources, Martin Rosser, said: “We are delighted that the maiden drilling programme at the MB01-N target has been completed. The drilling crew and support personnel have worked tirelessly to achieve this on time and with excellent core recovery, and we thank them for their efforts. We look forward to reporting the remaining drill holes results and the consultant’s maiden MRE report.”
Further Details
The Programme, which commenced in November 2025, was planned to test the MB01-N target, which is located 700m to the northeast of the MB01-S deposit, where the Company has previously reported a maiden JORC Inferred Mineral Resource Estimate of 24.8Mt at a grade of 1.09g/t Au for 870,000oz contained gold (see announcement dated 21 October 2025). MB01-N has a JORC Exploration Target of 15Mt to 20Mt at 0.77 to 0.94g/t Au for 370,000oz to 605,000oz contained gold, and offers significant upside to the total JORC Resource potential of the Mbe project. The Programme was designed to maximise conversion from an Exploration Target to a JORC Resource.
The Company today reports that the Programme has been completed for 3,000.40m drilled in 15 holes (MBDD025-039), of which 17.60m was abandoned and redrilled so the total being sampled is 2,982.80m. In accordance with the Completion Agreement (see announcement dated 5 November 2025), the Company can confirm that BCM has now earned a 50% beneficial interest in the Mbe gold project. The administrative work to formalise that interest, including the drafting of a joint venture agreement, is now underway.
Notable results from the first nine holes in the Programme (using a 0.20g/t Au lower cut-off grade) have included 21.70m at 3.13g/t Au including 7.20m at 8.19g/t Au (MBDD026), 16.10m at 2.49g/t Au and 14.80m at 0.73g/t Au (MBDD027), 16.20m at 0.77g/t Au including 10.10m at 1.08g/t Au (MBDD025), and 1.02g/t Au over 7.00m (MBDD031).
Results for a further six holes (MBDD034-39) are anticipated later in Q1-2026, after which the Company’s consultant will prepare a maiden JORC Resource for the target to add to the existing 870,000oz contained JORC Resource at the nearby MB01-S deposit.
In addition, a fully funded step-out drilling programme is scheduled to commence at MB01-S in Q2-2026. Further details on this programme will be announced in due course.
