Oriole Resources PLC (LON:ORR), the AIM quoted gold exploration company focused on Central and West Africa, has provided an update on its 50% owned Mbe gold project in Cameroon, where it has received the final positive results from the recently completed maiden diamond drilling programme at the MB01-N target.
Highlights
o Results from holes MBDD036 to MBDD039 have returned further gold intersections, including:
MBDD039
o 56.20m at 0.99g/t Au from 4.70m depth, including 14.60m at 2.03g/t Au and 2.00m at 3.14g/t Au
o 24.00m at 0.47g/t Au from 94.30m depth, including 2.00m at 2.21g/t Au
MBDD038
o 21.30m at 1.22g/t Au from 118.10m depth, including 7.00m at 2.09g/t Au and 1.00m at 3.29g/t Au
o 9.00m at 0.87g/t Au from 81.80m depth, including 4.00m at 1.55g/t Au
MBDD036
o 4.10m at 0.52g/t Au from 73.90m depth
o 4.10m at 0.31g/t Au from 4.50m depth
o MBDD036 has confirmed that the system extends approximately 700m in a north-south direction and it remains open in all directions.
o Mineralisation within both MBDD039 and MBDD038 is predominantly hosted by sulphide-telluride veinlets with MBDD039 returning the widest intersection to date at MB01-N.
o The Company’s consultant will now prepare a maiden JORC Resource for the MB01-N target, which will be published in Q2-2026 and is expected to add significantly to the existing 870,000oz JORC Resource at the nearby MB01-S deposit.
o Meanwhile, the Oriole and BCM teams are preparing to commence a fully funded 2,500m step-out drilling programme at MB01-S, which is expected to add further ounces to the global resource base at Mbe later this year.
Chief Executive Officer of Oriole Resources, Martin Rosser, said: “The final drilling results from MB01-N have seen the programme finish on a high, with more impressive wide mineralised intersections, notably in hole MBDD039 with 56.2m at almost 1g/t from very near surface.
“We are very much looking forward to our consultant’s maiden MRE for MB01-N, due in Q2-2026, and the commencement of the fully funded 2,500m step-out drilling programme at MB01-S.”
Figure 1. Selected best results to date from the maiden MB01-N diamond drilling programme. Results published today are in the blue boxes (MBDD036 to MBDD039), and previously reported results are in the white boxes (MBDD025 to MBDD035).
Further Details
The Programme, which was completed last month, consisted of 2,982.80m drilling in 15 holes (see announcement dated 20 February 2026), and was designed to test the MB01-N target, located 700m to the northeast of the MB01-S deposit and 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 Company today reports results for the final four holes in the Programme, MBDD036 to MBDD039, which include a total of 27 mineralised intersections (Table 1; using a 0.20g/t Au cut-off grade). A review of the QAQC samples has confirmed that the data falls within acceptable limits of error.
Holes MBDD036, MBDD037, and MBDD039 were all drilled towards the west (270-dgree azimuth), whereas MBDD038 was drilled towards the south (180-degree azimuth) to test the downdip structures observed in MBDD026, MBDD032, and MBDD034, which trend ENE-WSW and ESE-WNW. Significant intersections included 56.20m at 0.99g/t Au from 4.70m – the best intersection to date at MB01-N – from MBDD039, and 21.30m at 1.22g/t Au from MBDD038. In both MBDD038 and MBDD039, mineralisation is typically hosted by sulphide-telluride veinlets and breccias that have infilled shear-related fractures, predominantly within the felsic dykes.
Table 1. Selected intersections from holes MBDD036 and MBDD039, using a 0.20g/t Au lower cut-off grade. Results > 1.00g/t Au are highlighted in bold.
| Hole ID | From (m) | To(m) | Grade (g/t Au) | Intersection |
| MBDD036 | 4.50 | 8.60 | 0.31 | 4.10m at 0.31g/t Au |
| and | 18.80 | 19.80 | 0.21 | 1.00m at 0.21g/t Au |
| and | 24.50 | 25.60 | 0.88 | 1.10m at 0.88g/t Au |
| and | 73.90 | 78.00 | 0.52 | 4.10m at 0.52g/t Au |
| and | 89.50 | 90.50 | 0.45 | 1.00m at 0.45g/t Au |
| and | 94.50 | 95.50 | 0.31 | 1.00m at 0.31g/t Au |
| and | 100.80 | 101.80 | 0.42 | 1.00m at 0.42g/t Au |
| MBDD037* | 36.20 | 38.20 | 0.32 | 2.00m at 0.32g/t Au |
| MBDD038 | 24.30 | 25.30 | 0.27 | 1.00m at 0.27g/t Au |
| and | 31.30 | 34.30 | 0.34 | 3.00m at 0.34g/t Au |
| and | 39.80 | 40.80 | 0.14 | 1.00m at 1.40g/t Au |
| and | 43.80 | 44.80 | 0.75 | 1.00m at 0.75g/t Au |
| and | 48.90 | 49.90 | 3.15 | 1.00m at 3.15g/t Au |
| and | 67.90 | 68.90 | 0.40 | 1.00m at 0.40g/t Au |
| and | 71.10 | 73.10 | 1.73 | 2.00m at 1.73g/t Au |
| including | 72.10 | 73.10 | 2.93 | 1.00m at 2.93g/t Au |
| and | 76.20 | 78.30 | 0.35 | 2.10m at 0.35g/t Au |
| and | 81.80 | 90.80 | 0.87 | 9.00m at 0.87g/t Au |
| including | 81.80 | 85.80 | 1.55 | 4.00m at 1.55g/t Au |
| and | 97.80 | 98.80 | 0.24 | 1.00m at 0.24g/t Au |
| and | 100.80 | 101.80 | 0.36 | 1.00m at 0.36g/t Au |
| and | 108.40 | 113.50 | 0.30 | 5.10m at 0.30g/t Au |
| and | 118.10 | 139.40 | 1.22 | 21.30m at 1.22g/t Au |
| including | 120.10 | 127.10 | 2.09 | 7.00m at 2.09g/t Au |
| including | 138.40 | 139.40 | 3.29 | 1.00m at 3.29g/t Au |
| and | 147.90 | 149.00 | 0.28 | 1.10m at 0.28g/t Au |
| MBDD039 | 4.70 | 60.90 | 0.99 | 56.20m at 0.99g/t Au |
| including | 13.10 | 14.10 | 1.42 | 1.00m at 1.42g/t Au |
| including | 19.40 | 20.50 | 1.51 | 1.10m at 1.51g/t Au |
| including | 22.60 | 24.60 | 1.16 | 2.00m at 1.16g/t Au |
| including | 27.70 | 28.80 | 1.44 | 1.10m at 1.44g/t Au |
| including | 31.00 | 32.00 | 1.32 | 1.00m at 1.32g/t Au |
| including | 34.20 | 48.80 | 2.03 | 14.60m at 2.03g/t Au |
| including | 52.80 | 53.80 | 1.00 | 1.00m at 1.00g/t Au |
| including | 58.90 | 60.90 | 3.14 | 2.00m at 3.14g/t Au |
| and | 68.90 | 71.90 | 0.64 | 3.00m at 0.64g/t Au |
| and | 85.90 | 88.90 | 0.39 | 3.00m at 0.39g/t Au |
| and | 89.90 | 91.00 | 0.20 | 1.10m at 0.20g/t Au |
| and | 94.30 | 118.30 | 0.47 | 24.00m at 0.47g/t Au |
| including | 97.50 | 99.50 | 2.21 | 2.00m at 2.21g/t Au |
| * hole only selectively sampled due to encountered geology | ||||
Figure 2. Drill core from hole MBDD039 with mineralisation hosted by sulphide-telluride veinlets and crackle breccia within sheared felsic dykes. This section of core is within the 14.60m at 2.03g/t Au interval within the wider 56.20m at 0.99g/t Au intersection.
Figure 3. Drill core from MBDD038 where mineralisation is hosted by sulphide-telluride veinlets within sheared and silicified orthogneiss and felsic dyke units. This section of core is within the 7.00m at 2.09g/t Au including interval, within the wider 21.30m at 1.22g/t Au intersection.
Hole MBDD039 was collared approximately 50m west of MBDD027 and has intersected, closer to surface, the same zone identified in MBDD027, where best intersections of 16.10m at 2.49g/t Au and 14.80m at 0.73g/t Au were previously reported (see announcement dated 26 January 2026) (Figure 6). As anticipated, hole MBDD038 (drilled towards the south) largely intersected E-W trending structures which occur as sulphide-telluride veinlets, infilling shear-related fractures. These E-W veins are interpreted to have formed within the broadly NNW-SSE to N-S trending mineralised corridor at MB01-N, locally contributing to the overall gold grades.
Hole MBDD036 was the southernmost hole drilled on the main MB01-N anomalous trend, extending the known strike of the system, which remains open in all directions, to over 700m in a N-S direction. MBDD037 was drilled to target a lesser gold-in-soil anomaly, parallel to and east of the main MB01-N trend, which coincided with narrow gold-bearing intersections in the 2024 trenching programmes. While some breccia zones with minor mineralisation were observed within the hole, overall there was little to no mineralisation present in the hole and thus it was only sampled selectively.
Figure 4. Simplified N-S cross section showing new results from MBDD038 and interpreted mineralised zones, in the context of E-W trending drilling fence line N874091. *Fence line N874091 includes holes MBDD026, MBDD032 and MBDD034, which appear as overlapping traces in this section due to the view direction. As such, no results have been added for these holes; see Figure 5 for further context.
Figure 5. Simplified E-W cross section of fence line N874091 with new results from MBDD038 and interpreted mineralised zones. *NB. MBDD038 has been drilled towards the south, cross-cutting N874091, and the results from MBDD038 are therefore oblique to the holes on that fence line.
Figure 6. Simplified E-W cross section of fence line N873992 with new results from MBDD039, previously reported results from MBDD027, and interpreted mineralised zones.
Following receipt of all results from the Programme, Oriole Resources will now engage Forge to generate the maiden MRE for MB01-N, with reporting of that MRE anticipated in Q2-2026.
Meanwhile, the Oriole and BCM teams are preparing to mobilise for the next phase of exploration at Mbe; a fully funded step-out diamond drilling programme at MB01-S which is planned for a provisional 2,500m in 10 holes. The step out programme is expected to add further ounces to the global resource base at Mbe later this year and further details will be provided in due course.
Finally, administration is still underway to formalise BCM’s 50% beneficial interest in the project, with the drafting of a JV partnership agreement in progress.
