Oriole Resources PLC (LON:ORR), the AIM quoted gold exploration company focused on Central and West Africa, has provided an update on its 50%[1] owned Mbe gold project in Cameroon, where it has received further positive results from the recently completed maiden diamond drilling programme at the MB01-N target.
Highlights
o Results from holes MBDD034 and MBDD035 have returned further gold intersections, including:
MBDD034
o 34.80m at 0.63g/t Au from 82.10m depth, including 7.80m at 1.29g/t Au, 1.00m at 2.21g/t Au and 1.10m at 1.36g/t Au
o 4.20m at 0.52g/t Au from 55.30m depth, including 1.00m at 1.08g/t Au
MBDD035
o 8.70m at 0.81g/t Au from 177.50m depth, including 1.00m at 4.16g/t Au
o 7.10m at 0.49g/t Au from 246.10m depth, including 1.00m at 1.06g/t Au
o 4.00m at 0.63g/t Au from 128.40 m depth
o Hole MBDD034 has returned a broadly comparable intersection to that observed in its scissor hole pair (MBDD026), with both holes showing evidence of a second set of core-parallel (approximately E-W trending) structures, albeit these are deemed to be secondary to the main NNW control.
o MBDD035 returned the deepest intersection to date, extending the system at MB01-N to approximately 194m vertical depth. The system remains open in all directions.
o Results for the remaining four holes are expected by end Q1-2026, following which the Company’s consultant will prepare a maiden JORC Resource for the MB01-N target in Q2-2026 to add to the existing 870,000oz JORC Resource at the nearby MB01-S deposit, where a fully funded step-out drilling programme will commence in Q2-2026.
Chief Executive Officer of Oriole Resources, Martin Rosser, said: “We are pleased to report more encouraging gold mineralisation intersections for the MB01-N prospect. With results from the remaining four holes expected by the end of Q1-2026, reporting of the eagerly anticipated maiden MRE thereafter is well on track. Separately, the fully funded step-out drilling programme at the MB01-S deposit is planned to commence in Q2-2026.”
Figure 1. Selected best results to date from the MB01-N diamond drilling programme. Results published today are in the blue boxes (MBDD034 and MBDD035), and previously reported results are in the white boxes (MBDD025 to MBDD033). All holes have been drilled at an inclination of -50˚.
Further Details
The Programme, which was completed earlier this month (see announcement dated 20 February 2026), 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 Programme is aimed to maximise conversion from an Exploration Target to JORC Resource ounces.
The Programme was completed at 2,982.80m in 15 holes (not including abandoned metres). The Company today reports the results from MBDD034 and MBDD035, which include a total of 22 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.
MBDD034 was drilled towards the east (090 degrees) to investigate core-parallel structures identified in holes MBDD026 and MBDD032 (see announcement dated 26 January 2026). Similar core parallel (down-dip) structures were observed in MBDD034, which were interpreted to be conjugate pairs of the core parallel (down-dip) structures observed in MBDD026 and MBDD032 (see announcement dated 12 February 2026). Comparing this observation and the overall intersections in MBDD034 (see Table 1), the 270-degree azimuth was considered preferable to intersect the steeply dipping, broadly NNW-SSE trending breccia zones. However, the intersections reported in hole MBDD034 do not seem to have been significantly biased by core-parallel mineralised structures.
MBDD034 returned a best intersection of 34.80m at 0.63g/t Au from 82.10m, including 7.80m at 1.29g/t Au, 1.00m at 2.21g/t Au, and 1.10m at 1.36g/t Au, and MBDD035 returned a best intersection of 8.70m at 0.81g/t Au from 177.50m, including 1.00m at 4.16g/t Au. Both intersections show higher individual grading intervals within wider envelopes of lower grading material as observed throughout both MB01-S and MB01-N. The highlighted best intersection from MBDD034 is considered comparable to the 21.30m at 3.13g/t Au intersection observed in the hole’s scissor partner (MBDD026), albeit slightly wider and with a lower average gold grade. MBDD035 has returned the deepest intersection to date, increasing the vertical depth of the system to ~194m.
Table 1. Selected intersections from holes MBDD034 and MBDD035, 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 |
| MBDD034 | 52.30 | 53.30 | 0.37 | 1.00m at 0.37g/t Au |
| and | 55.30 | 59.50 | 0.52 | 4.20m at 0.52g/t Au |
| including | 58.50 | 59.50 | 1.08 | 1.00m at 1.08g/t Au |
| and | 65.80 | 66.90 | 0.22 | 1.10m at 0.22g/t Au |
| and | 82.10 | 116.90 | 0.63 | 34.80m at 0.63g/t Au |
| including | 84.30 | 92.10 | 1.29 | 7.80m at 1.29g/t Au |
| including | 105.70 | 106.70 | 2.21 | 1.00m at 2.21g/t Au |
| including | 111.00 | 112.10 | 1.36 | 1.10m at 1.36g/t Au |
| and | 121.50 | 122.60 | 0.24 | 1.10m at 0.24g/t Au |
| and | 123.70 | 124.80 | 0.23 | 1.10m at 0.23g/t Au |
| and | 143.60 | 144.60 | 0.94 | 1.00m at 0.94g/t Au |
| and | 148.20 | 149.30 | 0.43 | 1.10m at 0.43g/t Au |
| and | 152.50 | 154.50 | 0.91 | 2.00m at 0.91g/t Au |
| including | 153.50 | 154.50 | 1.60 | 1.00m at 1.60g/t Au |
| and | 157.80 | 158.90 | 1.04 | 1.10m at 1.04g/t Au |
| and | 179.90 | 181.00 | 0.33 | 1.10m at 0.33g/t Au |
| MBDD035 | 62.85 | 63.95 | 0.22 | 1.10m at 0.22g/t Au |
| and | 117.90 | 120.10 | 0.25 | 2.20m at 0.25g/t Au |
| and | 128.30 | 132.30 | 0.63 | 4.00m at 0.63g/t Au |
| including | 129.30 | 130.30 | 1.61 | 1.00m at 1.61g/t Au |
| and | 151.30 | 153.30 | 0.74 | 2.00m at 0.74g/t Au |
| and | 169.20 | 171.20 | 0.38 | 2.00m at 0.38g/t Au |
| and | 177.50 | 186.20 | 0.81 | 8.70m at 0.81g/t Au |
| including | 178.50 | 179.50 | 4.16 | 1.00m at 4.16g/t Au |
| and | 221.80 | 222.80 | 1.35 | 1.00m at 1.35g/t Au |
| and | 225.80 | 226.80 | 1.09 | 1.00m at 1.09g/t Au |
| and | 231.00 | 233.00 | 0.20 | 2.00m at 0.20g/t Au |
| and | 236.00 | 237.00 | 0.29 | 1.00m at 0.29g/t Au |
| and | 246.10 | 253.20 | 0.49 | 7.10m at 0.49g/t Au |
| including | 250.10 | 251.10 | 1.06 | 1.00m at 1.06g/t Au |
The geological setting at MB01-N is broadly similar to MB01-S, with the dominant lithologies consisting of the orthogneiss-amphibolite basement rock, which in turn has been intruded by numerous shear-hosted granitic felsic dykes and late mafic dykes. The mineralisation is structurally controlled, predominantly hosted by veins and breccias within shear-hosted felsic intrusions. The mineralisation typically occurs within steeply dipping shear corridors, with mineralisation enhanced by brittle failure (brecciation) of the felsic intrusions. However, MB01-N appears to be structurally more complex than MB01-S and assessment of this is ongoing, with the Company’s consultant, SEMS Exploration Services, currently completing an independent review following a site visit earlier this month.
The results of the remaining four holes (MBDD036 to MBDD039) are expected before the end of Q1-2026, including for MBDD038 which 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. This hole will help provide further context on this second high-grade population at MB01-N and thus the geological model, prior to the generation of the maiden MRE for the target in Q2-2026.
Figure 2. Simplified cross section of fence line N874091 with newly reported results from MBDD034, best previously reported intersections from MBDD026 and MBDD032, and interpreted mineralised zones.
Figure 3. Simplified cross section of fence line N873870 with new results from MBDD035, previously reported results from MBDD033, and interpreted mineralised zones.
Now that the drilling programme at MB01-N has been completed, administration is underway to formalise BCM’s 50% beneficial interest in the project, including drafting of a JV partnership. The next phase of exploration at Mbe will be a fully funded step out drilling programme at MB01-S, planned for a provisional 2,500m of diamond drilling, and is scheduled to commence in Q2-2026.
