Highlights

  • First two MB01-N drill holes intersected multiple gold zones, including higher-grade intervals at depth.
  • Geological features at MB01-N show similarities to the nearby MB01-S deposit.
  • Maiden drilling programme at MB01-N is nearly halfway complete and progressing as planned.

Oriole Resources PLC (LSE:ORR), an exploration company with projects in West and Central Africa, has released initial results from its maiden diamond drilling programme at the MB01-N target within the Mbe gold project in Cameroon. The programme comprises 2,950 metres of drilling and is focused on evaluating mineralisation potential at MB01-N, located around 700 metres northeast of the MB01-S deposit.

Drilling Results Overview
Assay results from the first two drill holes, MBDD025 and MBDD026, have confirmed the presence of gold mineralisation across multiple intervals. Hole MBDD026 returned a notable intersection of 21.70 metres grading 3.13 g/t Au from a downhole depth of 86.80 metres. This interval included narrower, higher-grade sections such as 7.20 metres at 8.19 g/t Au and an individual interval of 1.00 metre at 42.50 g/t Au.

Hole MBDD025 also intersected several mineralised zones, including 16.20 metres at 0.77 g/t Au from 37.20 metres, which contained a higher-grade section of 10.10 metres at 1.08 g/t Au. Additional lower-grade intervals were recorded at various depths in both holes, consistent with mineralisation styles observed elsewhere within the project area.

Geological Interpretation
Initial geological and structural analysis indicates that MB01-N shares key characteristics with the MB01-S deposit. Mineralisation at MB01-N is associated with NNW-trending breccia zones formed by intersecting structural features. These zones are interpreted to host narrow high-grade mineralisation within broader, lower-grade envelopes.

The lithological setting consists primarily of orthogneiss and amphibolite basement rocks intruded by felsic and late-stage mafic dykes. Gold mineralisation appears to be structurally controlled, occurring within steeply dipping shear zones that have undergone brittle deformation, enabling hydrothermal fluid flow.

Programme Status and Next Steps
The MB01-N drilling programme commenced in November 2025 and is fully funded. As of the latest update, approximately 46% of the programme has been completed, with six holes drilled and a seventh currently underway. The programme is scheduled for completion in Q1 2026.

MB01-N currently carries a JORC Exploration Target of 15 Mt to 20 Mt at grades ranging from 0.77 g/t Au to 0.94 g/t Au, equating to an estimated 370,000 oz to 605,000 oz of contained gold. The ongoing drilling is intended to support the conversion of this exploration target into a JORC-compliant mineral resource.

Share Performance
ORR was trading at GBX 0.32, down by 1.52% on 7 Jan 2025.