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Highlights

  • 44% of Phase 1 drilling completed with nearly 2,900 metres drilled to date
  • Assay results from two drill holes yield 30 mineralised gold intersections
  • Maiden Mineral Resource Estimate targeted for release in second half of 2025

Oriole Resources PLC (AIM: ORR) has issued an operational update on its 90% owned Mbe orogenic gold project in Cameroon, where the company is progressing with Phase 1 of its maiden drilling programme.

As of the latest reporting, 2,895.10 metres have been drilled across nine completed holes, with a tenth currently underway. This represents approximately 44% of the planned programme. The primary drill target, MB01-S, is being assessed for its potential to host bulk-tonnage, open-pit mineable gold mineralisation.

Assay results have been received for drill holes MBDD005 and MBDD006, which together represent over 600 metres of drilling. These two holes returned a combined total of 30 mineralised intersections using a lower cut-off grade of 0.20 grams per tonne (g/t) gold. Highlights from MBDD005 include 23.10 metres at 0.71 g/t Au from 76.00m depth, while MBDD006 returned 13.80 metres at 0.61 g/t Au from 103.10m. Additional smaller intersections were also reported from both holes.

The mineralisation appears to be associated with sulphide-rich quartz veins and breccias primarily hosted within quartz-feldspar porphyry units. Drilling to date has confirmed gold-bearing zones extending to approximately 150 metres below surface along the current drill line.

Samples from MBDD007 and MBDD008 have been dispatched to Bureau Veritas in Côte d'Ivoire for fire assay testing, with results expected later this quarter. The full programme is on track for completion in Q3 2025, with a maiden pit-constrained Mineral Resource Estimate (MRE) anticipated in the second half of the year.

This latest update marks continued exploration activity at the Mbe project as the company seeks to better define the geometry and extent of the mineralised system in preparation for resource modelling and potential future development decisions.