By: Energy capital & power

Gold exploration company Oriole Resources has completed its Phase 5 drilling program at the Bibemi Gold Project in Cameroon, drilling 56 holes across a 6.9 km area. The results of the remaining seven holes in the program are expected this quarter, following which a review of all drilling data conducted to date will be completed.

Launched in June 2024, the campaign aims to enhance the understanding of gold mineralization at the site, with previous drilling results indicating an inferred Mineral Resource Estimate (MRE) of 375,000 ounces across four key prospects. The program will facilitate the partial upgrade of the inferred MRE to measured categories, helping the company assess the project’s potential value.

Going forward, Oriole Resources will continue drilling using a single rig to optimize costs while conducting metallurgical test work as well as technical, environmental and social studies to expedite exploitation license application process.

The company holds a 90% stake in the project, while BCM International owns the remaining 10%, with an option to increase its share to 40% by investing $4 million in further exploration.