| Announcement Date: | 2022-01-17 |
|---|---|
| Announcement Type: | Drilling Results |
| Announcement Code: | (no Code) |
| Company name: | Oriole Resources Plc |
| Project name: | Senala |
| Location: | Senegal |
| Commodities: | Gold |
| Highlight: | Drilling results incl. 5m @ 12.45g/t Au from 92.0m |
| Resources: | only available to subscribers |
| CP/QP: | only available to subscribers |
| Announcement summary: | Oriole Resources PLC (AIM: ORR), the AIM-quoted exploration company focussed on West Africa, is pleased to provide an update on its Senala gold project (‘Senala’ or the ‘Project’) in Senegal, where joint venture partner IAMGOLD Corporation (‘IAMGOLD’) has the option to spend up to US$8 million to earn a 70% interest (announcement dated 1 March 2018). Results from the recently completed 2,148 metres (‘m’) reverse circulation (‘RC’) drilling at the Faré prospect (‘Faré’ or the ‘Prospect’) have extended mineralisation along strike at all three main anomalies, delivering results of up to 5.00m grading 12.45 grammes per tonne (‘g/t’) gold (‘Au’), including 2.00m grading 26.61 g/t Au. Under the terms of an Option Agreement on the 472.50km 2 Senala licence, IAMGOLD is currently in Year 4 of its investment period with a planned exploration budget of at least US$1.672 million (announcement dated 29 March 2021). The Year 4 programme has largely focussed on the Faré prospect (announcement dated 29 July 2021), where the Company has previously defined mineralisation at three main anomalies (Faré North , Faré South and Faré Far South ) over a strike length in excess of 6km (announcements dated 4 December 2012 and 6 June 2016). The Phase 1 programme comprised 689.50m diamond drilling in two holes at Faré South and 4,854m RC drilling in 42 holes across Faré North (three fence lines) and Faré Far South (two fence lines). Results delivered the following best intersections from each of the anomalies and confirmed that the orogenic gold system at Faré South continues to a depth of at least 350m (announcements dated 16 August 2021 and 18 August 2021) |
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