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Oriole Resources Plc
Summary
| Project: | Dalafin | |
|---|---|---|
| Deposit: | Madina Bafe | |
| Location: | Senegal | |
| Commodities: | Gold | |
| Date: | 8/5/2019 | |
| Report Code: | (no Code) | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 5-8-2019: Oriole Resources Plc announces an Exploration/Drilling Update report for its Madina Bafe deposit at the Dalafin project. AC drilling results incl. up to 235 ppb Au. Oriole Resources, the AIM-quoted exploration company operating in Africa and Eur | |
| Resources: | x | |
| CP/QP: | [Overall Report]: Claire Bay (Internal) | |
| ABSTRACT: | Oriole Resources, the AIM-quoted exploration company operating in Africa and Europe, is pleased to provide an exploration update on its 85%-owned Dalafin gold project ("Dalafin" or the "Project") located in the Kédougou-Kéniéba inlier of eastern Senegal, where IAMGOLD Corporation ("IAMGOLD") has the option to spend up to US$8M to earn a 70% interest (announcement dated 1 March 2018). IAMGOLD has completed 4,167 metres ("m") of a planned 5,000m programme of shallow aircore ("AC") drilling at the Madina Bafé prospect ("Madina Bafé" or the "Prospect") as part of its Year 2 commitment (announcement dated 28 February 2019). Results include a best grade of 235 parts per billion ("ppb") gold ("Au") and have outlined multiple new anomalies in the south of the Prospect as well as in a new area several kilometres ("km") to the north. The programme has now stopped for the wet season and will resume in October. Oriole Resources CEO, Tim Livesey, said: "We are very pleased to see the excellent progress to date at Madina Bafé and look forward to the programme recommencing here and at Saroudia after the rains. "The identification of yet more gold targets has expanded our area of interest in the south of Madina Bafé to a substantial 16km2. The identification of a further 2km long anomaly several kilometres north of this, leaves us convinced of the more prospective nature of our Dalafin licence within this highly endowed geological terrane. "We are confident that follow-on RC Drilling will provide further definition of these targets at Madina Bafé, and that more anomalism will be identified as the programme extends to the Saroudia area." | |
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