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Oriole Resources Notes Completion Of IAMGOLD Senegal Prospect Drilling

(Alliance News) - Oriole Resources PLC on Monday said 4,167 metres of shallow aircore drilling at ...

Alliance News 5 August, 2019 | 1:09PM
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(Alliance News) - Oriole Resources PLC on Monday said 4,167 metres of shallow aircore drilling at the Dalafin gold project in Senegal is now complete, finding a 3.5 kilometre long anomaly south of the Madina Bafe prospect.

Shares in exploration company Oriole were down 2.6% at 0.37 pence in early afternoon trading.

IAMGOLD Corp - which has the option to spend up to USD8 million to earn a 70% interest in the licence - completed 4,167 metres of a planned 5,000 metre drill programme at Madina Bafe. This is part of IAMGOLD's year two commitment.

Drill results included 235 parts per billion of gold, the best grade, and "outlined multiple new anomalies" south of Madina Bafe. The project has been paused during the wet season in Senegal but will start again in October.

Results for the 869 hole drilled also found a 3.5 kilometre long anomaly, trending north-east, related to a previous 0.4 kilometres anomaly in the southwest, as well as a 2 kilometre long anomaly to the north.

Oriole Chief Executive Time Livesey said: "We are very pleased to see the excellent progress to date at Madina Bafe 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 Bafe to a substantial 16km. 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," Livesey added.

"We are confident that follow-on [reverse circulation] drilling will provide further definition of these targets at Madina Bafe, and that more anomalism will be identified as the programme extends to the Saroudia area."

By Anna Farley; annafarley@alliancenews.com

Copyright 2019 Alliance News Limited. All Rights Reserved.

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Securities Mentioned in Article

Security Name Price Change (%) Morningstar
Rating
Oriole Resources PLC 0.28 GBX 1.82 -

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