Strategy & Vision
Oriole Resources is focused on creating shareholder value through the development of quality exploration assets.
Principal Activities
The principal activity of the Group is the exploration and development of gold and other metals in West and Central Africa.
Strategy and Vision
The Company’s strategic intent is to maximise shareholder value, through quality exploration in highly gold-endowed terranes throughout Africa (e.g. Birimian and Archean). It is focussed on early-stage exploration in Cameroon, Our main activity where the Company identified multi-kilometre long gold anomalies within it’s Central Licence Package, including at it’s flagship Mbe project. At Mbe, the Company has published a Mineral Resource estimate of 870,000 oz contained Au at 1.09g/t Au in the JORC Inferred category at the MB01-S sub-prospect, one of two sub-prospects that make up the MB01 prospect. A JORC Exploration Target has also been published at MB01-N, the second sub-prospect that makes up MB01, which stands at between 15 and 20Mt with grades ranging from 0.77 to 0.95g/t Au for 370,000 to 605,000 oz contained Au. At the Company’s more advanced Bibemi project in northern Cameroon, a Mineral Resource estimate of 460,000 oz contained Au at 2.06g/t in the JORC Indicated and Inferred categories at the Bibemi project, and the Company has applied for an Exploitation Licence. BCM International is currently earning up to a 50% interest in the Bibemi and Mbe projects in return for a combined investment of US$1.5 million in signature payments, up to US$8 million in exploration expenditure, as well as JORC resource-based success payments.
At the Senala gold project in Senegal, AGEM Senegal Exploration Suarl (‘AGEM’), a wholly owned subsidiary of Managem Group, has completed a six-year earn-in to acquire an approximate 59% beneficial interest in the Senala Exploration Licence by spending US$5.8 million. The Company has reported a Resource of 155,000oz contained gold at 1.26g/t Au in the JORC Inferred category for the Faré South prospect, and an additional, complementary Exploration Target range of 17 to 24Mt at a grade of 0.69 to 0.84g/t Au for 380,000 to 650,000oz contained gold for all prospects at Senala. Discussions on the formation of a joint venture company are currently underway. The Company also has several interests and royalties in companies operating in East Africa and Turkey that could give future cash payments.