viewOriole Resources PLC

Oriole Resources sets the drill rigs turning at Faré

Joint venture partner IAMGOLD has now been on the ground with Oriole for three years


Oriole Resources PLC (LON:ORR) has initiated a 10,000 metre air core drilling campaign at the Faré target on its Senala project in Senegal, where joint venture partner IAMGOLD Corporation has the option to spend up to US$8mln to earn a 70% interest.

"We are delighted to see the start of drilling at the Faré prospect, in the north of the Senala licence," Oriole chief executive Tim Livesey said in a statement.

“IAMGOLD has mobilised as quickly as possible, despite the restrictions imposed by the Covid-19 pandemic, and is now carrying out their planned 10,000 m AC drill programme which marks its third year of investment with Oriole,” he added.

Livesey highlighted strong historic intercepts at Faré, including seven metres grading 86.39 grams per tonne.

"The footprint of gold anomalism extends in excess of six kilometres in the main trend, with several potential additional offsets of mineralisation identified by previous soil sampling programmes. Recent success by Chesser Resources on its Diamba Sud prospect just 10 kilometres east, combined with historical drilling at Faré, confirms the prospectivity of the area and the potential for the discovery and development of a stand-alone mining project,” he added.

Quick facts: Oriole Resources PLC

Price: 0.38 GBX

Market: LSE
Market Cap: £5.55 m

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events


The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of Oriole Resources PLC named herein, including the promotion by the Company of Oriole Resources PLC in any Content on the Site, the Company...


Capital Network analyst on Oriole Resources as it refocuses on Africa

Capital Network's Christopher Ecclestone discusses Oriole Resources PLC (LON:ORR) - an exploration company, operating in Africa and Europe but with some legacy exposure through investment in, and royalties on, the projects it incubated in Turkey since its listing in 2006. Oriole's focused...

on 18/4/19

2 min read