Oriole reports more encouraging results from Mbe drilling

12th Feb 2026 13:37

(Sharecast News) - Oriole Resources said on Thursday further assay results from its maiden drilling campaign at the MB01-N target on the 90%-owned Mbe gold project in Cameroon had extended the width and strike length of the mineralised system, which remains open in all directions.

The AIM-traded gold explorer reported results from holes MBDD031 to MBDD033 from the ongoing 2,950 metre diamond drilling programme.

All three holes intersected gold mineralisation and have expanded the confirmed footprint of the system to at least 300 metres in width, 550 metres in length and 185 metres vertical depth.

Hole MBDD031 returned seven metres at 1.02 grams of gold per tonne from 49.5 metres, including one metre at 3.99 grams per tonne, alongside one metre at 4.42 grams per tonne from 17.5 metres, one metre at 2.63 grams per tonne from 37.4 metres, and two metres at 1.51 grams per tonne from 113.7 metres, including one metre at 2.67 grams per tonne.

It said hole MBDD033 intersected 1.1 metres at 4.39 grams of gold per tonne from 177.2 metres, one metre at 2.03 grams per tonne from 154.9 metres, 1.1 metres at 1.47 grams per tonne from 108.5 metres, 4.2 metres at 0.49 grams per tonne from 14.9 metres and two metres at 0.79 grams per tonne from 47 metres.

Oriole also reported that hole MBDD032 returned four metres at 0.35 grams per tonne from 212.5 metres.

Additional sampling in hole MBDD028 identified two low-grade intervals.

The fully-funded programme was about 90% complete, with around 2,650 metres drilled across 13 holes and two holes remaining.

Drilling was expected to finish early in the second quarter of 2026, after which the company's consultant would prepare a maiden JORC-compliant mineral resource estimate for MB01-N.

The firm said the new resource would add to the existing 870,000-ounce JORC resource at the nearby MB01-S deposit, where a fully-funded step-out drilling campaign was scheduled to start in the second quarter of 2026.

"The latest set of drilling results has significantly extended the mineralised system dimensions, yet it remains open in all directions," said chief executive Martin Rosser.

"We look forward to the conclusion of the programme and reporting the remaining drill hole results and the revised MRE."

At 1315 GMT, shares in Oriole Resources were up 2.86% at 0.36p.

Reporting by Josh White for Sharecast.com.