Oriole to start diamond drilling campaign at Wapouze

17th Jun 2026 14:38

(Sharecast News) - Oriole Resources said on Wednesday that it is set to begin a maiden 1,000-metre diamond drilling programme at its 85%-owned Wapouzé limestone project in north-eastern Cameroon as it seeks to define a maiden resource for the asset.]

The AIM-traded explorer said the programme would target outcropping limestone and marble units previously classified as high-grade carbonate material suitable for use in cement production.

The company believes the drilling could support the estimation of a JORC exploration target and potentially a maiden mineral resource estimate.

To fund the work, Oriole has agreed a "drill for equity" arrangement with BCM International, which will cover $120,000 of direct drilling costs in exchange for 24.4 million new shares issued at 0.36p each.

Chief executive Martin Rosser said Wapouzé had "serious economic potential" as a potential source of limestone for cement production in Cameroon and neighbouring Chad, while the company continues discussions with industrial partners regarding the project's future development.

At 1349 BST, shares in Oriole Resources were up 4.99% at 0.35p.

Reporting by Josh White for Sharecast.com.

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