Oriole Resources PLC (AIM:ORR) CEO Martin Rosser talked with Proactive's Stephen Gunnion about the company’s updated Mineral Resource Estimate (MRE) for the Bibemi Gold Project in Cameroon. Rosser confirmed a significant uplift in contained gold at Bakassi Zone 1 (BZ1), with the new estimate standing at 460,000oz—comprised of 100,000oz in the Indicated category and 360,000oz in the Inferred category. The average grade is just over two grams per tonne, based on a gold price of US$2,750/oz.
The new figure represents a 23% increase compared to the January 2024 MRE and is based on just 7,000m of drilling. Rosser highlighted the strong conversion rate and noted the geometrically unified block’s suitability as a starter pit.
He also shared a new JORC exploration target across Bakassi Zones 1 and 2, as well as Lawa East and West, estimating an additional 145,000oz to 400,000oz of contained gold.
Discussing mineral processing, Rosser said: “It bodes well for the ongoing next steps.” He detailed test work from SGS and CS Solutions, which supported a proposed flow sheet achieving around 85% gold recovery through flotation, pressure oxidation, and cyanide leaching.
Looking ahead, the company will begin preliminary economic assessment studies and advance its exploitation license application with the Cameroonian government.
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