Oriole Resources (LON: ORR) shares are trading higher on Thursday after the company said it has identified 12 initial priority gold targets after an independent desktop remote sensing study at its 90% owned district-scale license package in central Cameroon.
The company said the study was completed over the entire 3,592 km2 licence package with the 12 initial priority targets being given particular attention during Oriole’s planned mapping and stream sediment sampling programs later in H1 2021.
The AIM-listed firm said a reconnaissance visit was completed to complete the initial ground-truthing of the targets and inform the local authorities of its upcoming work programmes.
Regional-scale mapping and stream sediment sampling is planned to commence in H1 2021.
“Whilst these 12 ‘first-pass’ remote sensing targets look interesting from a desktop analysis point of view, we will also be carrying out a wider, district-scale stream sediment sampling programme and mapping, as the main part of the 2021 programme across the entire Licence Package,” said Tim Livesey, Oriole Resources CEO.
“We have already had encouraging indications from our team’s initial reconnaissance visit on the licences just last week, with evidence of alluvial gold in streams being identified,” added Livesey.
The company shares are trading over 8% higher on Thursday morning at 1.54p.
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