Oriole Resources said positive drilling results had been recorded at the Dalafin project in Senegal.
The company owns 85% of the prospect, though IAMGOLD Corporation has an option to spend up to $8M to earn a 70% interest.
Highlights from 24 drill holds included intersecting 8.0 metres at 2.56 grams per tonne of gold.
'We are encouraged to see positive results from the drilling results received so far for the Madina Bafe area of the Dalafin licence,' chief executive Tim Livesey said.
'The intersections confirm and extend the known areas of anomalism and as such continue to add to our understanding and confidence in this target area.'