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West Africa focused exploration company Oriole Resources has announced that its joint venture partner IAMGOLD Corporation will shortly restart its 10,000 metre air core drilling campaign at the Senala project in Senegal.
Prior to the seasonal rains, IAMGOLD had already completed 1,300m AC drilling at the northernmost Fare prospect and will resume its programme there later this month. Initial results from the programme are anticipated in the first quarter of 2021.
Ahead of these new results, the Company has recalculated all historic reverse circulation and diamond drilling results for Fare from Stratex International's programmes in 2013 and 2014, using a 0.3 gramme per tonne ('g/t') gold ('Au') cut off and 3m maximum consecutive internal dilution. Best results include 20m grading 31.13 g/t Au including 10m grading 60.98 g/t Au from RC drilling and 59.60m grading 2.20 g/t Au and 49.50m grading 1.75 g/t Au from diamond drilling.
Under the terms of the option agreement, IAMGOLD is approaching the end of its year three commitment to spend up to $8 million to earn a 7% interest in Senala.
At 10:02am: (LON:ORR) Oriole Resources Plc Ord 0.1p share price was +0.02p at 0.49p