For all intents and purposes, Cameroon is not known as a key mining destination. However, I believe that AIM-listed Oriole Resources’ first mover advantage could unlock the country’s true gold potential.
Last week Oriole received five new exploration licences in central Cameroon via its 90%-owned subsidiary, Oriole Cameroon. The licences, together with a further three new licences granted to Oriole’s partner, Reservoir Minerals Cameroon.
This represents a contiguous, district-scale land package covering 3,592 km2 of gold-prospective terrane in central Cameroon. The licences have an initial three-year term of a possible total nine years tenure.
Oriole is already involved in more advanced exploration programmes currently ongoing at the Bibemi and Wapouzé projects in the north of the country. Now, the new licences will expand the company’s operational base in Cameroon.
Favourable signs of promise
Oriole’s CEO, Tim Livesey, said, “As first movers in Cameroon, and with further advanced exploration ongoing at our Bibemi and Wapouzé projects in the north of the country, we are extremely pleased to have received formal approval for these additional new licences.
“Based on our in-house prospectivity analysis in 2019, this district-scale grassroots licence package was identified as having significant potential to host orogenic-type gold mineralisation. Key geological attributes of the district include suitable host rock geology, a favourable structural location covering deep crustal structures, and historic evidence of gold mineralisation. We believe that this contiguous package of nearly
3,600 km2, offers exciting Greenfield potential and we look forward to commencing our first-pass exploration programmes during the first half of the year.”
Cameroon’s mineral potential remains vastly untapped. These resources include gold, bauxite, cobalt from lode deposits, granite, iron ore, nepheline syenite, nickel, and rutile. For decades mining has never been a key area of focus. Positively, now green shoots are starting to emerge as companies are looking to start mining in the country.
Oriole’s current position puts it ahead of the curve and I will be closely watching developments unfold in the coming months. Could Oriole be the key that finally unlocks the country’s true gold potential?
Source: Mining Review