Greenwood Research Report
Oriole Resources PLC announced that Greenwood Capital Partners has published a research report highlighting the Mbe project's resource exceeding 1 million ounces, specifically detailing 1.23 million ounces of contained gold. The report breaks down this resource into 870,000 ounces at 1.09g/t Au for the MB01-S deposit and 360,000 ounces at 1.05g/t Au for the MB01-N deposit. A fully funded 2,500m drilling program is underway at MB01-S to further increase the Mbe resource, and BCM has earned a 50% interest in the project following the completion of the MB01-N drilling and meeting financial commitments.
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Oriole Resources PLC (AIM: ORR), the AIM-quoted gold exploration company focused on Central and West Africa, is pleased to announce that Greenwood Capital Partners has published a further research report (the "Report") on the Company, commissioned by Oriole.
The Report, entitled 'Mbe project blasts through the 1Moz mark', is available to view via the Company's website at https://orioleresources.com/investors/analyst-coverage/
Background on Mbe
After highly encouraging results from infill soil sampling, rock-chip sampling, and trench sampling, a fully funded maiden drilling programme at the MB01-S target was completed in September 2025 for 6,828.40m in 24 holes. Best drilling results included 86.50m at 1.36g/t Au from 22.00m including 39.40m at 2.00g/t Au (hole MBDD008), 21.30m at 1.61g/t Au from 2.40m (MBDD012) and 6.15m at 19.67g/t Au from 113.50m, including 1.00m at 119.10g/t Au (MBDD019). In October 2025, a maiden MRE was published for the MB01-S deposit of 870,000oz at 1.09g/t, using a US$3,200/oz gold price and a cut-off grade of 0.40g/t Au. Mineralisation at MB01-S remains open in all directions and at depth and is in part being targeted by the on-going, fully funded, MB01-S step out drilling programme which commenced in March 2026.
At the MB01-N target, 700m to the northeast of MB01-S, a 2,982.80m drilling programme in 15 holes was completed in February 2026. Best drilling results included 21.70m at 3.13g/t Au including 7.20m at 8.19g/t Au (from hole MBDD026), 56.20m at 0.99g/t Au including 14.60m at 2.03g/t Au and 24.00m at 0.37g/t Au including 2.00m at 2.21g/t Au (from hole MBDD039), and 16.10m at 2.49g/t Au including 1.00m at 28.60g/t Au, 2.00m at 6.57g/t Au and 14.80m at 0.73g/t Au (from hole MBDD027). The maiden MRE was published in April 2026 and stands at 360,000oz at 1.05g/t, using a using a US$3,200/oz gold price and a cut-off grade of 0.40g/t Au. This has increased the total resource at Mbe which currently stands at 1.23Moz contained Au.
Following completion of the MB01-N drilling programme, and the meeting of various financial commitments, BCM has acquired 50% interest in the project and work remains underway to formalise this interest.
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.