Oriole signs earn-in deal with BCM International in Cameroon
The agreement follows a previous deal for the Bibemi gold licence and marks a significant step in the development of the project.
Oriole Resources has entered a definitive earn-in deal with BCM International for its Mbe gold project in Cameroon.
The agreement follows a previous deal for the Bibemi gold licence and marks a significant step in the development of the Mbe project.
Covering an area of 312km², the Mbe gold project is part of the larger 2,266km2 Eastern CLP package in central Cameroon.
During 2023, Oriole Resources identified a 3km-long zone of high-grade gold mineralisation within the project area, with surface samples yielding up to 134.10g per tonne of gold.
Under the terms of the Mbe earn-in agreement, BCM International will acquire up to a 50% interest in the project.
See Also:
- Orla Mining enters definitive deal to acquire Contact Gold
- Yintai Gold signs $272m deal to acquire Osino Resources
This is contingent on meeting certain commitments including a $1m signature payment, $4m in exploration expenditure and additional success-based payments linked to resource discovery.