Oriole Resources (AIM:ORR), the AIM-listed gold exploration and development company focused on Central and West Africa, has increased the total JORC inferred mineral resource at its Mbe orogenic gold project in Cameroon to 1.66 million ounces of contained gold, at a mean grade of 1.02g/t.
The uplift follows an updated estimate for the MB01-S deposit, prepared by independent consultant Forge International, which now stands at 1.3 million ounces at a grade of 1.01g/t, roughly 50% higher than the maiden estimate of 870,000 ounces published in October.
The increase follows a 10-hole step-out drilling programme totalling 2,476.8 metres, completed last month, with the deposit still open in all directions.
Combined with the 360,000 ounce inferred resource at the neighbouring MB01-N deposit, published in April, the MRE at Mbe now spans a strike length of approximately 1,200 metres and a maximum vertical depth of 287 metres.
Both estimates are based on a $3,200 per ounce gold price and a 0.40g/t cut-off grade.
"The current gross contained gold of 1.66Moz in the MRE for the Mbe project is a tremendous achievement and we maintain our firm opinion that the Mbe project licence has multi-million-ounce gold potential", said chief executive Martin Rosser.
Oriole holds a 50% beneficial interest in Mbe through Oriole Cameroon SARL, with the remaining 50% held by partner BCM International following completion of its earn-in.
Rosser noted the milestone lifts Oriole's attributable resource across all its gold projects to 1.11 million ounces.
Oriole and BCM are now planning work programmes for the 2026/27 field season, with drafting of a formal joint venture partnership agreement still in progress.
News Intelligence what this means for the company
Oriole has delivered on its early-Q3 2026 target to publish an updated MB01-S JORC resource, lifting the deposit to 1.3 million ounces—a 50% increase from the 870,000 ounce maiden estimate published in October—and pushing total Mbe inferred gold to 1.66 million ounces. The deposit remains open in all directions after a 2,476.8-metre step-out programme, and the company now attributes 1.11 million ounces across all its gold projects, a material expansion of its resource base.
- BCM International, which holds the remaining 50% of Mbe after completing its earn-in, is now party to joint venture work programme planning for 2026/27; formal JV partnership documentation is still in progress.
The 50% resource uplift at MB01-S, combined with the deposit's open geometry and the company's stated view of multi-million-ounce potential at Mbe, materially strengthens the project's development case. However, the resource remains entirely inferred (no indicated or measured categories), and the company is still drafting formal JV terms with its 50% partner, leaving execution risk on the path to feasibility and production.
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