Oriole Resources Reports Further Mbe Gold Success as MB01-S Resource Upgrade Moves Closer (ORR)

Oriole Resources PLC (LSE:ORR) has released the final results from its Phase 3 step-out diamond drilling programme at the MB01-S deposit within the Mbe gold project in Cameroon. Two additional drill holes returned 13 mineralised intersections, with highlights including 16.40 metres grading 1.65 g/t gold and 27.00 metres grading 0.61 g/t gold.

The latest drilling confirms that mineralisation extends further to the southeast, adding to previously identified growth towards the north and west. The results are expected to support an increase to the current 870,000-ounce resource at MB01-S, with an updated JORC Mineral Resource Estimate being prepared by an independent consultant for release later in the third quarter of 2026. A larger resource at MB01-S could also strengthen the wider 1.23-million-ounce Mbe resource and further enhance the project’s long-term development potential.

Strong Exploration Progress Offsets Financial Weakness

Oriole’s outlook continues to be constrained by its pre-revenue status, ongoing operating losses and continued cash burn. However, the company maintains a debt-free balance sheet, providing financial flexibility as exploration advances.

Technical indicators remain supportive, with the share price trading above key moving averages and positive momentum suggesting improving market sentiment. Valuation is more difficult to assess, as the company remains loss-making and no meaningful price-to-earnings ratio or dividend yield is currently available.

More about Oriole Resources PLC

Oriole Resources PLC is an AIM-listed gold exploration and development company focused on projects across Central and West Africa. Its flagship asset is the 50%-owned Mbe orogenic gold project in Cameroon, which currently hosts a JORC Inferred Mineral Resource Estimate of 1.23 million ounces of gold across the MB01-S and MB01-N deposits.

The company is focused on expanding its resource base through ongoing exploration and drilling, positioning itself as an emerging gold developer in one of Africa’s prospective mining regions.