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Oriole hails Djibouti exploration project amid fresh investment

By BFN News | 09:40 AM | Thursday 01 October, 2020


Mining and exploration company Oriole Resources said an investment in an African gold mine had received new funding, coinciding with the completion of the first phase of drilling. Thani Stratex Djibouti, in which Oriole has an 11.8% interest, secured a second tranche of funding from African Minerals & Development Fund III, it said. The proceeds will fund the second phase of drilling at the Hesdaba gold project in Djibouti in west Africa. Oriole CEO Tim Livesey said: "The recent significant results from this programme help to confirm the original mineralisation model and give further confidence that the systems on the property have the potential to host a scalable resource. "This confidence is shared by the investors who have agreed to the next phase of funding, allowing exploration efforts to expand into the Assaleyta area." At 9:40am: (LON:ORR) Oriole Resources Plc Ord 0.1p share price was -0.01p at 0.41p Story provided by StockMarketWire.com

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