StockMarketWire.com - Oriole Resources announced on Thursday that a reverse circulation drilling programme to a depth of 3,000m was now underway at its Dalafin project in eastern Senegal, which it expected to complete by the end of the year.

Canadian firm IAMGOLD was undertaking the drilling in line with its option to earn a 70% interest on US$8m in exploration costs.

IAMGOLD confirmed that the drilling would target three zones: a 1.5km-long, broadly west-northwest-trending anomaly; an artisanal mining site in the northeast of the licence and a gold anomaly extending over 400m.

The majority of the holes would be drilled towards the north-west, at a 50m hole spacing and to a depth of 100m.

The company had also mobilised a second rig where it would commence a 500m diamond drilling programme shortly to validate the two best intersections.

Holes would be drilled towards the east and to a depth of 100m and 150m at each target, respectively. IAMGOLD expected to complete this programme before the end of the year, too.




At 8:49am: [LON:ORR] Oriole Resources Plc Ord 0.1p share price was -0.02p at 0.36p



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