Northern Zone Gold Project Update
15 May 2025
Oracle Power PLC
("Oracle" or the "Company")
Approved Programme of Works including additional 200 Drill Holes
at the Northern Zone Gold Project in Western Australia
Oracle Power PLC (AIM: ORCP), an international project developer, is pleased to announce that the Department of Energy, Mines, Industry Regulation and Safety ('DEMIRS') has approved a Programme of Works ('PoW'), including a further 200 drill holes, along with other current and planned activities, to move the Northern Zone Intrusive Hosted Gold Project ('Northern Zone'), located 25 km east of Kalgoorlie in Western Australia, towards a maiden Mineral resource Estimate ('MRE').
Highlights:
· PoW for a further two hundred (200) drill holes approved by DEMIRS
· High resolution drone magnetic survey planned to be undertaken later this week
· High resolution magnetics to be used for structural interpretation
· Structural logging of four diamond drill holes to a vertical depth of 500 metres underway, by specialist consulting group Xiraltem, in preparation of structural and geological model for maiden MRE
· MRE planned to be undertaken shortly
· Metallurgical testwork underway on oxide mineralisation to add to confidence of previous testwork
· Mining Licence application continues through the process, with updates expected later this month
· Miscellaneous Licences applied for, from Northern Zone to gazetted roads, to allow transport of ore to processing plants
Naheed Memon, CEO of Oracle, commented: "Leading into the maiden MRE, there are multiple programmes that will value add to potentially moving Northern Zone up the value chain. It's great that we gained approval for further drilling in the same day we applied for a PoW of another 200 drill holes. We also have metallurgy of the oxide mineralisation underway, as well as Mining Licence approval, and application for a Miscellaneous licence that allows connection of Northern Zone to toll treatment processing plants in the local area. The structural and geological model being completed by Xirlatem on diamond core will continue the solid basis for the maiden MRE. We will continue to update shareholders as we progress the project."
The company has contracted Xirlatem, a Kalgoorlie based structural consulting group, to review and relog four diamond drill holes drilled across a 600m traverse, to confirm the structural and geological model. This will lay the foundation for a maiden MRE. In conjunction with this, metallurgical testwork is underway on oxide mineralisation to add to confidence of previous testwork.
The Mining Licence application is progressing through the Native Title advertising period, that ends in late May 2025. We have also applied for a Miscellaneous Licence that connects Northern Zone to gazetted roads to allow uninterrupted access to all toll treatment processing plants in the Kalgoorlie area. Furthermore, the company expects to receive assay results from ALS Laboratories soon.
For further information on Oracle, please visit the Company's website at http://www.oraclepower.co.uk or contact:
Oracle Power PLC
Naheed Memon - CEO +44 (0) 203 580 4314
Strand Hanson Limited (Nominated Adviser & Broker)
Rory Murphy, Matthew Chandler, Rob Patrick +44 (0) 20 7409 3494
St Brides Partners Limited (Financial PR)
Susie Geliher, Isabel de Salis oracle@stbridespartners.co.uk
RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
Latest directors dealings
- 10 hours ago Johnson Matthey
- 11 hours ago Galliford Try
- 12 hours ago Galliford Try
- 12 hours ago Centrica
- 12 hours ago Smith & Nephew