Northern Zone Update
Summary by AI BETAClose X
25 February 2026
Oracle Power PLC
("Oracle" or the "Company")
Gold Mine Development Plan and Drilling Update - Kalgoorlie Gold Project
Oracle Power PLC (AIM: ORCP), an international project developer, is pleased to announce the completion of a further grade control 31 drill holes for 2,013 metres at the Northern Zone Intrusive Hosted Gold Project ("Northern Zone" or the "Project"), located within the Company's Kalgoorlie Gold Project just 25 km east of Kalgoorlie in Western Australia (refer to Figure 1 for location). Marking the commencement of the 2026 drilling campaign, the Company has submitted 1,475 samples for assay with results expected in batches in the coming weeks.
Highlights
· 31 new shallow drill holes (2,013m) have been completed at the Northern Zone, between the central and eastern mineralisation zones
· Samples submitted for analysis and results will be reported in batches in coming weeks
· Mine Development and Closure Plan (MDCP) and associated environmental assessments progressing well in collaboration with Resources-WA and the joint venture's production partner, MEGA Resources (MEGA)
· MDCP work completed to date or underway includes:
· Four geotechnical pre-collar drill holes to depths of ~70m for pit slope stability assessment work
· These four geotechnical holes will now be diamond-tail drilled to a total depth of 100m each and structurally logged by Xirlatem in Kalgoorlie, with compression strength testing to be undertaken in Perth
· Water bore hole successfully completed and tested
· Stakeholder engagement schedule completed
· Flora and Fauna survey in progress
· Ore/waste samples taken and characterisation analysis underway
· Topsoil analysis for rehabilitation studies underway
· Conversion of the tenement to a Mining Lease is well advanced and, as previously announced, expected in the coming weeks
· Right to Mine and Co-Operation Agreement with MEGA Resources for the Project signed September 2025[1]
· MEGA to provide all development and mining funding for Northern Zone on a 50/50 profit share.
Naheed Memon, CEO of Oracle, commented:
"We continue to make excellent progress towards gold extraction from the Northern Zone with mining expected to start later this year through our MEGA Resources transaction, which was announced in September last year. Now that we can see a clear path for the grant of the Mining Lease in the coming weeks, we are actively engaged with our consulting teams to have the Mine Development and Closure Plan ready for lodgment with the relevant WA Government authorities, ticking another important box.
"Our first drill programme for the 2026 campaign has just been completed, and results will be reported in the coming weeks."
As previously announced, all objections to the application for a Mining Lease (M25/389) covering the Northern Zone have been resolved and the Company is working to have the Mining Lease expeditiously granted by the Department of Mines Petroleum and Exploration (DMPE).
The Northern Zone MDCP and the associated environmental assessments are progressing well in conjunction with Resources-WA and the joint venture's project development partner, MEGA Resources, with a number of activities completed or underway:
· Four geotechnical pre-collar drill holes to depths of ~70m for pit slope stability assessment work
· These four geotechnical holes will now be diamond-tail drilled to a total depth of 100m each and structurally logged by Xirlatem in Kalgoorlie, with compression strength testing to be undertaken in Perth
· Water bore hole successfully completed and tested
· Stakeholder engagement schedule completed
· Flora and Fauna survey in progress
· Ore/waste samples taken and characterisation analysis underway
· Topsoil analysis for rehabilitation studies underway
The latest drill programme focused on a largely untested area between the central and eastern mineralised zones. A key SW-NE cross-section derived from 3D Leapfrog software and gold grade shells will be updated shortly.
<END>
For further information on Oracle, visit the Company's website at http://www.oraclepower.co.uk or contact:
Oracle Power PLC
Naheed Memon - CEO +44 (0) 20 3580 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, Will Turner +44 (0) 20 7236 1177
This announcement contains inside information for the purposes of Article 7 of EU Regulation No. 596/2014, which forms part of United Kingdom domestic law by virtue of the European Union
(Withdrawal) Act 2018, as amended by virtue of the Market Abuse (Amendment) (EU Exit) Regulations 2019.
Figure 1: Location of Northern Zone Project showing proximity to the Kalgoorlie "Super Pit", Golden Mile/Fimiston.
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