Metallurgy of Oxide Samples show +90% Gold Recovery
Final Assay Results for Recent Drilling Programme
Oracle Power PLC (AIM: ORCP), an international project developer, is pleased to announce further positive metallurgical results above 90% gold recovery, along with the final drilling results from recent drill programmes at the Northern Zone Intrusive Hosted Gold Project (“Northern Zone” or the “Project”), located 25km east of Kalgoorlie in Western Australia (refer to Figure 1 for location). This work is aimed at progressing the Project towards a maiden Mineral Resource Estimate (MRE).
Highlights:
o Metallurgical testing, using the cyanide bottle roll method, indicated gold recoveries from two oxide samples of:
– 93.67% and 90.64% (duplicate sample), a 92.16% average.
– Similar testing of three oxide samples in 2022 reported an average gold recovery of 92.9% over 24 hours.
– This indicates an overall average gold recovery from the five samples of 92.56%
o All assay results are now returned, providing a clear direction for future drilling to connect the west and east mineralised zones. Final results set out in Tables 1-3 below.
o The PoW for this drilling has been recently approved.
o An upcoming site visit is planned to review and discuss the mineralisation models on Northern Zone prepared by the consultants, Xirlatem, as the Project moves towards a maiden MRE.
Naheed Memon, CEO of Oracle, commented:
“Metallurgical testwork using cyanide bottle roll has closely replicated the original 2022 work previously reported, with all results between 90.64% and 94.7% for five samples, resulting in an average 92.56% gold recovery. This is an excellent result and bodes well for future plans to scope out potential starter pits for toll treatment. All the results are back from the recent reverse circulation and aircore drilling programmes, which illustrates the main oxide mineralisation has the potential to link the west and east mineralised zones. The structural and geological modelling being undertaken by Xirlatem, will continue the solid basis for the maiden MRE and will inform future drilling. We will continue to update shareholders as we progress the project.”
Northern Zone Metallurgy Results:
As announced on 13 June 2022, three metallurgical samples were submitted to Nagrom’s metallurgical laboratory in Perth, in order to determine potential gold recoveries of Northern Zone oxide material from the previous Reverse Circulation (“RC”) drilling conducted by the Company in October 2021. This was undertaken by Riversgold Limited (ASX: RGL) (“Riversgold”) as part of its initial due diligence. The results from the three samples showed recoveries of 91.8% and 92%, with a maximum individual recovery of 94.7% for an average recovery of 92.9% after 24 hours.
The most recent cyanide bottle roll results on RC drill hole NZRC008 (Figure 2) was undertaken by Jinnings in Perth and has shown recoveries on a single composite and duplicate sample of 93.67% and 90.64% respectively and averages 92.16%.
The overall average gold recoveries from both the 2022 and 2025 cyanide Bottle Roll tests is 92.56% which bolsters confidence in excellent metallurgy for the Northern Zone project.
Northern Zone Latest Drilling Results
The final assay results have been received for 414 samples from the final 11 vertical aircore (AC) drill holes (Tables 1-3) of the 32 hole 1,805m programme. The drill holes on the north-western side of the tenement appeared to have closed off mineralisation, however, drill holes NZAC144 and NZAC145 have intersected shallow zones of mineralisation that will require follow-up drilling.
The AC and RC programme results (see also Figures 3-4), continue to successfully intersect the mineralised host porphyry over an increasing footprint and consistently validate the broader gold mineralisation model. Further drilling will be undertaken to further the understanding of the project as it advances to a maiden MRE. The current structural analysis by Xirlatem will also assist with future targeting. The priority moving forwards is the connection of the western and eastern zones of mineralisation, over an area which has had limited drill testing. The 2025 drilling results to date have confirmed this strategy, to rapidly increase the oxide potential.
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) 20 3580 4314
