Oracle Power PLC (AIM: ORCP) has cleared the remaining objections to two haul road licences for the Northern Zone Gold Project in Western Australia, removing what the company describes as the final regulatory obstacle to physically transporting ore from the site.
The licences, L25/75 and L25/77, can now proceed towards formal grant and will provide the legal haulage corridor linking Northern Zone to the main road network and nearby third-party processing facilities.
Oracle said it remains on track to submit the project’s Mine Development and Closure Proposal later this month to Western Australia’s Department of Mines, Petroleum and Exploration.
The MDCP is the final operating approval required before mining can begin.
Chief executive Naheed Memon said the removal of the objections was a key milestone, allowing the company to progress the MDCP while continuing mine planning and scheduling work with funding partner Mega Resources.
Northern Zone is planned as an open-pit gold project around 25km east of Kalgoorlie. The project is 80% owned by Riversgold and 20% by Oracle Power, with development expected to be fully funded by Mega Resources under an existing 50/50 Mining and Co-operation Agreement.
Riversgold secured the project’s 21-year Mining Lease M25/389 in July, while a Native Vegetation Clearing Permit application has also been submitted.
With the haul road objections now resolved, attention turns to submission and approval of the MDCP as the final major step before mining operations can commence.
