Oracle Power PLC (AIM:ORCP), an international project developer, is pleased to announce that drilling is planned to re-commence in March 2025 at the Northern Zone Intrusive Hosted Gold Project (“Northern Zone”), located just 25km east of Kalgoorlie, Western Australia.
· Next phase of drilling at Northern Zone aims to target and extend previous identified higher grade gold intercepts via a series of SW-NE orientated extensional lines using a nominal 20m spacing.
· A drilling contractor has been booked and will be mobilising to site in March 2025.
· Northern Zone features a 600m wide porphyry system and previously announced significant results to date include:
o 8m @ 4.86 g/t Au from 34m (NZAC090)
o 7m @ 4.07 g/t Au from 48m (NZAC0107)
o 4m @ 7.47 g/t Au from 49m (NZAC113)
o 5m @ 12.27 g/t Au from 32m (NZAC062)
o 16m @4.69 g/t Au from 30m (NZAC033)
o 110m @ 0.6 g/t Au from 208m (RSDD02) – diamond drill hole
o 154m @ 0.58 g/t Au from 98m (21OPRC004) – RC drill hole
o 330m @ 0.49 g/t Au from 30m incl 54.79 @ 1.15 g/t Au from 213m (BNRC066) – RC drill hole
· The next drill programme has been planned to follow up on these highly positive results.
Naheed Memon, CEO of Oracle, commented:
“The Northern Zone continues to deliver significant gold intercepts, and I am very pleased that we will be launching our 2025 drilling campaign in the coming weeks. The mining lease submission to convert the project to a mining licence signifies our commitment and belief in this project. The significant high-grade gold assays at Northern Zone from 2024 drilling have continued to expand the gold mineralised footprint of the porphyry over a larger area and confirms the presence of a significant gold system. The Australian dollar gold price has passed $4,500/ounce, which bodes well for this exciting project.”
**ENDS**
For further information on Oracle Power Plc, visit the Company‘s website http://www.oraclepower.co.uk or contact:
|
Oracle Power PLC Naheed Memon – CEO |
+44 (0) 203 580 4314 |
