Oracle Power PLC (AIM: ORCP) has completed a 31-hole shallow drilling programme at the Northern Zone of its Kalgoorlie Gold Project, covering a total of 2,013 metres. A total of 1,475 samples have been submitted for laboratory analysis, with assay results expected in the near term.
Alongside exploration, the company is advancing its Mine Development and Closure Plan. Current activities include geotechnical drilling, completion of a water bore and ongoing environmental assessments, being carried out in coordination with Resources-WA and production partner MEGA Resources.
Progress toward converting the tenement into a Mining Lease is also nearing completion, marking a key regulatory step.
Oracle signed a Right to Mine and Co-Operation Agreement with MEGA Resources in September 2025. Under the terms of the deal, MEGA will fund development in return for a 50/50 profit share. Subject to final approvals and ongoing workstreams, mining is expected to begin later this year.
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.”
