Northern Zone: Gold Samples Submitted for Assay
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Gold Samples Submitted for Assay
Oracle Power PLC (AIM:ORCP), an international project developer, is pleased to announce that the latest round of drilling at the Northern Zone Intrusive Hosted Gold Project in Western Australia (the "Northern Zone Project") has now been completed. Further to the announcement of 30 October 2024, the aircore (AC) drill campaign comprised of 26 drill holes in which 1,545 metres were completed, and the samples have now been submitted to the laboratory for gold assay.
Highlights:
o 26 AC holes completed for 1,545 metres, and the samples have been submitted to the laboratory for gold assay.
o The programme was designed to follow up the previous drill programme results that include[1]:
§ 7m @ 3.90 g/t Au from 35m (NZAC055)
§ 4m @ 3.97 g/t Au from 32m (NZAC061)
§ 4m @ 6.92 g/t Au from 57m (NZAC061)
§ 5m @ 12.27 g/t Au from 32m (NZAC062) (inc. 1m @ 58.09 g/t Au from 34m)
§ 11m @ 1.44 g/t Au from 29m (NZAC064)
§ 29m @ 1.29 g/t Au from 54m (NZAC065)
§ 5m @ 2.07 g/t Au from 46m (NZAC068)
§ 6m @ 3.48 g/t Au from 73m (NZAC077)
§ 8m @ 2.07 g/t Au from 50m (NZAC079)
o Gold assay results are expected to be received in the next four weeks and further drill programmes will be considered once received.
o A mineralisation report is underway and when completed an application for a Mining Lease is to be made.
Naheed Memon, CEO of Oracle, commented: "Swift progress continues at the Northern Zone Project, and we look forward to the next round of gold assay results, as well as the completion of the mineralisation report and application for a mining licence, enabling us to advance the project quickly. The more recent set of high-grade gold assays at the Northern Zone Project have continued to expand the gold mineralised footprint of the porphyry over a much larger area than originally anticipated and it has confirmed the presence of a significant gold mineralised system that is located just 25km east of Kalgoorlie, Western Australia."
[1] Riversgold Limited (RGL) ASX announcement 18 September 2024 "Gold Porphyry Intercepts Continue to be Drilled by RGL"
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