Gold Results Expand the Footprint at Northern Zone
Oracle Power PLC has announced positive assay results from its Northern Zone Gold Project in Western Australia, with the first six drillholes of a 21-hole program confirming an expanding gold mineralisation footprint. Significant intercepts include 9m at 1.33 g/t Au and 3m at 4.39 g/t Au, with further results from 15 pending holes and an ongoing 40-hole program expected in the coming weeks. These findings are progressing the company towards a maiden Mineral Resource Estimate and supporting mine planning for a potential start in the first half of 2026.
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Oracle Power PLC (AIM: ORCP), an international project developer, is pleased to announce assay results from the first six drillholes of the recently completed vertical Grade Control ("GC") drilling programme 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).
Assay results from a further 15 drillholes are still to be assayed, with results expected in the near term. In addition, drilling is progressing on a new ~40-hole drilling programme, with 12 holes completed to date.
Highlights
- The Company continues to expand the gold mineralisation footprint at the Northern Zone.
- Assay results from the first six holes of a 21-hole programme have been received.
- Significant results from the first batch of results from pre-Christmas drilling include:
o 9m @ 1.33 g/t Au from 56m, (NZAC146)
o 3m @ 4.39 g/t Au from 45m, (NZAC149)
o 3m @ 1.89 g/t Au from 48m, (NZAC150)
o 5m @ 1.75 g/t Au from 61m (EOH), (NZAC150)
o 4m @ 0.83 g/t Au from 47m, (NZAC151)
- Targeted drilling continues, with the current campaign 12 holes into a further 40-hole programme with results to be reported in the next six to eight weeks.
Naheed Memon, CEO of Oracle, commented:
"As highlighted before, we planned to undertake two drill programmes before the end of the year to add to our gold footprint in the top 50-60 metres at our Northern Zone gold project, and to enhance the MEGA Resources mining operations scenario for 2026. The results from this first batch of assay results continue to expand the lateral footprint of the Northern Zone and we continue to achieve the goal of making the project bigger in the oxide zone.
"Everything is going to plan as we expand the mineralised footprint of the Project and define the high-grade gold zone hosted within a large lower-grade porphyry host. The reported results continue to meet and exceed expectations, with the new high-grade zone being delineated on the eastern margin of the Project, now looking to move northwards.
"The second shallow drill programme is well underway with more samples now in for assay, and we expect to report these assay results over the next six to eight weeks."
Results from the GC programme (Tables 1-3) continue to successfully intersect the mineralised host porphyry over an expanding footprint, consistently supporting the broader gold mineralisation model. Five drillholes on the eastern extension intersected significant gold mineralisation (see Figure 2), with the footprint expanding northwards. A key SW-NE cross-section derived from 3D Leapfrog software is illustrated in Figure 3. The interpretation illustrates gold grade shells, derived from all the significant intercepts announced by the Company to April 2025. The Leapfrog model will be updated once all pending assays are received.
The Northern Zone JV will continue advancing its understanding of the Kalgoorlie Project before proceeding with a maiden Mineral Resource Estimate (MRE), but this drilling will be used by Mega Resources in their mine planning for our joint plans to start mining in the first half of 2026.
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Oracle Power PLC
Naheed Memon - CEO +44 (0) 203 580 4314
Strand Hanson Limited (Nominated Adviser & Broker)
Rory Murphy, Matthew Chandler, Rob Patrick +44 (0) 20 7409 3494
St Brides Partners Limited (Financial PR)
Susie Geliher, Isabel de Salis +44 (0) 20 7236 1177
| Hole ID | From (m) | To (m) | Width (m) | Au g/t | Intercept | ||
|---|---|---|---|---|---|---|---|
| NZAC146 | 56 | 65 | 9 | 1.33 | 9m @ 1.33 g/t Au from 56m, NZAC146 | ||
| NZAC149 | 45 | 48 | 3 | 4.39 | 3m @ 4.39 g/t Au from 45m, NZAC149 | ||
| including | 47 | 48 | 1 | 11.78 | Including 1m @ 11.78 g/t Au from 47m, NZAC149 | ||
| NZAC150 | 48 | 51 | 3 | 1.89 | 3m @ 1.89 g/t Au from 48m, NZAC150 | ||
| NZAC150 | 61 | 66 | 5 | 1.75 | 5m @ 1.75 g/t Au from 61m (EOH), NZAC150 | ||
| including | 64 | 66 | 2 | 3.49 | Including 2m @ 3.49 g/t Au from 64m (EOH), NZAC150 | ||
| NZAC151 | 47 | 51 | 4 | 0.83 | 4m @ 0.83 g/t Au from 47m, NZAC151 | ||
| Table 2: Northern Zone Drill Collar Locations | |||||||
| Hole id | MGA_E | MGA_N | Elevation (m) | Total Depth (m) | Dip ( o ) | AZM_MGA | Date |
| NZAC146 | 381899.8 | 6592682.5 | 356.7 | 66 | 0 | -90 | 20/10/25 |
| NZAC147 | 381912.2 | 6592694.9 | 356.8 | 63 | 0 | -90 | 21/10/25 |
| NZAC148 | 381919.8 | 6592682.5 | 356.7 | 66 | 0 | -90 | 22/10/25 |
| NZAC149 | 381932.2 | 6592 694.9 | 356.8 | 60 | 0 | -90 | 22/10/25 |
| NZAC150 | 381939.8 | 6592682.5 | 356.8 | 66 | 0 | -90 | 23/10/25 |
| NZAC151 | 381952.2 | 6592694.9 | 356.7 | 66 | 0 | -90 | 23/10/25 |
Table 3: Northern Zone assay results above 0.3 g/t Au from all GC drillholes
| Hole ID | Depth From | Depth To | Width | Au ppm |
|---|---|---|---|---|
| NZAC146 | 56 | 57 | 1 | 3.46 |
| NZAC146 | 57 | 58 | 1 | 1.71 |
| NZAC146 | 58 | 59 | 1 | 1.50 |
| NZAC146 | 59 | 60 | 1 | 1.39 |
| NZAC146 | 60 | 61 | 1 | 0.76 |
| NZAC146 | 62 | 63 | 1 | 1.01 |
| NZAC146 | 63 | 64 | 1 | 1.28 |
| NZAC146 | 64 | 65 | 1 | 0.65 |
| NZAC148 | 47 | 48 | 1 | 0.44 |
| NZAC148 | 60 | 61 | 1 | 0.43 |
| NZAC149 | 42 | 43 | 1 | 0.98 |
| NZAC149 | 45 | 46 | 1 | 1.35 |
| NZAC149 | 47 | 48 | 1 | 11.78 |
| NZAC150 | 48 | 49 | 1 | 2.04 |
| NZAC150 | 49 | 50 | 1 | 3.33 |
| NZAC150 | 50 | 51 | 1 | 0.30 |
| NZAC150 | 61 | 62 | 1 | 0.50 |
| NZAC150 | 62 | 63 | 1 | 0.66 |
| NZAC150 | 63 | 64 | 1 | 0.59 |
| NZAC150 | 64 | 65 | 1 | 4.26 |
| NZAC150 | 65 | 66 | 1 | 2.72 |
| NZAC151 | 47 | 48 | 1 | 2.01 |
| NZAC151 | 48 | 49 | 1 | 0.52 |
| NZAC151 | 50 | 51 | 1 | 0.59 |
| JORC INFORMATION | ||||
| Section 1: Sampling Techniques and Data | ||||
| (Criteria in this section applies to all succeeding sections) | ||||
| Criteria | JORC Code explanation | Commentary | ||
| Sampling techniques | Nature and quality of sampling (eg cut channels, random chips, or specific specialised industry standard measurement tools appropriate to the minerals under investigation, such as down hole gamma sondes, or handheld XRF instruments, etc). These examples should not be taken as limiting the broad meaning of sampling. Include reference to measures taken to ensure sample representivity and the appropriate calibration of any measurement tools or systems used. Aspects of the determination of mineralisation that are Material to the Public Report. In cases where 'industry standard' work has been done this would be relatively simple (eg 'reverse circulation drilling was used to obtain 1 m samples from which 3 kg was pulverised to produce a 30 g charge for fire assay'). In other cases, more explanation may be required, such as where there is coarse gold that has inherent sampling problems. Unusual commodities or mineralisation types (eg submarine nodules) may warrant disclosure of detailed information. | Every metre drilled was placed on the ground. 6m composites were collected using a scoop method of sampling the coarse reject sample for the first 24m. 1m sampling using a rifle splitter was trialed on the clays, from 24m, with sampling deemed to create a high degree risk of smearing. The clays are not wet, but have a damp characteristic. A large metal scoop was used to sample between 70-90% of material from each metre drilled, to total between 2-3kg samples. Standard reference material, sample duplicates and blanks, were undertaken at 25m sample intervals. Samples were sent to the laboratory for crushing, splitting and analysis. Analysis was undertaken by Jinnings laboratories (Kalgoorlie) for gold assay by 50g fire assay. | ||
| Sub-sampling techniques and sample preparation | If core, whether cut or sawn and whether quarter, half or all core taken. If non-core, whether riffled, tube sampled, rotary split, etc and whether sampled wet or dry. For all sample types, the nature, quality and appropriateness of the sample preparation technique. Quality control procedures adopted for all sub-sampling stages to maximise representivity of samples. Measures taken to ensure that the sampling is representative of the in-situ material collected, including for instance results for field duplicate/second-half sampling. Whether sample sizes are appropriate to the grain size of the material being sampled. | 1m sampling using a rifle splitter was trialed on the clays, from 24m, with sampling deemed to create a high degree risk of smearing. The clays are not wet, but have a damp characteristic. A large metal scoop was used to sample between 70-90% of material from each metre drilled, to total between 2-3kg samples. Standard reference material, sample duplicates and blanks, were undertaken at 25m sample intervals. Samples were sent to the laboratory for crushing, splitting and analysis. The use of fire assay with 50g charge for all AC drilling provides a level of confidence in the assay database. The sampling and assaying are considered representative of the in-situ material. The sample size of 2-3 kilograms is appropriate and representative of the grain size and mineralisation style of the deposit. | ||
| Quality of assay data and laboratory tests | The nature, quality and appropriateness of the assaying and laboratory procedures used and whether the technique is considered partial or total. For geophysical tools, spectrometers, handheld XRF instruments, etc, the parameters used in determining the analysis including instrument make and model, reading times, calibrations factors applied and their derivation, etc. Nature of quality control procedures adopted (eg standards, blanks, duplicates, external laboratory checks) and whether acceptable levels of accuracy (ie lack of bias) and precision have been established. | Jinnings (Kalgoorlie) were used for all analysis of drill samples submitted by Riversgold. The laboratory techniques below are for all samples submitted to Jinnings and are considered appropriate for the style of mineralisation defined within the Northern Zone Project area: Samples above 3Kg were riffle split. Pulverise to 95% passing 75 microns 50-gram Fire Assay (FA50A) - Au Duplicates, Standards and Blanks were used for external laboratory checks by RGL | ||
Section 2: Reporting of Exploration Results
(Criteria listed in the preceding section also apply to this section)
| Criteria | JORC Code explanation | Commentary |
| Mineral tenement and land tenure status | Type, reference name/number, location and ownership including agreements or material issues with third parties such as joint ventures, partnerships, overriding royalties, native title interests, historical sites, wilderness or national park and environmental settings. The security of the tenure held at the time of reporting along with any known impediments to obtaining a licence to operate in the area. | The Northern Zone Project is comprised of one granted prospecting licence (P25/2651) which covers an area of 82 hectares, and is held in the name of Riversgold (Australia) Pty Ltd 80/100, Oracle Gold (WA) Pty Ltd 20/100. The JV documents are to be formalised by December 2025. Oracle will be required to contribute pro-rata or dilute. |
| Exploration done by other parties | Acknowledgment and appraisal of exploration by other parties. | The majority of previous exploration in the area was by Northern Mining during 2007 to 2012 under the Blair North project, multiple small resource areas were identified at the George's Reward area to the south of P25/2651. Numerous gold intersections were recorded. |
| Data aggregation methods | In reporting Exploration Results, weighting averaging techniques, maximum and/or minimum grade truncations (eg cutting of high grades) and cut-off grades are usually Material and should be stated. Where aggregate intercepts incorporate short lengths of high-grade results and longer lengths of low-grade results, the procedure used for such aggregation should be stated and some typical examples of such aggregations should be shown in detail. The assumptions used for any reporting of metal equivalent values should be clearly stated. | Intersections are weighted average grades based on a 0.001 g/t Au cut-off with unlimited waste zones but with a targeted grade of 0.4-0.6g/t Au. |
| Relationship between mineralisation widths and intercept lengths | These relationships are particularly important in the reporting of Exploration Results. If the geometry of the mineralisation with respect to the drill hole angle is known, its nature should be reported. If it is not known and only the down hole lengths are reported, there should be a clear statement to this effect (eg 'down hole length, true width not known'). | The diamond drilling program in 2023 confirmed the apparent widths of mineralisation as being perpendicular to foliation and veining. Step out RC drilling to be the same as the diamond drilling. Mineralisation has been determined from structural logging to be horizontal and vertical drilling is therefore true width drilling. |
| Further work | The nature and scale of planned further work (eg tests for lateral extensions or depth extensions or large-scale step-out drilling). Diagrams clearly highlighting the areas of possible extensions, including the main geological interpretations and future drilling areas, provided this information is not commercially sensitive. | · Follow up phases of drilling to further test strike to be undertaken. · Complete a maiden MRE |
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.