Mining Lease Application Update
Oracle Power PLC has announced a significant update regarding its Kalgoorlie Gold Project, specifically the Northern Zone gold project located 25km east of Kalgoorlie. All objections to the company's application for Mining Lease M25/389 have been settled, clearing the path for its recommendation and grant by the Department of Mines, Petroleum and Exploration. This development follows the finalization of native title agreements with the Marlinyu Ghoorlie Native Title Claimant Group at the end of last year. The company anticipates the Mining Lease will be granted in the coming weeks, marking a major milestone for its Kalgoorlie Gold Project plans.
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25km East of Kalgoorlie
Oracle Power PLC (AIM:ORCP), an international project developer, is pleased to announce that all objections to its application for a Mining Lease (M25/389) covering the Northern Zone gold project have been settled and the Company is now working with its lawyers to have the Mining Lease recommended for approval, and granted by Department of Mines, Petroleum and Exploration (DMPE) as soon as possible.
The Northern Zone Intrusive Hosted Gold Project, located within the Company's Kalgoorlie Gold Project just 25 km east of Kalgoorlie in Western Australia (refer to Figure 1 for location).
Naheed Memon, CEO of Oracle, commented:
"We finalised the native title agreements with the Marlinyu Ghoorlie Native Title Claimant Group over the Northern Zone Gold Project at the end of last year, and have now resolved remaining objections that clears the way for the grant of Mining Lease M25/389. We anticipate that the Mining Lease will be granted in the coming weeks, which will prove to be a major milestone for our Kalgoorlie Gold Project plans with MEGA Resources."
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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
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.