Progress towards Mining at Northern Zone

In brief · summary, not quotable

Oracle Power PLC has provided an update on progress towards mining at the Northern Zone of its Kalgoorlie Gold Project, with applications for the Native Vegetation Clearing Permit and Mine Development and Closure Proposal due for submission this month. Key reports, including fauna, flora, heritage, and hydrogeology, are nearing completion, with laboratory test results for geotech, geology, and soil also received and under analysis. This advancement brings the company closer to commencing mining operations at the Northern Zone.

Full announcement

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Oracle Power PLC (AIM:ORCP), an international project developer, is pleased to provide an update on progress of the Native Vegetation Clearing Permit (NVCP) and the Mine Development and Closure Proposal (MDCP), covering the Northern Zone Gold Project (M25/389), part of the Company's Kalgoorlie Gold Project, which is located 25 km east of Kalgoorlie in Western Australia (see Figure 1).

Highlights

Site clearance permit and Native Vegetation Clearing Permit (NVCP) applications due for submission this month

o Fauna Report: preparation of final report.

o Flora Report: preparation of final integrated flora/vegetation report.

Mine Development and Closure Proposal (MDCP) progressing

o Heritage Report: work area clearance survey completed, with preparation of final report.

o Hydrogeology Report: Nearing completion. Pending flood model to determine the topographic boundary for placing the topsoil.

o Geotech, Geology and Soil: Laboratory test results received and analysis/report in progress

Naheed Memon, CEO of Oracle, commented:

"The team has been working in parallel to the recent granting of M25/389 to progress all the inputs required for the submission of the NVCP and MDCP, which will then provide the operating permit for the start of mining operations This work has been progressing well. A significant number of the major inputs for the submission of the NVCP have now been completed, with final deliverables (reports) nearing completion for submission. The MDCP submission will follow as we finalise inputs. We continue to get much closer to turning dirt at Northern Zone and I look forward to updating shareholders on progress as we move forward."

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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.