Key Permit Application Submitted for Northern Zone
Oracle Power PLC has submitted a Native Vegetation Clearing Permit application to the Department of Water and Environmental Regulation for its Northern Zone Gold Project located east of Kalgoorlie, Western Australia. This submission is a crucial step towards enabling future mining operations, with the Mine Development and Closure Proposal expected to be submitted in early September. The company is working closely with funding partners on mine planning and scheduling, aiming to monetize the project amidst strong gold prices.
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Oracle Power PLC (AIM: ORCP), an international project developer, is pleased to announce that a Native Vegetation Clearing Permit (NVCP) has now been submitted to the Department of Water and Environmental Regulation for the Northern Zone Intrusive Hosted Gold Project (“Northern Zone Gold Project”), located 25 km east of Kalgoorlie in Western Australia (refer to Figure 1 for location).
Highlights
NVCP application has been submitted to Government
Approval of the NVCP will allow land clearing as part of future mining operations
Mine Development and Closure Proposal (MDCP) remains on track to be submitted in September
In Western Australia, any Company or person wishing to clear native vegetation (unless an exemption applies) needs authorisation under Part V of the Western Australian Environmental Protection Act 1986. The permit is issued by the Department of Water and Environmental Regulation (DWER). Only once approved can the Company actually clear the land, so submitting the permit application is an important milestone.
The NVCP permitting process has been running alongside the preparation of the MDCP— the actual operating approval needed to start mining. The MDCP is still on schedule for submission to WA's Department of Mines, Petroleum and Exploration (DMPE), in early September.
Naheed Memon, CEO of Oracle, commented:
"The completion and submission of the NVCP to the Department of Water and Environmental Regulation (DWER), puts us another step closer to the Company monetising our key Northern Zone Gold Project near Kalgoorlie. The gold price continues to remain strong, and this is a great time to be on the path to production. We remain firmly on track to submit our MDCP to the DMPE in early September, and we are working very closely with our funding partners, MEGA Resources, on finalising mine planning and scheduling."
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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
Figure 1: Location of Northern Zone Gold Project showing proximity to the Kalgoorlie "Super Pit", Golden Mile/Fimiston.
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.