Further Assay Results from Northern Zone Project

Oracle Power

23/04/2025 07:00

RNS Number : 7428F

Oracle Power PLC

23 April 2025

 

23 April 2025

Oracle Power PLC

("Oracle" or the "Company")

Further Assay Results from the Northern Zone Project

Highest grade intercept to date of 77.96 g/t Au intersected from the 1,805m drill programme

 

Oracle Power PLC (AIM: ORCP), an international project developer, is pleased to announce further assay results from aircore ("AC") drill holes of a 32 hole 1,805m programme recently completed 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). A further 414 samples from 11 drillholes are still to be assayed, with results expected in the near term.

 

Highlights:

o  Significant gold intercepts from drilling continue:

§ 10m @ 8.89 g/t Au from 46m                                                                              (NZAC127)

§ inc. 1m @ 77.96 g/t Au from 54m

§ 7m @ 3.14 g/t Au from 47m                                                                                 (NZAC124)

§ inc. 1m @ 18.35 g/t Au from 50m

§ 5m @ 1.26 g/t Au from 46m                                                                                 (NZAC132)

§ inc. 2m @ 2.74 g/t Au from 49m

§ 12m @ 0.80 g/t Au from 32m                                                                              (NZAC118)

§ 2m @ 11.97 g/t Au from 34m                                                                              (NZAC123)

§ 1m @ 6.98 g/t Au from 50m                                                                                 (NZAC133)

o  Majority of drillholes have intersected gold mineralisation, refer to Table 1

o  414 samples are awaiting assay from a further 11 vertical drill holes

o  The results of recent drilling continue to validate and enlarge the shallow gold mineralisation associated with the Northern Zone porphyry

o  The dynamic Leapfrog gold model for Northern Zone will be updated with these latest results and will inform and guide future drill campaigns

o  Further follow-up drill planning is already underway

 

Naheed Memon, CEO of Oracle, commented:

"The Northern Zone keeps delivering great results, and everything is going to plan as the mineralised footprint of the Project's high-grade gold zone expands, within the large lower-grade porphyry host. Results continue to meet and exceed expectations, with a new high-grade zone emerging on the eastern margin of the Project. A further 11 drill holes are currently in the lab awaiting assay. We look forward to updating shareholders regarding Northern Zone Project as it progresses towards a maiden MRE and Mining Lease approval."

 

These AC programme results (Tables 1-3), continue to successfully intersect the mineralised host porphyry over an increasing footprint and consistently validate the broader gold mineralisation model. All drill holes on the eastern extension intersected significant gold mineralisation, including the highest gold grades drilled at the project to date (see Figure 2).  Drilling will continue to further the Company's understanding of the Project before proceeding with a Mineral Resource Estimate.

 

For further information on Oracle, please visit the Company's website at http://www.oraclepower.co.uk or contact:

 

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

 

This announcement contains inside information for the purposes of Article 7 of EU Regulation No. 596/2014, which forms part of United Kingdom domestic law by virtue of the European Union (Withdrawal) Act 2018, as amended by virtue of the Market Abuse (Amendment) (EU Exit) Regulations 2019.

 

Competent Person's Statement

The information in this announcement that relates to exploration results, exploration targets, mineral resources or ore reserves is based on information compiled by Mr Edward Mead, who is a Fellow of the Australasian Institute of Mining and Metallurgy. Mr Mead is a director of Riversgold Limited and a consultant to the Company through Doraleda Pty Ltd. Mr Mead has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity that he is undertaking to qualify as a Competent Person as defined in the 2012 edition of the `Australasian Code for Reporting Exploration Results, Mineral Resources and Ore Reserves' (the JORC Code). Mr Mead consents to the inclusion of this information in the form and context in which it appears in this announcement.

Figure 1: Northern Zone Project Map showing proximity to the Kalgoorlie "Super Pit"

 

Figure 2: Recent AC drill collar plan with gold grade contours from all drilling results to date, and most recently reported significant drill intercepts

Figure 3: Cross-section of 3D Leapfrog software model. The interpretation illustrates gold grade shells, derived from all the significant intercepts reported to the ASX to date. The model is constrained via a 25m buffer to all the RGL/Oracle drill hole traces that have been drilled at Northern Zone since 2021. Refer to Figure 2 Drill collar plan for the location of the section line.

 

 

APPENDIX 1: Drilling Information

 

Table 1: Northern Zone Significant Intercepts from all RC drill holes

Hole ID
From (m)
To (m)
Width (m)
Au g/t
Intercept
NZAC118
32
44
12
0.80
12m @ 0.80 g/t Au from 32m , NZAC118
including
32
35
3
2.36
Including 3m @ 2.36 g/t Au from 32m , NZAC118
NZAC119
35
39
4
0.93
4m @ 0.93 g/t Au from 35m , NZAC119
including
38
39
1
1.52
Including 1m @ 1.52 g/t Au from 38m , NZAC119
NZAC120
32
34
2
0.61
2m @ 0.61 g/t Au from 32m , NZAC120
NZAC123
34
36
2
11.97
2m @ 11.97 g/t Au from 34m , NZAC123
NZAC124
47
54
7
3.14
7m @ 3.14 g/t Au from 47m , NZAC124
including
50
51
1
18.35
Including 1m @ 18.35 g/t Au from 50m , NZAC124
NZAC125
47
52
5
0.62
5m @ 0.62 g/t Au from 47m , NZAC125
including
51
52
1
1.77
Including 1m @ 1.77 g/t Au from 51m , NZAC125
NZAC126
48
49
1
1.00
1m @ 1.0 g/t Au from 48m , NZAC126
NZAC126
61
63
2
2.83
2m @ 2.83 g/t Au from 61m , NZAC126
NZAC127
46
56
10
8.89
10m @ 8.89 g/t Au from 46m , NZAC127
including
54
55
1
77.96
Including 1m @ 77.96 g/t Au from 54m , NZAC127
NZAC128
48
52
4
0.93
4m @ 0.93 g/t Au from 48m , NZAC128
including
48
49
1
1.50
1m @ 1.50 g/t Au from 48m , NZAC128
including
51
52
1
2.12
1m @ 2.12 g/t Au from 51m , NZAC128
NZAC129
70
73
3
0.52
3m @ 0.52 g/t Au from 70m (EOH) , NZAC129
NZAC130
50
51
1
3.84
1m @ 3.84 g/t Au from 50m , NZAC130
NZAC131
50
52
2
1.63
2m @ 1.63g/t Au from 50m , NZAC131
NZAC132
32
33
1
1.77
1m @ 1.77 g/t Au from 32m , NZAC132
NZAC132
46
51
5
1.26
5m @ 1.26 g/t Au from 46m , NZAC132
including
49
51
2
2.74
2m @ 2.74 g/t Au from 49m , NZAC132
NZAC133
50
51
1
6.98
1m @ 6.98 g/t Au from 50m , NZAC133
NZAC134
47
50
3
1.65
3m @ 1.65 g/t Au from 47m , NZAC134


 

Table 2: Northern Zone Drill Collar Locations

Hole id
Type
MGA_E
MGA_N
Elevation (m)
Total Depth (m)
Dip (o)
AZM_MGA
Date
NZAC114
AC
381648.4
6592699.2
356.82
51
0
-90
19/03/2025
NZAC115
AC
381661.0
6592711.3
356.72
47
0
-90
19/03/2025
NZAC116
AC
381660.1
6592687.5
356.74
54
0
-90
20/03/2025
NZAC117
AC
381672.1
6592700.2
356.77
51
0
-90
21/03/2025
NZAC118
AC
381598.5
6592674.9
356.84
58
0
-90
21/03/2025
NZAC119
AC
381610.8
6592687.3
356.86
54
0
-90
22/03/2025
NZAC120
AC
381623.6
6592699.3
356.88
53
0
-90
22/03/2025
NZAC121
AC
381636.0
6592712.0
356.9
49
0
-90
22/03/2025
NZAC122
AC
381648.0
6592724.3
356.94
48
0
-90
22/03/2025
NZAC123
AC
381571.0
6592598.0
356.85
48
0
-90
23/03/2025
NZAC124
AC
381895.1
6592566.7
356.84
64
0
-90
23/03/2025
NZAC125
AC
381907.5
6592578.9
356.83
59
0
-90
23/03/2025
NZAC126
AC
381919.6
6592591.2
356.84
64
0
-90
23/03/2025
NZAC127
AC
381932.3
6592603.2
356.8
60
0
-90
24/03/2025
NZAC128
AC
381944.1
6592615.7
356.74
68
0
-90
24/03/2025
NZAC129
AC
381956.7
6592628.4
356.81
71
0
-90
24/03/2025
NZAC130
AC
381969.0
6592641.0
356.79
60
0
-90
25/03/2025
NZAC131
AC
381959.9
6592575.7
356.99
63
0
-90
25/03/2025
NZAC132
AC
381972.0
6592588.0
306.93
65
0
-90
25/03/2025
NZAC133
AC
381984.1
6592601.0
356.94
66
0
-90
25/03/2025
NZAC134
AC
381996.8
6592613.2
357
63
0
-90
27/03/2025
NZAC135
AC
381647.6
6592651.0
356.6
59
0
-90
27/03/2025
NZAC136
AC
381659.9
6592663.4
356.65
60
0
-90
28/03/2025
NZAC137
AC
381672.2
6592675.7
356.66
60
0
-90
28/03/2025
NZAC138
AC
381684.6
6592688.0
356.7
64
0
-90
29/03/2025
NZAC139
AC
381563.2
6592662.1
356.88
49
0
-90
29/03/2025
NZAC140
AC
381575.0
6592673.5
356.9
57
0
-90
29/03/2025
NZAC141
AC
381587.2
6592686.1
356.92
47
0
-90
30/03/2025
NZAC142
AC
381599.5
6592698.4
356.95
48
0
-90
30/03/2025
NZAC143
AC
381612.0
6592710.9
356.97
49
0
-90
31/03/2025
NZAC144
AC
381624.2
6592723.4
357
49
0
-90
30/03/2025
NZAC145
AC
381636.6
6592735.6
356.85
47
0
-90
30/03/2025

 

Table 3: Northern Zone assay results above 0.3 g/t Au

Hole ID
Depth From
Depth To
Width
Au ppm
NZAC116
51
52
1
0.46
NZAC118
32
33
1
1.45
NZAC118
33
34
1
2.47
NZAC118
34
35
1
3.17
NZAC118
35
36
1
0.44
NZAC118
37
38
1
0.52
NZAC118
41
42
1
0.68
NZAC118
43
44
1
0.57
NZAC118
55
56
1
0.31
NZAC119
32
33
1
0.90
NZAC119
35
36
1
0.79
NZAC119
36
37
1
0.76
NZAC119
37
38
1
0.63
NZAC119
38
39
1
1.52
NZAC120
32
33
1
0.47
NZAC120
33
34
1
0.75
NZAC121
29
30
1
0.35
NZAC122
32
33
1
0.38
NZAC122
37
38
1
0.31
NZAC123
34
35
1
21.70
NZAC123
35
36
1
2.23
NZAC124
47
48
1
0.50
NZAC124
49
50
1
1.46
NZAC124
50
51
1
18.35
NZAC124
51
52
1
0.87
NZAC124
53
54
1
0.39
NZAC124
61
62
1
0.38
NZAC124
62
63
1
0.35
NZAC124
63
64
1
0.34
NZAC125
47
48
1
0.54
NZAC125
48
49
1
0.55
NZAC125
51
52
1
1.77
NZAC126
48
49
1
1.00
NZAC126
61
62
1
3.06
NZAC126
62
63
1
2.60
NZAC127
46
47
1
0.68
NZAC127
47
48
1
0.79
NZAC127
49
50
1
7.09
NZAC127
51
52
1
0.86
NZAC127
54
55
1
77.96
NZAC127
55
56
1
1.25
NZAC128
48
49
1
1.50
NZAC128
51
52
1
2.12
NZAC129
68
69
1
0.73
NZAC129
70
71
1
0.57
NZAC130
50
51
1
3.84
NZAC131
47
48
1
0.41
NZAC131
51
52
1
1.36
NZAC131
59
60
1
0.68
NZAC131
62
63
1
0.32
NZAC132
32
33
1
0.36
NZAC132
36
37
1
0.71
NZAC132
46
47
1
0.72
NZAC132
49
50
1
2.66
NZAC132
50
51
1
2.81
NZAC133
42
43
1
0.36
NZAC133
50
51
1
6.98
NZAC134
47
48
1
1.34
NZAC134
48
49
1
0.32
NZAC134
49
50
1
3.28

 

APPENDIX 2: JORC INFORMATION

 

The following Tables are provided to ensure compliance with the JORC Code (2012 Edition) requirements for the reporting of Exploration Results at Northern Zone.

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.
Drilling techniques
Drill type (eg core, reverse circulation, open-hole hammer, rotary air blast, auger, Bangka, sonic, etc) and details (eg core diameter, triple or standard tube, depth of diamond tails, face-sampling bit or other type, whether core is oriented and if so, by what method, etc).
Australian Aircore Drilling completed the program using a blade to refusal.
Drill sample recovery
Method of recording and assessing core and chip sample recoveries and results assessed.
Measures taken to maximise sample recovery and ensure representative nature of the samples.
Whether a relationship exists between sample recovery and grade and whether sample bias may have occurred due to preferential loss/gain of fine/coarse material.
Drill recovery was routinely recorded via estimation of the comparative percentage of the volume of the sample bag by the company geologist.
The sample recovery was deemed excellent for representative assays.
The cyclone was cleaned or checked every 6m.
Logging
Whether core and chip samples have been geologically and geotechnically logged to a level of detail to support appropriate Mineral Resource estimation, mining studies and metallurgical studies.
Whether logging is qualitative or quantitative in nature. Core (or costean, channel, etc) photography.
The total length and percentage of the relevant intersections logged.
All holes have been geologically logged for lithology, mineralisation and weathering. As well as whether dry, damp or wet.
Logging is quantitative for presence of quartz veins. All other logging is qualitative.
A brief description of each drilling sample was recorded and a permanent record has been collected and stored in chip trays for reference.
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) - AuDuplicates, Standards and Blanks were used for external laboratory checks by RGL
Verification of sampling and assaying
The verification of significant intersections by either independent or alternative company personnel.
The use of twinned holes.
Documentation of primary data, data entry procedures, data verification, data storage (physical and electronic) protocols.
Discuss any adjustment to assay data.
Intercepts were reviewed by 2 company personnel.
Location of data points
Accuracy and quality of surveys used to locate drill holes (collar and down-hole surveys), trenches, mine workings and other locations used in Mineral Resource estimation.
Specification of the grid system used.
Quality and adequacy of topographic control.
The collar position of each hole has been marked out with a Garmin Inreach Explorer+ hand held GPS, and will be picked up by Spectrum Surveys (Kalgoorlie) using a DGPS.
Data spacing and distribution
Data spacing for reporting of Exploration Results.
Whether the data spacing and distribution is sufficient to establish the degree of geological and grade continuity appropriate for the Mineral Resource and Ore Reserve estimation procedure(s) and classifications applied.
Whether sample compositing has been applied.
The holes were drilled on a nominal Northeast-Southwest 20m spacing on traverses 15-20m apart.
Orientation of data in relation to geological structure
Whether the orientation of sampling achieves unbiased sampling of possible structures and the extent to which this is known, considering the deposit type.
If the relationship between the drilling orientation and the orientation of key mineralised structures is considered to have introduced a sampling bias, this should be assessed and reported if material.
Based on logging of diamond core the drill holes appear to be orientated perpendicular to strike and dip of the main mineralised structures.
An interpreted fault though the middle of the mineralisation may have caused some displacement.
Sample security
The measures taken to ensure sample security.
Company personnel delivered samples to Jinnings Kalgoorlie where they were submitted for assay.
Audits or reviews
The results of any audits or reviews of sampling techniques and data.
Data reviews will be conducted on completion of further drilling

 

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 Oracle Gold (WA) Pty Ltd.
RGL have farmed into the Tenement and haveexceeded minimum spend of $600,000 in exploration expenditure on the tenement within two years, to achieve 80% ownership. RGL has notified Oracle of meeting the farmin. 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
Geology
Deposit type, geological setting and style of mineralisation.
The deposit sought is (Intrusion Related Gold System (IRGS) style of mineral deposit.
Drill hole Information
A summary of all information material to the understanding of the exploration results including a tabulation of the following information for all Material drill holes:
easting and northing of the drill hole collar
elevation or RL (Reduced Level - elevation above sea level in metres) of the drill hole collar
dip and azimuth of the hole
down hole length and interception depth
hole length.
If the exclusion of this information is justified on the basis that the information is not Material and this exclusion does not detract from the understanding of the report, the Competent Person should clearly explain why this is the case.
Refer to Tables and Figures within the body of the release.
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. We believe the step out RC drilling to be the same as the diamond drilling. The true width of mineralisation is still to be fully ascertained.
Diagrams
Appropriate maps and sections (with scales) and tabulations of intercepts should be included for any significant discovery being reported These should include, but not be limited to a plan view of drill hole collar locations and appropriate sectional views.
See body of the announcement for relevant diagrams and photos.
Balanced reporting
Where comprehensive reporting of all Exploration Results is not practicable, representative reporting of both low and high grades and/or widths should be practiced to avoid misleading reporting of Exploration Results.
The reporting of exploration results is considered balanced by the competent person.
Other substantive exploration data
Other exploration data, if meaningful and material, should be reported including (but not limited to): geological observations; geophysical survey results; geochemical survey results; bulk samples - size and method of treatment; metallurgical test results; bulk density, groundwater, geotechnical and rock characteristics; potential deleterious or contaminating substances.
See body of the announcement.
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

 

 

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