Northern Zone Gold Project Update

Oracle Power

11/04/2025 07:00

RNS Number : 6001E

Oracle Power PLC

11 April 2025

 

11 April 2025

Oracle Power PLC

("Oracle" or the "Company")

Further Assay Results from the Northern Zone Gold Project

1,303 samples from 1,805m drill programme awaiting assay, with results to date continuing to confirm high grade gold intercepts within a lower grade gold halo

Oracle Power PLC (AIM: ORCP), an international project developer, is pleased to announce the assay results from the final four angled reverse circulation (RC) drill holes of an 11 hole, 1,289 metre programme recently completed at the Northern Zone Intrusive Hosted Gold Project ("Northern Zone"), located 25 km east of Kalgoorlie in Western Australia (refer to Figure 1 for location).

 

A further 1,303 samples from a 1,805m vertical drill programme have been submitted to the assay laboratory, with results expected over the coming weeks.

 

Highlights:

o  Significant gold intercepts from angled RC drill holes:

§ 11m @ 1.38 g/t Au from 80m                                                                   (NZRC015)

§ 18m @ 1.94 g/t Au from 49m                                                                   (NZRC016)

•     inc. 3m @ 8.20 g/t Au from 60m

§ 14m @ 0.72 g/t Au from 41m                                                                   (NZRC017)

•     inc. 3m @ 2.60 g/t Au from 52m

§ 12m @ 0.25 g/t Au from 69m                                                                   (NZRC017)

§ 9m @ 0.56 g/t Au from 93m                                                                      (NZRC017)

•     inc. 1m @ 2.14 g/t Au from 101m to EOH

o All RC drillholes from the 11-hole angled programme intersected gold mineralisation (refer to Appendix 1, table 1)

o 1,303 samples are awaiting assay from a further 32 vertical drill hole programme targeting oxide mineralisation

o The results of recent drilling continue to confirm 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 in the coming weeks, which will inform and guide future drill campaigns

 

Naheed Memon, CEO of Oracle, commented:

"The results continue to complement previous drill programmes, and we continue to increase the footprint of the gold mineralisation, revealing good gold tenor within the shallower top of this considerable mineralised porphyry. We have a further 1,303 samples in the lab awaiting assay from 32 drill holes, that will continue the Company's consistent and regular news releases, reporting gold results as we advance the Northern Zone Gold Project towards a maiden MRE."

 

For further information on Oracle, 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 major Kalgoorlie gold projects

Figure 2: Recent RC drill collar plan with gold grade contours from all drilling results to date, and most recent drill intercepts in the north-eastern area of high-grade gold mineralisation. Previously reported RC drill collars are shown in grey.

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. Previously reported RC holes are shown in grey.

 

 

Figure 4: Schematic cross-sections of the final 4 RC drill holes being reported with location map. 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.

 

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
NZRC007
40
55
15
2.1
15m @ 2.1 g/t Au from 40m , NZRC007
NZRC008
37
42
5
4.37
5m @ 4.37 g/t Au from 37m , NZRC008
NZRC009
68
69
1
0.89
1m @ 0.89 g/t Au from 68m , NZRC009
NZRC010
35
50
15
0.75
15m @ 0.75 g/t Au from 35m , NZRC010
NZRC010
107
128
21
0.53
21m @ 0.53 g/t Au from 107m , NZRC010
NZRC011
39
44
5
1.72
5m @ 1.72 g/t Au from 39m , NZRC011
NZRC011
103
107
4
0.6
4m @ 0.6 g/t Au from 103m , NZRC011
NZRC012
35
41
6
6.12
6m @ 6.12 g/t Au from 35m , NZRC012
NZRC012
70
76
6
1.03
13m @0.73 g/t Au from 70m , NZRC012
NZRC012
110
114
4
0.71
4m @ 0.71 g/t Au from 110m , NZRC012
NZRC013
41
48
7
0.66
7m @ 0.66 g/t Au from 41m , NZRC013
NZRC014
56
57
1
2.99
1m @ 2.99 g/t Au from 56m , NZRC014
NZRC015
80
91
11
1.38
11m @ 1.38 g/t Au from 80m , NZRC015
NZRC016
49
67
18
1.94
18m @ 1.94 g/t Au from 49m , NZRC016
including
60
63
3
8.20
Including 3m @ 8.20 g/t Au from 60m
NZRC017
41
55
14
0.72
14m @ 0.72 g/t Au from 41m , NZRC017
including
52
55
3
2.60
Including 3m @ 2.60 g/t Au from 52m
NZRC017
69
81
12
0.25
12m @ 0.25 g/t Au from 69m , NZRC017
NZRC017
93
102
9
0.56
9m @ 0.56 g/t Au from 93m , NZRC017
including
101
102
1
2.14
Including 1m @ 2.14 g/t Au from 101m to EOH


 

Table 2: Northern Zone Drill Collar Locations

Hole id
Type
MGA_E
MGA_N
Elevation (m)
Total Depth (m)
Dip (o)
AZM_MGA
Date
NZRC007
RC
381512
6592636
356.95
120
-60
225
04/03/25
NZRC008
RC
381560
6592644
356.82
121
-60
225
03/03/25
NZRC009
RC
381533
6592656
356.98
100
-60
225
05/03/25
NZRC010
RC
381655
6592674
356.62
180
-60
225
07/03/25
NZRC011
RC
381666
6592632
356.47
120
-60
225
08/03/25
NZRC012
RC
381607
6592572
356.66
120
-60
225
08/03/25
NZRC013
RC
381658
6592580
356.22
120
-60
225
09/03/25
NZRC014
RC
381851
6592623
356.48
102
-60
225
10/03/25
NZRC015
RC
381979
6592682
356.85
102
-60
225
10/03/25
NZRC016
RC
381823
6592922
356.47
102
-60
225
10/03/25
NZRC017
RC
381871
6592949
357.69
102
-60
225
11/03/25

 

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

Hole ID
Depth From
Depth To
Width
Au ppm
NZRC007
39
40
1
1.05
NZRC007
41
42
1
0.49
NZRC007
42
43
1
10.81
NZRC007
44
45
1
12.1
NZRC007
45
46
1
0.6
NZRC007
51
52
1
0.73
NZRC007
52
53
1
3.97
NZRC007
53
54
1
0.79
NZRC007
91
92
1
0.73
NZRC007
118
119
1
0.36
NZRC008
37
38
1
3.5
NZRC008
39
40
1
2.46
NZRC008
40
41
1
15.13
NZRC008
41
42
1
0.5
NZRC008
64
65
1
0.51
NZRC008
75
76
1
0.63
NZRC008
76
77
1
0.94
NZRC008
81
82
1
0.34
NZRC008
90
91
1
0.32
NZRC009
68
69
1
0.89
NZRC010
35
36
1
0.47
NZRC010
36
37
1
0.53
NZRC010
37
38
1
0.47
NZRC010
38
39
1
0.46
NZRC010
40
41
1
0.98
NZRC010
42
43
1
0.33
NZRC010
49
50
1
7.11
NZRC010
103
104
1
0.3
NZRC010
108
109
1
1.26
NZRC010
114
115
1
0.4
NZRC010
115
116
1
0.9
NZRC010
116
117
1
0.41
NZRC010
118
119
1
0.73
NZRC010
120
121
1
0.78
NZRC010
121
122
1
0.84
NZRC010
123
124
1
0.66
NZRC010
125
126
1
0.39
NZRC010
126
127
1
0.33
NZRC010
127
128
1
2.85
NZRC010
150
151
1
0.56
NZRC010
153
154
1
0.67
NZRC010
160
161
1
0.33
NZRC011
39
40
1
1.03
NZRC011
40
41
1
4.14
NZRC011
41
42
1
2.88
NZRC011
43
44
1
0.47
NZRC011
80
81
1
0.32
NZRC011
82
83
1
0.61
NZRC011
83
84
1
0.31
NZRC011
99
100
1
0.34
NZRC011
103
104
1
1.09
NZRC011
106
107
1
0.88
NZRC012
21
22
1
0.62
NZRC012
35
36
1
0.59
NZRC012
36
37
1
32.23
NZRC012
37
38
1
1.01
NZRC012
38
39
1
2.21
NZRC012
40
41
1
0.38
NZRC012
70
71
1
0.77
NZRC012
71
72
1
0.71
NZRC012
72
73
1
1.11
NZRC012
73
74
1
0.9
NZRC012
74
75
1
1.45
NZRC012
75
76
1
1.25
NZRC012
81
82
1
2.19
NZRC012
82
83
1
0.37
NZRC012
106
107
1
0.3
NZRC012
110
111
1
0.64
NZRC012
113
114
1
0.38
NZRC013
41
42
1
0.34
NZRC013
42
43
1
2.09
NZRC013
45
46
1
0.52
NZRC013
46
47
1
0.49
NZRC013
47
48
1
0.96
NZRC013
94
95
1
0.51
NZRC013
95
96
1
0.85
NZRC013
103
104
1
0.31
NZRC013
47
48
1
0.96
NZRC013
94
95
1
0.51
NZRC013
95
96
1
0.85
NZRC013
103
104
1
0.31
NZRC014
56
57
1
2.99
NZRC014
76
77
1
0.67
NZRC015
30
31
1
0.3
NZRC015
32
33
1
0.56
NZRC015
54
55
1
0.45
NZRC015
55
56
1
0.73
NZRC015
58
59
1
0.77
NZRC015
80
81
1
0.95
NZRC015
81
82
1
6.25
NZRC015
82
83
1
0.43
NZRC015
83
84
1
0.33
NZRC015
86
87
1
1.09
NZRC015
87
88
1
2.31
NZRC015
88
89
1
1.3
NZRC015
89
90
1
0.34
NZRC015
90
91
1
1.8
NZRC015
100
101
1
0.37
NZRC016
49
50
1
1.84
NZRC016
50
51
1
4.6
NZRC016
54
55
1
0.62
NZRC016
60
61
1
4.78
NZRC016
61
62
1
16.27
NZRC016
62
63
1
3.56
NZRC016
63
64
1
0.98
NZRC016
64
65
1
0.73
NZRC016
65
66
1
0.72
NZRC016
66
67
1
0.31
NZRC016
71
72
1
0.34
NZRC016
74
75
1
0.34
NZRC017
41
42
1
0.44
NZRC017
42
43
1
0.39
NZRC017
48
49
1
0.81
NZRC017
49
50
1
0.36
NZRC017
52
53
1
6.04
NZRC017
53
54
1
1.06
NZRC017
54
55
1
0.69
NZRC017
58
59
1
0.43
NZRC017
69
70
1
0.72
NZRC017
75
76
1
0.86
NZRC017
80
81
1
0.83
NZRC017
93
94
1
0.99
NZRC017
94
95
1
0.85
NZRC017
97
98
1
0.32
NZRC017
100
101
1
0.33
NZRC017
101
102
1
2.14

 

 

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

 

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 on 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 programme 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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