Positive Results: Kalgoorlie Drilling Programme

Oracle Power

19/01/2026 07:00

RNS Number : 3330P

Oracle Power PLC

19 January 2026

 

19 January 2026

Oracle Power PLC

 ("Oracle" or the "Company")

 

Further Positive Results from Kalgoorlie Drilling Programme

 

Oracle Power PLC (AIM:ORCP), an international project developer, is pleased to announce assay results from a further 21 drillholes at the Northern Zone Intrusive Hosted Gold Project, located within the Company's Kalgoorlie Gold Project (refer to Figure 1 for location). The values from selected drill holes are given in Tables 1-3 and in Figure 2.  Results from a further 16 drillholes are anticipated to be received shortly.

 

Highlights

 

·    The drilling programme has continued to intersect shallow gold mineralisation as drilling expands the gold footprint at the Northern Zone Gold Project.

·    First assay results now arriving for 2026, with significant results, including:

·    8m @ 5.81 g/t Au from 46m         (NZAC179)

·    7m @ 3.48 g/t Au from 48m         (NZAC181)

·    5m @ 3.13 g/t Au from 41m         (NZAC170)

·    4m @ 2.28 g/t Au from 43m         (NZAC182)

·    Further significant results shown in tables below

·    Drilling results from a further 16 drillholes due to be received in two batches over the coming weeks.

·    Drill rig booked for 10 February aiming to continue expanding the oxide gold mineralisation footprint.

·    Conversion to Mining Lease process continues with the Heritage Agreement a major step forward.[1]

·    The Mine Development and Closure Plan (MDCP) and the associated environmental assessments have commenced with Resource WA.

 

Naheed Memon, CEO of Oracle, commented:

"It is great to follow on from previous announcements and continue to expand and intersect gold grades in the northeast area and expand the saddle area. We believe these results are very impressive and add significant upside to the project for our plans with our partners for gold production targeted for later this year.  Our modelling suggests that this could constitute part of a ~600m wide zone of shallow oxide mineralisation overlying the Northern Zone porphyry system.

 

"Oracle also notes from Riversgold's news release on the ASX today that MEGA Resources has become a shareholder of Riversgold, and we see this as highly promising for the JV partnership going forward.

 

"We are still awaiting results from 16 drillholes, expected in the coming weeks, and we are looking forward to the assays that will be from the northeast and saddle areas.

 

"The two recently completed drill programmes were designed to add to our gold footprint in the top 50-60m at our Kalgoorlie Gold Project, and to enhance the MEGA Resources mining scenario for 2026[2]. Results continue to expand the lateral footprint of Northern Zone and we are achieving the goal of making the project bigger in the oxide zone. I look forward to updating shareholders as we progress the project."

 

The latest drill 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. Gold mineralisation has been successfully intersected in the northeast area, with a section of drill holes to the north of an existing single line, expanding the gold mineralisation footprint (Figure 2). More drill results from the saddle area between the west and east zones is filling in nicely, with a further 12 holes due shortly. A key SW-NE cross-section derived from 3D Leapfrog software is illustrated in Figure 3. The interpretation illustrates gold grade shells derived from all the significant intercepts reported by Riversgold to April 2025. The Leapfrog model will be updated once all pending assays are received.

 

Northern Zone is hosted within a porphyry unit (Tonalite- Trondhjemite Intrusion, TTI), with high background gold and horizontal gold mineralised units within the TTI unit. The Northern Zone Project sits within the Canon Shear or fault zone, with further drilling required to define the limits of mineralisation identified to date. The horizontal mineralisation makes drilling to date perpendicular to the gold mineralisation, and no water in drilling to a depth of 60 metres makes the TTI also suitable for drilling with the techniques the Company has utilised to date.

 

Riversgold will continue advancing its understanding of the Kalgoorlie Project before proceeding with a maiden Mineral Resource Estimate (MRE), but this drilling will be used by Mega Resources in their mine planning for our joint plans to start mining in the first half of 2026.

 

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, Will Turner                                                                             +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: Location of Northern Zone Gold Project in relation to the Kalgoorlie Golden Mile/Fimiston "Super Pit".

Figure 2: Drill collar plan and reported significant drill intercepts. Gold grade contours from all drilling results up to April 2025. Contours will be updated when all pending assays are received.

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 April 2025. The Leapfrog model will be updated once all pending assays are received. 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 grade control drill rig drillholes with previously reported results in grey.

Hole ID
From (m)
To (m)
Width (m)
Au g/t
Intercept
NZAC146
56
65
9
1.33
9m @ 1.33 g/t Au from 56m , NZAC146
NZAC149
45
48
3
4.39
3m @ 4.39 g/t Au from 45m , NZAC149
including
47
48
1
0.93
Including 1m @ 11.78 g/t Au from 47m , NZAC149
NZAC150
48
51
3
1.89
3m @ 1.89 g/t Au from 48m , NZAC150
NZAC150
61
66
5
1.75
5m @ 1.75 g/t Au from 61m (EOH) , NZAC150
including
64
66
2
3.49
Including 2m @ 3.49 g/t Au from 64m (EOH) , NZAC150
NZAC151
47
51
4
0.83
4m @ 0.83 g/t Au from 47m , NZAC151
NZAC152
47
52
5
3.09
5m @ 3.09 g/t Au from 47m, NZAC152
NZAC152
66
72
6
0.72
6m @ 0.72 g/t Au from 66m (EOH), NZAC152
NZAC153
32
38
6
0.65
6m @ 0.65 g/t Au from 32m, NZAC153
NZAC153
46
47
1
11
1m @ 11.0 g/t Au from 46m, NZAC153
NZAC153
54
56
2
0.74
2m @ 0.74 g/t Au from 54m, NZAC153
NZAC154
62
70
8
0.62
8m @ 0.62 g/t Au from 32m, NZAC154
NZAC154
45
46
1
1.1
1m @ 1.10 g/t Au from 45m, NZAC154
NZAC155
49
51
2
1.47
2m @ 1.47 g/t Au from 49m, NZAC155
NZAC156
42
49
7
1.58
7m @ 1.58 g/t Au from 42m, NZAC156
NZAC157
33
36
3
0.7
3m @ 0.70 g/t Au from 33m, NZAC157
NZAC157
44
46
2
1.32
2m @ 1.32 g/t Au from 44m, NZAC157
NZAC158
38
40
2
0.98
2m @ 0.98 g/t Au from 38m, NZAC158
NZAC159
39
40
1
1.01
1m @ 1.01 g/t Au from 39m, NZAC159
NZAC159
61
62
1
1.26
1m @ 1.26 g/t Au from 61m, NZAC159 (EOH)
NZAC160
39
45
6
1.61
6m @ 1.61 g/t Au from 39m, NZAC160
NZAC160
60
61
1
1.83
1m @ 1.83 g/t Au from 60m, NZAC160 (EOH)
NZAC161
34
35
1
0.99
1m @ 0.99g/t Au from 34m, NZAC161
NZAC162-167 No significant Intercept
NZAC168
44
45
1
2.10
1m @ 2.10 g/t Au from 44m, NZAC168
NZAC170
41
46
5
3.13
5m @ 3.13 g/t Au from 41m, NZAC170
NZAC170
77
78
1
2.94
1m @ 2.94 g/t Au from 77m, NZAC170
NZAC170
94
95
1
1.96
1m @ 1.96 g/t Au from 94m, NZAC170
NZAC171
50
53
3
1.31
3m @ 1.31 g/t Au from 50m, NZAC171
NZAC172
36
38
2
0.97
2m @ 0.97 g/t Au from 36m, NZAC172
NZAC172
42
43
1
2.10
1m @ 2.10 g/t Au from 42m, NZAC172
NZAC172
61
63
2
1.79
2m @ 1.79 g/t Au from 61m, NZAC172
NZAC179
46
54
8
5.81
8m @ 5.81 g/t Au from 46m, NZAC179
NZAC180
No significant Intercept
NZAC181
48
55
7
3.48
7m @ 3.48 g/t Au from 48m, NZAC181
NZAC182
43
47
4
2.28
4m @ 2.28 g/t Au from 43m, NZAC182
NZAC183
No significant Intercept
NZAC184
No significant Intercept


 

 

Table 2: Northern Zone Drill Collar Locations with previously reported results in grey.

Hole ID
Type
MGA_E
MGA_N
Elevation (m)
Total Depth (m)
Dip ()
AZM_MGA
Date
NZAC146
GC
381899.8
6592682.5
356.7
66
0
-90
20/10/25
NZAC147
GC
381912.2
6592694.9
356.8
63
0
-90
21/10/25
NZAC148
GC
381919.8
6592682.5
356.7
66
0
-90
22/10/25
NZAC149
GC
381932.2
6592 694.9
356.8
60
0
-90
22/10/25
NZAC150
GC
381939.8
6592682.5
356.8
66
0
-90
23/10/25
NZAC151
GC
381952.2
6592694.9
356.7
66
0
-90
23/10/25
NZAC152
GC
381959.8
6592682.5
356.7
72
0
-90
24/10/2025
NZAC153
GC
381702.7
6592645.4
356.4
66
0
-90
25/10/2025
NZAC154
GC
381690.3
6592633
356.4
64
0
-90
25/10/2025
NZAC155
GC
381698
6592620.6
356.3
60
0
-90
25/10/2025
NZAC156
GC
381705.6
6592608.2
356.2
63
0
-90
26/10/2025
NZAC157
GC
381681
6592608.2
356.3
62
0
-90
26/10/2025
NZAC158
GC
381673.2
6592595.9
356.3
61
0
-90
27/10/2025
NZAC159
GC
381680.8
6592583.5
356.2
62
0
-90
28/10/2025
NZAC160
GC
381695
6592592
356.2
61
0
-90
29/10/2025
NZAC161
GC
381643.7
6592546.4
356.2
65
0
-90
30/10/2025
NZAC162
GC
381651.3
6592534
356.2
69
0
-90
30/10/2025
NZAC163
GC
381663.7
6592546.4
356.1
68
0
-90
31/10/2025
NZAC164
GC
381671.3
6592534
356.1
63
0
-90
31/10/2025
NZAC165
GC
381676.1
6592558.7
356.1
66
0
-90
1/11/2025
NZAC166
GC
381668.5
6592569
356.1
62
0
-90
1/11/2025
NZAC167
AC
381782.8
6592917.7
357.2
38
0
-90
17/11/2025
NZAC168
AC
381795.1
6592929.9
356.8
63
0
-90
17/11/2025
NZAC169
AC
381807.6
6592942.4
356.5
75
0
-90
18/11/2025
NZAC170
AC
381858.8
6592965.4
356.5
99
0
-90
18/11/2025
NZAC171
AC
381846.5
6592953
356.5
72
0
-90
18/11/2025
NZAC172
AC
381834.3
6592940.9
356.6
88
0
-90
19/11/2025
NZAC179
AC
381712
6592632
356.3
62
0
-90
24/11/2025
NZAC180
AC
381720
6592658
356.5
60
0
-90
24/11/2025
NZAC181
AC
381725
6592646
356.4
62
0
-90
25/11/2025
NZAC182
AC
381739
6592658
356.5
69
0
-90
25/11/2025
NZAC183
AC
381752
6592675
356.6
71
0
-90
26/11/2025
NZAC184
AC
381733
6592673
356.5
65
0
-90
26/11/2025

 

 

Table 3: Northern Zone assay results above 0.3 g/t Au from all grade control drill holes

Hole ID
Depth From
Depth To
Width
Au ppm
NZAC146
56
57
1
3.46
NZAC146
57
58
1
1.71
NZAC146
58
59
1
1.5
NZAC146
59
60
1
1.39
NZAC146
60
61
1
0.76
NZAC146
62
63
1
1.01
NZAC146
63
64
1
1.28
NZAC146
64
65
1
0.65
NZAC148
47
48
1
0.44
NZAC148
60
61
1
0.43
NZAC149
42
43
1
0.98
NZAC149
45
46
1
1.35
NZAC149
47
48
1
11.78
NZAC150
48
49
1
2.04
NZAC150
49
50
1
3.33
NZAC150
50
51
1
0.3
NZAC150
61
62
1
0.5
NZAC150
62
63
1
0.66
NZAC150
63
64
1
0.59
NZAC150
64
65
1
4.26
NZAC150
65
66
1
2.72
NZAC151
47
48
1
2.01
NZAC151
48
49
1
0.52
NZAC151
50
51
1
0.59
NZAC152
67
68
1
0.69
NZAC152
68
69
1
0.37
NZAC152
69
70
1
0.49
NZAC152
70
71
1
1.47
NZAC152
71
72
1
0.91
NZAC153
32
33
1
0.46
NZAC153
34
35
1
0.3
NZAC153
37
38
1
2.9
NZAC153
46
47
1
11
NZAC153
54
55
1
0.97
NZAC153
55
56
1
0.51
NZAC153
60
61
1
0.33
NZAC154
32
33
1
0.31
NZAC154
34
35
1
0.66
NZAC154
35
36
1
2.14
NZAC154
37
38
1
0.4
NZAC154
39
40
1
1.16
NZAC154
45
46
1
1.1
NZAC155
31
32
1
0.82
NZAC155
40
41
1
0.66
NZAC155
49
50
1
1.94
NZAC155
50
51
1
1
NZAC155
53
54
1
0.35
NZAC156
32
33
1
0.41
NZAC156
42
43
1
1.88
NZAC156
43
44
1
0.45
NZAC156
45
46
1
6.43
NZAC156
46
47
1
1.74
NZAC156
48
49
1
0.42
NZAC157
33
34
1
0.35
NZAC157
34
35
1
1.05
NZAC157
35
36
1
0.7
NZAC157
44
45
1
2.34
NZAC157
45
46
1
0.3
NZAC158
34
35
0.33
NZAC158
38
39
0.65
NZAC158
39
40
1.3
NZAC159
34
35
0.56
NZAC159
39
40
1.01
NZAC159
49
50
0.52
NZAC159
61
62
1.26
NZAC160
35
36
0.75
NZAC160
39
40
0.44
NZAC160
40
41
3.44
NZAC160
44
45
2.81
NZAC160
60
61
1.83
NZAC161
27
28
0.46
NZAC161
28
29
0.56
NZAC161
34
35
0.99
NZAC161
42
43
0.36
NZAC161
27
28
1
0.46
NZAC161
28
29
1
0.56
NZAC161
34
35
1
0.99
NZAC161
42
43
1
0.36
NZAC163
35
36
1
0.41
NZAC164
42
43
1
0.31
NZAC165
36
37
1
0.33
NZAC165
40
41
1
0.79
NZAC166
35
36
1
0.39
NZAC166
38
39
1
0.62
NZAC166
60
61
1
0.33
NZAC166
61
62
1
0.33
NZAC168
27
28
1
0.54
NZAC168
44
45
1
2.10
NZAC169
35
36
1
0.31
NZAC170
41
42
1
0.35
NZAC170
42
43
1
3.38
NZAC170
44
45
1
9.86
NZAC170
45
46
1
2.03
NZAC170
77
78
1
2.94
NZAC170
88
89
1
0.30
NZAC170
89
90
1
0.39
NZAC170
93
94
1
0.39
NZAC170
94
95
1
1.96
NZAC170
97
98
1
0.43
NZAC171
40
41
1
1.25
NZAC171
41
42
1
1.50
NZAC171
42
43
1
1.19
NZAC171
45
46
1
0.37
NZAC171
65
66
1
0.53
NZAC171
67
68
1
0.36
NZAC172
36
37
1
0.98
NZAC172
37
38
1
0.95
NZAC172
40
41
1
0.30
NZAC172
42
43
1
2.10
NZAC172
61
62
1
3.21
NZAC172
62
63
1
0.36
NZAC172
86
87
1
0.44
NZAC179
39
40
1
0.30
NZAC179
41
42
1
0.42
NZAC179
46
47
1
14.67
NZAC179
47
48
1
0.95
NZAC179
49
50
1
0.46
NZAC179
50
51
1
15.35
NZAC179
51
52
1
12.48
NZAC179
52
53
1
1.17
NZAC179
53
54
1
1.17
NZAC179
57
58
1
0.46
NZAC180
42
43
1
0.33
NZAC180
43
44
1
0.37
NZAC181
48
49
1
16.74
NZAC181
49
50
1
1.18
NZAC181
50
51
1
1.53
NZAC181
51
52
1
0.91
NZAC181
54
55
1
3.55
NZAC182
43
44
1
1.25
NZAC182
44
45
1
2.97
NZAC182
46
47
1
1.14
NZAC184
42
43
1
0.72

 

 

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 Surface Drilling completed the program using a face sampling hammer on an Atlas Copco grade control rig.
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) - Au Duplicates, 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 Riversgold (Australia) Pty Ltd 80/100, Oracle Gold (WA) Pty Ltd 20/100.
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.
Northern Zone is hosted within a porphyry unit (Tonalite- Trondhjemite Intrusion, TTI), with high background gold and horizontal gold mineralised units within the TTI unit. The Northern Zone Project sits within the Canon Shear or fault zone, with further drilling required to define the limits of mineralisation identified to date.
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. Step out RC drilling to be the same as the diamond drilling. Mineralisation has been determined from structural logging to be horizontal and vertical drilling is therefore true width drilling.
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

 

[1] Announcement dated 23 December 2025 - " Kalgoorlie Gold Project Native Title Agreements Signed"

[2] Announcement dated 30 September 2025 - " Riversgold Signs Mining and Co-Operation Agreement for Northern Zone Gold Project Near Kalgoorlie"

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