REG - Oracle Power PLC - Blue Rocks Copper Project Update

Oracle PowerAnnouncement

31/03/2025 07:15

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RNS Number : 7621C  Oracle Power PLC  31 March 2025

31 March 2025

Oracle Power PLC

("Oracle" or the "Company")

Exploration Underway at the Blue Rocks Copper Project in Australia

APEX Geoscience on site to complete maiden geochemical sampling programme

Oracle Power PLC (AIM:ORCP), an international project developer, is pleased to
announce that Apex Geoscience has started the maiden geochemical sampling
programme to progress exploration at the Blue Rock Valley Copper and Silver
Project (the "Project"), located in the Ashburton Basin in the northwest
region of Western Australia. The Project is located 165km southeast of Onslow,
the main port for the region's Iron and LNG exports, which is a multi-user
port. The Project site is accessed from the North West Coastal Highway on a
well-maintained unsealed road. Refer to Figure 1 below for location.

 

Apex Geoscience has started the geochemical sampling programme over the
multiple gravity targets identified along the main Blue Rock valley copper
mineralised trend of ~2km strike, Figures 2 and 3. Drilling targets will be
refined by this sampling programme.  Further geophysical techniques are also
being considered such as Expert Geophysics MobileMT drone-based system, that
has had been successful in identifying sulphide anomalies in Western
Australia.

 

Naheed Memon, CEO of Oracle, commented:

"I am very pleased with the positive results to date, and it is great to now
bring Apex Geoscience in to the project and start exploration over the gravity
anomalies that strike over ~ 2km around the high grade copper rock chip
samples. Geochemical sampling is underway as the next best step to advance the
project towards drilling, and will be used as a multi vector to rank gravity
anomalies for priority drilling. I look forward to updating shareholders in
due course as we continue work advancing this project."

 

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

 

 

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.

 

About Blue Rock Valley Copper and Silver Project:

The Project Tenement:

The Project tenement (the "Tenement") covers 32 Blocks (approximately
102km(2)) (Figure 1) and is composed of one granted exploration licence,
E08/3604. Oracle Power announced on the 11 June 2024 that it had exercised its
option to acquire 100% of the tenement. The Tenement was granted on 2 October
2023 and expires on 26 October 2028 but is renewable. The first term is
therefore five years with a possible initial extension of five years and
further extensions of two years thereafter, with 40% of the licence area to be
surrendered at the end of year six.

The Blue Rock Valley Copper and Silver Project (E08/3604) is in the Ashburton
Basin, in the northwest region of Western Australia. The site is located 165km
southeast of Onslow, the main port for the region's Iron and LNG exports,
which is a multi-user port. Access is from the Northwest Coastal Highway on a
well-maintained unsealed road.

Project Geology

The eastern portion of the Project area overlies the Wyloo Group sediments of
the Ashburton Basin which are unconformably overlain by rocks of the Edmund
Basin (previously the Bangemall Basin), which cover the western portion of the
Tenement. The contact between the Ashburton and Edmund basins is interpreted
as being a thrust contact with movement to the west and can be clearly seen in
the regional aeromagnetic image.

Mineralisation

The Ashburton Mineral Field (which incorporates the Project area) has a long
history of gold, copper, silver, lead and zinc exploration.

Several smaller prospects which were historically exploited for gold, copper,
silver and lead are located nearby including the Soldiers Secret and Top Camp
gold deposits. Small-scale production of copper, lead and silver has also been
recorded in the Ashburton Basin, mainly from the Ashburton Downs copper
deposits within the Project area and others in the region such as Kooline (Pb,
Ag) and Bali Hi (Cu-Pb-Ag) areas.

 

Blue Rock Valley high-grade rock chip and grab samples as announced on 12 July
2024 that confirmed the historical tenure of the copper mineralisation:

·    18.2% Copper, OBR001

·    12.34% Copper, OBR002

·    25.7% Copper, OBR003

·    8.56% Copper, OBR004

·    10.08% Copper, OBR005

A ground gravity survey confirmed multiple gravity targets for follow up work
along the main Blue Rock valley copper mineralised trend of ~2km strike the
survey covered.

 

 

Figure 1: Blue Rock Valley project location and access

Figure 2: Zoomed in gravity survey results over the immediate Blue Rock Valley
known mineralisation with 1VD Bouguer Gravity anomalies highlighted in red
circles

 

Figure 3: 1VD Bouguer Gravity with VTEM anomalies (Red Stars) and red oval for
Blue Rock Valley gravity anomalism. Red rectangle of area to be targeted with
geochemical sampling.

 

 

 

APPENDIX 1: Drilling Information

 

Table 1: 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

 

Table 2: Northern Zone Significant Intercepts

 Hole ID    From (m)  To (m)  Width (m)  Au g/t  Intercept

 NZRC007    39        93      54         0.65    54m @ 0.65 g/t Au from 39m
 including  39        46      7          3.62    inc. 7m @ 3.62 g/t Au from 39m
 including  42        43      1          10.81   inc. 1m @ 10.81 g/t Au from 42m
 including  44        45      1          12.10   inc. 1m @ 12.10 g/t Au from 44m
 including  52        53      1          3.97    inc. 1m @ 3.97 g/t Au from 52m
 NZRC008    37        91      54         0.51    54m @ 0.51 g/t from 37m
 including  37        42      5          4.37    inc. 5m @ 4.37 g/t Au from 37m
 including  40        41      1          15.13   inc. 1m @ 15.13 g/t Au from 40m

 

 

 

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