REG - Oracle Power PLC - Copper Samples Taken from Blue Rocks Project

Oracle PowerAnnouncement

27/06/2024 07:00

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RNS Number : 0500U  Oracle Power PLC  27 June 2024

27 June 2024

Oracle Power PLC

("Oracle" or the "Company")

 High-Grade Copper Samples Taken from Blue Rocks Project in Australia

 

Oracle Power PLC (AIM:ORCP), an international project developer, is pleased to
update that further to its announcement on 19 June 2024, company consultant
geologists have recovered what they consider to be on initial analysis
excellent copper samples from site at the Blue Rock Valley Copper and Silver
Project (the "Project").

 

Figures 1 to 5 show samples of what appear to be very high-grade copper
mineralisation, which has led to the name of the project. 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
6 below for location.

 

Highlights:

·    Company consultant geologists have now completed a site visit to Blue
Rock Valley

·    Samples have been logged, recorded and taken to Perth for analysis

·    Samples will be submitted for assay this week and results will be
announced in due         course

·          On confirmation of the high-grade samples from the
laboratory, the Company will:

-      Further refine the benefits of ground gravity, electromagnetics or
other   geophysical programme over the greater project area

-      Get quotes for a ground based electromagnetic ("EM") survey over
an        airborne EM anomaly that was defined as a result of prior
work that is undrilled and untested and sits in a syncline of sedimentary
rocks that are potentially ideal for base metals (copper, lead, zinc) and
silver to be deposited.

-      Undertake drilling when viable.

·    Further targeting tools will continue to be assessed in order to
refine and develop targets

·    Gold and uranium are also being targeted as these deposit types occur
within the Ashburton Basin

 

Naheed Memon, CEO of Oracle, commented:

"I am very pleased to announce that we have completed a site visit to Blue
Rocks, where company geologists took copper samples and photos of
mineralisation and the project area. I look forward to the assay results from
the laboratory, that will assist in the next steps forward. We will also
continue to assess the Project for gold and uranium."

 

About Blue Rock Valley Copper and Silver Project:

 

The Project Tenement:

▪     The Project tenement (the "Tenement") covers 32 Blocks
(approximately 102km(2)) (see Figure 6 below) 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.

 

-END-

 

For further information on Oracle Power PLC, visit the Company's website
www.oraclepower.co.uk (http://www.oraclepower.co.uk) or contact:

 

Oracle Power PLC

Naheed Memon -
CEO
+44 (0) 20 7236 1177

 

Strand Hanson Limited (Nominated Adviser & Joint Broker)

Rory Murphy, Matthew Chandler, Rob
Patrick
+44 (0) 20 7409 3494

 

St Brides Partners Limited (Financial PR)

Susie Geliher
 
                             +44 (0) 20 7236 1177

 

 

Figure 1: Photo of Rich Copper Oxide Sample from Historical Run of Mine pile
next to Historical Shaft at Blue Rock Valley.

 

Figure 2: Photo of Rich Copper Oxide Sample from Historical Run of Mine pile next to Historical Shaft at Blue Rock Valley.

Figure 3: Photo of Rich Copper Oxide within Historical Trench near main shaft
at Blue Rock Valley.

 

 

Figure 4: Photo of one of the covered up historical shafts at Blue Rock Valley.

Figure 5: Photo of Blue Rock Valley which runs up to the right-hand side of the photo.

Figure 6: Blue Rock Valley project location and access

 

 

 

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