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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 (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 Every metre drilled was placed on the ground.
specialised industry standard measurement tools appropriate to the minerals
under investigation, such as down hole gamma sondes, or handheld XRF 6m composites were collected using a scoop method of sampling the coarse
instruments, etc). These examples should not be taken as limiting the broad reject sample for the first 24m.
meaning of sampling.
1m sampling using a rifle splitter was trialed on the clays, from 24m, with
Include reference to measures taken to ensure sample representivity and the sampling deemed to create a high degree risk of smearing. The clays are not
appropriate calibration of any measurement tools or systems used. 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
Aspects of the determination of mineralisation that are Material to the Public samples.
Report.
Standard reference material, sample duplicates and blanks, were undertaken at
In cases where 'industry standard' work has been done this would be relatively 25m sample intervals.
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 Samples were sent to the laboratory for crushing, splitting and analysis.
cases, more explanation may be required, such as where there is coarse gold
that has inherent sampling problems. Unusual commodities or mineralisation Analysis was undertaken by Jinnings laboratories (Kalgoorlie) for gold assay
types (eg submarine nodules) may warrant disclosure of detailed information. by 50g fire assay.
Drilling techniques Drill type (eg core, reverse circulation, open-hole hammer, rotary air blast, Australian Aircore Drilling completed the program using a blade to refusal.
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).
Drill sample recovery Method of recording and assessing core and chip sample recoveries and results Drill recovery was routinely recorded via estimation of the comparative
assessed. percentage of the volume of the sample bag by the company geologist.
Measures taken to maximise sample recovery and ensure representative nature of The sample recovery was deemed excellent for representative assays.
the samples.
The cyclone was cleaned or checked every 6m.
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.
Logging Whether core and chip samples have been geologically and geotechnically logged All holes have been geologically logged for lithology, mineralisation and
to a level of detail to support appropriate Mineral Resource estimation, weathering. As well as whether dry, damp or wet.
mining studies and metallurgical studies.
Logging is quantitative for presence of quartz veins. All other logging is
Whether logging is qualitative or quantitative in nature. Core (or costean, qualitative.
channel, etc) photography.
A brief description of each drilling sample was recorded and a permanent
The total length and percentage of the relevant intersections logged. 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. 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
If non-core, whether riffled, tube sampled, rotary split, etc and whether wet, but have a damp characteristic. A large metal scoop was used to sample
sampled wet or dry. between 70-90% of material from each metre drilled, to total between 2-3kg
samples.
For all sample types, the nature, quality and appropriateness of the sample
preparation technique. Standard reference material, sample duplicates and blanks, were undertaken at
25m sample intervals.
Quality control procedures adopted for all sub-sampling stages to maximise
representivity of samples. Samples were sent to the laboratory for crushing, splitting and analysis.
Measures taken to ensure that the sampling is representative of the in-situ The use of fire assay with 50g charge for all AC drilling provides a level of
material collected, including for instance results for field confidence in the assay database. The sampling and assaying are considered
duplicate/second-half sampling. representative of the in-situ material.
Whether sample sizes are appropriate to the grain size of the material being The sample size of 2-3 kilograms is appropriate and representative of the
sampled. 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 Jinnings (Kalgoorlie) were used for all analysis of drill samples submitted by
procedures used and whether the technique is considered partial or total. Riversgold. The laboratory techniques below are for all samples submitted to
Jinnings and are considered appropriate for the style of mineralisation
For geophysical tools, spectrometers, handheld XRF instruments, etc, the defined within the Northern Zone Project area:
parameters used in determining the analysis including instrument make and
model, reading times, calibrations factors applied and their derivation, etc. Samples above 3Kg were riffle split.
Nature of quality control procedures adopted (eg standards, blanks, Pulverise to 95% passing 75 microns
duplicates, external laboratory checks) and whether acceptable levels of
accuracy (ie lack of bias) and precision have been established. 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 Intercepts were reviewed by 2 company personnel.
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.
Location of data points Accuracy and quality of surveys used to locate drill holes (collar and The collar position of each hole has been marked out with a Garmin Inreach
down-hole surveys), trenches, mine workings and other locations used in Explorer+ hand held GPS, and will be picked up by Spectrum Surveys
Mineral Resource estimation. (Kalgoorlie) using a DGPS.
Specification of the grid system used.
Quality and adequacy of topographic control.
Data spacing and distribution Data spacing for reporting of Exploration Results. The holes were drilled on a nominal Northeast-Southwest 20m spacing on
traverses 15-20m apart.
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.
Orientation of data in relation to geological structure Whether the orientation of sampling achieves unbiased sampling of possible Based on logging of diamond core the drill holes appear to be orientated
structures and the extent to which this is known, considering the deposit perpendicular to strike and dip of the main mineralised structures.
type.
An interpreted fault though the middle of the mineralisation may have caused
If the relationship between the drilling orientation and the orientation of some displacement.
key mineralised structures is considered to have introduced a sampling bias,
this should be assessed and reported if material.
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 The Northern Zone Project is comprised of one granted prospecting licence
material issues with third parties such as joint ventures, partnerships, (P25/2651) which covers an area of 82 hectares, and is held in the name of
overriding royalties, native title interests, historical sites, wilderness or Oracle Gold (WA) Pty Ltd.
national park and environmental settings.
RGL have farmed into the Tenement and have exceeded minimum spend of $600,000
The security of the tenure held at the time of reporting along with any known in exploration expenditure on the tenement within two years, to achieve 80%
impediments to obtaining a licence to operate in the area. 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 Refer to Tables and Figures within the body of the release.
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.
Data aggregation methods In reporting Exploration Results, weighting averaging techniques, maximum Intersections are weighted average grades based on a 0.001 g/t Au cut-off with
and/or minimum grade truncations (eg cutting of high grades) and cut-off unlimited waste zones but with a targeted grade of 0.4-0.6g/t Au.
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.
Relationship between mineralisation widths and intercept lengths These relationships are particularly important in the reporting of Exploration The diamond drilling program in 2023 confirmed the apparent widths of
Results. 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
If the geometry of the mineralisation with respect to the drill hole angle is mineralisation is still to be fully ascertained.
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').
Diagrams Appropriate maps and sections (with scales) and tabulations of intercepts See body of the announcement for relevant diagrams and photos.
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.
Balanced reporting Where comprehensive reporting of all Exploration Results is not practicable, The reporting of exploration results is considered balanced by the competent
representative reporting of both low and high grades and/or widths should be person.
practiced to avoid misleading reporting of Exploration Results.
Other substantive exploration data Other exploration data, if meaningful and material, should be reported See body of the announcement.
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.
Further work The nature and scale of planned further work (eg tests for lateral extensions · Follow up phases of drilling to further test strike to be
or depth extensions or large-scale step-out drilling). undertaken.
Diagrams clearly highlighting the areas of possible extensions, including the · Complete a maiden MRE
main geological interpretations and future drilling areas, provided this
information is not commercially sensitive.
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