REG - Oracle Power PLC - Metallurgical Results Confirm +90% Gold Recovery
20/05/2025 07:00
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RNS Number : 2982J Oracle Power PLC 20 May 2025
20 May 2025
Oracle Power PLC
("Oracle" or the "Company")
Northern Zone Project:
Metallurgy of Oxide Samples show +90% Gold Recovery
Final Assay Results for Recent Drilling Programme
Oracle Power PLC (AIM: ORCP), an international project developer, is pleased
to announce further positive metallurgical results above 90% gold recovery,
along with the final drilling results from recent drill programmes 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). This work is aimed at progressing the Project towards
a maiden Mineral Resource Estimate (MRE).
Highlights:
o Metallurgical testing, using the cyanide bottle roll method, indicated
gold recoveries from two oxide samples of:
- 93.67% and 90.64% (duplicate sample), a 92.16% average.
- Similar testing of three oxide samples in 2022 reported an average
gold recovery of 92.9% over 24 hours.
- This indicates an overall average gold recovery from the five
samples of 92.56%
o All assay results are now returned, providing a clear direction for future
drilling to connect the west and east mineralised zones. Final results set
out in Tables 1-3 below.
o The PoW for this drilling has been recently approved.
o An upcoming site visit is planned to review and discuss the mineralisation
models on Northern Zone prepared by the consultants, Xirlatem, as the Project
moves towards a maiden MRE.
Naheed Memon, CEO of Oracle, commented:
"Metallurgical testwork using cyanide bottle roll has closely replicated the
original 2022 work previously reported, with all results between 90.64% and
94.7% for five samples, resulting in an average 92.56% gold recovery. This is
an excellent result and bodes well for future plans to scope out potential
starter pits for toll treatment. All the results are back from the recent
reverse circulation and aircore drilling programmes, which illustrates the
main oxide mineralisation has the potential to link the west and east
mineralised zones. The structural and geological modelling being undertaken by
Xirlatem, will continue the solid basis for the maiden MRE and will inform
future drilling. We will continue to update shareholders as we progress the
project."
Northern Zone Metallurgy Results:
As announced on 13 June 2022, three metallurgical samples were submitted to
Nagrom's metallurgical laboratory in Perth, in order to determine potential
gold recoveries of Northern Zone oxide material from the previous Reverse
Circulation ("RC") drilling conducted by the Company in October 2021. This was
undertaken by Riversgold Limited (ASX: RGL) ("Riversgold") as part of its
initial due diligence. The results from the three samples showed recoveries of
91.8% and 92%, with a maximum individual recovery of 94.7% for an average
recovery of 92.9% after 24 hours.
The most recent cyanide bottle roll results on RC drill hole NZRC008 (Figure
2) was undertaken by Jinnings in Perth and has shown recoveries on a single
composite and duplicate sample of 93.67% and 90.64% respectively and averages
92.16%.
The overall average gold recoveries from both the 2022 and 2025 cyanide Bottle
Roll tests is 92.56% which bolsters confidence in excellent metallurgy for
the Northern Zone project.
Northern Zone Latest Drilling Results
The final assay results have been received for 414 samples from the final 11
vertical aircore (AC) drill holes (Tables 1-3) of the 32 hole 1,805m
programme. The drill holes on the north-western side of the tenement appeared
to have closed off mineralisation, however, drill holes NZAC144 and NZAC145
have intersected shallow zones of mineralisation that will require follow-up
drilling.
The AC and RC programme results (see also Figures 3-4), continue to
successfully intersect the mineralised host porphyry over an increasing
footprint and consistently validate the broader gold mineralisation model.
Further drilling will be undertaken to further the understanding of the
project as it advances to a maiden MRE. The current structural analysis by
Xirlatem will also assist with future targeting. The priority moving forwards
is the connection of the western and eastern zones of mineralisation, over an
area which has had limited drill testing. The 2025 drilling results to date
have confirmed this strategy, to rapidly increase the oxide potential.
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) 20 3580 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: Northern Zone Metallurgical information from oxide sample.
Figure 3 and 4: Most significant 2025 RC and AC drill collar plan with gold
grade contours from all drilling results to date.
APPENDIX 1: Drilling Information
Table 1: Northern Zone Significant Intercepts from AC drill holes
Hole ID From (m) To (m) Width (m) Au g/t Intercept
NZAC135 42 44 2 0.64 2m @ 0.64 g/t Au from 42m, NZAC135
NZAC136 46 47 1 1.16 1m @ 1.16 g/t Au from 46m, NZAC136
NZAC139 33 36 3 0.58 3m @ 0.58 g/t Au from 33m, NZAC139
NZAC141 32 34 2 0.62 2m @ 0.62 g/t Au from 32m, NZAC141
NZAC144 30 36 6 0.82 6m @ 0.82 g/t Au from 30m, NZAC144
including 34 35 1 1.84 Including 1m @ 1.84 g/t Au from 34m
NZAC145 27 34 7 0.65 7m @ 0.65 g/t Au from 27m, NZAC145
including 32 33 1 1.98 Including 1m @ 1.98 g/t Au from 32m
Table 2: Northern Zone Drill Collar Locations
Hole id Type MGA_E MGA_N Elevation (m) Total Depth (m) Dip ((o)) AZM_MGA Date
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 from AC drill holes
Hole ID Depth From Depth To Width Au ppm
NZAC135 42 43 1 0.98
NZAC136 34 35 1 0.48
NZAC136 46 47 1 1.16
NZAC137 31 32 1 0.41
NZAC137 39 40 1 0.64
NZAC138 43 44 1 0.61
NZAC139 33 34 1 0.50
NZAC139 34 35 1 0.97
NZAC141 32 33 1 0.81
NZAC141 33 34 1 0.42
NZAC141 42 43 1 0.55
NZAC144 30 31 1 1.23
NZAC144 32 33 1 0.75
NZAC144 33 34 1 0.63
NZAC144 34 35 1 1.84
NZAC144 35 36 1 0.41
NZAC145 27 28 1 0.32
NZAC145 28 29 1 0.86
NZAC145 29 30 1 0.43
NZAC145 32 33 1 1.98
NZAC145 33 34 1 0.68
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 Metallurgy sample was selected from recent RC drilling reported to the ASX on
specialised industry standard measurement tools appropriate to the minerals 19 March 2025.
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.
Every Aircore metre drilled was placed on the ground.
Include reference to measures taken to ensure sample representivity and the
appropriate calibration of any measurement tools or systems used. 6m composites were collected using a scoop method of sampling the coarse
reject sample for the first 24m.
Aspects of the determination of mineralisation that are Material to the Public
Report. 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
In cases where 'industry standard' work has been done this would be relatively wet, but have a damp characteristic. A large metal scoop was (used) to sample
simple (eg 'reverse circulation drilling was used to obtain 1 m samples from between 70-90% of material from each metre drilled, to total between 2-3kg
which 3 kg was pulverised to produce a 30 g charge for fire assay'). In other samples.
cases, more explanation may be required, such as where there is coarse gold
that has inherent sampling problems. Unusual commodities or mineralisation Standard reference material, sample duplicates and blanks, were undertaken at
types (eg submarine nodules) may warrant disclosure of detailed information. 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, Australian Aircore Drilling completed the programme 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).
Metallurgy sample was from Reverse Circulation drilling.
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 To be noted, is that there is no active water table and all samples are dry,
material. making estimates of recovery easier as samples remain the same size.
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
SCHEME LWL1000
A 1000g charge is leached using LeachWell Assay Tabs(TM) under manufacturers
specified leach conditions. The resultant liquor is analysed for gold to
determine cyanide soluble gold content, using 50-gram Fire Assay (FA50A)
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
Sampling techniques Nature and quality of sampling (eg cut channels, random chips, or specific Metallurgy sample was selected from recent RC drilling reported to the ASX on
specialised industry standard measurement tools appropriate to the minerals 19 March 2025.
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.
Every Aircore metre drilled was placed on the ground.
Include reference to measures taken to ensure sample representivity and the
appropriate calibration of any measurement tools or systems used. 6m composites were collected using a scoop method of sampling the coarse
reject sample for the first 24m.
Aspects of the determination of mineralisation that are Material to the Public
Report. 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
In cases where 'industry standard' work has been done this would be relatively wet, but have a damp characteristic. A large metal scoop was used to sample
simple (eg 'reverse circulation drilling was used to obtain 1 m samples from between 70-90% of material from each metre drilled, to total between 2-3kg
which 3 kg was pulverised to produce a 30 g charge for fire assay'). In other samples.
cases, more explanation may be required, such as where there is coarse gold
that has inherent sampling problems. Unusual commodities or mineralisation Standard reference material, sample duplicates and blanks, were undertaken at
types (eg submarine nodules) may warrant disclosure of detailed information. 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, Australian Aircore Drilling completed the programme 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).
Metallurgy sample was from Reverse Circulation drilling.
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 To be noted, is that there is no active water table and all samples are dry,
material. making estimates of recovery easier as samples remain the same size.
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
SCHEME LWL1000
A 1000g charge is leached using LeachWell Assay Tabs(TM) under manufacturers
specified leach conditions. The resultant liquor is analysed for gold to
determine cyanide soluble gold content, using 50-gram Fire Assay (FA50A)
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
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