REG - Oracle Power PLC - Northern Zone Delivers High-Grade Gold Intercepts
11/07/2024 07:00
For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20240711:nRSK9995Va&default-theme=true
RNS Number : 9995V Oracle Power PLC 11 July 2024
11 July 2024
Oracle Power PLC
("Oracle" or the "Company")
Northern Zone Delivers Further High-Grade Gold Intercepts
25km ESE of Kalgoorlie, Western Australia
Oracle Power PLC (AIM:ORCP), an international project developer, is pleased to
announce that it has received assay results from its recently completed
Reverse Circulation (RC) drilling programme at the Northern Zone Intrusive
Hosted Gold Project, located 25 km east of Kalgoorlie in Western Australia
(refer to Figure 1 for location).
HIGHLIGHTS
· Reverse Circulation (RC) drilling at the Northern Zone Gold Project
has intersected gold mineralisation both to the north and south of the maiden
diamond drill hole traverse.
· The RC drilling targeted the shallower, up dip portion of the
mineralised system, yielding several significant intercepts, including:
o 18m @ 4.14g/t Au from 36m (hole NZRC001)
o 54m @ 0.38g/t Au from 158m (hole NZRC004)
o 14m @ 0.76g/t Au, from 226m to end of hole (EOH) (hole NZRC004)
o 15m @ 0.66g/t Au, from 160m (hole NZRC005)
o 8m @ 0.57g/t Au, from 221m to EOH (hole NZRC005)
o 9m @ 0.85g/t Au, from 176m (hole NZRC006)
o 22m @ 0.41g/t Au, from 272m to EOH (hole NZRC006)
· Significant results from the maiden 2023 diamond drill traverse
included¹:
o 110m @ 0.60 g/t Au from 208m (hole RSDD02)
o 16.4m @ 0.45g/t Au from 83.6m (hole RSDD003)
o 13m @ 0.48g/t Au from 135m (hole RSDD003)
o 11m @ 0.49g/t Au from 197m (hole RSDD003)
o 26m @ 0.44g/t Au from 231m (hole RSDD003)
o 47m @ 0.48g/t Au from 216m (hole RSDD01)
o 84m @ 0.42g/t Au from 315m (hole RSDD003)
· Further drilling is planned to the north-east, following the
mineralised porphyry.
· Previously announced Exploration Target at Northern Zone Gold Project
of 200Mt - 250Mt at a grade of 0.4 g/t Au - 0.6 g/t Au for an Exploration
Target of 2.5Moz - 4.8Moz of gold².
Naheed Memon, CEO of Oracle, commented: "These latest results at the Northern
Zone Gold Project have revealed shallower supergene gold mineralisation than
anticipated and have delineated the south-west boundary of the gold system.
The next phase of drilling will test extensions to the north-east, north-west
and south-east, building on the diamond drill programme that encountered gold
mineralisation up to depths of 450 metres and thicknesses exceeding 150
metres. A follow-up drill programme will also target an identified fault,
believed to be a controlling feature of mineralisation in the area. This
follow-up campaign will be finalised after we receive all assays from the
recent air core programme, conducted concurrently with the RC drilling. We
look forward to receiving these additional drilling results shortly."
The Northern Zone Gold Project has an Exploration Target of 200 to 250 million
tonnes at a grade of 0.4 g/t to 0.6 g/t Au for 2.5 to 4.8 million oz of gold,
as announced by Riversgold Limited (ASX:RGL) on the ASX on 9 May 2023.
Cautionary Statement: The potential quantity and grade of the Exploration
Target is conceptual in nature. There has been insufficient exploration to
estimate a Mineral Resource and it is uncertain if further exploration will
result in the estimation of a Mineral Resource. The reader is advised that an
Exploration Target is based on existing drill results and geological
observations from drilling as well as interpretation of multiple available
datasets. The Exploration Target is based on historical and more recent Oracle
drilling results. It utilises data from 53 historical drillholes drilled
between 1998 and 2012, and seven drillholes drilled by Oracle in 2021.
Change of Broker
The Company also announces that Strand Hanson Limited will act as its sole
broker with immediate effect.
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
deposits 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.
(¹)Riversgold Limited (ASX:RGL) ASX announcement of 12 December 2023
"+100metre Wide Gold Intercepts at Northern Zone Project".
² Riversgold Limited (ASX:RGL) ASX announcement of 9 May 2023 "Farm into
Significant Porphyry Hosted Gold Project".
-ENDS-
For further information visit www.oraclepower.co.uk or contact:
Oracle Power PLC +44 (0) 203 580 4314
Naheed Memon -CEO
Strand Hanson Limited (Nominated Adviser & Broker) +44 (0) 20 7409 3494
Rory Murphy, Matthew Chandler, Rob Patrick
St Brides Partners Limited (Financial PR) oracle@stbridespartners.co.uk
Susie Geliher, Isabel de Salis
Glossary for technical terms
EOH End of hole
Au Gold
RC Reverse Circulation
g/t Grams per tonne
Moz Million ounces
MGA_E Magnetic easting
MGA_N Magnetic northing
AZM_MGA Azimuth
Figure 1: Northern Zone Gold Project map showing proximity to the Kalgoorlie
"Super Pit".
Figure 2: Northern Zone drill collar plan.
APPENDIX 1: Drilling Information
Table 1: Northern Zone Drill Collar Locations
Hole ID Type MGA_E MGA_N Elevation Total Depth (m) Dip AZM_MGA
NZRC001 RC 381532 6592585 356 200 -60 225
NZRC002 RC 381581 6592641 356 250 -60 225
NZRC003 RC 381668 6592511 356 150 -60 225
NZRC004 RC 381726 6592564 356 240 -60 225
NZRC005 RC 381725 6592457 356 229 -60 225
NZRC006 RC 381791 6592518 356 294 -60 225
Table 2: Northern Zone drilling significant result intercepts
Hole id From (m) To (m) Width (m) Gm/m Av. Grade Intercept
NZRC001 36 54 18 20.52 4.14 18m @ 4.14g/t Au
63 69 6 1.44 0.24 6m @ 0.24g/t Au
148 152 4 2.16 0.54 4m @ 0.54g/t Au
177 180 3 1.35 0.45 3m @ 0.45g/t Au
NZRC002 36 45 9 4.32 0.48 9m @ 0.48g/t Au
57 71 14 3.36 0.24 14m @ 0.24g/t Au
121 128 7 2.38 0.34 7m @ 0.34g/t Au
140 147 7 5.81 0.83 7m @ 0.83g/t Au
NZRC003 63 69 6 1.80 0.30 6m @ 0.3g/t Au
NZRC004 75 82 7 8.89 1.27 7m @ 1.27g/t Au
158 212 54 20.52 0.38 54m @ 0.38g/t Au
226 240 14 10.64 0.76 14m @ 0.76g/t Au, EOH
NZRC005 63 66 3 1.02 0.34 3m @ 0.34g/t Au
71 77 6 1.26 0.21 6m @ 0.21g/t Au
160 175 15 9.90 0.66 15m @ 0.66g/t Au
205 215 10 2.70 0.27 10m @ 0.27g/t Au
221 229 8 4.56 0.57 8m @ 0.57g/t Au, EOH
NZRC006 57 68 11 4.73 0.43 11m @ 0.43g/t Au
77 83 6 1.92 0.32 6m @ 0.32g/t Au
132 153 21 4.41 0.21 21m @ 0.21g/t Au
176 185 9 7.65 0.85 9m @ 0.85g/t Au
272 294 22 9.02 0.41 22m @ 0.41g/t Au, EOH
Table 3: Northern Zone assay results above 0.11 g/t Au
Hole ID Depth From (m) Depth To (m) Au g/t
NZRC001 36 39 0.42
NZRC001 39 42 16.35
NZRC001 42 45 5.09
NZRC001 45 48 2.19
NZRC001 48 51 0.15
NZRC001 51 54 0.69
NZRC001 63 66 0.22
NZRC001 66 69 0.26
NZRC001 143 144 0.12
NZRC001 148 149 0.52
NZRC001 149 150 0.64
NZRC001 150 151 0.52
NZRC001 151 152 0.46
NZRC001 160 161 0.25
NZRC001 177 178 0.5
NZRC001 178 179 0.43
NZRC001 179 180 0.41
NZRC002 36 39 0.73
NZRC002 39 42 0.19
NZRC002 42 45 0.52
NZRC002 52 53 0.26
NZRC002 57 58 0.14
NZRC002 59 60 0.15
NZRC002 61 62 0.3
NZRC002 62 63 0.67
NZRC002 63 64 0.41
NZRC002 64 65 0.24
NZRC002 65 66 0.32
NZRC002 66 67 0.26
NZRC002 67 68 0.2
NZRC002 68 69 0.22
NZRC002 69 70 0.14
NZRC002 70 71 0.11
NZRC002 78 79 0.11
NZRC002 81 82 0.16
NZRC002 88 89 0.49
NZRC002 92 93 0.49
NZRC002 93 94 0.24
NZRC002 95 96 0.14
NZRC002 107 108 0.11
NZRC002 109 110 0.11
NZRC002 116 117 0.21
NZRC002 118 119 0.12
NZRC002 121 122 0.22
NZRC002 125 126 0.22
NZRC002 126 127 1.65
NZRC002 127 128 0.12
NZRC002 140 141 0.57
NZRC002 141 142 1.22
NZRC002 142 143 3.36
NZRC002 143 144 0.33
NZRC002 145 146 0.17
NZRC002 146 147 0.12
NZRC002 246 247 1.08
NZRC003 63 66 0.15
NZRC003 66 67 0.29
NZRC003 67 68 0.79
NZRC003 68 69 0.29
NZRC003 74 75 0.44
NZRC003 88 89 0.13
NZRC003 90 91 0.14
NZRC003 91 92 0.27
NZRC003 100 101 0.49
NZRC003 133 134 0.24
NZRC003 135 136 0.13
NZRC004 45 48 0.25
NZRC004 63 64 0.11
NZRC004 64 65 0.19
NZRC004 65 66 0.11
NZRC004 66 67 0.15
NZRC004 75 76 0.12
NZRC004 76 77 1.92
NZRC004 77 78 4.2
NZRC004 78 79 2.02
NZRC004 79 80 0.34
NZRC004 81 82 0.27
NZRC004 132 133 0.14
NZRC004 133 134 0.43
NZRC004 142 143 0.38
NZRC004 144 145 0.37
NZRC004 158 159 0.12
NZRC004 163 164 0.12
NZRC004 164 165 0.95
NZRC004 165 166 0.14
NZRC004 166 167 0.15
NZRC004 169 170 0.37
NZRC004 170 171 0.43
NZRC004 171 172 0.17
NZRC004 172 173 0.5
NZRC004 173 174 0.81
NZRC004 174 175 1.05
NZRC004 175 176 0.61
NZRC004 176 177 0.14
NZRC004 178 179 0.22
NZRC004 181 182 0.23
NZRC004 182 183 0.21
NZRC004 183 184 0.19
NZRC004 186 187 0.18
NZRC004 190 191 6.16
NZRC004 191 192 0.33
NZRC004 192 193 0.28
NZRC004 194 195 1.81
NZRC004 195 196 0.79
NZRC004 197 198 0.53
NZRC004 198 199 0.79
NZRC004 206 207 1.11
NZRC004 207 208 0.12
NZRC004 208 209 0.15
NZRC004 209 210 0.37
NZRC004 211 212 0.13
NZRC004 233 234 0.28
NZRC004 235 236 0.4
NZRC004 236 237 0.2
NZRC004 237 238 0.93
NZRC004 238 239 7.39
NZRC004 239 240 0.78
NZRC005 63 64 0.27
NZRC005 64 65 0.4
NZRC005 65 66 0.34
NZRC005 71 72 0.2
NZRC005 72 73 0.23
NZRC005 73 74 0.14
NZRC005 74 75 0.29
NZRC005 75 76 0.15
NZRC005 76 77 0.22
NZRC005 91 92 0.25
NZRC005 100 101 0.12
NZRC005 101 102 0.16
NZRC005 160 161 0.11
NZRC005 162 163 0.13
NZRC005 163 164 3.41
NZRC005 164 165 0.18
NZRC005 165 166 0.38
NZRC005 166 167 2.37
NZRC005 167 168 0.58
NZRC005 168 169 0.64
NZRC005 169 170 0.2
NZRC005 170 171 0.18
NZRC005 171 172 0.7
NZRC005 172 173 0.13
NZRC005 173 174 0.4
NZRC005 174 175 0.4
NZRC005 189 190 0.29
NZRC005 191 192 0.29
NZRC005 194 195 0.12
NZRC005 196 197 0.87
NZRC005 205 206 0.31
NZRC005 206 207 0.83
NZRC005 207 208 0.49
NZRC005 208 209 0.36
NZRC005 209 210 0.11
NZRC005 210 211 0.2
NZRC005 214 215 0.14
NZRC005 221 222 0.12
NZRC005 223 224 0.21
NZRC005 224 225 1.77
NZRC005 225 226 0.98
NZRC005 226 227 1.23
NZRC005 228 229 0.11
NZRC006 57 60 0.54
NZRC006 60 61 1.1
NZRC006 61 62 0.22
NZRC006 62 63 0.2
NZRC006 63 64 0.23
NZRC006 64 65 0.26
NZRC006 65 66 0.21
NZRC006 66 67 0.38
NZRC006 67 68 0.51
NZRC006 69 70 0.18
NZRC006 71 72 0.16
NZRC006 77 78 0.69
NZRC006 80 81 0.42
NZRC006 81 82 0.25
NZRC006 82 83 0.5
NZRC006 104 105 0.11
NZRC006 112 113 0.2
NZRC006 113 114 0.25
NZRC006 114 115 0.28
NZRC006 115 116 0.12
NZRC006 117 118 0.13
NZRC006 129 130 0.15
NZRC006 132 133 0.39
NZRC006 134 135 0.41
NZRC006 136 137 0.38
NZRC006 137 138 0.22
NZRC006 138 139 0.46
NZRC006 140 141 0.18
NZRC006 141 142 0.24
NZRC006 144 145 0.49
NZRC006 145 146 0.18
NZRC006 146 147 0.19
NZRC006 149 150 0.42
NZRC006 152 153 0.49
NZRC006 159 160 0.15
NZRC006 176 177 0.21
NZRC006 177 178 1.35
NZRC006 178 179 3.66
NZRC006 179 180 1.36
NZRC006 180 181 0.62
NZRC006 181 182 0.18
NZRC006 184 185 0.11
NZRC006 221 222 0.3
NZRC006 233 234 0.12
NZRC006 236 237 0.15
NZRC006 241 242 0.15
NZRC006 242 243 0.15
NZRC006 269 270 0.12
NZRC006 272 273 0.57
NZRC006 274 275 0.19
NZRC006 275 276 0.73
NZRC006 276 277 0.37
NZRC006 277 278 0.47
NZRC006 278 279 0.15
NZRC006 279 280 0.27
NZRC006 282 283 0.46
NZRC006 283 284 0.94
NZRC006 286 287 0.12
NZRC006 288 289 0.29
NZRC006 289 290 2.08
NZRC006 291 292 0.48
NZRC006 292 293 1.35
NZRC006 293 294 0.12
This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
or visit
www.rns.com (http://www.rns.com/)
.
RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
. END DRLGUGDRSSBDGSBRecent news on Oracle Power
See all newsREG - AIM - AIM Notice - 25/04/2025
AnnouncementREG - Oracle Power PLC - Further Assay Results from Northern Zone Project
AnnouncementREG - Oracle Power PLC - Placing to Raise £318,600
AnnouncementREG - Oracle Power PLC - MoU for Green Hydrogen Project Renewed
AnnouncementREG - Oracle Power PLC - Blue Rock Geochemical Sampling Programme Completed
Announcement