REG - Oracle Power PLC - Northern Zone Gold Project Mining Lease Update

Oracle PowerAnnouncement

11/02/2025 07:00

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RNS Number : 5753W  Oracle Power PLC  11 February 2025

11 February 2025

Oracle Power PLC

("Oracle" or the "Company")

 

Mining Lease Application Update at the Northern Zone Gold Project

 

Oracle Power PLC (AIM:ORCP), an international project developer, is pleased to
provide an update on the Mining Lease application at the Northern Zone
Intrusive Hosted Gold Project ("Northern Zone"), which was announced on 10
December 2024.

The Resource Tenor branch of the Department of Energy, Mines, Industry
Regulation and Safety (DEMIRS) in Australia has now advised that, under
section 29 of the Native Title Act (NTA),  the Section 29 notification period
for M 25/389 ends on 29 May 2025, (the 'Section 29 Closing Date').The Mining
Lease application M25/389 is to convert Northern Zone to a Mining Lease from a
Prospecting Licence.

The future drilling campaign will be guided by a model based on the promising
drill results to date in order to advance the Northern Zone Project and
establish a mineral resource estimate.

Naheed Memon, CEO of Oracle, commented: "This is good news for upgrading the
tenement status to a Mining Lease. We have embarked on a prescriptive process
with the Government to get the tenement upgraded from a Prospecting Licence.
We have appointed lawyers to assist with NTA negotiations where necessary, and
we will provide material updates on the tenement tenure when available."

 

**ENDS**

For further information on Oracle Power Plc, visit the Company's website
http://www.oraclepower.co.uk (http://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)               +44 (0) 20 7236 1177

 Susie Geliher, Isabel de Salis

 

 

The information contained within this announcement is deemed by the Company to
constitute inside information as stipulated under the Market Abuse Regulation
(EU) No. 596/2014 as it 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.

 

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