REG - Oracle Power PLC - Survey Finds Targets at Blue Rock Copper Project

Oracle PowerAnnouncement

29/10/2024 07:00

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RNS Number : 9454J  Oracle Power PLC  29 October 2024

29 October 2024

Oracle Power PLC

("Oracle" or the "Company")

 

Gravity Survey Identifies Targets at High-Grade Blue Rock Copper Valley
Project in Australia

 

Oracle Power PLC (AIM:ORCP), an international project developer, is pleased to
announce that a ground based gravity survey has been completed at the Blue
Rock Valley Copper and Silver Project (the "Project"), located in the
Ashburton Basin in the northwest region of Western Australia.

The gravity survey covered the central portion of outcrop with known copper
mineralisation and Versatile Time Domain Electromagnetic (VTEM) anomalies,
Figures 3-5. The survey has identified multiple gravity highs along the Blue
Rock Valley trend for potential drilling, to test for further potential copper
mineralisation. The weaker response in the gravity data where previous
drilling and samples were taken is assumed to be a result of this portion of
the copper mineralisation being mined in the 1960s. The Company is now
assessing whether to undertake geochemical sampling or look to drill test
targets and a further announcement will be made in due course.

Highlights:

·    Blue Rock Valley high-grade rock chip and grab samples as announced
on 12 July 2024 grading:

o  18.21 % Copper, OBR001

o  12.34 % Copper, OBR002 (refer to Figure 1)

o  25.70 % Copper, OBR003

o  8.56 % Copper, OBR004

o  10.08 % Copper, OBR005

 

·    Samples confirmed the historical tenure of copper mineralisation.

·    A ground gravity survey has now been completed over copper
mineralisation and VTEM anomalies.

·    Multiple targets have been identified by the ground gravity survey
for follow up work along the Blue Rock Valley trend of approximately2km of
strike the survey covered.

 

Naheed Memon, CEO of Oracle, commented: "I am very excited  to see positive
results from the gravity survey and announce that we have gravity anomalies to
follow up along Blue Rock Valley trend with a strike of approximately 2km.
There are also gravity anomalies associated with the VTEM anomalies. The
Company will now consider whether to undertake geochemical sampling or look to
drill test targets."

 

For further information contact:

 

 Oracle Power PLC                                        +44 (0) 20 7236 1177

 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

 Isabel de Salis, Susie Geliher

 

 

 

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 (Withdrawal) Act 2018, as amended.

 

Competent Person's Statement

The Information in this report 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
`Australian 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 report.

Figure 1: Photo of Rich Copper Oxide Sample taken from Historical Trench next
to Historical Shaft at Blue Rock Valley. Sample OBR 002 assayed 12.34% Copper

 

Figure 2: Blue Rock Valley project location and access

 

 

Figure 3: Project Tenement Plan with area of gravity survey shown in red box

Figure 4: Zoomed in gravity survey results over the immediate Blue Rock Valley
known mineralisation with 1VD Bouguer Gravity anomalies highlighted in red
circles

Figure 5: 1VD Bouguer Gravity with VTEM anomalies and red circle for Blue Rock
Valley anomalism

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