News Insights

Oracle Power Plc has recently made significant progress in its Northern Zone Gold Project in Western Australia, evidenced by the successful booking of two drilling rigs to initiate a 1,280-meter RC drilling program aimed at deeper mineralisation exploration. This program is set to commence imminently and will follow previous successful drilling that yielded high-grade gold intercepts. Additionally, a 2,000-meter Aircore drilling campaign is planned to further test shallower mineralization. These efforts are a crucial step as Oracle coordinates with its partner, Riversgold Limited, which has exercised its option to acquire an 80% interest in the project after meeting the necessary expenditure requirements.

The company has also updated the status of its mining lease application, as the Australian Department of Energy and Mines progresses through regulatory processes. The application seeks to convert the site from a prospecting licence to a mining lease, with the Section 29 notification period concluding on May 29, 2025. As Oracle advances its exploration efforts, the upcoming drilling campaigns are aligned with expectations for further defining and expanding the mineral resource at the Northern Zone, which is underpinned by prior successful drill results, including notable intercepts of up to 12.27 g/t Au. Overall, these developments signal Oracle’s commitment to advancing its operational objectives and enhancing shareholder value through active project development.