Oracle Power PLC Northern Zone Site Visit, Western Australia

RNS Number : 4820B

Oracle Power PLC

23 August 2024

 

23 August 2024

Oracle Power PLC

("Oracle" or the "Company")

Northern Zone Project Site Visit, Western Australia

Oracle Power PLC (AIM: ORCP), an international project developer, is pleased to announce a site visit update in respect of its Northern Zone Intrusive Hosted Gold Project in Western Australia (the "Northern Zone Project" or the "Project").

 

Last week, Oracle's Non-Executive Director, David Hutchins, along with the Company's senior geological consultant, Ed Mead, conducted a site visit to the Northern Zone Project. This visit was scheduled to review progress at the Project, where ASX-listed Riversgold Limited ("Riversgold") is now nearing fulfilment of its earn-in expenditure obligations and collating and interpreting assay results from its latest drill programme, which are expected to be finalised for release in the near term.

 

The Northern Zone Project is situated 25 kilometres east of Kalgoorlie, the heart of Western Australia's gold mining industry. As evident from the pictures below, the site is easily accessible via a major paved road from Kalgoorlie, followed by a well-maintained graded bush road leading directly to the property. The terrain is typical of Australia's flat bushland, with sparse native vegetation.

 

The Northern Zone Project is being advanced with Riversgold, which has the right to earn up to an 80% interest in the tenement, as detailed in the Company's announcement of 9 May 2023. The 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 million oz to 4.8 million oz of gold, as announced by Riversgold on the ASX on 9 May 2023.

 

Naheed Memon, CEO of Oracle, commented: "We are delighted that David has recently had the opportunity to visit the Northern Zone Project site, at an important time for the project. He reviewed ongoing exploration activities, and preparation of sample bags at the site of drill hole NZRC001, which has previously recorded a significant intercept of 18m at 4.14 g/t Au from 36m depth. Riversgold, continues to make good progress at the Project, with the forthcoming assay results from infill drilling expected to further expand this large porphyry system."

 

 

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For further information, visit www.oraclepower.co.uk or contact:

Oracle Power PLC
Naheed Memon - CEO	[phone]
St Brides Partners Limited (Financial PR)
Susie Geliher, Isabel de Salis	[e-mail]

 

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