11th Apr 2025 18:09
(Alliance News) - Oracle Power PLC on Friday said new assay results continue to confirm high-grade gold intercepts at its c Zone project in Western Australia, with further sample results expected in the coming weeks.
The company reported results from the final four angled reverse circulation holes of an 11-hole programme at the gold project, 25 kilometres east of Kalgoorlie. All holes intersected gold mineralisation.
Highlights included 18 metres at 1.94 grams per tonne gold from 49 metres, including three metres at 8.20 g/t in hole NZRC016, and 11 metres at 1.38 g/t from 80 metres in NZRC015. Hole NZRC017 returned 14 metres at 0.72 g/t from 41 metres, including three metres at 2.60 g/t.
The company said it has submitted 1,303 samples from a separate 1,805-metre vertical drill programme targeting oxide mineralisation, with results expected soon.
Oracle said the results will be used to update its Leapfrog gold model, which will guide future drill planning. The company is working toward a maiden mineral resource estimate for the project.
Chief Executive Officer Naheed Memon said: "The results continue to complement previous drill programmes, and we continue to increase the footprint of the gold mineralisation, revealing good gold tenor within the shallower top of this considerable mineralised porphyry."
Shares in Oracle Power closed 2.3% at 0.022 pence in London on Friday afternoon.
By Eva Castanedo, Alliance News reporter
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