20th May 2025 07:00
20 May 2025
Oracle Power PLC
("Oracle" or the "Company")
Northern Zone Project:
Metallurgy of Oxide Samples show +90% Gold Recovery
Final Assay Results for Recent Drilling Programme
Oracle Power PLC (AIM: ORCP), an international project developer, is pleased to announce further positive metallurgical results above 90% gold recovery, along with the final drilling results from recent drill programmes at the Northern Zone Intrusive Hosted Gold Project ("Northern Zone" or the "Project"), located 25km east of Kalgoorlie in Western Australia (refer to Figure 1 for location). This work is aimed at progressing the Project towards a maiden Mineral Resource Estimate (MRE).
Highlights:
o Metallurgical testing, using the cyanide bottle roll method, indicated gold recoveries from two oxide samples of:
- 93.67% and 90.64% (duplicate sample), a 92.16% average.
- Similar testing of three oxide samples in 2022 reported an average gold recovery of 92.9% over 24 hours.
- This indicates an overall average gold recovery from the five samples of 92.56%
o All assay results are now returned, providing a clear direction for future drilling to connect the west and east mineralised zones. Final results set out in Tables 1-3 below.
o The PoW for this drilling has been recently approved.
o An upcoming site visit is planned to review and discuss the mineralisation models on Northern Zone prepared by the consultants, Xirlatem, as the Project moves towards a maiden MRE.
Naheed Memon, CEO of Oracle, commented:
"Metallurgical testwork using cyanide bottle roll has closely replicated the original 2022 work previously reported, with all results between 90.64% and 94.7% for five samples, resulting in an average 92.56% gold recovery. This is an excellent result and bodes well for future plans to scope out potential starter pits for toll treatment. All the results are back from the recent reverse circulation and aircore drilling programmes, which illustrates the main oxide mineralisation has the potential to link the west and east mineralised zones. The structural and geological modelling being undertaken by Xirlatem, will continue the solid basis for the maiden MRE and will inform future drilling. We will continue to update shareholders as we progress the project."
Northern Zone Metallurgy Results:
As announced on 13 June 2022, three metallurgical samples were submitted to Nagrom's metallurgical laboratory in Perth, in order to determine potential gold recoveries of Northern Zone oxide material from the previous Reverse Circulation ("RC") drilling conducted by the Company in October 2021. This was undertaken by Riversgold Limited (ASX: RGL) ("Riversgold") as part of its initial due diligence. The results from the three samples showed recoveries of 91.8% and 92%, with a maximum individual recovery of 94.7% for an average recovery of 92.9% after 24 hours.
The most recent cyanide bottle roll results on RC drill hole NZRC008 (Figure 2) was undertaken by Jinnings in Perth and has shown recoveries on a single composite and duplicate sample of 93.67% and 90.64% respectively and averages 92.16%.
The overall average gold recoveries from both the 2022 and 2025 cyanide Bottle Roll tests is 92.56% which bolsters confidence in excellent metallurgy for the Northern Zone project.
Northern Zone Latest Drilling Results
The final assay results have been received for 414 samples from the final 11 vertical aircore (AC) drill holes (Tables 1-3) of the 32 hole 1,805m programme. The drill holes on the north-western side of the tenement appeared to have closed off mineralisation, however, drill holes NZAC144 and NZAC145 have intersected shallow zones of mineralisation that will require follow-up drilling.
The AC and RC programme results (see also Figures 3-4), continue to successfully intersect the mineralised host porphyry over an increasing footprint and consistently validate the broader gold mineralisation model. Further drilling will be undertaken to further the understanding of the project as it advances to a maiden MRE. The current structural analysis by Xirlatem will also assist with future targeting. The priority moving forwards is the connection of the western and eastern zones of mineralisation, over an area which has had limited drill testing. The 2025 drilling results to date have confirmed this strategy, to rapidly increase the oxide potential.
For further information on Oracle, please visit the Company's website at http://www.oraclepower.co.uk or contact:
Oracle Power PLC
Naheed Memon - CEO +44 (0) 20 3580 4314
Strand Hanson Limited (Nominated Adviser & Broker)
Rory Murphy, Matthew Chandler, Rob Patrick +44 (0) 20 7409 3494
St Brides Partners Limited (Financial PR)
Susie Geliher, Isabel de Salis +44 (0) 20 7236 1177
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 Union (Withdrawal) Act 2018, as amended by virtue of the Market Abuse (Amendment) (EU Exit) Regulations 2019.
Competent Person's Statement
The information in this announcement 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 deposit under consideration and to the activity that he is undertaking to qualify as a Competent Person as defined in the 2012 edition of the `Australasian 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 announcement.
 |
Figure 1: Northern Zone project Map showing proximity to the Kalgoorlie "Super Pit"
 |
Figure 2: Northern Zone Metallurgical information from oxide sample.
 |
Figure 3 and 4: Most significant 2025 RC and AC drill collar plan with gold grade contours from all drilling results to date.
APPENDIX 1: Drilling Information
Table 1: Northern Zone Significant Intercepts from AC drill holes
Hole ID | From (m) | To (m) | Width (m) | Au g/t | Intercept |
NZAC135 | 42 | 44 | 2 | 0.64 | 2m @ 0.64 g/t Au from 42m, NZAC135 |
NZAC136 | 46 | 47 | 1 | 1.16 | 1m @ 1.16 g/t Au from 46m, NZAC136 |
NZAC139 | 33 | 36 | 3 | 0.58 | 3m @ 0.58 g/t Au from 33m, NZAC139 |
NZAC141 | 32 | 34 | 2 | 0.62 | 2m @ 0.62 g/t Au from 32m, NZAC141 |
NZAC144 | 30 | 36 | 6 | 0.82 | 6m @ 0.82 g/t Au from 30m, NZAC144 |
including | 34 | 35 | 1 | 1.84 | Including 1m @ 1.84 g/t Au from 34m |
NZAC145 | 27 | 34 | 7 | 0.65 | 7m @ 0.65 g/t Au from 27m, NZAC145 |
including | 32 | 33 | 1 | 1.98 | Including 1m @ 1.98 g/t Au from 32m |
Table 2: Northern Zone Drill Collar Locations
Hole id | Type | MGA_E | MGA_N | Elevation (m) | Total Depth (m) | Dip (o) | AZM_MGA | Date |
NZAC135 | AC | 381647.6 | 6592651.0 | 356.6 | 59 | 0 | -90 | 27/03/2025 |
NZAC136 | AC | 381659.9 | 6592663.4 | 356.65 | 60 | 0 | -90 | 28/03/2025 |
NZAC137 | AC | 381672.2 | 6592675.7 | 356.66 | 60 | 0 | -90 | 28/03/2025 |
NZAC138 | AC | 381684.6 | 6592688.0 | 356.7 | 64 | 0 | -90 | 29/03/2025 |
NZAC139 | AC | 381563.2 | 6592662.1 | 356.88 | 49 | 0 | -90 | 29/03/2025 |
NZAC140 | AC | 381575.0 | 6592673.5 | 356.9 | 57 | 0 | -90 | 29/03/2025 |
NZAC141 | AC | 381587.2 | 6592686.1 | 356.92 | 47 | 0 | -90 | 30/03/2025 |
NZAC142 | AC | 381599.5 | 6592698.4 | 356.95 | 48 | 0 | -90 | 30/03/2025 |
NZAC143 | AC | 381612.0 | 6592710.9 | 356.97 | 49 | 0 | -90 | 31/03/2025 |
NZAC144 | AC | 381624.2 | 6592723.4 | 357 | 49 | 0 | -90 | 30/03/2025 |
NZAC145 | AC | 381636.6 | 6592735.6 | 356.85 | 47 | 0 | -90 | 30/03/2025 |
Table 3: Northern Zone assay results above 0.3 g/t Au from AC drill holes
Hole ID | Depth From | Depth To | Width | Au ppm |
NZAC135 | 42 | 43 | 1 | 0.98 |
NZAC136 | 34 | 35 | 1 | 0.48 |
NZAC136 | 46 | 47 | 1 | 1.16 |
NZAC137 | 31 | 32 | 1 | 0.41 |
NZAC137 | 39 | 40 | 1 | 0.64 |
NZAC138 | 43 | 44 | 1 | 0.61 |
NZAC139 | 33 | 34 | 1 | 0.50 |
NZAC139 | 34 | 35 | 1 | 0.97 |
NZAC141 | 32 | 33 | 1 | 0.81 |
NZAC141 | 33 | 34 | 1 | 0.42 |
NZAC141 | 42 | 43 | 1 | 0.55 |
NZAC144 | 30 | 31 | 1 | 1.23 |
NZAC144 | 32 | 33 | 1 | 0.75 |
NZAC144 | 33 | 34 | 1 | 0.63 |
NZAC144 | 34 | 35 | 1 | 1.84 |
NZAC144 | 35 | 36 | 1 | 0.41 |
NZAC145 | 27 | 28 | 1 | 0.32 |
NZAC145 | 28 | 29 | 1 | 0.86 |
NZAC145 | 29 | 30 | 1 | 0.43 |
NZAC145 | 32 | 33 | 1 | 1.98 |
NZAC145 | 33 | 34 | 1 | 0.68 |
APPENDIX 2: JORC INFORMATION
The following Tables are provided to ensure compliance with the JORC Code (2012 Edition) requirements for the reporting of Exploration Results at Northern Zone.
Section 1: Sampling Techniques and Data
(Criteria in this section applies to all succeeding sections)
Criteria | JORC Code explanation | Commentary |
Sampling techniques | Nature and quality of sampling (eg cut channels, random chips, or specific specialised industry standard measurement tools appropriate to the minerals under investigation, such as down hole gamma sondes, or handheld XRF instruments, etc). These examples should not be taken as limiting the broad meaning of sampling. Include reference to measures taken to ensure sample representivity and the appropriate calibration of any measurement tools or systems used. Aspects of the determination of mineralisation that are Material to the Public Report. In cases where 'industry standard' work has been done this would be relatively simple (eg 'reverse circulation drilling was used to obtain 1 m samples from which 3 kg was pulverised to produce a 30 g charge for fire assay'). In other cases, more explanation may be required, such as where there is coarse gold that has inherent sampling problems. Unusual commodities or mineralisation types (eg submarine nodules) may warrant disclosure of detailed information. | Metallurgy sample was selected from recent RC drilling reported to the ASX on 19 March 2025.
Every Aircore metre drilled was placed on the ground. 6m composites were collected using a scoop method of sampling the coarse reject sample for the first 24m. 1m sampling using a rifle splitter was trialed on the clays, from 24m, with sampling deemed to create a high degree risk of smearing. The clays are not wet, but have a damp characteristic. A large metal scoop was used to sample between 70-90% of material from each metre drilled, to total between 2-3kg samples. Standard reference material, sample duplicates and blanks, were undertaken at 25m sample intervals. Samples were sent to the laboratory for crushing, splitting and analysis. Analysis was undertaken by Jinnings laboratories (Kalgoorlie) for gold assay by 50g fire assay.
|
Drilling techniques | Drill type (eg core, reverse circulation, open-hole hammer, rotary air blast, auger, Bangka, sonic, etc) and details (eg core diameter, triple or standard tube, depth of diamond tails, face-sampling bit or other type, whether core is oriented and if so, by what method, etc). | Australian Aircore Drilling completed the programme using a blade to refusal.
Metallurgy sample was from Reverse Circulation drilling. |
Drill sample recovery | Method of recording and assessing core and chip sample recoveries and results assessed. Measures taken to maximise sample recovery and ensure representative nature of the samples. Whether a relationship exists between sample recovery and grade and whether sample bias may have occurred due to preferential loss/gain of fine/coarse material. | Drill recovery was routinely recorded via estimation of the comparative percentage of the volume of the sample bag by the company geologist. The sample recovery was deemed excellent for representative assays. The cyclone was cleaned or checked every 6m. To be noted, is that there is no active water table and all samples are dry, making estimates of recovery easier as samples remain the same size. |
Logging | Whether core and chip samples have been geologically and geotechnically logged to a level of detail to support appropriate Mineral Resource estimation, mining studies and metallurgical studies. Whether logging is qualitative or quantitative in nature. Core (or costean, channel, etc) photography. The total length and percentage of the relevant intersections logged. | All holes have been geologically logged for lithology, mineralisation and weathering. As well as whether dry, damp or wet. Logging is quantitative for presence of quartz veins. All other logging is qualitative. A brief description of each drilling sample was recorded and a permanent record has been collected and stored in chip trays for reference. |
Sub-sampling techniques and sample preparation | If core, whether cut or sawn and whether quarter, half or all core taken. If non-core, whether riffled, tube sampled, rotary split, etc and whether sampled wet or dry. For all sample types, the nature, quality and appropriateness of the sample preparation technique. Quality control procedures adopted for all sub-sampling stages to maximise representivity of samples. Measures taken to ensure that the sampling is representative of the in-situ material collected, including for instance results for field duplicate/second-half sampling. Whether sample sizes are appropriate to the grain size of the material being sampled. | 1m sampling using a rifle splitter was trialed on the clays, from 24m, with sampling deemed to create a high degree risk of smearing. The clays are not wet but have a damp characteristic. A large metal scoop was used to sample between 70-90% of material from each metre drilled, to total between 2-3kg samples. Standard reference material, sample duplicates and blanks, were undertaken at 25m sample intervals. Samples were sent to the laboratory for crushing, splitting and analysis. The use of fire assay with 50g charge for all AC drilling provides a level of confidence in the assay database. The sampling and assaying are considered representative of the in-situ material. The sample size of 2-3 kilograms is appropriate and representative of the grain size and mineralisation style of the deposit.
|
Quality of assay data and laboratory tests | The nature, quality and appropriateness of the assaying and laboratory procedures used and whether the technique is considered partial or total. For geophysical tools, spectrometers, handheld XRF instruments, etc, the parameters used in determining the analysis including instrument make and model, reading times, calibrations factors applied and their derivation, etc. Nature of quality control procedures adopted (eg standards, blanks, duplicates, external laboratory checks) and whether acceptable levels of accuracy (ie lack of bias) and precision have been established. | Jinnings (Kalgoorlie) were used for all analysis of drill samples submitted by Riversgold. The laboratory techniques below are for all samples submitted to Jinnings and are considered appropriate for the style of mineralisation defined within the Northern Zone Project area: Samples above 3Kg were riffle split. Pulverise to 95% passing 75 microns 50-gram Fire Assay (FA50A) - Au Duplicates, Standards and Blanks were used for external laboratory checks by RGL
SCHEME LWL1000 A 1000g charge is leached using LeachWell Assay TabsTM under manufacturers specified leach conditions. The resultant liquor is analysed for gold to determine cyanide soluble gold content, using 50-gram Fire Assay (FA50A) |
Verification of sampling and assaying | The verification of significant intersections by either independent or alternative company personnel. The use of twinned holes. Documentation of primary data, data entry procedures, data verification, data storage (physical and electronic) protocols. Discuss any adjustment to assay data. | Intercepts were reviewed by 2 company personnel. |
Location of data points | Accuracy and quality of surveys used to locate drill holes (collar and down-hole surveys), trenches, mine workings and other locations used in Mineral Resource estimation. Specification of the grid system used. Quality and adequacy of topographic control. | The collar position of each hole has been marked out with a Garmin Inreach Explorer+ hand held GPS, and will be picked up by Spectrum Surveys (Kalgoorlie) using a DGPS. |
Data spacing and distribution | Data spacing for reporting of Exploration Results. Whether the data spacing and distribution is sufficient to establish the degree of geological and grade continuity appropriate for the Mineral Resource and Ore Reserve estimation procedure(s) and classifications applied. Whether sample compositing has been applied. | The holes were drilled on a nominal Northeast-Southwest 20m spacing on traverses 15-20m apart. |
Orientation of data in relation to geological structure | Whether the orientation of sampling achieves unbiased sampling of possible structures and the extent to which this is known, considering the deposit type. If the relationship between the drilling orientation and the orientation of key mineralised structures is considered to have introduced a sampling bias, this should be assessed and reported if material. | Based on logging of diamond core the drill holes appear to be orientated perpendicular to strike and dip of the main mineralised structures. An interpreted fault though the middle of the mineralisation may have caused some displacement. |
Sample security | The measures taken to ensure sample security. | Company personnel delivered samples to Jinnings Kalgoorlie where they were submitted for assay. |
Audits or reviews | The results of any audits or reviews of sampling techniques and data. | Data reviews will be conducted on completion of further drilling |
Section 2: Reporting of Exploration Results
(Criteria listed in the preceding section also apply to this section)
Criteria | JORC Code explanation | Commentary |
Sampling techniques | Nature and quality of sampling (eg cut channels, random chips, or specific specialised industry standard measurement tools appropriate to the minerals under investigation, such as down hole gamma sondes, or handheld XRF instruments, etc). These examples should not be taken as limiting the broad meaning of sampling. Include reference to measures taken to ensure sample representivity and the appropriate calibration of any measurement tools or systems used. Aspects of the determination of mineralisation that are Material to the Public Report. In cases where 'industry standard' work has been done this would be relatively simple (eg 'reverse circulation drilling was used to obtain 1 m samples from which 3 kg was pulverised to produce a 30 g charge for fire assay'). In other cases, more explanation may be required, such as where there is coarse gold that has inherent sampling problems. Unusual commodities or mineralisation types (eg submarine nodules) may warrant disclosure of detailed information. | Metallurgy sample was selected from recent RC drilling reported to the ASX on 19 March 2025.
Every Aircore metre drilled was placed on the ground. 6m composites were collected using a scoop method of sampling the coarse reject sample for the first 24m. 1m sampling using a rifle splitter was trialed on the clays, from 24m, with sampling deemed to create a high degree risk of smearing. The clays are not wet, but have a damp characteristic. A large metal scoop was used to sample between 70-90% of material from each metre drilled, to total between 2-3kg samples. Standard reference material, sample duplicates and blanks, were undertaken at 25m sample intervals. Samples were sent to the laboratory for crushing, splitting and analysis. Analysis was undertaken by Jinnings laboratories (Kalgoorlie) for gold assay by 50g fire assay.
|
Drilling techniques | Drill type (eg core, reverse circulation, open-hole hammer, rotary air blast, auger, Bangka, sonic, etc) and details (eg core diameter, triple or standard tube, depth of diamond tails, face-sampling bit or other type, whether core is oriented and if so, by what method, etc). | Australian Aircore Drilling completed the programme using a blade to refusal.
Metallurgy sample was from Reverse Circulation drilling. |
Drill sample recovery | Method of recording and assessing core and chip sample recoveries and results assessed. Measures taken to maximise sample recovery and ensure representative nature of the samples. Whether a relationship exists between sample recovery and grade and whether sample bias may have occurred due to preferential loss/gain of fine/coarse material. | Drill recovery was routinely recorded via estimation of the comparative percentage of the volume of the sample bag by the company geologist. The sample recovery was deemed excellent for representative assays. The cyclone was cleaned or checked every 6m. To be noted, is that there is no active water table and all samples are dry, making estimates of recovery easier as samples remain the same size. |
Logging | Whether core and chip samples have been geologically and geotechnically logged to a level of detail to support appropriate Mineral Resource estimation, mining studies and metallurgical studies. Whether logging is qualitative or quantitative in nature. Core (or costean, channel, etc) photography. The total length and percentage of the relevant intersections logged. | All holes have been geologically logged for lithology, mineralisation and weathering. As well as whether dry, damp or wet. Logging is quantitative for presence of quartz veins. All other logging is qualitative. A brief description of each drilling sample was recorded and a permanent record has been collected and stored in chip trays for reference. |
Sub-sampling techniques and sample preparation | If core, whether cut or sawn and whether quarter, half or all core taken. If non-core, whether riffled, tube sampled, rotary split, etc and whether sampled wet or dry. For all sample types, the nature, quality and appropriateness of the sample preparation technique. Quality control procedures adopted for all sub-sampling stages to maximise representivity of samples. Measures taken to ensure that the sampling is representative of the in-situ material collected, including for instance results for field duplicate/second-half sampling. Whether sample sizes are appropriate to the grain size of the material being sampled. | 1m sampling using a rifle splitter was trialed on the clays, from 24m, with sampling deemed to create a high degree risk of smearing. The clays are not wet, but have a damp characteristic. A large metal scoop was used to sample between 70-90% of material from each metre drilled, to total between 2-3kg samples. Standard reference material, sample duplicates and blanks, were undertaken at 25m sample intervals. Samples were sent to the laboratory for crushing, splitting and analysis. The use of fire assay with 50g charge for all AC drilling provides a level of confidence in the assay database. The sampling and assaying are considered representative of the in-situ material. The sample size of 2-3 kilograms is appropriate and representative of the grain size and mineralisation style of the deposit.
|
Quality of assay data and laboratory tests | The nature, quality and appropriateness of the assaying and laboratory procedures used and whether the technique is considered partial or total. For geophysical tools, spectrometers, handheld XRF instruments, etc, the parameters used in determining the analysis including instrument make and model, reading times, calibrations factors applied and their derivation, etc. Nature of quality control procedures adopted (eg standards, blanks, duplicates, external laboratory checks) and whether acceptable levels of accuracy (ie lack of bias) and precision have been established. | Jinnings (Kalgoorlie) were used for all analysis of drill samples submitted by Riversgold. The laboratory techniques below are for all samples submitted to Jinnings and are considered appropriate for the style of mineralisation defined within the Northern Zone Project area: Samples above 3Kg were riffle split. Pulverise to 95% passing 75 microns 50-gram Fire Assay (FA50A) - Au Duplicates, Standards and Blanks were used for external laboratory checks by RGL
SCHEME LWL1000 A 1000g charge is leached using LeachWell Assay TabsTM under manufacturers specified leach conditions. The resultant liquor is analysed for gold to determine cyanide soluble gold content, using 50-gram Fire Assay (FA50A) |
Verification of sampling and assaying | The verification of significant intersections by either independent or alternative company personnel. The use of twinned holes. Documentation of primary data, data entry procedures, data verification, data storage (physical and electronic) protocols. Discuss any adjustment to assay data. | Intercepts were reviewed by 2 company personnel. |
Location of data points | Accuracy and quality of surveys used to locate drill holes (collar and down-hole surveys), trenches, mine workings and other locations used in Mineral Resource estimation. Specification of the grid system used. Quality and adequacy of topographic control. | The collar position of each hole has been marked out with a Garmin Inreach Explorer+ hand held GPS, and will be picked up by Spectrum Surveys (Kalgoorlie) using a DGPS. |
Data spacing and distribution | Data spacing for reporting of Exploration Results. Whether the data spacing and distribution is sufficient to establish the degree of geological and grade continuity appropriate for the Mineral Resource and Ore Reserve estimation procedure(s) and classifications applied. Whether sample compositing has been applied. | The holes were drilled on a nominal Northeast-Southwest 20m spacing on traverses 15-20m apart. |
Orientation of data in relation to geological structure | Whether the orientation of sampling achieves unbiased sampling of possible structures and the extent to which this is known, considering the deposit type. If the relationship between the drilling orientation and the orientation of key mineralised structures is considered to have introduced a sampling bias, this should be assessed and reported if material. | Based on logging of diamond core the drill holes appear to be orientated perpendicular to strike and dip of the main mineralised structures. An interpreted fault though the middle of the mineralisation may have caused some displacement. |
Sample security | The measures taken to ensure sample security. | Company personnel delivered samples to Jinnings Kalgoorlie where they were submitted for assay. |
Audits or reviews | The results of any audits or reviews of sampling techniques and data. | Data reviews will be conducted on completion of further drilling |
Related Shares:
Oracle Power