Oracle Power PLC Exploration Commences - Northern Zone Gold Project (8407G)
2020年11月30日 - 4:00PM
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TIDMORCP
RNS Number : 8407G
Oracle Power PLC
30 November 2020
30 November 2020
Oracle Power PLC
("Oracle" or the "Company")
Field Based Exploration Work Commences at Northern Zone Gold
Project, Western Australia
Oracle Power PLC, the AIM listed international natural resource
and power project developer (AIM:ORCP), is pleased to announce
that, further to the Company's announcement of 16 November 2020, it
has commenced field based exploration work at the Northern Zone
Gold Project located in the Kalgoorlie region of Western Australia.
The Northern Zone Prospect is located 25km east of the major gold
mining centre of Kalgoorlie, the home of Super Pit, the second
largest gold mine in Australia.
The multi-faceted field-based exploration programme aims to:
o acquire high resolution imagery and digital terrain model of
entire the project area;
o conduct orientation MMI/Enzyme Leach geochemical survey lines
in order to refine the targeting model applied to test the gold and
nickel potential;
o refine drill targeting in advance of a maiden drilling
campaign planned in early 2021; and
o assess proximal infrastructure to assist with the evaluation
of potential further development activities.
The main host for potential gold mineralisation is the
auriferous veins in granitic intrusions in the N-S structural
corridor. However, the northern portion is covered by deep
transported material up to 70m thick, making geochemical detection
of mineralisation difficult and requiring drilling.
Multiple significant drill intercepts for gold have been
reported across Northern Zone from historical drill programmes
conducted by Northern Mining Limited, with some of the more notable
intercepts including (as previously announced):
-- 9m @ 5.06 grammes per tonne gold ("g/t Au") - hole
BNRC017
-- 1m @ 39.82 g/t Au - hole BNRC033
-- 2m @ 23.27 g/t Au and 40m @1.2 g/t Au - hole BNRC069
-- 6m @2.12 g/t Au and 2m @ 12.98 g/t Au - hole BNRC051
-- 3m @3.72 g/t Au - hole BNRC067
-- 30m @ 1.5 g/t Au - hole BNRC081
-- 217m @0.51 g/t Au - hole BNRC066
-- 10m @ 2.1 g/t Au - hole BNRC079
-- 6m @2.31 g/t Au and 3m @ 2.85 g/t Au - hole BNRC080
-- 28m @ 0.84g/t Au and 48m @ 1.65g/t Au (including 4m at 7.7g/t
Au) - hole BNRC095
Previous drilling at Northern Zone also recorded very
significant results for nickel, with some of the more notable
intercepts including:
-- 10m @ 1.07% nickel ("Ni") - hole BNRC012
-- 21m @ 1.09% Ni - hole BNR0142
-- 4m @ 1.33% Ni - hole BNRC012
-- 4m @ 1.16% Ni - hole BNRO146
Naheed Memon, CEO of Oracle, commented :
"To have commenced exploration activities on the Northern Zone
Project near Kalgoorlie, only two weeks after acquiring this asset
is an excellent effort from our geological consultants in Australia
and underscores our commitment to demonstrating the resource
potential of this highly prospective asset in as short timeframe as
practicable. Historical work has highlighted both the gold and
nickel potential of this exciting project, and this field-based
exploration programme aims to provide the requisite data inputs
required to plan a detailed drilling campaign in H1 2021. We look
forward to providing further updates to the market with respect to
the evaluation of Northern Zone and Jundee East as significant
findings become available."
*ENDS*
For further information on Oracle Power Plc, visit the Company's
website http://www.oraclepower.co.uk or contact:
Oracle Power PLC +44 (0) 203 580
Naheed Memon 4314
Strand Hanson Limited (Nominated Adviser) +44 (0) 20 7409
Rory Murphy, James Harris, Jack Botros 3494
Brandon Hill Capital Limited (Joint
Broker) +44 (0) 203 463
Oliver Stansfield 5000
Shard Capital (Joint Broker)
Damon Heath +44 (0) 20 7186
Isabella Pierre 9952
St Brides Partners Limited (Financial
PR)
Susie Geliher +44 (0) 20 7236
Catherine Leftley 1177
About Oracle Power PLC:
Oracle Power PLC is an international power and natural resource
project developer listed on London's AIM market. The Company is
focussed on delivering reliable and affordable power in emerging
developing markets, unlocking the value of underutilised and
undeveloped natural resources to provide energy security and
support economic growth and development. Its initial project is the
Thar Block VI Project in the Thar desert in the south-east of the
Sindh province of Pakistan. The Thar Project is a 66.1 sq km
licence containing 1.4 billion tonnes of coal, where the Company,
in tandem with its partners China National Coal Development Company
Ltd. (CNCDC) and the private office of His Highness Sheikh Ahmed
Bin Dalmook Juma Al Maktoum, is advancing a combined lignite coal
mine, a 1,320MW mine mouth power plant and a proposed coal
gasification to urea project.
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