TIDMORCP
RNS Number : 0922K
Oracle Power PLC
31 August 2021
31 August 2021
Oracle Power PLC
("Oracle", the "Company")
Drill Target Areas Defined at Jundee East Gold Project,
Australia
Jundee East is located 7km due east of the Jundee Gold Mine
Oracle Power PLC (AIM:ORCP), the international natural resources
project developer, is pleased to announce that further highly
positive geochemical sampling results have defined five drill
target areas at its 100% owned Jundee East Gold Project, located in
the Eastern Goldfields region of Western Australia ("Jundee East"
or the "Project"), which is located 7km due east of Northern Star's
Jundee Gold Mine (Figure 1).
Highlights :
-- Geochemical soil sampling programme over the majority of
Jundee East highlights positive responses for copper and gold using
the Ionic Leach(TM) (Ionic Leach) geochemical technique designed to
identify mineralisation below cover.
-- These further positive results show that indicator elements
(including gold and copper) are mobilising to surface at an atomic
level above the target area which further supports the potential of
a mineralised system in a previously unrecognised greenstone belt,
proximal to Northern Star's producing Jundee Gold Mine, which has a
current Resource of 5.4Moz
-- The programme has successfully defined five large target
zones (Figure 2) which are now essentially "drill ready" for first
pass testing, with a programme currently being developed.
Naheed Memon, CEO of Oracle, commented :
" Further positive results from the expanded soil geochemistry
programme has defined five large target zones for drilling. The
technical team is designing a drill programme and we will commence
drilling as soon as we have an approved programme of work and can
then confirm rig availability. "
Click on, or paste the following link into your web browser, to
view the associated PDF document with pictures included:
http://www.rns-pdf.londonstockexchange.com/rns/0922K_1-2021-8-30.pdf
Geochemical sampling results discussion:
Following the success of the three-line orientation Mobile Metal
Ion ("MMI") geochemical surface soil survey, a geochemical
programme covering almost the entire tenement has been completed at
Jundee East. This programme utilised the Ionic Leach technique
which is a refinement of the MMI technique used previously. A total
of 884 Ionic samples were collected on lines 400m apart and at 200m
spacing intervals (Figure 3).
The geochemical responses (Figures 4-9) show numerous linears or
trends with strong agreement with trends and features within the
geophysical data of the granitic and greenstone basement, and this
strongly suggests the geochemical responses are reflecting basement
geochemical character.
The areas targeted show responses greater than the 95(th)
percentile and could be termed "anomalous", but given the depth of
burial it is felt more appropriate to consider the areas as
"significant", and that warrant follow up with drilling.
The interpreted geochemical linears (Figure 2) shown are
inferred to relate to zonal trends or to some unknown factor
limiting the extent of responses.
Target 1 Occurs in and around intersection of several
geophysical linears with strong responses in Au, Ag, Cu, and
exploration Indices, both raw and response ratio (RR)
Target 2 Coherent elevated Au raw and RR response within zone
that geophysics suggests is more mafic sequence.
Target 3 Elevated responses in RR components of Au and Ag.
Target 4 Elevated responses in Ag RR in association with the
inferred porphyry intrusive body on margins of batholith.
Target 5 Elevated responses in Au, Ag and Cu plus indices with
structures but downgraded due to being within saline drainage
system which can influence results.
A drilling proposal and budget will be prepared for Board
consideration in the near future.
About MMI and Ionic Leach(TM) :
Ionic Leach is a proprietary surface geochemical technique
designed to detect metal ion anomalism through transported
cover.
The Ionic Leach technique was chosen over MMI due to the lower
detection limits for most elements and the quicker turnaround of
results. The results for both techniques were merged; the raw
results show some differences but the response ratio data show
closer correlation as they are treated separately.
Ionic Leach and MMI are innovative analytical processes that
uses a unique approach to the analysis of metals in soils and
related materials. Target elements are extracted using weak
solutions which detach and hold metal ions that were loosely bound
to soil particles by weak atomic forces in aqueous solution. This
extraction does not dissolve the bound forms of the metal ions.
Thus, the metal ions in the solutions are the chemically active or
'mobile' component of the sample. Because these mobile, loosely
bound complexes are in very low concentrations, measurement is by
conventional ICP-MS. This allows us to report very low detection
limits.
These techniques have the following advantages:
-- Few false anomalies
-- Focused, sharp anomalies
-- Excellent repeatability
-- Definition of metal zones and associations
-- Detection of deeply buried mineralisation
-- Low background values (low noise)
-- Low limits of detection
The Ionic technique provides analysis of 61 elements and MMI 53
elements covering base metals, pathfinder elements, major elements
and rare earths. This allows the generation of exploration Indices
which are a combination of multiple elements to be used to generate
target areas showing similarity to known deposits. The data is
usually viewed after ratioing the analytical value to the
calculated background: known as the Response Ratio - RR; this is
especially useful when dealing with variable regolith with the
project area.
The plots show Au, Cu and Ag in both formats with Au & Cu
showing considerable correlation: Ag shows significantly better
correlation with Cu within the RR data.
The AAC Index, which is the principal geochemist's IP, has been
found to be effective worldwide in defining prospective zones; it
is an exploration index developed based on empirical evidence of
Au, As and Cu being inherent constituents of Archean mineralised
shear zone systems. The Chi additive index was developed by the
CSIRO to define the regional halo to mineralisation throughout the
Yilgarn using the pathfinder elements As, Ag, Bi, Mo, Sb, Sn &
W in lateritic media. The Pathfinder Index contains a similar suite
of elements being Ag, As, Mo, Sb, Sn, Tl and W within a
multiplicative index; Bi, Hg, Se and Te were omitted due to
conflicts in detection limits between the two analytical
techniques. This is simply a modification of the Chi Index to
introduce other pathfinder elements typically present in Archean
systems.
Partial leach geochemistry has worked very effectively at Jundee
East, with coherent areas identified for drill evaluation.
About the Jundee East Project :
The Jundee East Project is comprised of one exploration licence
(E53/2140) and located 7km due east of the Jundee Gold Mine, Figure
1. The area of the Project is 29 blocks (90km(2) ). The Project is
located within the Yandal Gold Province, a Tier 1 gold belt, host
to numerous multi-million-ounce gold systems.
The Jundee East project represents a previously unrecognised
greenstone belt (Figure 2) proximal to the producing Jundee Gold
Mine, which has a current resource of 5.4Moz gold.
Competent Persons Statement
The information in this announcement that relates to Exploration
Results and Exploration Targets is based on information compiled or
reviewed by Allan Younger, who is a Member of the Australasian
Institute of Mining and Metallurgy. Mr Younger is an consultant to
the company. Mr Younger has sufficient experience that is relevant
to the style of mineralisation and type of deposit under
consideration and to the activity which he is undertaking to
qualify as a Competent Person as defined in the 2012 Edition of the
'Australasian Code for Reporting of Exploration Results, Mineral
Resources and Ore Reserves'.
Mr Younger consents to the inclusion in the announcement of the
matters based on his information in the form and context in which
it appears.
*S*
For further information on Oracle Power Plc, visit the Company's
website http://www.oraclepower.co.uk or contact:
Oracle Power PLC
Naheed Memon - CEO +44 (0) 203 580 4314
Strand Hanson Limited (Nominated Adviser)
Rory Murphy, James Harris, Rob Patrick +44 (0) 20 7409 3494
Brandon Hill Capital Limited (Joint Broker)
Oliver Stansfield +44 (0) 203 463 5000
Shard Capital (Joint Broker)
Damon Heath, Isabella Pierre +44 (0) 20 7186 9952
St Brides Partners Limited (Financial PR)
Susie Geliher, Catherine Leftley +44 (0) 20 7236 1177
About Oracle Power PLC:
Oracle Power PLC is an international natural resource and power
project developer quoted on London's AIM market. The Company holds
two highly prospective gold assets in two globally significant gold
regions of Western Australia. The Northern Zone Project is located
25km east of the major gold mining centre of Kalgoorlie, the home
of the 'Super Pit' mine, the second largest gold mine in Australia,
and the Jundee East Gold Project is located 9km east of Northern
Star's Jundee Gold Mine, one of Australia's largest gold mines.
The Company's initial project is the Thar Block VI Project in
the Thar desert in the south-east of the Sindh province of Pakistan
where the Company is advancing plans for a combined lignite coal
mine, a 1,320MW mine mouth power plant and a proposed coal
gasification to urea project.
JORC Code, 2012 Edition - Table 1
SECTION 1 SAMPLING TECHNIQUES AND DATA
(Criteria in this section apply to all succeeding sections.)
Sampling
techniques * The Mobile Metal Ion (MMI) and Ionic Leach soil
programs were sampled by hand with steel shovel and
plastic scoops. A total of 82 plus 883 samples were
collected.
* The depth of the samples taken varied between 20 to
30cm.
* Samples were sieved through -2mm mesh for MMI and
-4mm for Ionic.
* Sample weights were approximately 300g (+/- 50g).
* 3 lines of samples on a nominal 250m x 250m grid was
collected across the tenement for the MMI and on
lines 400m apart and samples at 200m intervals for
the Ionic.
* Samples were sent to SGS Laboratories in Perth for
MMI analysis and to ALS Global for the Ionic Leach.
Drilling
techniques * No drilling has been completed on the tenement and is
not being reported.
Drill sample
recovery * No drilling has been completed on the tenement and is
not being reported.
Logging
* No drilling has been completed on the tenement and is
not being reported.
Sub-sampling
techniques * No drilling undertaken or reported.
and
sample
preparation * Samples are collected from the soil profile, and
stored in industry standard geochem bags (as per
Greatland and SGS soil sampling protocols).
* No further sample preparation is undertaken at the
SGS or ALS Global Laboratories prior to analysis.
* 50g aliquots are taken from the samples for MMI
analysis.
* 250gm aliquots were used in Ionic Leach.
* The sample sizes are considered appropriate for the
targeted mineralisation style.
* Based on the sample type and analytical technique, no
sub- sampling has been performed.
Quality of
assay * The sampling and assay techniques for both methods
data and are industry standard.
laboratory
tests
* MMI - SGS Perth Laboratory. Target mobile elements
are extracted from the samples using a multi-element
leaching process. Analysis was received for the
following elements (in parts per billion (ppb)): Ag,
As, Au, Ba, Bi, Cd, Ce, Co, Cr, Cs, Cu, Dy, Er, Eu,
Ga, Gd, Hg, In, La, Li, Mn, Mo, Nb, Nd, Ni, Pb, Pd,
Pr, Pt, Rb, Sb, Sc, Sm, Sn, Sr, Ta, Tb, Te, Th, Ti,
Tl, U, W, Y, Yb, Zn, Zr. Analysis was received for
the following elements (in parts per million (ppm)):
Al, Ca, Fe, K, Mg, P.
* Industry standard collection procedures were utilised
for the MMI soil survey
* QAQC - internal laboratory repeats, standards and
blanks have been undertaken. Results indicate
analysis is of acceptable quality for the assays
being reported.
* Ionic Leach - ALS Global Perth Laboratory. Target
mobile elements are extracted from the samples using
a multi-element leaching process. Analysis was
received for the following elements (in parts per
billion (ppb)): Ag, As, Au, Ba, Bi, Cd, Ce, Co, Cr,
Cs, Cu, Dy, Er, Eu, Ga, Gd, Ge, Hf, Hg, Ho, In, La,
Li, Lu, Mo, Nb, Nd, Ni, Pb, Pd, Pr, Pt, Rb, Re, Sb,
Sc, Se, Sm, Sn, Sr, Ta, Tb, Te, Th, Ti, Tl, Tm, U, V,
W, Y, Yb, Zn, Zr. Analysis was received for the
following elements (in parts per million (ppm)): Br,
Ca, Fe, I, Mg, Mn.
* QAQC - Field standards and duplicates were inserted
and internal laboratory repeats, standards and blanks
have been undertaken. Results indicate analysis is of
acceptable quality for the assays being reported.
Verification
of * No drilling undertaken or reported.
sampling and
assaying
* No adjustments to the data have been made.
* No drilling reported.
* Soil results have been verified by multiple company
personnel.
* Data is captured and stored on field laptops, then
uploaded to the company's primary database. Data
validation completed by field and office personnel.
Location of
data points * A Garmin GPSMap62 hand-held GPS was used to define
the location of the sample locations. Sample
locations are considered to be accurate to within 5m.
* Hole collars will be picked up by licensed surveyors
on completion of the drilling.
* Zone 51 (GDA 94).
Data spacing
and distribution * Three, 6km long traverses on a nominal 250m x 250m
grid. Traverse lines were W - E orientation, with 82
samples collected.
* 883 samples were then collected on 24 lines spaced
400m apart with samples at 200m intervals.
* One line was only partially sampled by accidental
omission.
* No sample compositing has been applied.
* The data collected is from the soil profile only
Orientation
of data in * Not enough data points to ascertain geological
relation to structures from geochemistry samples.
geological
structure
Sample security
* The chain of custody is managed by the supervising
geologist for Oracle Gold Pty Ltd
Audits or reviews
* Data is validated upon up-loading into the master
database. Any validation issues identified are
investigated prior to reporting of results.
================== ========================================================================
SECTION 2 REPORTING OF EXPLORATION RESULTS
(Criteria listed in the preceding section also apply to this
section.)
Mineral tenement
and land tenure * E53/2140 - 100% owned by Oracle Gold Pty Ltd, was
status granted on the 23/5/2021 for 5 years. The tenement is
29 blocks or 90km(2) .
* This tenement is in good standing.
Exploration
done by other * No Exploration has been carried out by other
parties companies.
Geology
* The Jundee East Project (E53/2140) is located in a
previously unrecognised greenstone belt, proximal to
the Jundee Gold Mine, host to previous production and
resource of >7Moz gold.
* The degree of the structural complexity of the
greenstone unit within Jundee East, including
multiple structures which extend from mineralised
zones of the Jundee Mining area to the tenure,
significantly upgrades the prospectivity for hosting
structurally controlled gold mineralisation within
the greenstone body.
Drill hole Information
* No drilling has been undertaken on the project.
Data aggregation * No data aggregation methods have been used.
methods
Relationship
between mineralisation * There are no relationships between soil geochemical
widths and intercept signatures or results and mineralisation widths.
lengths
Diagrams * Appropriate diagrams are contained in this document.
Balanced reporting
* Reporting of results in this report is considered
balanced.
Other substantive
exploration * A gravity survey completed by Oracle Gold Pty Ltd.
data
Further work
* The results from a small trial soil sampling program
have provided positive results. The geochemical
program using MMI (or similar technique) should be
extended and infilled to a greater density.
* An IP program and detailed low level aeromagnetic
survey are being considered.
* Based on further targeting programs, a maiden reverse
ciculation drill program will be designed.
======================== ====================================================================
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