Trump announces trade deal with EU following months of negotiations
PERTH – Oracle Power PLC (AIM:LON:ORCP) has received approval from the Department of Energy, Mines, Industry Regulation and Safety (DEMIRS) for an expanded drilling program at its Northern Zone Gold Project, situated 25 km east of Kalgoorlie in Western Australia. The approved Programme of Works (PoW) includes an additional 200 drill holes aimed at advancing the project towards a maiden Mineral Resource Estimate (MRE).
The company’s CEO, Naheed Memon, expressed enthusiasm for the project’s progression, highlighting the rapid approval for further drilling and the commencement of various programs designed to enhance the project’s value. Oracle (NYSE:ORCL) Power has engaged Xiraltem, a Kalgoorlie-based structural consulting group, to perform structural logging of four diamond drill holes to a depth of 500 meters. This work will inform the structural and geological model that underpins the forthcoming MRE.
In addition to drilling activities, a high-resolution drone magnetic survey is planned to be conducted later this week to assist with structural interpretation. The survey results, along with the structural logging, will contribute to a comprehensive geological understanding of the Northern Zone.
Metallurgical testing on oxide mineralization is also underway, which aims to bolster confidence in previous testwork findings. This testing is part of Oracle’s broader efforts to advance the Northern Zone project, which includes the ongoing application for a Mining Licence and a Miscellaneous Licence. The latter is intended to facilitate ore transport from the Northern Zone to local toll treatment processing plants via gazetted roads.
The Mining Licence application is currently in the Native Title advertising period, which is expected to conclude in late May 2025. Oracle anticipates further updates on the licensing process later this month, alongside assay results from ALS Laboratories.
This development reflects Oracle’s commitment to advancing its Northern Zone Gold Project and providing regular updates to shareholders as the project progresses. The information for this report is based on a press release statement.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.