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Oracle Power PLC - London-based power and natural resource project developer with projects focused on Pakistan - Reports positive metallurgical results from the first three samples from its 100% owned Northern Zone Gold Project in Western Australia. Results indicate gold recoveries can be achieved within six hours of 83.3% gold and up to 90.4% gold recovery over 72 hours.
Chief Executive Naheed Memon says: "The positive metallurgy at Northern Zone is the next step for the company to move the project forwards. We have defined a large exploration target of 2.5 to 4.8Moz gold, and with the widths of mineralisation intersected in this and historical drill programmes, and now with an understanding of potential recovery, around 90%, this ensures we are in a strong position to move to the next step of increasing confidence in the tonnes and grade of the gold deposit. Northern Zone is now a priority for the company and the main focus of our activities in Australia."
Current stock price: 0.30 pence
12-month change: down 38%
By Heather Rydings; heatherrydings@alliancenews.com
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