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(Sharecast News) - Oracle Power announced on Monday that the Department of Mines, Industry Resources and Safety (DMIRS) has approved the programme of work for drilling of the five target areas defined at its wholly-owned Jundee East Gold Project, in the Eastern Goldfields region of Western Australia.
The AIM-traded firm said the project is also located around seven kilometres east of Northern Star's Jundee Gold Mine.
It said that, to undertake the drill programme at Jundee East, it had contracted BM Geological Services (BMGS), which was working on securing a drill rig, which would be mobilised to site for the start of drilling.
"It is great to have the programme of work approved, which allows Oracle to commence drilling at Jundee East," said chief executive officer Naheed Memon.
"Local contractors, BMGS, will seek to secure a drill rig and, once availability is confirmed, we will update shareholders."
At 1603 BST, shares in Oracle Power were up 6.52% at 0.49p.
13 Jun 2022 21:22
IN BRIEF: Oracle Power designs Northern Zone exploration target
Oracle Power PLC - London-based power and natural resource project developer with projects focused on Pakistan - From three samples from its Northern Zone Gold project in Australia, metallurgy results indicate an average gold recovery of 88% over 12 hours and 93% over 24 hours, alongside low copper content of 2.0 parts per million.
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