Last checked at 27 Jul 2021 07:00
27 July 2021
Oracle Power PLC
("Oracle", the "Company")
Appointment of Exploration Manager In Australia
Northern Zone Gold Project Update, Kalgoorlie, Western Australia
Oracle Power PLC (AIM:ORCP), is pleased to announce the appointment of Mr. Edward Mead as Exploration Manager for Oracle's Western Australian gold projects. Mr. Mead is a qualified geologist with more than 25 years' experience in gold and base metals exploration, mine development and mine production. He has worked in a wide range of geological settings and with projects at various stages.
Oracle is also pleased to announce the submission of a Programme of Work (PoW) for the Northern Zone Gold Project, located only 25km east of Kalgoorlie in Western Australia. First phase is to complete 7 Reverse Circulation (RC) drillholes up to 260 metres deep, for a total of ~1,500 metres specifically targeting gold mineralisation within a series of stacked porphyry intrusions.
To undertake the work at Northern Zone, BM Geological Services (BMGS) have been contracted to carry out the drill programme and have started the process of securing a drill rig, pending approval of the PoW, which is expected in the next 2 weeks.
Naheed Memon, CEO of Oracle, commented:
"It is a positive step to appoint Edward as Exploration Manager of Oracle's Western Australian gold assets, which will increase the focus of the company to drive Northern Zone and Jundee East forward. Having Edward, who is based in Perth, available to meet with and manage our consultants has already assisted the company greatly with plans to undertake the first phase drill programme for Northern Zone. Once the POW approval is given, BMGS will be able to confirm drill rig availability and start date."
"Jundee East geochemical soil samples have been submitted and registered at ALS Global, with results expected in 4 weeks."
*ENDS*
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 a natural resource and power project developer listed on London's AIM market with assets in Australia and in Pakistan, under active development.
In Australia, Oracle holds two highly prospective gold assets in globally significant gold mining regions of Western Australia. The drill ready 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 just ~9km east of Northern Star's Jundee Gold Mine, one of Australia's largest gold mines.
In Pakistan, it owns a coal mining lease in Thar at Block VI Project in the Thar desert in the Sindh province. The Thar Project is a 66.1 sq km licence containing 1.4 billion tonnes of coal, where with its partners China National Coal Development Company Ltd. and the private office of His Highness Sheikh Ahmed Bin Dalmook Juma Al Maktoum, the company is developing a combined lignite coal mine, a 1,320MW mine mouth power plant and a coal gasification to urea project.