19
June 2024
Oracle Power
PLC
("Oracle" or the
"Company")
Exploration to start at Blue
Rock Valley Copper and Silver Project
Northwest Region of Western
Australia
Oracle Power PLC (AIM:ORCP), an
international project developer, is pleased to announce that
company geologists will be on site, this week, at the Blue Rock
Valley Copper and Silver Project (the "Project"), located in the
Ashburton Basin in the northwest region of Western
Australia.
Highlights:
o Company Geologists will be on site this week to:
o Assess the benefits of a geochemical sampling
programme
o Assess the benefits of a ground gravity geophysical
programme
o Field truth an Electromagnetic (EM) anomaly near prior work
that is undrilled and untested, and sits in a syncline of
sedimentary rocks that are potentially ideal for base metals
(copper, lead, zinc) and silver to be deposited.
o Assays from historical drilling and rock chip sampling
suggests the presence of high-grade copper and silver
mineralisation as well as the potential for uranium.
o Significant historical rock chip samples collected in the
vicinity of the Project area by Jackson Minerals Limited
("Jackson") between 2007 and 2010 (WAMEX Report A079571)
comprise:
- BRR011: 49.9% Cu, 4.93g/t Ag
|
-
J45413: 10.7% Cu
|
-
BRR012: 37.6% Cu, 6.69g/t Ag
|
-
J45438: 9.09% Cu, 20.5g/t Ag
|
-
BRR013: 16.05% Cu, 4.34g/t Ag
|
-
J45441: 7.89% Cu
|
- BRR014: 14.85% Cu, 2.82g/t Ag
|
-
J45436: 6.6% Cu
|
-
BRR015: 11.75% Cu, 2.37g/t Ag
|
-
J45414: 4.98% Cu, 4.1g/t Ag
|
o Historical Reverse Circulation drilling returned significant
results:
- Hole
BBRC005: 4m @ 1.02% Cu from 0m; and
- Hole
BBRC004: 8m @ 0.54% Cu from 6m (including 1m @ 1.39% Cu from
10m).
o Further targeting tools to be assessed in order to refine and
develop targets, before drilling is undertaken.
o Gold
and uranium also being targeted as these deposit types occur within
the Ashburton Basin.
The
Project Tenement:
The Project tenement (the
"Tenement") covers 32 Blocks (approximately 102km2) (see
Figure 2 below) and is composed of one exploration licence,
E08/3604, wholly owned by Mining Equities Pty Ltd ("Mining
Equities"). The Tenement was granted on 2 October 2023 and expires
on 26 October 2028, but is renewable. The first term is therefore five years
with a possible initial extension of five years and further
extensions of two years thereafter, with 40% of the licence area to
be surrendered at the end of year six.
For
further information on Oracle Power PLC, visit the
Company's website
www.oraclepower.co.uk
or
contact:
Oracle Power PLC
Naheed Memon - CEO
|
+44 (0) 20 7236 1177
|
St Brides Partners Limited
(Financial PR)
Susie Geliher / Isabel de Salis /
Isabelle Morris
|
+44 (0) 20 7236 1177
Oralce@stbridespartners.co.uk
|
Competent Person's Statement
The information in this announcement
that relates to exploration results, mineral resources or ore
reserves is based on information compiled by Mr Edward Mead, who is
a Fellow of the Australasian Institute of Mining and Metallurgy. Mr
Mead is a consultant to the Company. Mr Mead has sufficient
experience which is relevant to the style of mineralisation and
type of deposits under consideration and to the activity that 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' (the JORC Code). Mr
Mead consents to the inclusion of this information in the form and
context in which it appears in this announcement.
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END