RCS - Oracle Power PLC - Exploration to start at Blue Rock Valley Project

Oracle PowerAnnouncement

19/06/2024 07:00

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RNS Number : 9535S  Oracle Power PLC  19 June 2024

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
102km(2)) (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 (http://www.oraclepower.co.uk) or contact:

 

 

 Oracle Power PLC                                      +44 (0) 20 7236 1177

 Naheed Memon - CEO

 St Brides Partners Limited (Financial PR)             +44 (0) 20 7236 1177

 Susie Geliher / Isabel de Salis / Isabelle Morris     Oralce@stbridespartners.co.uk (mailto: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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