t
| Date | 19 Jun 2024 |
| Time | 07:00:11 |
| Category | Miscellaneous |
| ID | 9535S |
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 |
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.