Oracle Power PLC (AIM:ORCP) shares climbed on Wednesday after it reported assay results from the first six drillholes in its 21-hole grade control program at the Northern Zone Gold Project near Kalgoorlie, Western Australia.
The company said the results continue to expand the mineralised footprint at the intrusive-hosted system.
Significant intercepts include 9 metres at 1.33 grams per tonne gold, 3 metres at 4.39 grams per tonne gold and 5 metres at 1.75 grams per tonne gold, all from shallow depths.
“The results from this first batch of assay results continue to expand the lateral footprint of the Northern Zone and we continue to achieve the goal of making the project bigger in the oxide zone," said chief executive Naheed Memon.
Oracle said drilling has progressed on a further 40-hole programme, with results expected within six to eight weeks.
In London, Oracle shares were up 10% changing hands at 0.042p