Oracle Power PLC (AIM:ORCP) said it has commenced a field-based exploration programme at the Jundee East gold project in the Eastern Goldfields region of Western Australia.
The company will conduct three soil geochemical lines totalling approximately 240 samples in an east-west orientation, and undertake mobile metal ion sampling.
Results from the field-based exploration programme will be interpreted alongside existing detailed 3D modelling of gravity-based response which demonstrated a strong degree of correlation of gravity response between that of the world-class Jundee gold mine and the project.
"With the commencement of field-based exploration work at the Jundee East Project, our second project in Western Australia, we believe that we can start to unlock substantial value for the shareholders of Oracle as we progress the assets, said Naheed Memon, chief executive Oracle Power in a statement.
“The scale of the target area being evaluated and its respective proximity to the Jundee gold mine exemplifies the prospectivity potential of the project. The initial phase of field-based exploration aims to determine the effectiveness of geochemical exploration methods at defining anomalies warranting further investigation. A project wide geochemical based sampling programme will be implemented if the method being trialled is determined to be suitable to targeting the styles of mineralisation believed to be present within the tenure."