Oracle Power PLC (LON:ORCP)(AQSE:ORCP) returned positive geochemical sampling results from its maiden orientation survey at its 100% owned Jundee East gold project in the Eastern Goldfields region of Western Australia.
The geochemical soil sampling programme over the first three lines at Jundee East showed positive responses for gold and copper using mobile metal ion (MMI) geochemical techniques designed to identify mineralisation below cover.
Raw multi-element plots show clear variations of elevated gold and copper above buried targets of greenstone belts and intrusions located about 100 metres below surface.
"Jundee East represents an exceptionally exciting prospect for Oracle in one of the most prolific gold producing regions globally,” said Naheed Memon, chief executive of Oracle.
“These positive results from the orientation soil geochemistry programme confirm we are on the right path to unlocking the potential of this new unexplored area. The soil sampling programme will now be expanded to better inform a maiden drill programme which we believe will lay the foundations for a JORC Resource."