Oracle Power PLC (LON:ORCP) revealed a proposed drilling programme has been designed for the Northern Zone Gold Project in Western Australia.
The first phase is to complete seven reverse circulation (RC) drill holes, each up to 260 metres deep, for a total of around 1,500 metres specifically targeting gold mineralisation within a series of stacked porphyry intrusions.
Oracle Power said drilling is expected to commence within the next six to eight weeks, depending on when it is granted regulatory approval.
"It is a significant development, with respect to our Western Australian gold strategy, to have our consultants finalise plans for a first phase drill programme for Northern Zone. I have been advised that we could realistically expect the programme of work approval process for drilling to take 2-3 weeks, and depending on drill rig availability, the drill programme will take about 10 days to complete with assay results expected some 3-4 weeks after submission,” said Naheed Memon, the chief executive officer of Oracle.
"I'm also pleased to advise that The Jundee East sampling programme is well underway, and we are now aggressively ramping up exploration in Western Australia. I anticipate continued and regular news flow over the following months now that Oracle is advancing further its Australian exploration assets,” Memon added.