Oracle Power PLC (AIM:ORCP) said it received official approval to undertake a drilling programme at its Jundee East gold project in the Eastern Goldfields region of Western Australia.
The Department of Mines Industry Resources and Safety (DMIRS) approved the programme that will target five areas.
Oracle has contracted BM Geological Services to secure a drill rig.
The project is located about 7km due east from Northern Star Resources Ltd’s producing Jundee gold mine, which has a current resource estimate of 5.4 million ounces.
Elsewhere, the ceremonial signing of a non-exclusive co-operation agreement between Oracle and PowerChina International Group Ltd to jointly develop the first green hydrogen production facility in Pakistan took place on Saturday.
READ: Oracle Power signs green hydrogen joint venture deal with PowerChina Group
Green hydrogen - hydrogen that is generated from renewable sources - is widely regarded as one of the most important energy sources to support the transition to a carbon neutral future.
"I was honoured to be invited to a ceremonial signing ceremony for the 400MW green hydrogen project planned for development in Pakistan alongside our PowerChina partner,” said Oracle Power CEO Naheed Memon. “The support and enthusiasm expressed by both governments today has strengthened our determination to succeed quickly.
“There is no doubt that green hydrogen is potentially the single most important tool the international community has in our collective bid to transition to a carbon neutral future and I am proud that Oracle is to play a part in this exploration of options to jointly develop a first of its kind green hydrogen production facility in the country.”