Oracle Power PLC (AIM:ORCP) chief executive Naheed Memon said the company is “extremely eager” to start drilling at Jundee East in Western Australia, where it is advancing exploration campaigns.
The international natural resources project developer told investors a slimline reverse circulation track-mounted drill rig is secured for the Jundee East gold project and is slated to mobilise in late January or early February.
Five targets have been identified for the maiden drill programme, which aims to confirm the presence of a previously unrecognised greenstone belt proximal to Northern Star's Jundee gold mine.
Referring to the Northern Zone project, assays results from the first phase of drilling are being finalised by ALS Global and the company expects to receive the results in late December or early January for internal processing and analysis. Initial reports from the laboratory are very encouraging and Memon "remains bullish about the potential for this project to deliver compelling results from our work campaigns in 2022."
He added: "We continue to push forward with our exploration campaigns at both Jundee East and Northern Zone and we look forward to 2022 which we hope will yield positive results from both assets.”
"We are extremely eager to commence drilling at Jundee East, which will represent the first drill testing of the potential new greenstone belt discovered by the Oracle team following our acquisition of the licences last year.
“This project is located in one of the best postcodes for gold large gold discoveries in Western Australia, and we have identified five priority targets from geochemical sampling which will guide our drilling activities during this campaign.”