Oracle Power reports improved gold recovery of up to 94.7% from Northern Zone gold project
One of the three samples achieved a gold recovery rate of 94.7% after 24 hours
Company
LON:ORCP
Oracle Power PLC is an international power and natural resource project developer listed on London’s AIM market. The company is focussed on delivering reliable power in high growth markets and unlocking the value of highly accretive natural resource assets in prospective regions.
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One of the three samples achieved a gold recovery rate of 94.7% after 24 hours
The Northern Zone is now a priority for the company and the main focus of its activities in Australia
The international natural resource and power project developer updated investors on its key projects
Funding for the new limited liability company will be provided on a 70:30 split
The project is entering the planning and development stage
Jundee East is located approximately seven kilometres due east of Northern Star's 5.4mln ounce Jundee gold mine
The Jundee East project is highly prospective for gold
The memorandum of understanding signed with Sui Southern Gas Company, "could be a significant turning point in the pursuit to secure long-term domestic syngas", said chief executive Naheed Memon
In a stock market statement that recapped the group’s activities in the year just ended, Oracle’s chief executive officer, Naheed Memon, said he was pleased with the progress made.
“This is a huge achievement and gives us the first tangible sense of what a significant gold mining project Northern Zone could become," Naheed Memon said.
Five targets have so far been identified by the company for the maiden drill programme.
The ceremonial signing of a co-operation agreement with PowerChina, to jointly develop the first green hydrogen production facility in Pakistan, took place on Saturday
The ceremonial signing of a co-operation agreement with PowerChina, to jointly develop the first green hydrogen production facility in Pakistan, took place on Saturday
Dr Naveed Akhtar will join as an adviser on hydrogen technology
Details of the Q&A session will be made available on the company's website by 22 October
The project is located about 25km east of Kalgoorlie, home to the second-largest gold mine in Australia
Oracle has a portfolio of energy and gold assets in Pakistan and Australia
The company, which has no revenue, ended the period with cash and cash equivalents of £975,820
"It is fantastic to start Oracle's maiden Australian drill programme at Northern Zone, and a big step forward with respect to our Western Australian gold strategy"
In November 2020, Oracle Power acquired two gold licences in Western Australia, the Jundee East project and the Northern Zone project