Survey Finds Targets at Blue Rock Copper Project

Oracle Power PLC

29 October 2024

 

29 October 2024

Oracle Power PLC

("Oracle" or the "Company")

Gravity Survey Identifies Targets at High-Grade Blue Rock Copper Valley Project in Australia

Oracle Power PLC (AIM:ORCP), an international project developer, is pleased to announce that a ground based gravity survey has been completed at the Blue Rock Valley Copper and Silver Project (the "Project"), located in the Ashburton Basin in the northwest region of Western Australia.

The gravity survey covered the central portion of outcrop with known copper mineralisation and Versatile Time Domain Electromagnetic (VTEM) anomalies, Figures 3-5. The survey has identified multiple gravity highs along the Blue Rock Valley trend for potential drilling, to test for further potential copper mineralisation. The weaker response in the gravity data where previous drilling and samples were taken is assumed to be a result of this portion of the copper mineralisation being mined in the 1960s. The Company is now assessing whether to undertake geochemical sampling or look to drill test targets and a further announcement will be made in due course.

Highlights:

·    Blue Rock Valley high-grade rock chip and grab samples as announced on 12 July 2024 grading:

o  18.21 % Copper, OBR001

o  12.34 % Copper, OBR002 (refer to Figure 1)

o  25.70 % Copper, OBR003

o  8.56 % Copper, OBR004

o  10.08 % Copper, OBR005

·    Samples confirmed the historical tenure of copper mineralisation.

·    A ground gravity survey has now been completed over copper mineralisation and VTEM anomalies.

·    Multiple targets have been identified by the ground gravity survey for follow up work along the Blue Rock Valley trend of approximately2km of strike the survey covered.

Naheed Memon, CEO of Oracle, commented: "I am very excited  to see positive results from the gravity survey and announce that we have gravity anomalies to follow up along Blue Rock Valley trend with a strike of approximately 2km. There are also gravity anomalies associated with the VTEM anomalies. The Company will now consider whether to undertake geochemical sampling or look to drill test targets."

For further information contact:

Oracle Power PLC Naheed Memon - CEO	[phone]
Strand Hanson Limited (Nominated Adviser & Broker) Rory Murphy, Matthew Chandler, Rob Patrick	[phone]
St Brides Partners Limited (Financial PR) Isabel de Salis, Susie Geliher	[e-mail]

This announcement contains inside information for the purposes of Article 7 of EU Regulation No. 596/2014, which forms part of United Kingdom domestic law by virtue of the European (Withdrawal) Act 2018, as amended.

Competent Person's Statement

The Information in this report that relates to exploration results, exploration targets, mineral resources or ore reserves is based on information compiled by Mr Edward Mead, who is a Fellow of the Australasian Institute of Mining and Metallurgy. Mr Mead is a director of Riversgold Limited and a consultant to the company through Doraleda Pty Ltd. Mr Mead has sufficient experience which is relevant to the style of mineralisation and type of deposits under consideration and to the activity that he is undertaking to qualify as a Competent Person as defined in the 2012 edition of the `Australian Code for Reporting Exploration Results, Mineral Resources and Ore Reserves' (the JORC Code). Mr Mead consents to the inclusion of this information in the form and context in which it appears in this report.

Figure 1: Photo of Rich Copper Oxide Sample taken from Historical Trench next to Historical Shaft at Blue Rock Valley. Sample OBR 002 assayed 12.34% Copper

                                                  

Figure 2: Blue Rock Valley project location and access

Figure 3: Project Tenement Plan with area of gravity survey shown in red box

Figure 4: Zoomed in gravity survey results over the immediate Blue Rock Valley known mineralisation with 1VD Bouguer Gravity anomalies highlighted in red circles

Figure 5: 1VD Bouguer Gravity with VTEM anomalies and red circle for Blue Rock Valley anomalism

 

END