Geochemical Survey Underway at Jundee East Project

RNS Number : 0870E

Oracle Power PLC

05 July 2021

 

5 July 2021

Oracle Power PLC

("Oracle", the "Company")

Geochemical Survey Underway at Jundee East Gold Project, Australia

Oracle Power PLC (AIM:ORCP, AQSE:ORCP), is pleased to announce that, further to the announcement of 23 June 2021, the geochemical sampling programme covering almost the entire tenement at its 100% owned Jundee East Gold Project, is now underway.  This new geochemical programme will expand on the maiden geochemical sampling programme which returned the highly positive results announced on 14 June 2021.

Naheed Memon, CEO of Oracle, commented :

"Jundee East delivered highly compelling results from the maiden geochemical sampling programme and we are confident that this expanded programme will provide the Company with a much more comprehensive insight into the mineralised footprint of this significant tenement area which covers an area of approximately 90km² in one of the most productive gold regions globally.  The sampling is expected to take 10 days, with assay expected four to six weeks after this.  Jundee East represents an exceptionally exciting prospect for Oracle and this soil sampling programme will continue to lay the foundations for a maiden drill programme later this year."

*ENDS*

For further information on Oracle Power Plc, visit the Company's website http://www.oraclepower.co.uk or contact:

Oracle Power PLC

Naheed Memon - CEO  [phone]

Strand Hanson Limited (Nominated Adviser)

Rory Murphy Rob Patrick                                                                            [phone]

Brandon Hill Capital Limited (Joint Broker)

Oliver Stansfield  [phone]

Shard Capital (Joint Broker)

Damon Heath, Isabella Pierre                                                                    [phone]

St Brides Partners Limited (Financial PR)

Susie Geliher, Catherine Leftley                                                                 [phone]

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.

About Oracle Power PLC:

Oracle Power PLC is an international natural resource and power project developer listed on London's AIM market. The Company is focussed on delivering reliable and affordable power in emerging developing markets, unlocking the value of underutilised and undeveloped natural resources to provide energy security and support economic growth and development. Its initial project is the Thar Block VI Project in the Thar desert in the south-east of the Sindh province of Pakistan.  The Thar Project is a 66.1 sq km licence containing 1.4 billion tonnes of coal, where the Company, together with its partners China National Coal Development Company Ltd. (CNCDC) and the private office of His Highness Sheikh Ahmed Bin Dalmook Juma Al Maktoum, is advancing a combined lignite coal mine, a 1,320MW mine mouth power plant and a proposed coal gasification to urea project.

The Company also holds two highly prospective gold assets in two globally significant gold regions of Western Australia.  The Northern Zone Project is located 25km east of the major gold mining centre of Kalgoorlie, the home of the 'Super Pit' mine, the second largest gold mine in Australia, and the Jundee East Gold Project is located ~9km east of Northern Star's Jundee Gold Mine, one of Australia's largest gold mines.

 

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