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
|
+44 (0) 20
7236 1177
|
|
Strand Hanson Limited (Nominated Adviser &
Broker)
Rory Murphy, Matthew Chandler, Rob
Patrick
|
+44 (0) 20
7409 3494
|
|
St
Brides Partners Limited (Financial PR)
Isabel de Salis, Susie
Geliher
|
oracle@stbridespartners.co.uk
|
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