Soil sampling and a ground-based gravity survey are underway
Oracle Power PLC (LON:ORCP) has been awarded an exploration tenement for licence E53/2140, which contains the Jundee East gold project, located in the Eastern Goldfields region of Western Australia.
The project represents a previously unrecognised significant greenstone belt proximal to Northern Star s Jundee Gold Mine, host to previous production and resource of over 7Mln oz gold
Soil sampling and a ground-based gravity survey are underway with as a next step an Induced Polarisation (IP) survey.
Naheed Memon, Oracle’s chief executive, said: The granting of the Jundee East exploration tenement, located only 7km due east of one of Australia s largest gold mines, is a great milestone that allows drilling to commence once final targeting programmes have been completed.
Oracle Power Plc highlights significant strides in Pakistan and Australia
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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 Northern Zone is comprised of one granted prospecting licence (P25/2651) which covers an area of 82 hectares. The Project is in an area highly prospective for gold and is approximately 25km east of Kalgoorlie, the home of the Super Pit mine, the second largest gold mine in Australia, 40km north of Kambalda and 55km east-north-east from Coolgardie.
The main host for potential gold mineralisation is the auriferous veins in granitic intrusions in the N-S structural corridor. However, the northern portion is covered by deep transported material up to 70m thick, making geochemical detection of mineralisation difficult and requiring drilling. There have been several historic drill programmes conducted on the project area from 1998-2012. There are many significant drill intercepts historically reported, with some of the more significant gold drilling intercepts including:
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, in tandem 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.
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