Oracle Power PLC (LSE:ORCP) has announced fresh drilling results from 31 holes at its Northern Zone gold project near Kalgoorlie, revealing some of the highest grades and widest intercepts recorded so far. Highlights include 15 metres at 5.62 g/t gold and 8 metres at 9.90 g/t, with drilling successfully extending shallow mineralisation—particularly across the saddle area linking the central and eastern zones. The findings support the existing geological model and point to an expanding footprint of near-surface oxide gold.
Progress on development readiness is also advancing, with the conversion of the Northern Zone licence into a mining lease described as well progressed. Heritage clearance surveys have now been completed, removing a key permitting barrier. Under a Right to Mine and Co-Operation Agreement, MEGA Resources will fully fund development and mining activities, with profits split evenly. This arrangement enables Oracle and its partners to accelerate toward potential production, subject to continued resource growth.
Despite these operational positives, the company’s broader outlook remains constrained by its early-stage financial profile, including no revenue generation, ongoing losses, and negative cash flow, which implies continued dependence on external funding. From a market perspective, technical indicators show a strong upward trend, though elevated RSI levels and volatility suggest the potential for near-term pullbacks. Valuation remains limited by the absence of earnings and dividend support.
More about Oracle Power PLC
Oracle Power PLC is a resource development company with a focus on international natural resource projects. Its key asset is the Northern Zone Intrusive Hosted Gold Project in Western Australia, located near Kalgoorlie. The company is advancing this project in partnership with Riversgold Limited and MEGA Resources, targeting shallow oxide gold deposits that could support near-term mining opportunities.
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