Oracle Power PLC (LSE:ORCP) reported a new set of positive assay results from a further 21 drill holes completed at the Northern Zone Intrusive Hosted Gold Project, part of its broader Kalgoorlie Gold Project in Western Australia. The latest results confirm additional shallow gold mineralisation and extend the known mineralised footprint, particularly toward the northeast and across the saddle area.
The company highlighted several strong intercepts from the programme, including 8 metres grading 5.81 g/t gold alongside multiple other high-grade, near-surface intersections. Oracle said the data continues to support its geological model of an approximately 600-metre-wide oxide gold system sitting above the underlying Northern Zone porphyry, reinforcing confidence in the scale and continuity of the mineralisation.
These results are expected to feed directly into a future maiden Mineral Resource Estimate, as well as mine planning activities being progressed with MEGA Resources. Oracle is targeting the commencement of mining operations in the first half of 2026. In parallel, the company is advancing the conversion of the project area to a Mining Lease, progressing its Mine Development and Closure Plan and completing environmental assessment work. A drill rig has also been secured for February to continue expanding the shallow oxide resource base.
Collectively, management said these developments further strengthen the project’s pathway toward production and enhance Oracle’s strategic positioning within the established Kalgoorlie gold district.
From an investment perspective, Oracle’s outlook remains constrained by the absence of revenue, ongoing losses and negative operating cash flow, implying continued reliance on external funding. Share price technicals show a supportive longer-term uptrend, although elevated volatility and overbought momentum indicators increase the risk of near-term pullbacks. Valuation remains limited by negative earnings and the lack of dividend visibility.
More about Oracle Power PLC
Oracle Power PLC is an international project developer listed on AIM, focused on advancing gold and energy assets. The company is currently developing the Kalgoorlie Gold Project in Western Australia, working alongside partners including Riversgold and MEGA Resources to define and advance shallow, oxide-hosted gold mineralisation at the Northern Zone toward near-term production.
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