Oracle Power Provides Positive Assay Results from Northern Zone Gold Project
Why we think this is neutral
The RNS announcement provides an update on assay results from the Northern Zone Gold Project, which does not fall under the mandatory news types specified. While the results appear positive, with significant gold intercepts reported, the announcement does not contain any financial figures, contract details, or other information that would warrant a stronger sentiment score.
Key Points
- Significant shallow gold intercepts from two RC drill holes, including 7m @ 3.62 g/t Au, 1m @ 10.81 g/t Au, 1m @ 12.10 g/t Au, and 1m @ 3.97 g/t Au
- RC drill rig completed 11 holes for 1,289m targeting shallow depths of 100m to 120m
- Results confirm and enlarge the shallow gold mineralisation associated with the Northern Zone porphyry
- Further 2,000m of drilling to test shallower mineralisation commencing
Summary
Oracle Power PLC has announced the receipt of assay results for the first two Reverse Circulation (RC) drill holes of an 11-hole programme at its Northern Zone Intrusive Hosted Gold Project in Western Australia. The results indicate that the company and its partner Riversgold Limited have successfully continued to probe the porphyry over an increasing footprint within the tenement area, with significant shallow gold intercepts reported.