27
June 2024
Oracle Power
PLC
("Oracle" or the
"Company")
High-Grade Copper
Samples Taken from Blue Rocks Project in
Australia
Oracle Power PLC (AIM:ORCP), an
international project developer, is pleased to update that further
to its announcement on 19 June 2024, company consultant geologists
have recovered what they consider to be on initial analysis
excellent copper samples from site at the Blue Rock Valley Copper
and Silver Project (the "Project").
Figures 1 to 5 show samples of what
appear to be very high-grade copper mineralisation, which has led
to the name of the project. The Project is located 165km southeast
of Onslow, the main port for the region's Iron and LNG exports,
which is a multi-user port. The Project site is accessed from the
North West Coastal Highway on a well-maintained unsealed road.
Refer to Figure 6 below for location.
Highlights:
·
Company consultant geologists have now completed a
site visit to Blue Rock Valley
·
Samples have been logged, recorded and taken to
Perth for analysis
·
Samples will be submitted for assay this week and
results will be announced in
due
course
·
On confirmation of the high-grade samples from the
laboratory, the Company will:
- Further refine the benefits of ground gravity,
electromagnetics or other geophysical programme over
the greater project area
- Get
quotes for a ground based electromagnetic ("EM") survey over
an airborne EM anomaly
that was defined as a result of prior work that is undrilled and
untested and sits in a syncline of sedimentary rocks that are
potentially ideal for base metals (copper, lead, zinc) and silver
to be deposited.
- Undertake drilling when viable.
·
Further targeting tools will continue to be
assessed in order to refine and develop targets
·
Gold and uranium are also being targeted as these
deposit types occur within the Ashburton Basin
Naheed Memon, CEO of Oracle,
commented:
"I
am very pleased to announce that we have completed a site visit to
Blue Rocks, where company geologists took copper samples and photos
of mineralisation and the project area. I look forward to the assay
results from the laboratory, that will assist in the next steps
forward. We will also continue to assess the Project for gold and
uranium."
About Blue Rock Valley Copper and Silver
Project:
The
Project Tenement:
▪
The Project tenement (the "Tenement") covers 32
Blocks (approximately 102km2) (see Figure 6 below) and
is composed of one granted exploration licence, E08/3604. Oracle
Power announced on the 11 June 2024 that it had exercised its
option to acquire 100% of the tenement. The Tenement was granted on
2 October 2023 and expires on 26 October 2028, but is
renewable. The
first term is therefore five years with a possible initial
extension of five years and further extensions of two years
thereafter, with 40% of the licence area to be surrendered at the
end of year six.
-END-
For
further information on Oracle Power PLC, visit the
Company's website
www.oraclepower.co.uk
or contact:
Oracle Power PLC
Naheed Memon -
CEO
+44 (0) 20 7236 1177
Strand Hanson Limited (Nominated
Adviser & Joint Broker)
Rory Murphy, Matthew Chandler, Rob
Patrick
+44 (0) 20 7409 3494
St Brides Partners Limited
(Financial PR)
Susie Geliher
+44
(0) 20 7236 1177
Figure 1: Photo of Rich Copper Oxide
Sample from Historical Run of Mine pile next to Historical Shaft at
Blue Rock Valley.
Figure 2: Photo of Rich Copper Oxide Sample from
Historical Run of Mine pile next to Historical Shaft at Blue Rock
Valley.
Figure 3: Photo of Rich Copper Oxide
within Historical Trench near main shaft at Blue Rock
Valley.
Figure 4: Photo of one of the covered up
historical shafts at Blue Rock Valley.
Figure 5: Photo of Blue Rock Valley which runs up
to the right-hand side of the photo.
Figure 6: Blue Rock Valley project
location and access