Oracle Power shares jumped on Wednesday after announcing encouraging assay results from six drillholes at its Northern Zone Gold Project, situated 25 kilometres east of Kalgoorlie in Western Australia.
The latest batch reveals the highest grade of 11.0 g/t gold over one metre at 46 metres depth in drillhole NZAC153. Other notable intercepts include five metres at 3.09 g/t gold from 47 metres and seven metres at 1.58 g/t gold from 42 metres.
Oracle noted that gold mineralisation has now been identified in a previously undrilled “saddle” area between the eastern and northwestern mineralised zones, extending the project’s footprint.
The company’s partnership with Riversgold continues to encounter shallow gold mineralisation across the project area. Drilling for 2025 has concluded, with samples from 28 air core drillholes submitted for assay. Results from the remaining 37 drillholes are expected to arrive in batches over the next six weeks.
All in all, it’s been a positive campaign for Oracle and its shareholders, with shares up around 85% on the year.
A further nine grade control drillholes are anticipated shortly, which will provide additional detail on the deposit’s characteristics.
“Intersecting these gold grades in the previously undrilled saddle area between the eastern and the northwestern shallow gold zones is highly significant as it demonstrates the potential for these two zones to join together,” explained Naheed Memon, CEO of Oracle.
“Our modelling suggests that this could constitute a ~600m wide zone of shallow oxide mineralisation overlying the Northern Zone porphyry system.
“The two recently completed drill programs were designed to add to the gold footprint in the top 50-60m at the Northern Zone Project, and to enhance the MEGA Resources mining scenario for 2026. Results continue to expand the lateral footprint of Northern Zone and we are achieving the goal of making the Project bigger in the oxide zone. I look forward to updating shareholders as we progress the Project.”