31 March 2025
Oracle Power
PLC
("Oracle"
or the "Company")
Exploration Underway at the
Blue Rocks Copper Project in Australia
APEX Geoscience on site to
complete maiden geochemical sampling programme
Oracle Power PLC (AIM:ORCP),
an international project developer, is pleased to
announce that Apex Geoscience has started the maiden geochemical
sampling programme to progress exploration at the Blue Rock Valley
Copper and Silver Project (the "Project"), located in the Ashburton
Basin in the northwest region of Western Australia. 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 1 below for location.
Apex Geoscience has started the
geochemical sampling programme over the multiple gravity targets
identified along the main Blue Rock valley copper mineralised trend
of ~2km strike, Figures 2 and
3. Drilling targets will be refined by this sampling
programme. Further geophysical techniques are also being
considered such as Expert Geophysics MobileMT drone-based system,
that has had been successful in identifying sulphide anomalies in
Western Australia.
Naheed Memon, CEO of Oracle,
commented:
"I
am very pleased with the positive results to date, and it is great
to now bring Apex Geoscience in to the project
and
start exploration over the gravity anomalies that strike over ~ 2km
around the high grade copper rock chip samples. Geochemical
sampling is underway
as the next best
step to advance the project towards drilling, and will be used as a
multi vector to rank gravity anomalies for priority drilling. I
look forward to updating shareholders in due course as we continue
work advancing this project."
For
further information on Oracle, visit the Company's website
at http://www.oraclepower.co.uk
or
contact:
Oracle Power PLC
Naheed Memon -
CEO
+44 (0) 203 580 4314
Strand Hanson Limited (Nominated Adviser &
Broker)
Rory Murphy, Matthew Chandler, Rob
Patrick
+44 (0) 20 7409 3494
St
Brides Partners Limited (Financial PR)
Susie Geliher, Isabel De Salis
+44 (0) 20 7236 1177
Competent Person's Statement
The information in this announcement
that relates to exploration results, exploration targets, mineral
resources or ore reserves is based on information compiled by Mr
Edward Mead, who is a Fellow of the Australasian Institute of
Mining and Metallurgy. Mr Mead is a director of Riversgold Limited
and a consultant to the Company through Doraleda Pty Ltd. Mr Mead
has sufficient experience which is relevant to the style of
mineralisation and type of deposit under consideration and to the
activity that he is undertaking to qualify as a Competent Person as
defined in the 2012 edition of the `Australasian Code for Reporting
Exploration Results, Mineral Resources and Ore Reserves' (the JORC
Code). Mr Mead consents to the inclusion of this information in the
form and context in which it appears in this
announcement.
About Blue Rock Valley Copper and
Silver Project:
The
Project Tenement:
The Project tenement (the
"Tenement") covers 32 Blocks (approximately 102km2)
(Figure 1) 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.
The Blue Rock Valley Copper and
Silver Project (E08/3604) is in the Ashburton Basin, in the
northwest region of Western Australia. The site is located 165km
southeast of Onslow, the main port for the region's Iron and LNG
exports, which is a multi-user port. Access is from the Northwest
Coastal Highway on a well-maintained unsealed road.
Project Geology
The eastern portion of the Project
area overlies the Wyloo Group sediments of the Ashburton Basin
which are unconformably overlain by rocks of the Edmund Basin
(previously the Bangemall Basin), which cover the western portion
of the Tenement. The contact between the Ashburton and Edmund
basins is interpreted as being a thrust contact with movement to
the west and can be clearly seen in the regional aeromagnetic
image.
Mineralisation
The Ashburton Mineral Field (which
incorporates the Project area) has a long history of gold, copper,
silver, lead and zinc exploration.
Several smaller prospects which were
historically exploited for gold, copper, silver and lead are
located nearby including the Soldiers Secret and Top Camp gold
deposits. Small-scale production of copper, lead and silver has
also been recorded in the Ashburton Basin, mainly from the
Ashburton Downs copper deposits within the Project area and others
in the region such as Kooline (Pb, Ag) and Bali Hi (Cu-Pb-Ag)
areas.
Blue Rock Valley high-grade rock
chip and grab samples as announced on 12 July 2024 that confirmed
the historical tenure of the copper mineralisation:
·
18.2% Copper, OBR001
·
12.34% Copper,
OBR002
·
25.7% Copper, OBR003
·
8.56% Copper, OBR004
·
10.08% Copper,
OBR005
A ground gravity survey confirmed
multiple gravity targets for follow up work along the main Blue
Rock valley copper mineralised trend of ~2km strike the survey
covered.

Figure
1: Blue Rock Valley project location and
access

Figure
2: Zoomed in gravity survey
results over the immediate Blue Rock Valley known mineralisation
with 1VD Bouguer Gravity anomalies highlighted in red
circles
Figure 3: 1VD Bouguer Gravity with VTEM
anomalies (Red Stars) and red oval for Blue Rock Valley gravity
anomalism. Red rectangle of area to be targeted with geochemical
sampling.
APPENDIX 1: Drilling Information
Table 1: Northern Zone Drill Collar
Locations
Hole Id
|
Type
|
MGA_E
|
MGA_N
|
Elevation
(m)
|
Total Depth
(m)
|
Dip
(o)
|
AZM_MGA
|
Date
|
NZRC007
|
RC
|
381512
|
6592636
|
356.95
|
120
|
-60
|
225
|
04/03/25
|
NZRC008
|
RC
|
381560
|
6592644
|
356.82
|
121
|
-60
|
225
|
03/03/25
|
Table 2: Northern Zone Significant
Intercepts
Hole ID
|
From (m)
|
To (m)
|
Width (m)
|
Au g/t
|
Intercept
|
|
|
|
|
NZRC007
|
39
|
93
|
54
|
0.65
|
54m
@ 0.65 g/t Au from 39m
|
|
|
including
|
39
|
46
|
7
|
3.62
|
inc.
7m @ 3.62 g/t Au from 39m
|
|
|
including
|
42
|
43
|
1
|
10.81
|
inc.
1m @ 10.81 g/t Au from 42m
|
|
|
including
|
44
|
45
|
1
|
12.10
|
inc.
1m @ 12.10 g/t Au from 44m
|
|
|
including
|
52
|
53
|
1
|
3.97
|
inc.
1m @ 3.97 g/t Au from 52m
|
|
|
NZRC008
|
37
|
91
|
54
|
0.51
|
54m
@ 0.51 g/t from 37m
|
|
|
including
|
37
|
42
|
5
|
4.37
|
inc.
5m @ 4.37 g/t Au from 37m
|
|
|
including
|
40
|
41
|
1
|
15.13
|
inc.
1m @ 15.13 g/t Au from 40m
|
|
|