Business
Drilling Approval Received for Jundee East
Drilling Approval Received for Jundee East.
About this update from Oracle Power Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 0260Q\n Oracle Power PLC\n 25 October 2021\n \n \n \n \n \n \n \n 25 October 2021\n \n \n Oracle Power PLC\n \n \n (\"Oracle\" or the \"Company\")\n \n \n \n \n \n Drilling Approval Received for Jundee East Gold Project, Australia\n \n \n \n \n \n \n \n \n Oracle Power PLC (AIM:ORCP) is pleased to announce that the Department of Mines Industry Resources and Safety (DMIRS) has approved the programme of work (\"PoW\") for drilling of the five target areas defined at its 100% owned Jundee East Gold Project, located in the Eastern Goldfields region of Western Australia (\"Jundee East\" or the \"Project\"), which is located about 7km due east of Northern Star's Jundee Gold Mine (see Figure 1).\n \n \n \n \n \n To undertake the drill programme at Jundee East, the Company has contracted BM Geological Services (\"BMGS\"), which is working on securing a drill rig, which will be mobilised to site for commencement of drilling.\n \n \n \n \n \n Naheed Memon, CEO of Oracle, commented\n :\n \n \n \"It is great to have the PoW approved, which allows Oracle to commence drilling at Jundee East. Local contractors, BMGS, will seek to secure a drill rig and, once availability is confirmed, we will update shareholders\n .\"\n \n \n \n \n \n Click on, or paste the following link into your web browser, to view the associated PDF document with pictures included:\n \n \n \n \n \n About The Jundee East Project:\n \n \n \n \n \n The Jundee East Project is comprised of one exploration licence (E53/2140) and located ~7km due east of the Jundee Gold Mine, Figure 1. The area of the Project is 29 blocks (~90km2). The Project is located within the Yandal Gold Province, a Tier 1 gold belt, host to numerous multi-million-ounce gold systems. The Jundee East Project represents a previously unrecognised greenstone belt proximal to the Jundee Gold Mine, host to previous production of >7Moz gold and which has a current Resource of 5.4Moz. \n \n \n \n \n \n Five targets have been identified by the Company from geochemical sampling undertaken to date for the maiden drill programme.\n \n \n \n \n \n \n \n \n Figure \n \n \n 1: Jundee East Project location Map showing proximity to the Jundee Gold Mine\n \n \n \n \n http://www.rns-pdf.londonstockexchange.com/rns/0...