Oracle Power reports drilling results at Western Australia gold project
Published by Jane Bentham,
Editorial Assistant
Global Mining Review,
Oracle Power has reported that its potential farm-in partner, Riversgold Ltd, has received the assay results from a diamond drilling programme at the Northern Zone Intrusive Hosted Gold Project, which is located 26 km east of Kalgoorlie in Western Australia.
Highlights:
- Diamond drilling of entire gold-mineralised central cross-section to 450 m vertical depth has validated previous Exploration Model.
- Previously announced Exploration Target of 200 Mt – 250 Mt at a grade of 0.4 g/t Au - 0.6 g/t Au for an exploration target of 2.5 Moz – 4.8 Moz of gold.
- High gold recovery of 92.9% (average) after 24-hr bottle roll cyanide extraction.
- Drill programme has:
- Confirmed the gold mineralisation style.
- Confirmed gold mineralisation widths and gold grades
- Structural orientation of the gold mineralisation.
Naheed Memon, CEO of Oracle, commented:
“With the Australian dollar gold price now pushing through AUS$3100/oz, the commerciality of these types of large-scale lower grade gold deposits becomes significantly more viable. The potential scale of this project linked to its good indicative conventional gold recoveries and its great location, being so close to Kalgoorlie, makes Northern Zone a highly attractive project to drill out. The four diamond drill holes on this cross-section confirmed the gold prospectivity of the Northern Zone Project and we look forward to drilling further along strike to start building a maiden JORC compliant resource early in the new year.”
Read the article online at: https://www.globalminingreview.com/mining/19122023/oracle-power-reports-drilling-results-at-western-australia-gold-project/
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