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(Sharecast News) - Oracle Power reported further strong drilling results from its Northern Zone gold project in Western Australia on Wednesday, highlighting high-grade intercepts as it continues to expand the project's footprint.
The AIM-traded developer said assay results from 31 drillholes in its first 2026 campaign included intercepts such as 15 metres at 5.62 grams per tonne, eight metres at 9.90 grams per tonne and 10 metres at 3.81 grams per tonne, with individual metre grades reaching up to 71 g/t gold.
It said the results were among the best recorded at the project to date in terms of both grade and width.
The company said drilling continued to intersect shallow gold mineralisation, extending the lateral footprint of the deposit and validating its broader geological model.
Recent work also successfully tested the area between the central saddle and eastern mineralised zone, further supporting the continuity of the system.
Oracle noted that conversion of the Northern Zone tenement to a mining lease was well advanced and expected in the coming weeks, while required heritage clearance surveys have been completed.
Development of the project was being advanced in partnership with Riversgold, which has a right-to-mine and co-operation agreement with MEGA Resources.
Under the agreement, MEGA would fund development and mining in return for a 50-50 profit share.
"These latest results evidence some of the best intercepts for grade and width that have been drilled at the Northern Zone project so far," said chief executive Naheed Memon.
"This last set of drill holes were designed to start testing the shallow 'saddle' area and the results will serve to enhance MEGA Resources' mining scenario for 2026."
She added that continued drilling is expanding the scale of the project.
"The strong results continue to expand the lateral footprint of the Northern Zone as we seek to make the Project materially bigger in the oxide zone.
"The more we drill laterally, the more gold we find on the top of this porphyry gold system and these exceptional drill results can guide us towards the next drill programme."
At 1324 BST, shares in Oracle Power were up 30.8% at 0.07p.
Reporting by Josh White for Sharecast.com.
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