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(Sharecast News) - Oracle Power said in an update on Tuesday that drilling had resumed at its Northern Zone gold project in Western Australia, as it started a second programme aimed at expanding the defined mineralisation ahead of planned mine development.
The AIM-traded firm said the two-week campaign would comprise about 30 shallow holes totalling 2,000 metres, and followed October's phase one work, for which assay results are expected in the coming weeks.
Chief executive Naheed Memon said the latest drilling forms part of the company's plan to complete two programmes before year-end to "add to our gold footprint in the top 50 to 60 metres at our Kalgoorlie gold project, and to enhance the MEGA Resources mining scenario for 2026."
"First batches of assay results from the grade control rig drilling completed in October are expected to start coming through in the coming weeks," Memon added.
"Furthermore, this drilling will be used by Mega Resources in their mine planning for our joint plans to start mining in the first half of 2026."
At 1433 GMT, shares in Oracle Power were up 4.27% at 0.04p.
Reporting by Josh White for Sharecast.com.
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