(Alliance News) - Oracle Power PLC on Monday reported "highly positive" geochemical sampling results from its survey at the Jundee East gold project in the Eastern Goldfields region of Western Australia.
Geochemical sampling results from Oracle's maiden orientation survey found positive test results for both copper and gold.
The natural resources & power project developer said the programme represented a "successful test" which will now be expanded to assist with maiden drill targeting.
AIM-listed Oracle Power shares were trading 3.2% higher in London on Monday morning at 0.49 pence each.
Chief Executive Naheed Memon commented: "Jundee East represents an exceptionally exciting prospect for Oracle in one of the most prolific gold producing regions globally.
"These positive results from the orientation soil geochemistry programme confirms we are on the right path to unlocking the potential of this new unexplored area. The soil sampling programme will now be expanded to better inform a maiden drill programme which we believe will lay the foundations for an Australian Joint Ore Reserves Committee resource."
By Will Paige; willpaige@alliancenews.com
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