Oracle Power appoints Apex for Blue Rocks Valley exploration

20th Dec 2024 12:07

(Sharecast News) - Oracle Power announced on Friday that it has appointed Apex Geoscience to lead exploration activities at the Blue Rocks Valley Copper and Silver Project in Western Australia's Ashburton Basin.

The AIM-traded firm said the move marked a significant step in advancing the high-grade project, which had demonstrated strong copper mineralisation through previous sampling.

It said Apex was set to begin a geochemical sampling program early next year - a key step in refining drilling targets across the project's mineralised zone.

That, the company said, would complement existing geophysical data, including a ground gravity survey that identified multiple targets along a two-kilometre mineralised trend.

The company said it was also evaluating additional exploration techniques, such as a drone-based mobile MT system from Expert Geophysics, to further delineate resources.

Oracle said the Blue Rocks Project had yielded promising results, with rock chip and grab samples confirming high-grade copper mineralisation, including notable assays of 25.7%, 18.21%, and 12.34% copper.

The upcoming geochemical programme would refine targets for future drilling, positioning Oracle to advance the project's development as it continued to focus on unlocking value from the high-potential asset.

"It is great to now bring Apex into the project to undertake exploration for copper over the gravity anomalies that strike over approximately two kilometres of the high-grade copper rock chip samples," said Oracle chief executive officer Naheed Memon.

"Geochemical sampling has been confirmed as the next step to advance the project towards drilling and will be used as a multi-vector to rank gravity anomalies for priority drilling.

"We look forward to updating shareholders in due course as we continue advancing this exciting project."

At 1141 GMT, shares in Oracle Power were down 1.15% at 0.03p.

Reporting by Josh White for Sharecast.com.