Oracle Power intersects more gold at Kalgoorlie
By Josh White
Date: Monday 19 Jan 2026
(Sharecast News) - Oracle Power said in an update on Monday that further drilling at its Kalgoorlie Gold Project had continued to intersect shallow gold mineralisation, extending the footprint of the Northern Zone and supporting plans for near-term mine development.
The AIM-traded company reported assay results from a further 21 drillholes at the Northern Zone intrusive-hosted gold project, with additional results from 16 drillholes expected shortly.
Recent significant intersections included eight metres at 5.81 grams of gold per tonne from 46 metres, seven metres at 3.48 grams per tonne from 48 metres, five metres at 3.13 grams per tonne from 41 metres, and four metres at 2.28 grams per tonne from 43 metres.
Oracle said the results continued to demonstrate shallow oxide gold mineralisation as drilling expands across the northern and saddle areas of the project.
The firm said the latest drilling had successfully intersected mineralisation across a widening area, validating its broader geological model and indicating the potential for a substantial zone of shallow oxide mineralisation overlying the Northern Zone porphyry system.
A drill rig had been booked from 10 February to continue expanding the oxide gold footprint, while the process of converting the project to a mining lease is ongoing, with the heritage agreement described as a major milestone.
Work had also started on the mine development and closure plan and associated environmental assessments with Resource WA.
"We believe these results are very impressive and add significant upside to the project for our plans with our partners for gold production targeted for later this year," said chief executive Naheed Memon.
He added that modelling suggested the mineralisation could form part of an approximately 600-metre-wide zone of shallow oxide mineralisation and said the company was encouraged by developments within its joint venture partnership, noting recent shareholder changes at Riversgold involving MEGA Resources.
Oracle said the two most recent drilling programmes were designed to expand gold mineralisation within the top 50 to 60 metres of the Kalgoorlie project and to support mine planning for potential production in 2026.
The company said further assay results due in the coming weeks would help refine its geological model and underpin the next stages of development.
At 1309 GMT, shares in Oracle Power were down 22.67% at 0.06p.
Reporting by Josh White for Sharecast.com.
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