Oracle Power PLC (LON:ORCP) has confirmed the presence of a newly identified substantial greenstone belt at its Jundee East gold project, located in the Eastern Goldfields region of Western Australia.
The new greenstone belt is located nine kilometres east of the Jundee gold mine. In addition, a high priority felsic intrusive related target has also been identified.
“We have further increased our confidence in the Jundee East target with the compelling results from the gravity survey Oracle has undertaken,” said Oracle Power chief executive Naheed Memon.
The high-priority intrusion-related target has been modelled across an extent of 12 kilometres and starts within 100 metres of the surface.
Follow up activities are now being planned. The programme will include planning and permitting of aircore drilling across the primary target areas. The aircore drilling programme aims to directly target mineralisation and get a further understanding of the bedrock lithologies.”
Gravity data is one of the main tools used in exploring under sediment cover, which is one of the primary challenges facing minerals exploration. The data can be used to create 3D models of the subsurface, providing a better understanding of the structure and geological setting.