Oracle Power PLC
01 October 2026
1 October 2026
Oracle Power PLC
(“Oracle” or the “Company”)
Mining Plan submitted for Northern Zone Gold Project
Oracle Power PLC (AIM:ORCP), an international project developer, is pleased to announce that the requisite Mine Development and Closure Proposal (MDCP) has now been lodged with the Western Australian Department of Mines, Petroleum and Exploration (DMPE), in respect of the Northern Zone Gold Project (M25/389) (see Figure 1).
Highlights
- Mine Development and Closure Proposal for the planned Northern Zone open pit, located 25km east of Kalgoorlie, lodged with the WA Department of Mines, Petroleum and Exploration (DMPE) on schedule on 30 September 2026.
- The MDCP is the last major governmental regulatory approval required before mining can commence.
- This follows the grant of Mining Lease M25/389 (21-year term) in July 2026 and lodgment of the Native Vegetation Clearing Permit (NVCP) application with the Department of Water and Environmental Regulation (DWER) on 28 August 2026.
- All objections to haul road Miscellaneous Licences L25/75 and L25/77 resolved; formal grant pending.
- Future mining operations are to be fully funded by MEGA Resources under the 50/50 Right to Mine and Co-operation Agreement (as announced by the Company on 30 September 2025) – no upfront development funding required from Oracle.
- The MEGA Resources Right to Mine and Co-operation Agreement has also been extended to 30 September 2027 to allow for extra time for the relevant government bodies to approve the NVCP and MDCP to enable mining operations to commence.
Naheed Memon, CEO of Oracle, commented:
“Lodging the MDCP represents a major step forward. With the mining lease granted, the surface vegetation clearing permit application lodged and the haul road objections resolved, Northern Zone can now move towards securing final governmental permitting. Together with our mining and funding partners, MEGA Resources, and our joint venture partner, Riversgold Limited, we are well placed to move this exciting gold project near Kalgoorlie towards breaking ground.
“The MDCP brings together months of technical work, including geotechnical drilling for pit design, ground water studies, environmental baseline studies and closure planning. It provides regulators with a clear, well-supported plan for a safe, responsible operation at Northern Zone. Northern Zone is a blind porphyry intrusion that has been diamond drilled to a vertical depth of over 500m and has demonstrated pervasive near surface gold mineralisation to widths approaching 600m[1]. The MDCP encompasses a starter pit operation covering the weathered and transition zones with road transport to third-party processing facilities in the goldfields.”
Background to the MDCP
The MDCP is the principal operating approval for a mining project in Western Australia. It combines the mining proposal and mine closure plan into one document for assessment by DMPE.
The Northern Zone MDCP covers the open pit dimensions and disturbance footprint (ha), waste rock landform, ROM pad, haul road access, water management and site infrastructure. It was prepared by Riversgold and MEGA Resources / Resources WA, and also includes baseline environmental, heritage and geotechnical studies.
Northern Zone geology
The Northern Zone gold mineralisation is hosted within a blind porphyry, a Tonalite-Trondhjemite Intrusion (TTI), which sits within the Cannon Shear Zone. The TTI carries elevated background gold, with multiple series of flat-lying gold-mineralised higher grade quartz zones within it. Because the higher-grade mineralisation is flat-lying, vertical drill holes intersect it at close to true width. Further drilling is required to define the ultimate limits of the mineralisation identified to date. Northern Zone is open in all directions.[2]
Drilling to date shows the TTI to be dry to at least 60m depth. This has made the deposit well suited to the air-core and reverse circulation (RC) drilling methods the Company has utilised.
Pathway to mining
|
Approval |
Status |
|
Mining Lease M25/389 |
Granted July 2026 |
|
Haul road licences L25/75 and L25/77 |
Objections resolved; grant pending |
|
Native Vegetation Clearing Permit |
Lodged with DWER on 28 August 2026 |
|
Mine Development and Closure Proposal |
Lodged with DMPE on 30 September 2026 |
Deed of Extension - Right to Mine and Co-operation Agreement
The Right to Mine and Co-operation Agreement dated 30 September 2025 (RMCA) between Riversgold Ltd (ACN 617 614 598), Oracle Gold Pty Ltd (ACN 646 363 064), MEGA Resources Pty Ltd (ACN 680 350 556) and Bain Global Resources Pty Ltd (ACN 664 564 961), has been extended for 12 months to 30 September 2027, on the same terms and conditions precedent, allowing time for all permits to be granted and mining operations to commence, which is expected to occur well within the extension timeframe.
Next steps
- DMPE assessment of the MDCP and response to any further information requests.
- Grant of the NVCP permit and the various haul road Miscellaneous Licences.
- Site establishment and mobilisation by MEGA Resources once all government approvals are in place.
For further information on Oracle, visit the Company’s website at http://www.oraclepower.co.uk or contact:
Oracle Power PLC
Naheed Memon - CEO+44 (0) 203 580 4314
Strand Hanson Limited (Nominated Adviser & Broker)
Rory Murphy, Matthew Chandler, Rob Patrick+44 (0) 20 7409 3494
St Brides Partners Limited (Financial PR)
Susie Geliher, Isabel de Salis+44 (0) 20 7236 1177
This announcement contains inside information for the purposes of Article 7 of EU Regulation No. 596/2014, which forms part of United Kingdom domestic law by virtue of the European Union (Withdrawal) Act 2018, as amended by virtue of the Market Abuse (Amendment) (EU Exit) Regulations 2019.
Competent Person’s Statement
The technical information in this announcement is based on information compiled by Mr Edward Mead, who is a Fellow of the Australasian Institute of Mining and Metallurgy. Mr Mead is a director of Riversgold Ltd and a consultant to the Company through Doraleda Pty Ltd. Mr Mead has sufficient experience which is relevant to the style of mineralisation and type of deposits under consideration and to the activity that he is undertaking to qualify as a Competent Person as defined in the 2012 edition of the Australasian Code for Reporting Exploration Results, Mineral Resources and Ore Reserves (the JORC Code). Mr Mead consents to the inclusion of this information in the form and context in which it appears in this announcement.
Figure 1: Location of Northern Zone Project showing proximity to the Kalgoorlie “Super Pit”, Golden Mile/Fimiston
[1] Announcement dated 19 September 2024: Northern Zone Gold Project Drill Results.
[2]Announcement dated 19 January 2026: Positive Results: Kalgoorlie Drilling Programme.
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