Oracle Power begins sampling programme at Jundee East

Oracle Power announced on Monday that the geochemical sampling programme covering almost the entire tenement at its wholly-owned Jundee East Gold Project was now underway.

The AIM-traded firm said the new geochemical programme would expand on the maiden geochemical sampling programme, which returned the “highly positive” results announced on 14 June.

“Jundee East delivered highly compelling results from the maiden geochemical sampling programme and we are confident that this expanded programme will provide the company with a much more comprehensive insight into the mineralised footprint of this significant tenement area which covers an area of approximately 90square kilometres in one of the most productive gold regions globally,” said chief executive officer Naheed Memon.

“The sampling is expected to take 10 days, with assay expected four to six weeks after this.

“Jundee East represents an exceptionally exciting prospect for Oracle and this soil sampling programme will continue to lay the foundations for a maiden drill programme later this year.”

At 1021 BST, shares in Oracle Power were down 1.74% at 0.45p.