Sam is a professional trader and the lead stock market news writer at AskTraders. After starting his career in the forex market, Sam now focuses on gold and stocks with a preference for fundamental and macroeconomic analysis.
Oracle Power (LON: ORCP) announced on Wednesday that it has secured an exploration crew at its 100% owned Jundee East Gold Project, located in the Eastern Goldfields region of Western Australia.
The company will now start the geochemical soil sampling programme in late June 2021, covering most of the 90 km2 tenement.
The geochemical programme will expand on the maiden geochemical sampling results to expand on the previous programme to cover the entire tenement to identify other potential drill targets before drilling activities.
980 samples will be collected, with the programme expected to take approximately two weeks, with results expected around four weeks after submission to the assay laboratory.
Naheed Memon, CEO of Oracle, commented: “Jundee East represents an exceptionally exciting prospect for Oracle in one of the most prolific gold producing regions globally. Positive results from the orientation soil geochemistry programme will now be expanded to cover nearly all the tenement.
“I am pleased to report that we have secured a sampling crew who are able to mobilise to site so quickly after we released the first pass results. The soil sampling programme, we believe, will continue to lay the foundations for a maiden drill programme later this year. The company is fully focused on drilling Jundee East as soon as possible.”
Oracle Power's share price is currently trading at 0.5p, up 5.26%. It is down 4.76% for the year to date.
Oracle Power shares are traded on the London stock exchange's AIM market (the alternative investment market), which is the submarket specifically for smaller companies. AIM stocks are attractive to investors as they have tax advantages and smaller companies have the potential to benefit from rapid growth. But are Oracle Power shares the best buy? Our stock market analysts regularly review the market and share their picks for high growth companies
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