Oracle Power (AIM:ORCP) has completed additional Work Area Clearance Surveys over its Northern Zone Intrusive Hosted Gold Project, located 25km east of Kalgoorlie in Western Australia.
The AIM-listed project developer said the new heritage and flora/fauna clearance surveys are needed to secure unrestricted access to infrastructure and transport corridors serving the site.
Final survey deliverables are expected shortly and will feed into the Mine Development and Closure Proposal.
That proposal remains on schedule for submission to the Department of Mines, Petroleum and Exploration in early September.
"With access to these corridors now cleared, we can progress infrastructure planning with our partners with confidence and remain firmly on track to submit our Mine Development and Closure Proposal to the Department of Mines, Petroleum and Exploration in early September," said Naheed Memon, chief executive of Oracle.
The Northern Zone Gold Project sits near Kalgoorlie's Super Pit at Golden Mile/Fimiston, one of Australia's best-known gold mining districts.
News Intelligence what this means for the company
Oracle Power has completed heritage and flora/fauna surveys at its Northern Zone Gold Project near Kalgoorlie, clearing access to infrastructure and transport corridors needed for mine development. The company remains on track to submit its Mine Development and Closure Proposal to Western Australia's Department of Mines, Petroleum and Exploration in early September—a regulatory step that the company previously identified as the key trigger before an operating permit can be issued and mining may commence.
The survey completion is a procedural milestone that removes a near-term permitting risk, but does not materially alter the company's development timeline or funding structure. MEGA Resources has agreed to fully fund development and mining operations under a 50/50 profit-share framework, so regulatory progress does not require Oracle Power to deploy capital.
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