Oil pressure issue?

[1990ZR1#1012]

New Member with a '90 ZR1#1012 with just over 31k miles on it. Just took ownership three days ago and have been driving it and getting acquainted when I had this oil pressure gauge skyrocketing issue occur while on the way home from work yesterday.

Did a ton of research on the vehicle (a lot of it here) and test drove it twice prior to purchase. Very grateful to have this place as a resource. Have a feeling I'll be spending a lot of time here as I drive it and work on it as things happen.