This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 ("MAR"), and is disclosed in accordance with the Company's obligations under Article 17 of MAR
22 August 2023
Wishbone Gold Plc
("Wishbone" or the "Company")
Wishbone Gold Plc / Index: AIM: WSBN / Sector: Natural Resources / AQSE: WSBN
Drill Rigs Mobilised to Cottesloe then Red Setter
Wishbone Gold Plc (AIM: WSBN, AQSE: WSBN), is pleased to announce that specialist drill rigs and support trucks have been mobilised to its Cottesloe Project to start drilling the targets identified during the research programs undertaken earlier this year.
After the rigs finish drilling at Cottesloe they will mobilise to Wishbone's Red Setter Project, 35km to the north, and follow up to find the source of the mineralisation from last year's drill program and progress the analytical research previously undertaken on this property.
Strike Drilling is conducting both drill programs and it has conducted numerous other campaigns in the Paterson Range with great success.
As previously announced, the Cottesloe Project contains a basinal syncline of the Broadhurst Formation. This formation consists of a package of carbonaceous shales and siltstones with known pyritic horizons. The pyritic horizons have formed into gossanous ironstones at the surface and these have returned extensive base metal anomalism in the 0.1-1.1% Copper (Cu), 0.1-3.8% Lead (Pb), 0.1-0.4% Zinc (Zn), and 2-80g/t Silver (Ag) ranges. Other anomalous elements include Barium (Ba), Manganese (Mn), Cobalt (Co), Nickel (Ni), and Lead (Pb). Rotary Air Blast ("RAB") and Reverse Circulation ("RC") drilling in the keel of the syncline has confirmed extensive anomalies in the oxidized zone. Base metal anomalies with highest grades over 2 metre samples were 0.25% Copper (Cu), 4.6% Lead (Pb), 0.97% Zinc (Zn), 165g/t Silver (Ag) and 0.26% Cobalt (Co) with anomalous zones extending up to 34m as reported on the 17 July 2023.
Richard Poulden, Wishbone Gold's Chairman, commented: "We are excited to begin the drill program on both Cottesloe and Red Setter based on the extensive analysis of both properties. We believe we have the possibility of a major resource and look forward to proving it up."
The Cottesloe Project:
As previously reported on 3 March 2021, the Cottesloe Project is located around 55 km south of Newcrest's Telfer Gold Mine and about 35 km south-east of Wishbone's Red Setter Project in the Paterson Range province of Western Australia. The Project consists of three tenements totalling 50 blocks covering an area of 165km2 and is considered highly prospective for precious and base metals.
For more information on Wishbone, please visit the Company's website.
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For further information, please contact:
| Wishbone Gold Plc | |
| Richard Poulden, Chairman | Tel: +971 4 584 6284 |
| | |
| Beaumont Cornish Limited | |
| (Nominated Adviser and AQUIS Exchange Corporate Adviser) | |
| Roland Cornish/Rosalind Hill Abrahams | Tel: +44 20 7628 3396 |
| | |
| SP Angel Corporate Finance LLP | |
| (Broker) | |
| Ewan Leggat / Kasia Brzozowska | Tel: +44 20 3470 0470 |
| | |
| J&H Communications Ltd | |
| (Financial PR) | |
| George Hudson | Tel: +44 7803 603130 |
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