Wishbone Gold PLC - precious metals trading and exploration company - Applies for a new exploration licence to the south and west of its licences in northern Queensland, Australia, which increases the land tenure in this exciting gold region to 208 square kilometres.
The new tenement, covering an area of 61.2 square kilometres is located only 15 kilometres north-west of the Ravenswood gold mine, which was recently sold by Resolute Mining Ltd in a deal worth AUD300 million, about USD221 million, after Resolute successfully mined and processed over 40 million tonnes of ore in the past 15 years and produced almost two million ounces of gold.
The new exploration licence application, covering 19 full blocks has been accepted by the Queensland government Department of Natural Resources, Mines & Energy.
Chair Richard Poulden adds: "This is a strategic extension to the southern end of the Wishbone II EPM which our consultants believe should be incorporated in our exploration program. The EPM should be fully granted by the end of the first quarter 2021 and that is when exploration can begin."
Current stock price: 11.00 pence
Year-to-date change: up sharply from 1.90 pence
By Paul McGowan; paulmcgowan@alliancenews.com
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Wishbone (WSBN)
Resolute Mining (RSG)