(Sharecast News) - Wishbone Gold updated the market on its ongoing diamond drill programme on Wednesday at the Cottesloe project in the Paterson Range of Western Australia.
The AIM-traded firm said the project encompassed three tenements, spanning 50 blocks and covering a total area of 165 square kilometres.
It said the latest drilling efforts at Cottesloe yielded promising visual results.
Certain zones within the project area displayed base metal sulphide concentrations ranging from 10% to 20%.
Additionally, portable x-ray fluorescence (pXRF) scans recorded elevated levels of base metals.
Geological core samples extracted from holes 23CTRCD0003 and 23CTRCD0002A were in transit to Perth.
Upon arrival, the samples would undergo a division process, with half slated for distribution to the Western Australian government as part of the drilling grant supported by the Exploration Incentive Scheme (EIS).
"To have more visually encouraging results from the new holes drilled at Cottesloe is a great sign," said chairman Richard Poulden.
"We look forward to having the assays completed and mapping the mineralisation for next year's drill campaign to get a clearer view of the asset."
At 1332 GMT, shares in Wishbone Gold were up 6.06% at 1.4p.
Reporting by Josh White for Sharecast.com.
Wishbone (WSBN)