(Alliance News) - Wishbone Gold PLC on Wednesday hailed results from drilling at its Cottesloe project in Western Australia.
The Cottesloe project covers an area of around 165 kilometres squared, and is considered "highly prospective for precious and base metals", according to the Australia-focused metal exploration company.
Geological samples from the new holes, which contain high levels of base metal sulphides, are being delivered to the western Australian government in Perth in support of an application for an exploration incentive scheme drilling grant.
Wishbone Gold's Chair Richard Poulden said: "To have more visually encouraging results from the new holes drilled at Cottesloe is a great sign. 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."
Wishbone Gold shares were up 6.5% at 1.41 pence each in London at midday on Wednesday.
By Hugh Cameron, Alliance News reporter
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Wishbone (WSBN)