LONDON (Alliance News) - Wishbone Gold PLC Wednesday said it had found the potential for gold and polymetallic mineralisation at its 100% owned White Mountain license in Queensland, Australia.
The exploration-and-development gold mining company, operating in Australia, said the 4,800 hectare White Mountain exploration programme comprised geochemical sampling and ground magnetic surveying which uncovered significant mineralised trends.
The company said the geochemical sampling indicated the existence of high-grade gold at 3.5 grams per tonne, along with antimony and copper mineralisation from rock samples taken from historical rocks previously dug at the site.
Wishbone said they are developing a comprehensive exploration programme to generate priority drilling targets at the site.
"Further updates on our progress will be provided in due course, as we look to prove up the prospectivity on the 34,700 hectares we currently hold across our four tenements, all of which are located in a proven gold-bearing region of Queensland Australia," Executive Chairman Richard Poulden said in a statement.
Wishbone shares were up 0.12 pence, or 4.8% to 2.75 pence in early trading Wednesday.
By Tom McIvor; tommcivor@alliancenews.com; @TomMcIvor1
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Wishbone (WSBN)