Last checked at 4 Jun 2021 11:31
The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulation (EU) No. 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 ("MAR")
Please click the following link to view the figures and illustrations included in the below announcement:
https://wishbonegold.com/images/2021/06/WSBN_RNS_210604_Drilling_Approved_for_Cottesloe_Project_la7d.pdf
4 June 2021
Wishbone Gold Plc
("Wishbone" or the "Company")
Wishbone Gold Plc / Index: AIM: WSBN / Sector: Natural Resources / AQSE: WSBN
Drilling Approved for Cottesloe Silver / Base Metals Project
92km2 Cottesloe Project - 35 km south-east of Wishbone's Red Setter Project in the Patersons Range province of Western Australia
Wishbone Gold Plc today announces that its initial Program of Works ("POW") for its Cottesloe Silver Project has been approved by the Western Australian Government's Department of Mines, Industry Regulation and Safety ("DMIRS"). This POW provides for the drilling of 20 reverse circulation drill holes to depths of 250 metres that are designed to test for potential precious and base metals mineralisation on multiple targets previous identified from historic exploration.
Richard Poulden, Wishbone Gold's Chairman, commented,
"We see the potential for Cottesloe to host both precious metals and base metals based on historic exploration work. As Cottesloe is very close to Red Setter, the Company's exploration consultants Terra Search will run Cottesloe's exploration concurrently with our work at Red Setter and service the exploration efforts from the Telfer based camp."
The Cottesloe Project:
As previously reported on 3 March 2021, the Cottesloe Project is located around 55 km south of Newcrest Mining's Telfer Gold Mine and about 35 km south-east of Wishbone's Red Setter Project in the Patersons Range province of Western Australia. Cottesloe consists of one granted exploration license E45/4543 and is considered highly prospective for precious and base metals.
Historic Exploration Highlights:
· Mineralisation trends interpreted to be over a 12km strike
· Rock chip geochemical sampling results reported up to 298g/t Ag
· Multiple significant drilling results including:
o SCR225: 5m at 102g/t Ag from 14m
§ Including: 2m at 165g/t Ag
o SCR247: 2m at 73g/t Ag & 4.6% Pb from 8m
o EWP-2: 22m at 42.7g/t Ag from 8m
§ Including 8m at 72.13g/t Ag from 22m
o EWP-3: 18m at 29.3g/t Ag from 6m
o EWP-7: 20m at 35.9g/t Ag from 2m
§ Including 2m at 100g/t Ag from 8m & 4m at 69g/t Ag from 16m
o EWP-11: 4m at 41.25g/t Ag from 14m & 10m at 41.6 g/t Ag from 24m
o EWP-12: 8m at 58.37g/t Ag from 20m
o EWP-24: 8m at 54.87g/t Ag from 40m
Further details on the prospectivity of these tenements and the future exploration plans will be advised to the market in due course.
Figure 1: Cottesloe Project Location Plan - Patersons Range Western Australia (see PDF link above to view)
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For further information, please contact:
Wishbone Gold PLC |
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Richard Poulden, Chairman | Tel: +44 7551 863 830 |
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Beaumont Cornish Limited |
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(Nominated Adviser and AQUIS Exchange Corporate Adviser) |
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Roland Cornish/Rosalind Hill Abrahams | Tel: +44 20 7628 3396 |
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Peterhouse Capital Limited |
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(Broker) |
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Lucy Williams and Duncan Vasey | Tel: +44 20 7469 0930 |