RCS - Wishbone Gold PLC - Encouraging Visual Results at Cottesloe

Wishbone GoldAnnouncement

13/11/2023 07:00

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20231113:nRSM2193Ta&default-theme=true

RNS Number : 2193T  Wishbone Gold PLC  13 November 2023

 

 

 

 

13(th) November 2023

 

Wishbone Gold Plc

("Wishbone" or the "Company")

 

Encouraging Visual Results at Cottesloe

 

Paterson Range, Western Australia

 

Wishbone Gold Plc (AIM: WSBN, AQSE: WSBN) announces an update regarding the
current diamond drill program at its Cottesloe project located in the Paterson
Range in Western Australia. The project consists of three tenements totalling
50 blocks covering an area of 165km(2) and is considered highly prospective
for precious and base metals.

 

The first hole has already returned encouraging mineralised results with
highlights as follows:

 

·    The first diamond tail, 23CTRCD0004A, is at a current depth of 190m
within what is interpreted to be hanging wall shales and siltstones with some
disseminated pyrite.

·    A sulphidic breccia has been intersected over 7m with a strong pyrite
matrix and siltstone clasts with minor chalcopyrite from around 128m.

·    A further 20m brecciated and broken zone from 170m is highly
oxidised, haematitic and boxworked likely after pyrite with soft clay zones
causing core loss.

·    It is highly encouraging to see a sulphidic breccia within the
system, even with minor chalcopyrite, although the relationship between this
and any mineralisation at depth or along strike is to be determined.

·    The target zone is expected to be encountered at approximately 250m
and continue to a depth of 400m or deeper if sufficiently encouraging.

Assays will be completed after the drill program is complete and should take
6-8 weeks. The Company expects results to be available in January 2024.

 

Richard Poulden, Wishbone Gold's Chairman, commented:

"It is great news to have hit such interesting mineralisation and still not at
target depth. We look forward to the assay results once the drill program is
completed and anticipate more good news."

 

Figure 1 - Brecciated shale with substantial pyrite (+ minor chalcopyrite)
matrix 133.7m

 

Figure 2 - Drill tray containing oxidised, brecciated gossanous zone from
184-189m

 

Figure 3 - core containing quartz carbonate vein, pyrite and minor
chalcopyrite 134.2m

 

Figure 4 - Oxidised brecciated core with Goethite, Haematite and Manganese
Oxides 186m.

 

The Cottesloe Project:

As previously reported on 3(rd) March 2021, the Cottesloe Project is located
around 55km south of Newcrest's Telfer Gold Mine and about 35km south-east of
Wishbone's Red Setter Project in the Paterson Range province of Western
Australia. The Project consists of is three tenements totalling 50 blocks
covering an area of 165km(2) and is considered highly prospective for precious
and base metals.

 

For more information on Wishbone, please visit the Company's website.

www.wishbonegold.com (http://www.wishbonegold.com) .

END

For further information, please contact:

 

 Wishbone Gold PLC
 Richard Poulden, Chairman                                 Tel: +971 4 584 6284

 Beaumont Cornish Limited
 (Nominated Adviser and AQUIS Exchange Corporate Adviser)
 Roland Cornish/Rosalind Hill Abrahams                     Tel: +44 20 7628 3396

 SP Angel Corporate Finance LLP
 (Broker)
 Ewan Leggat / Kasia Brzozowska                            Tel: +44 20 3470 0470

 Soho Communications Ltd
 (Financial PR)
 George Hudson                                             Tel: +44 7803 603130

 

Competent Persons Statement

 

The information in this report that relates to the reporting of exploration
results has been compiled by Mr David Jenkins, a full time employee of Terra
Search Pty Ltd, geological consultants employed by Wishbone Gold PLC.  Mr
Jenkins is a Member of the Australian Institute of Geoscientists and has
sufficient experience in the style of mineralisation and type of deposit under
consideration and the activity which they are undertaking to qualify as
Competent Persons as defined in the 2012 Edition of the Australasian Code for
Reporting of Exploration Results, Minerals Resources and Ore Reserves ("JORC
Code"). Mr Jenkins consents to the inclusion in the report of the matters
based on the information in the form and context in which it appears.

 

Appendix

 

Sulphidic breccia is a rock composed of large angular broken fragments
of minerals or rocks cemented together by a fine-grained matrix

 

Chalcopyrite is a copper iron sulfide mineral and the most abundant copper ore
mineral.

 

Shales are a soft finely
(https://www.google.com/search?sca_esv=580697965&rlz=1C1KNTJ_enAE1075AE1075&q=finely&si=ALGXSlZs_yOcjbcvFwhB4E04oe9YhurVi88vMXaz8NwFKBlRiLG1eptxTgBmZ5a5og-WTCCpOuCJ6QcbbIIWCUDDTiN44y8V3Q%3D%3D&expnd=1)
 stratified
(https://www.google.com/search?sca_esv=580697965&rlz=1C1KNTJ_enAE1075AE1075&q=stratified&si=ALGXSlbK6dNKc3P-z0hratVoTzWI1VOaOfYvWsXKtViPLD6Ge3cGWBZtEbfJua3fd6IlODKzEJ7LBxZ1JPlHbI6j5M2HZlZ01Ime3BNeFwHQyyAjH1C9lrI%3D&expnd=1)
 sedimentary
(https://www.google.com/search?sca_esv=580697965&rlz=1C1KNTJ_enAE1075AE1075&q=sedimentary&si=ALGXSlYpmWhtmlIZKYHTCPXiYmMEQol-qsSNeuoWCVwGrYOuIcD8mg7TDXe0gBSRI0mE-iLSnXbQqdb4WH6DN-bOCcxWvjWMCl4xkXDgHIJGbgQMwoRFGWo%3D&expnd=1)
 rock that formed from consolidated mud or clay and can be split easily
into fragile plates.

 

A siltstone is a lithified, nonfissile mudrock. In order for a rock to be
named a siltstone, it must contain over 50% silt-sized material. Silt is any
particle smaller than sand.

This information is provided by Reach, the non-regulatory press release distribution service of RNS, part of the London Stock Exchange. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  NRAKZMMMKFNGFZG