REG - Wishbone Gold PLC - Acquisition of Tenement Contiguous to Cottesloe

Wishbone GoldAnnouncement

11/01/2023 07:00

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RNS Number : 3647M  Wishbone Gold PLC  11 January 2023

This announcement contains inside information for the purposes of Article 7 of
the Market Abuse Regulation (EU) 596/2014 as it forms part of UK domestic law
by virtue of the European Union (Withdrawal) Act 2018 ("MAR"), and is
disclosed in accordance with the Company's obligations under Article 17 of MAR

 

 

 11(th) January 2023

 

Wishbone Gold Plc

("Wishbone" or the "Company")

Wishbone Gold Plc / Index: AIM: WSBN / Sector: Natural Resources / AQSE: WSBN

 

Acquisition of Tenement Contiguous to Cottesloe Project

 

Paterson Range, Western Australia

 

 

Wishbone Gold Plc (AIM: WSBN, AQSE: WSBN), is pleased to announce that it has
acquired 100% of tenement application E45/ 6456 (Cottesloe East) covering 19
blocks (62km(2)) in the Paterson Range, Western Australia. The Cottesloe East
tenement is contiguous to the Cottesloe Project (E45/4543) which is already
owned by Wishbone, and brings the total project area to 50 blocks covering an
area of 165km(2) (Figure 1). This has been acquired by staking the ground for
a total cost of A$50,000.

 

Continued internal assessment of the Cottesloe prospect led to our examination
of the prospectivity of Cottesloe East. We will now combine the data sets from
both prospects and work towards an expanded exploration program, subject to
Heritage consents.

 

Thus far the analysis suggests that the established anomalies on Cottesloe
extend into Cottesloe East as the new tenement contains the extension of the
target sedimentary basin of the prospective Broadhurst formation.

 

Richard Poulden, Wishbone Gold's Chairman, commented;

"The silver and lead present in Cottesloe are critical for the production of
batteries and thus for the push into electric vehicles across the world.
Combining the Cottesloe and Cottesloe East Projects creates a substantial
holding with historic impressive drilling results providing a solid basis for
further exploration."

 

 

 

Figure 1 - Cottesloe and Cottesloe East, Paterson Ranges - Geology/Magnetics

 

 

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 Paterson Range province of
Western Australia. Cottesloe consists of one granted exploration license
E45/4543 and is considered prospective for precious and base metals.

 

Historic drilling results within Cottesloe show:

 

·    SCR225: 5m at 102g/t Ag from 14m

o Including: 2m at 165g/t Ag

·    SCR247: 2m at 73g/t Ag & 4.6% Pb from 8m

·    EWP-2: 22m at 42.7g/t Ag from 8m

o Including 8m at 72.13g/t Ag from 22m

·    EWP-3: 18m at 29.3g/t Ag from 6m

·    EWP-7: 20m at 35.9g/t Ag from 2m

o Including 2m at 100g/t Ag from 8m & 4m at 69g/t Ag from 16m

·    EWP-11: 4m at 41.25g/t Ag from 14m & 10m at 41.6 g/t Ag from 24m

·    EWP-12: 8m at 58.37g/t Ag from 20m

·    EWP-24: 8m at 54.87g/t Ag from 40m

Historical rock chip geochemical sampling results reported up to 298g/t Ag.

 

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

 Peterhouse Capital Limited
 (Broker)
 Lucy Williams and Duncan Vasey                            Tel: +44 20 7469 0930

 

 

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.

 

 

 

 

Figure 2: Cottesloe Project Location Plan - Paterson Range Western Australia

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