REG - Wishbone Gold PLC - Completion of Anketell Project Acquisition

Wishbone GoldAnnouncement

18/11/2022 11:15

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RNS Number : 9366G  Wishbone Gold PLC  18 November 2022

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

 

 

 

18 November 2022

 

Wishbone Gold Plc

("Wishbone" or the "Company")

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

 

Completion of Anketell Gold Copper Project Acquisition

and

Issue of Shares

 

 

Wishbone Gold Plc (AIM: WSBN, AQSE: WSBN), is pleased to announce it has
exercised the option to acquire the Anketell Gold-Copper Project as per the
agreement announced on 23 August 2022. The Anketell Gold- Copper Project is
located ~85km north of the Company's Red Setter Gold-Copper Project in the
Patersons Range area in Western Australia.

 

Accordingly, the Company will issue 2,170,795 new ordinary shares of 0.1 pence
each (the "Ordinary Shares") at a price of 14.75 pence per share equating to
£320,192.26. In addition, Wishbone will pay cash consideration of £50,000 as
set out in the acquisition terms.

 

Application will be made for the new Ordinary Shares, which will rank pari
passu with the existing Ordinary Shares in issue, to be admitted to trading on
AIM and the AQSE Growth Market ("Admission"). Dealings are expected to
commence on or around 24 November 2022.

 

As reported in the announcement of 26 September 2022, the magnetics of the
Anketell property have been modelled using typical susceptibility numbers.
 This produced a modelled body of some 1km diameter that is an obvious target
for exploration and drill targeting.  Figure1 shows this magnetic intrusive
body.

 

The Paterson province hosts several other Cu-Au orebodies including the Winu,
Telfer, Havieron and Nifty deposits which are generally considered to be
World-class.  These deposits vary in detail but are likely to all have a
genetic link to intrusive fluids.  Hence the Company's interest in discrete
magnetic anomalies such as is present at the Anketell property.  Antipa's
Citadel project surrounds the Anketell tenement and has several resources and
prospects with Minyari-WACA, Calibre and Magnum.  The Winu project sits
approximately 40km to the north east of the Anketell tenement and provides a
possible comparison model for Cu - Au - Ag veins within folded sediments above
interpreted granitic intrusives.

Total Voting Rights

 

The Company's total issued and voting share capital upon admission of the new
Ordinary Shares will consist of 198,912,868 Ordinary Shares. This figure may
be used by shareholders as the denominator for the calculations by which they
will determine if they are required to notify their interest in, or a change
to their interest in, securities of the Company.

 

For more information on Wishbone, please visit the Company's website
www.wishbonegold.com (http://www.wishbonegold.com) .

 

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.

 

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

Figure 1: Modelled intrusive bodies E45/6198

 

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