REG - Wishbone Gold PLC - Drilling Update at Halo Copper Gold Project

Wishbone GoldAnnouncement

24/06/2022 11:45

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20220624:nRSX1355Qa&default-theme=true

RNS Number : 1355Q  Wishbone Gold PLC  24 June 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

 

 

 Please click the following link to view the figure(s) and illustration(s)
included in the below announcement:

https://wishbonegold.com/wp-content/uploads/2022/06/WSBN-RNS-220624-Drilling-Update-at-Halo-Copper-Gold-Project-gak3.pdf
(https://wishbonegold.com/wp-content/uploads/2022/06/WSBN-RNS-220624-Drilling-Update-at-Halo-Copper-Gold-Project-gak3.pdf)

 

 

24 June 2022

 

Wishbone Gold Plc

("Wishbone" or the "Company")

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

 

DRILLING UPDATE AT HALO COPPER GOLD PROJECT

 

Queensland, Australia

 

Wishbone Gold Plc (AIM: WSBN, AQSE: WSBN), is pleased to update the market
regarding the Wishbone II Gold-Copper drill program at its 100% owned Halo
Project in North Queensland.

 

Drilling at Halo is proceeding to plan with Terra Search logging copper
mineralisation in the majority of holes drilled to date in this phase of
drilling. Encouragingly, malachite in oxide sections and chalcopyrite in
primary sulphide sections have been logged over significant intervals of
several metres.

 

Several composition granitic and dioritic plutonic rocks are present, most of
which are affected to some degree by hydrothermal alteration associated with
intrusive related mineralisation. Conspicuous red K feldspar alteration is
noted accompanied by disseminated and veined chalcopyrite and also chlorite
and probable magnetite. This mineral assemblage is often present in the higher
temperature core of intrusive related mineral systems such as higher level
porphyry style. The general impression is that Halo Prospect is possibly at
the deeper plutonic level, however given the proximity to the 5 million ounce
Ravenswood Gold Mine, elements of a similar high level intrusive system may
also be present.

 

Wishbone Gold's Hole # 21 is the most promising hole to date. Preliminary
results indicate an oxide copper section  of 20 metres showing high levels of
visible malachite (Fig 1) . An encouraging high grade primary copper zone
occurs at depth in this hole, particularly prominent at 91m-92m where abundant
disseminated chalcopyrite occurs within a K feldspar altered granitic rock
(Fig 2).

 

Samples from the first holes have been sent to the lab for analysis.

 

Wishbone Gold's QLD Exploration properties are situated in the highly
prospective Charters Towers-Ravenswood district in north Queensland's premier
gold province. They consist of 54 sub-blocks amounting to 174 km(2) of wholly
owned licences and located only 10km from 5 million Oz Ravenswood gold mine.

Richard Poulden, Wishbone Gold's Chairman, commented, "The major copper
intercepts are hugely important. Copper is going to remain one of the key
strategic metals globally, possibly the most important one, in future years as
we move to green sources of electricity. Copper is needed not only for
transmission of electricity but also storage and is key in all these areas."

 

 

 

Fig 1: Hole 22WBRC021 Reverse Circulation drill chips of high grade oxide
copper : prominent malachite stained and fracture coatings within aplitic
granite ,top of hole 12m to 20m. Lab results awaited - click link above to
view

 

 

.

Fig 2. Hole #21 : 22WBRC021 91m to 92m . Reverse Circulation drill chips of
high grade primary copper Abundant disseminated chalcopyrite in red K feldspar
, dark chlorite altered granitic rock . Lab results awaited. - click link
above to view

 

Fig 2. Hole #21 : 22WBRC021 91m to 92m . Close up of Reverse Circulation drill
chips of disseminated chalcopyrite in red K feldspar , dark chlorite altered
altered granitic rock. - click link above to view

 

 

Full technical details and news releases on the Wishbone II assets can be
viewed on the Company's website at
https://wishbonegold.com/projects/wishbone-ii-iv-vi/
(https://wishbonegold.com/projects/wishbone-ii-iv-vi/)

 

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

 

The information in this report that relates to the reporting of exploration
results has been compiled by Dr Simon D. Beams, a full-time employee of Terra
Search Pty Ltd, geological consultants employed by Wishbone Gold Pty Ltd to
carry out exploration over their Wishbone 2,4 and 6 EPMs. Dr Beams has BSc
Honours and PhD degrees in geology; he is a Member of the Australasian
Institute of Mining and Metallurgy (Member #107121) and a Member of the
Australian Institute of Geoscientists (Member # 2689).  Dr Beams has
sufficient relevant experience in respect of the style of mineralization, the
type of deposit under consideration and the activity being undertaken to
qualify as a Competent Person within the definition of the 2012 Edition of the
AusIMM's "Australasian Code for Reporting of Exploration Results, Mineral
Resources and Ore Reserves".

 

Laboratory analyses are underway at internationally recognised, independent,
commercial laboratories. Internal results reported here for the first time
have been accompanied by industry standard QA/QC checks.

 

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

Glossary of terms

 

Malachite - a copper carbonate hydroxide mineral, with the formula
Cu₂CO₃(OH)₂.

Chalcopyrite - a copper iron sulfide mineral and the most abundant copper ore
mineral

Diorite - an intrusive igneous rock formed by the slow cooling underground of
magma

Chlorites  - a group of phyllosilicate minerals common in low-grade
metamorphic rocks and in altered igneous rocks

K feldspar- Feldspars are a group of rock-forming aluminium tectosilicate
minerals, containing sodium, calcium, potassium, or barium.

Porphyry - refers to the texture of the rocks and suffix as granite-,
rhyolite, and basalt-porphyry. The porphyry deposits are formed by
differentiation and cooling of a column of rising magma in stages

Hydrothermal alteration - is a complex process involving mineralogical,
chemical and textural changes, resulting from the interaction of hot aqueous
fluids

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. 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  UPDFIMMTMTITBTT