REG - Wishbone Gold PLC - High Resolution Gravity Survey at Red Setter

Wishbone GoldAnnouncement

08/09/2022 11:30

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RNS Number : 7899Y  Wishbone Gold PLC  08 September 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

 

 

8 September 2022

 

Wishbone Gold Plc

("Wishbone" or the "Company")

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

 

High Resolution Gravity Survey to start at Red Setter Project

 

Drilling Continues

 

Patersons Range, Western Australia

 

 

Wishbone Gold Plc (AIM: WSBN, AQSE: WSBN), is pleased to announce a gravity
survey is to start this weekend, over a 4km x 4km (16km(2)) area, on a spacing
of 100 metres, that covers the centre of the highly encouraging drill results
being delivered at the Company's Red Setter Gold-Copper Project in the
Patersons Range area in Western Australia. The survey is expected to take 2
weeks, with processed results by the end of September.

 

As a basis and concept for the gravity survey, the mineralisation at Havieron
is on the south side of the magnetic feature, where the gravity high is
located and was targeted with drilling, that returned the maiden outstanding
drill result. The mineralisation at Havieron then wraps around the magnetic
feature. At Red Setter, drilling along the magnetic unit is providing
important information, and with a depth of Permian cover of 150metres, we are
now looking to define the high density/gravity areas that may represent higher
sulphide content to better target drilling over such a large target area. The
gravity survey is aimed at fast tracking targets for drilling in 2022. The
gravity survey is now possible with the completion of a Heritage Survey, that
has also opened up a large area for drilling over the 4km x 4km (16km(2))
area. This heritage survey was designed to clear 50 drill pad sites ready for
an expanded drill programme over a strike length of ~3km.

 

The Red Setter Project is situated on the 57.4km(2) wholly owned Exploration
Licence EL45/5297 and is located 13 km south-west of Newcrest Mining's Telfer
Gold-Copper Mine and 60km west of Newcrest and Greatland Gold's Havieron
gold-copper discovery.

Richard Poulden, Wishbone Gold's Chairman, commented, "We are now in a
position to press forward. We have a successful heritage survey completed,
that has opened up the tenement to a gravity survey, and also dramatically
increased approved drill pads over the project area. This enables us to target
current and potential gravity anomalies over an area of 4km by 4km. This
gravity survey will run in parallel to the current drilling programme. In the
meantime, drilling continues on site at Red Setter, with mineralised diamond
drill core being cut and dispatched to assay labs in Perth for gold/copper
analysis and I look forward to reporting solid progress on numerous fronts."

Competent Persons Statement

The Information in this report that relates to exploration results, mineral
resources or ore reserves is based on information compiled by Mr Edward Mead,
who is a Member of the Australasian Institute of Mining and Metallurgy. Mr
Mead is a consultant to the company and employed by Doraleda Pty Ltd. Mr Mead
has sufficient experience which is relevant to the style of mineralisation and
type of deposits under consideration and to the activity that he is
undertaking to qualify as a Competent Person as defined in the 2012 edition of
the `Australian Code for Reporting Exploration Results, Mineral Resources and
Ore Reserves' (the JORC Code). Mr Mead consents to the inclusion of this
information in the form and context in which it appears in this report.

 

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

 

 

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