REG - Wishbone Gold PLC - New gold targets identified at Mosquito Creek

Wishbone GoldAnnouncement

08/05/2025 07:01

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RNS Number : 8564H  Wishbone Gold PLC  08 May 2025

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 May 2025

 

Wishbone Gold Plc

("Wishbone" or the "Company")

 

New gold targets identified at Mosquito Creek Crescent Project,

Pilbara Region, Western Australia

 

Wishbone Gold Plc (AIM: WSBN, AQSE: WSBN), is pleased to report that an
extensive geological review of the prospective tenements at its Crescent Gold
Project in the Mosquito Creek region of Western Australia has identified
eleven (11) fresh gold targets that require further on-ground investigation.

 

Highlights:

 

·    New gold exploration opportunities identified for follow-up
exploration at the Crescent Gold Project in Western Australia

·    11 priority targets

·    As previously reported by RNS dated 22 November 2023, the tenements
are well endowed with gold, and samples from within the project area of
reported rock chip results include:

o  95.5 g/t gold, 91.8g/t, 117 Au (800284 original + 2 repeat assays)

o  5.83 g/t Au (610058)

o  4.71 g/t Au: (610059)

o  4.33 g/t Au (610060)

 

Richard Poulden, Wishbone Gold's Chairman, commented:

"Our Crescent Gold Project near Nullagine has always showed a great deal of
promise. It is another excellent gold project to advance which will complement
our efforts to drill the main target at the Red Setter Dome. We are sending
independent exploration consultants to assess the Crescent target's potential
for shear hosted gold mineralisation which is common in the area and will
advise next steps as they become finalised."

 

About the Crescent Gold Project, Nullagine, Western Australia

The 100% owned, 157 sq km Crescent Gold Project (the "Project"), is in the
prolific gold area of Mosquito Creek, in the Pilbara region of Western
Australia.  It is located 260km south-east of Port Headland, the main port
for the region.

 

The Project consists of two granted exploration licences E46/1463 and E46/1464
and one exploration licence application E46/1294, as per Figure 1.

E 46/1463 (Granted) has tenement expenditure of $23k pa and expires on the
16/3/2028 and can be renewed. E 46/1464 (Granted) has tenement expenditure of
$20k pa and expires on the 20/3/2028 and can be renewed.

   Figure 1: Tenement Map

 

Mineralisation within the Nullagine region is strongly structurally
controlled. There are some highly chloritic +/- sulphides zones within a shear
zone, others are ferruginous quartz vein zones within more finite fault
structures. A characteristic of all is the strong plunging shoot nature of the
mineralisation within the structure and the typically short strike lengths of
the mineralised shoot. The host structure may extend over multiple 100 metres
and possibly kilometres, but many mineralised shoots may only be tens of
metres long.

 

Thus, if a mineralised trend/structure is identified it needs to be sampled
initially to identify the extent of potentially mineralised zones and then to
define the location of the mineralised shoots prior to drilling.

 

Open file regional sampling by multiple parties has shown potential targets
within the Crescent Gold project tenements. Virtually all sampling has been on
north-south lines 800m apart to identify any anomalous trends.

 

Figure 2: Compilation of all Regional geochemical sampling with interpreted
trends

 

Interpretation of these results suggests the potential for numerous
mineralised structures within the project area which have not been closely
evaluated.

 

A deposit of economic interest could easily exist between the wide spaced
sample lines. A significant trend showing anomalous responses occurs in the
southern E46/1464 with a coherent trend in a NW-SE direction traceable for
approximately 4.5km which requires closer investigation. Approximately 300m of
this strike length has been drill tested.

 

An area within E46/1463 of 4km x 4km has not been sampled with 2 separate
areas adjacent to but outside the tenement.

 

The area west of the Eastern Creek mining area shows some anomalous responses
along a NE-SW trend consistent with the mining activity in Eastern Creek. The
sampling however in this area has not been systematic and is an area requiring
further investigation.

 

 

Figure 3: Highlighted Target Zones, defined by geochemical sampling and interpreted trends.

 

END

 

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

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

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

 Tavira Financial Limited
 (Broker)
 Chris Kipling                                             Tel: +44 20 3833 3742

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

 

 

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 Fellow 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.

 

Beaumont Cornish Limited ("Beaumont Cornish") is the Company's Nominated
Adviser and is authorised and regulated by the FCA. Beaumont Cornish's
responsibilities as the Company's Nominated Adviser, including a
responsibility to advise and guide the Company on its responsibilities under
the AIM Rules for Companies and AIM Rules for Nominated Advisers, are owed
solely to the London Stock Exchange. Beaumont Cornish is not acting for and
will not be responsible to any other persons for providing protections
afforded to customers of Beaumont Cornish nor for advising them in relation to
the proposed arrangements described in this announcement or any matter
referred to in it.

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