REG - Wishbone Gold PLC - Visual Drilling Results at Red Setter Project

Wishbone GoldAnnouncement

01/08/2022 07:16

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RNS Number : 3951U  Wishbone Gold PLC  01 August 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

 

 

 

1 August 2022

 

Wishbone Gold Plc

("Wishbone" or the "Company")

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

 

Encouraging Visual Drilling Results at Red Setter Project

 

Patersons Range, Western Australia

 

 

Wishbone Gold Plc (AIM: WSBN, AQSE: WSBN), is pleased to announce drilling is
delivering encouraging results (Photos 1-5), with the intersection of multiple
zones of quartz veining, carbonate and chalcopyrite and pyrrhotite, from
drilling targeting the previously reported 3.4km x 1km magnetic targets
modelled at the Company's Red Setter Gold-Copper Project in the Patersons
Range area in Western Australia.

 

The current hole (WRSDD0003) is at a depth of ~370metres and will continue
until it is out of visible sulphides. The core has not been fully logged or
cut by Terra Search, and will be dispatched for assay in the coming weeks. The
first drill hole drilled in this programme was a water bore to set the drill
programme up for diamond drilling, with the first diamond drill hole
(WRSDD0002), a vertical hole on the same drill pad. This hole intersected
visible mineralisation but was terminated at 384metres depth to move to the
current hole, which was designed to test the top of the magnetic signature.
After completion of the current hole, WRSDD0002 will be re-entered and pushed
further to test the mineralisation.

 

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, "It has taken some time
to get the diamond drilling underway at Red Setter, and I am very pleased to
see these encouraging signs of mineralisation from the drilling thus far. On
the strength of what is being seen to date, Wishbone is now endeavouring to
secure an additional diamond drill rig.  I look forward to further positive
results as we target the ~3km strike of the magnetic models. This is an
exciting time for Wishbone."

 

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

Photo 1: WRSDD0003, Chalcopyrite and pyrrhotite in quartz vein ~350m down
hole.

Photo 2: WRSDD0003, Pyrrhotite associated with albite - carbonate and biotite
alteration at~ 345 metres

 

Photo 3: WRSDD0003, Brecciation around 280 - 290m. Note local clots of pyrite

 

 

Photo 4: WRSDD0003, Chalcopyrite and pyrrhotite in quartz carbonate fractures
and brecciation at ~345 metres

Photo 5: WRSDD0003, Chalcopyrite and pyrrhotite in quartz vein ~350 metres
down hole.

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