Completion of Anketell Project Acquisition

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 .

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: [phone]
Beaumont Cornish Limited
(Nominated Adviser and AQUIS Exchange Corporate Adviser)
Roland Cornish/Rosalind Hill Abrahams	Tel: [phone]
Peterhouse Capital Limited
(Broker)
Lucy Williams and Duncan Vasey	Tel: [phone]

Figure 1: Modelled intrusive bodies E45/6198

 

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