High Resolution Gravity Survey at Red Setter

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 (16km²) 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 (16km²) 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 57.4km² 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 .

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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]

 

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