Strategy/Company/Ops Update

RNS Number : 5938K

Wishbone Gold PLC

22 December 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

22 December 2022

Wishbone Gold Plc

("Wishbone" or the "Company")

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

Magneto Tellurics Survey Underway over Paterson Tenements

Paterson Range, Western Australia

Wishbone Gold Plc (AIM: WSBN, AQSE: WSBN), would like to inform the market that a Magneto Tellurics ("MT") survey is underway on the company's Western Australian properties. 

As previously reported Wishbone intersected mineralisation in multiple drill holes in the maiden drill program on Red Setter. The company has now engaged Expert Geophysics Pty Ltd, who specialise in such surveys to complete an MT survey over Red Setter and Cottesloe. Once completed data processing and inversions will take approximately 6 weeks to finalise. Combined with the broad spread of mineralisation in the drill results, adding MT into the package of data which we now have will provide a further focus for the drill program next year.

MT uses Passive Airborne Electromagnetic Methods ("AEM") which exploit the principles of naturally varying electromagnetic fields to identify mineralisation. The MT system is one of the latest developments in passive field AEM technology. It has proven to have high sensitivity to resistance differentiations in a broad range, including thousands and tens of thousands of ohm-m's.

Photos and videos will be released on the company social media channels when available.

Richard Poulden, Wishbone Gold's Chairman, commented:

"MT technology is an important next step in exploration at Red Setter to define more accurately the location of increased sulphide mineralisation. By using this technology the aim is to define the main trend and centre of the mineralisation system".

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

www.wishbonegold.com .

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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 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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